Stan Levenson's Blog: March 2015

FINDING WEALTHY DONORS

Stan Levenson

Colleges, universities, private schools, nonprofits, and churches are very adept at finding wealthy donors within their communities and among their alumni and friends. They also know that there are consultant companies that specialize in this area and are available to assist them. It has been my experience that regardless of where you are located in the United States, whether it is in a rural area, big city, or the suburbs, there are wealthy people living there. You have to dig hard! Many times they might be your next-door neighbor. Take a look at the book The Millionaire Next Door, by Thomas Stanley and William Danko (http://www.nytimes.com/books/first/s/stanley-millionaire.html).

People with money in your community who have attended your schools, have relatives attending your schools, have taught or been administrators in your schools, or are involved in your schools at this time are most likely to give to your cause. All these people are potential donors. Nurture these people with gusto! Treat them with dignity and respect and become their friends. You won’t believe the payoff!

Asking for money from friends, relatives, or strangers is an unnatural act. Most of us don’t know how to or don’t want to do this. But it’s not all that difficult once you learn how. When approaching a potential donor, you are making a human connection over time that hopefully will lead to a desired gift. My more than 40 years of experience has helped me to understand that individuals don’t want to give their money away, but they do want to invest in worthy causes that change people’s lives. There are few causes more worthy and more life-altering than public education.

Inherited Wealth

When it comes to studying and understanding wealth in America, I continue to be very excited about the research and writings of Paul Schervish and John Havens, who are researchers at the Center on Wealth and Philanthropy at Boston College in Chestnut Hill, Massachusetts. They have projected that people throughout the United States will be inheriting a total of $41 trillion by the year 2052, a number that is based on a 2 percent growth rate. They have further indicated that with a growth rate of 3 percent, $73 trillion will be inherited, and with a growth rate of 4 percent, that number will increase to $132 trillion. Of special interest at this time is the baby boomer generation (ages 50 to 68). Schervish and Havens believe that the boomers will keep fundraisers busy for the next 30 years because they are wealthier in total and per household than any previous generation and are just now coming into prime giving ages. In addition to the boomer generation, they recommend that we continue to solicit from prospective donors older than 68 as well as those under age 50 who are just coming into inherited money. If Schervish and Havens are correct in their projections, public schools all over the nation that are ready and able to solicit major donors will reap major rewards.

Below you will find links to websites that will be of help to you. Some of the links lead to classic books written by some of the biggest names in fundraising in America. Also included are links to discovering wealth in America and how to approach the people who have it. Of particular interest is the Center on Wealth and Philanthropy at Boston College, where some of the foremost research is going on, and the Giving USA Reports, where you can get a yearly update on fundraising in the United States and get a feel for what’s happening across the nation and a breakdown of where grants come from and who gets them.

Fundraising, Marketing, & Communications

The Essential Fundraising Guide for K-12 Schools, by Stan Levenson

www.stanlevenson.com

Big-Time Fundraising For Today’s Schools, by Stan Levenson

www.stanlevenson.com

Asking, by Jerold Panas

http://emersonandchurch.com/bookstore/asking/

Mega Gifts, by Jerold Panas

http://emersonandchurch.com/bookstore/mega-gifts/

How to Connect with Donors, by Thomas Wolf

http://emersonandchurch.com/bookstore/how-to-connect-with-donors-and-double-the-money-you-raise/

Rural Schools