Walkathon Maven

Looking for a large donation? Do you have a sad and unproductive donor database? Not sure where to start?

Lucky you!

Fortune has released the Top 400 list of Billionaires.  You only need $1.7B to get on the list. That’s all!

So how do you get on their donation radar? Email them and as for a million or billion for your cause? Call them and hope they personally pick up the phone? Mail them the “proposal” and hope it does not go directly into the trash with the others? Or better yet – wait for the letter or postcard thanking you for thinking of them for their charitable giving and sadly explaining that their efforts do not align with your mission. What to do?

I started this blog a few years ago with a post about Magic Mike with hopes of answering this question. Magic Mike did not wait for his donors to come to the club and place (donate) dollar bills into his thrusting pelvic region. He walked around a different club before the event and cultivated his donors by talking to them and personally invited them to his event.

What did Professor Magic Mike teach us?

1. All good donor cultivation starts with a relationship.

2. If necessary, find a door opener to the person you want to cultivate.

3. Foster the relationships with the door openers because they can be as important as the ultimate check-writer.

4. It is a relationship and hand holding is necessary before you hug, then kiss, then get engaged and then married.

That’s the order – right? Magic Mike did not teach us all of the above but you get the idea of taking baby steps to meet the right people and the “art of the ask.”

I could be wrong about all of this and I’d love to hear from somebody that has received a 5-digit donation from an email or a written proposal. I want to know if anyone has ever received a large donation from a person or foundation or corporation without actually having to speak to a human.  C’est impossible? Do tell!

Thanks for Fortune magazine for providing this call list for free. Now get on it and let is know how you did!

Just another gratuitous photo of Magic Mike. Because I can.

The Powerball jackpot is over $250 meeeeeellion dollars tonight and it is always fun to think about what you would do with the money if you won.

My kids and I talk about winning the lottery when a large jackpot is in the news and what we would do with the money if we won. My kids look at me skeptically when I tell them that they have already won the lottery since they have me as their Mommy!

What do you do when you come into a big honkin’ pile of money through hard work, family assets or winning the lottery? There are lots of decisions to make regarding how (and if) you want to leave your charitable financial footprint. I appreciate and congratulate the good intentions of wealthy people who want to make the world a better place by giving their money away to a cause that is meaningful to them.  Some people will start their own charity as a way to do this.  Sometimes that is not a good idea.

A recent article in the Wall Street Journal speaks of the pitfalls of starting your own charity.

Having worked for a few charities, I can tell you that there are some serious (and sometimes debilitating) overhead and expenses that come along with being a charitable organization.  Much has been written about charities that give few, if any, dollars to their intended recipients. I see this a lot with celebrities and professional athletes. Their bank accounts are large and intentions are good, but the operational aspect of running an organization can be overwhelming. Some of the larger expenses include:

Salaries:  Expect to pay people to run your organization. Family members included.

Professional Services:  Accountants, Consultants, Lawyers etc..

Facilities: (If you are not doing this out of your home) Rent, Utilities, Maintenance, Snow removal!!

Insurance: Especially if you are having any events. You are liable if your guests gets injured.

Equipment: Computers, hardware, software, printers, desks, chairs, phones

Supplies: Pens, pencils, paper, postage

There are plenty of charitable avenues to take to be a hero for your cause. I’d like to recommend that the most responsible way to do this is to give your money to an established charity that has a mission similar to your own. They are staffed and already figured out the financial logistics on how to appropriately manage expenses (we hope).  If you want your name to be associated with your mission, then let the charity name a building, a wing or a conference room after you!

Check out my LINKS page to see the websites that can help you with your research.

If my kids ever win the lottery, I can only hope that they will be smart and not buy all of their friends gold necklaces or depreciating assets.  Good luck!