Know-How Exchange : Strategy

Tons of ideas, not enough time.

See if you can find a business that is willing to provide a match for your founding members. They put up $10K if you can raise it for example - you say it "makes your $100 worth $200" etc. Your Board should all be donors - maybe that is the source of your original match. Don't forget those who may not show high net worth in an "outwardly" fashion. We often hear of the widowed school teacher who leaves hundreds of thousands of dollars and no one would have ever expected it. (We had a lady pass away in the community who left an estate of $1M - surprised everybody.) Be in the local media - tell how you'll use the proceeds from the gifts. Help people understand how they are leaving a legacy. Use the saying "live here - give here." We anticipate billions of dollars in transfer of wealth over the next fifty years and we're working hard to try and keep at least a little bit of that here in our county.

Good Luck - too bad you don't have more time.

CVN

To reach high net worth clients you may need to make connections with Financial Planners, Trust Attornies and stock brokers. High net worth clients routinely interact with these people. Typically donors choose community foundations so that they can take an imediate tax write off while giving over a period of time.

Many people still do not understand the merits of giving to a community foundation. You need to produce some material that makes that them clear:
*Immediate deduction
*Directed Giving
*No hassle with taxes or lwayers running as there is running a private foundation
*No liablility as the foundation checks the elgibility of recepients

You will also need to be very clear about the various vehicles of giving: Donor Advised Funds, Endowments, General Fund, etc.

I think the biggest job is to identify high net worth families and then educate them about Community Foundations. Many choose them as they are much easier to set up and by far easier to run then a private foundation. This education is the key. People will make good decisions when given all of the information.

Hope this helps,
Mike

No matter who you're targeting, the basics are still: identifying who they are and why they should care about your organization. Your target market is more than high net worth people - it's people who have donated before. One approach is to look at other organization's donor lists and begin to get to know your prospects.

High net worth people are regularly approached for donations, so your marketing materials has to clearly articulate where your past funds have gone to benefit the community, and what specifically you need from the community to achieve your next specific goals.

Start paying attention to those companies that are civic minded. You'll see them in the programs at the theatre, to on the signage of the local farmer market. You'll see they range from high profile companies to those with smaller presence. Sell everything. And remember in kind donations are the same as cash. I recommend getting your media sponsors first-- they'll be your mouth piece. As far as types of fundraisers, they be special events, to a 100 "friends" (or founders) campaign where they donate once a year and aren't hit up again till the year after.

It really depends on how much you need to raise, the time frame and the strength and energy of your volunteer group.