Is it possible to raise money by contacting corporations?
Summary:
Corporations support nonprofits when there is a strong alignment of goals. This item gives advice on how to identify the right corporations to contact.
Answer:
Someone asked in Nonprofit (see http://www.rain.org/mailman/listinfo/nonprofit):
Does anyone have samples of successful solicitation letters for
corporations - first time/cold calling communication?
Would appreciate any ideas. I have a list of 300 corporations/with
foundations I wish to solicit. I know the drill on what's needed. I have
divided which group gets what type of request, I just seem to be blank on
the "creative" side of what to say in the letter to stimulate their
interest. They have heard everything.
Jayne Cravens, a long-time contributor to these discussions, answered on August 31, 2003:
Corporations don't fund nonprofits because of a creative letter.
Corporations don't become interested in nonprofits because of a creative
letter.
Give up on the idea of sending out letters to 300 corporations with
foundations. It will be a waste of postage and resources. Instead of making
cold mailing 300 corporations, your time would be much better spent if you
found out what kind of relationships your organization *already has* with
businesses:
Start by asking your volunteers, including board members, what companies
they work for, and if they would be comfortable providing you with
information on the company's donation guidelines and employee volunteering
policy, or putting you in touch with the person in charge of such at the
company, and if they would be comfortable with you using their name when you
do approach the company. Perhaps the employee would even be willing to meet
with the corporate giving person at his or her company, sit down
face-to-face, and tell the person about his or her volunteering experience
at your organization.
As I've mentioned before, I also suggest walking around the block, then
walking around a two block
radius, and so forth, and writing down the names and addresses of every
for-profit business nearby. Then prepare a flyer or letter that specifically
introduces those neighborhood companies to your organization. Invite them to
visit your web site, invite them to volunteer, and talk about the difference
your organization makes. Once you have established relationships with these
companies, then think about how best to approach them for
sponsorships/donations. You may get a response, "Oh, our corporate office in
(insert different city and state) handles all donations." Fine -- when you
write that corporate office, mention the local affiliated in your
neighborhood.
When you do go for the "big ask", make sure you know exactly what it is that
you are asking for. Be able to say, clearly and with assuredness, why the
organization or project is worth supporting, and all of the various ways the
company could support it (from simply mentioning it to their staff to
in-kind-donations to financial donations and everything in between).
Also go with the attitude of "I have an opportunity for you to make a
difference" rather than "please, we need money."
For companies that have no local connection to your geographic area but who
have foundations, zone in on ONLY those companies who have funded
organizations or projects similar to your own, or who have stated a
foundation mission that matches what it is you want them to fund
*perfectly*. Make sure if and when you approach a company, you TAILOR your
information to show very clearly how your organization meets its stated
mission regarding its foundation -- meaning, if the foundation funds
children's programs, don't send it a proposal to fund a program to help
stray animals. Sometimes, I even quote back the foundation's statements,
illustrating how our program matches their mission *exactly*.
Posted September 1, 2003 -- PB
