WHERE THE MONEY IS WHEN THERE DOESN'T SEEM TO BE ANY MONEY

1. WHERE THE MONEY IS WHEN THERE DOESN'T SEEM TO BE ANY MONEY STRATEGIES FOR RAISING FUNDS IN THE CURRENT ECONOMY Larry Rosensweig President LFR Consulting Florida Association of Museums Annual Conference 2009

2. Who Gives a ………Dollar? • Giving USA 2009 reports: • American individuals, corporations, and foundations were very generous in 2008, contributing more than $307 billion to nonprofit organizations • For the first time since 1987 and only the second time since Giving USA began publishing annual reports in 1956, total giving decreased in current dollars

3. Who Gives a ………Dollar? • The impact the economy had on philanthropy last year did not affect all nonprofit giving sectors in the same way. Arts-culture-humanities saw a significant 6.4% decrease in giving • As in the past, more than 80 percent of these dollars were given by individuals

4. Giving USA

5. Who Gives a ………Dollar? • Corporate giving – usually only around 4-5% of total – declined by 4.5% in 2008 • Foundation giving increased by 3% in 2008, but… • Assets declined substantially ~30% • New gifts to donor-advised funds down significantly in 2009, with declines expected in giving

6. How about some more bad news! • Government Support Down • Federal – slight increases in IMLS, NEA, NEH, etc. + stimulus $$ • State – large decreases in grants with more cuts expected • Local – Tourism + other grants down significantly in most counties • Direct subsidies down and trending lower

7. INDIVIDUAL GIVING DOWN, TOO • Still 80-90% of total but… • Most people’s assets down • Psychology still negative or, at best, uncertain • Very few people giving to causes or organizations they are not already involved with

8. So….Where Are You Going to Get the Money?!? “Why do I rob banks? Because that’s where the money is.” Attributed to Willie Sutton

9. People Who Care About You • Trustees • Former Trustees • Volunteers • Members • Past Donors • Corporate & Foundation Supporters

10. How to Target the Right People • Pick a $$ amount appropriate for your museum • List people who gave that amount or more in previous 2-3 years but not this year • Review and determine a target amount and giving opportunity for each person/organization

11. CREATE A SIMPLE MENU • Membership Upgrades • Sponsor a specific program • ‘Host Committee’ • Specific amount • Event (usually least cost-effective) • Unrestricted Gift

12. Sample Past Donor Spreadsheet

13. Focus on Who Benefits and How • Tell stories about people whose lives you change

14. Focus on Who Benefits and How • Stick to your mission • Don’t emphasize the ‘party’

15. Assign responsibility • Who will do research • Is prospect a Madoff victim? • Did prospect lose job or business? • Who will ‘open door’ • Trustee or other volunteer? • Who will solicit or actually ask for gift • Team of staff member and volunteer

16. Time is of the essence when saying Thank You

17. Who will follow up and steward the donor? • Thank you note (s) • Appropriate credits • Invitations to events, activities • Report on what has been accomplished with donor’s funds

18. When facing a difficult task, act as though it is impossible to fail. If you’re going after Moby Dick, take tartar sauce. ~ Life’s Instructions for Wisdom, Success, and Happiness ~