November 27, 2008 | Read Time: 4 minutes
In his new book, Yours for the Asking: An Indispensable Guide to Fundraising and Management, Reynold Levy, president of Lincoln Center for the Performing Arts, offers numerous tips. Among them:
Be on time and in person. When it comes to winning the largest gifts, nothing beats a face-to-face meeting, which is much harder to turn down than a written proposal, says Mr. Levy.
When meeting with a potential donor, Mr. Levy says, he always makes the appointment himself rather than through an assistant. And whenever possible, he says, he brings a peer of the person, preferably someone to whom the would-be donor “owes something psychically.”
For example, he says, when soliciting private equity managers, Mr. Levy often brings David Rubenstein, co-founder of the Carlyle Group and chair of Lincoln Center’s capital campaign.
“When they see this guy who lives in Washington and travels all around the world come to them and ask for their support of Lincoln Center when he has never asked them for any other cause or institution, that’s powerful stuff,” says Mr. Levy.
It is particularly important, he says, to show respect and gratitude by meeting at a time and place of the prospective donor’s choosing, arriving and leaving at the appointed time, and following up in whatever medium the person prefers.
Conduct research about the potential donors. Securing big gifts from donors comes down to knowing what makes them tick, says Mr. Levy: “Philanthropy is biography.”
He says fund raisers need to make it a priority to find out as much as possible about a potential donor’s background, interests, family, and professional history.
For a 45-minute meeting with a donor, he says, he spends half an hour preparing, reviewing research conducted by his staff for possible common connections or passions.
“Getting to ‘yes’ is often more than just a matter of analysis and manifest need,” writes Mr. Levy. “It is solving the mystery of what really moves your prospect to do something special for a cause.”
Follow up quickly. Most donors have busy lives and many claims on their money and attention. If you cannot put a written proposal in a donor’s hands within a few days of a meeting, says Mr. Levy, the donor’s attention is often lost.
Fund raisers, he says, often expend too much energy on fastidious research and crafting a perfect pitch letter, resulting in delays. “It is far better to be roughly right, brief, and early, than perfect, comprehensive and late,” writes Mr. Levy.
A donor who wants more detail about a proposal will ask for it, he says.
Take a walk. Sometimes walking a mile or more around a nonprofit institution can help its fund raisers see it from the perspective of neighbors, patrons, or clients who can then be approached for support, says Mr. Levy.
He says he frequently walks along New York’s West Side, taking time to speak with local retailers, restaurateurs, and business owners, all of whom have a vested interest in Lincoln Center’s ability to attract tourist traffic.
It was these walks, he says, that inspired the creation of the Lincoln Center Conservancy, which recognizes local businesses that contribute by giving them either publicity, such as a mention on the Lincoln Center Web site, or other benefits, like tickets or invitations for employees to attend Lincoln Center dress rehearsals.
Businesses must give at least $5,000 to get the publicity and other benefits, though one has given $100,000, Mr. Levy says.
The ambulatory approach to fund raising can be even more fruitful for smaller organizations, says Mr. Levy. Although small groups may have less access to foundations and big corporate sponsors, he says, they may find valuable support outside their doorstep in the form of small businesses, bank branch offices, and retail outlets.
Don’t give up on special events. While they may not admit it, donors love the recognition and excuse to dress up that galas and other special events provide, says Mr. Levy. And even in hard economic times, he says, the more memorable the event, the bigger the payoff, both in contributions and in strengthening donors’ ties to the institution.
At Lincoln Center, Mr. Levy presides over hundreds of special events. Among the most notable was a gala marking Alice Tully Hall’s 18-month closure for renovations. The “Good Night Alice” event — which was announced by invitations made of miniature pillows adorned with a mint chocolate — was televised nationally and featured fireworks and special performances from artists such as Wynton Marsalis and Philip Glass, as well as a festive dinner served in construction-worker lunchboxes and thermoses served by waiters in jeans and hard hats. The benefit raised $5.5-million toward the reconstruction project.
When sending out solicitations for gala support, Mr. Levy suggests personalizing the appeal with a handwritten postscript. Also, he says, don’t be shy about asking for contributions from those who cannot attend.
“Calendar conflicts are only an excuse for the failure to contribute, if you refrain from explicitly asking for support in lieu of attendance,” he writes. It is not unusual for up to 20 percent of a gala’s profits to come from those unable to attend, he says.
