The Power of Fundraising Using Charitable Foundations
Fundraising Using Charitable Foundations
Part 20
In our last fundraising communication we discussed the importance of selecting the right volunteer into the correct position. Always place a person in their area of passion and step aside and watch their success.
Now it is time to turn our focus towards fundraising through charitable foundations. Individuals who have been successful in their business practice will frequently fund a charitable foundation focusing on issues, which are close to their heart.
There are literally thousands of charitable foundations that receive thousands of requests for funding projects from fundraising consultants and fundraising organizations. The charitable foundation sort through these requests and determine which ones would be worthy of funding.
Charitable foundations frequently meet on an annual or semiannual basis. If your fundraising request receives a favorable review than one may be asked to submit additional information. Most charitable foundations have a director who manages the organization and sifts through the various requests. Most charitable foundations request a phone call from someone soliciting money to determine if the focus of the charitable foundation is in line with the particular fundraising project requesting funding.
If it is not possible to make a phone call then a short one or two page letter to the charitable foundation is your best “next” course of action. Be careful not to make “one letter” that you will use as a template and send to every charitable foundation you can find. The “shotgun” approach does not work.
Each letter sent to a charitable foundation must be tailored to meet the specific requirements of the foundation you are soliciting. The purpose of the charitable foundation is to provide funding for registered charitable organizations that have a charitable tax number. Charitable foundations normally do not fund individual personal projects. If you are not a registered charity then do not waste your time soliciting charitable foundations.
Charitable foundations provide funding for churches, hospitals, research, educational facilities, Christian schools, colleges, universities, youth programs, community related programs, building projects, as well as many other areas. Although it is not the norm, some charitable foundations will provide funding for operating expenses.
This area of funding takes time and a great deal of patience.
Well, that’s the way I see it!
Monty McKinnon
Master Financial Planning Services Inc.
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