September 17, 2008 | Read Time: 1 minute
The bankruptcy of Lehman Brothers and federal takeover of AIG this week has charities increasingly worried about fund raising: Not only will they lose gifts from the companies and their employees, but the market’s contractions are likely to make other donors leery of giving in coming months.
Bruce Flessner, a Minneapolis fund-raising consultant, offers several tips to help institutions in the midst of big fund-raising campaigns weather this latest Wall Street crisis. Among them:
- Reconsider how to approach donors directly affected by the financial industry’s woes. People who a year ago seemed like the best possible supporters may need to be approached differently—or not at all—until things improve.
- Do some new research into key donors’ assets. The portfolios of family foundations and other assets held by prospective donors may have changed. With updated information, fund raisers will be better prepared for solicitation calls in which a gift amount is discussed.
- Make more calls to potential donors, because it is likely that people will take longer to make a decision to give now. “What would it take to increase the number of calls by your development team 10 or 20 percent from now until year end?”
What steps are you taking to minimize a loss of donations in coming months?
