February 4, 2008
Fund Raising in a Troubled Economy
Most fund raisers are keeping an eye on what the economy will do, worried that a possible recession might make their jobs more difficult in the months ahead. But not everybody is prone to panic –- seasoned development professionals say now is the time to check in with big donors, according to an article in The Chronicle this week.
While an economic downturn may result in less direct-mail marketing or big events for a college’s fund-raising department, one part of the budget that should not be cut is travel. Visiting your most generous donors is important, even when you’re not asking them for money.
“Keep in touch with your best donors,” the article says. “Even if you can’t solicit gifts from them at this time, continue to update them on what their gifts have done for students and the institution.”
What other advice do you have for fund raisers soliciting private gifts during a recession?
estrout | Posted on Monday February 4, 2008 | PermalinkComments
Previous: Anatomy of a Chancellor's $1-Million Gift
Next: Barnard's Fund-Raising Challenge
Colleagues,
What has worked well for me in a challenging philanthropic environment is to encourage gifts of depreciated stocks and securities. Typically the donor can claim both the charitable deduction as well as the loss incurred from the original price of the stock or security. Have any of you attempted the same?
You can send your comments to me at frankpasquini@kings.edu
— frank pasquini Feb 4, 03:02 PM #