Chapter Fundraising
Cashing In on Donations and Sponsorships
Looking to add a little variety to your fundraising program? Need something with a potential high return and low risk? If your college administration doesn't object, try seeking donations from a local business, major corporation or charitable foundation. A little bit of well planned communication can get your chapter on the road to raising funds for travel, service projects and other chapter expenses. Here are some important "Do's" and "Don'ts" for soliciting sponsors.
Do: Determine your needs in advance. If you are raising money for a conference, consider registration, lodging, and transportation. If you are participating in Relay For LifeŽ, be familiar with your team's goal and set a personal goal. Once you have a target amount, you can set small goals and request specific amounts from donors.
Don't: Look sloppy in your approach. The quickest way to lose a potential donor is to have a sloppy presentation. Start the written sponsorship request with a brief description of Phi Theta Kappa and your college. State how much money the chapter needs and for what purpose. Finally, provide two ways to reach the chapter contact person.
Do: Remind sponsors that their contribution is tax deductible. Each chapter has an individual taxpayer identification number, available from Phi Theta Kappa Headquarters. You may also request a copy of the Group Letter of Determination, which officially declares Phi Theta Kappa to be a 501 (c) (3) non-profit organization. Contact Financial Services Assistant Tracey Barnes at 601.984.3510.
Don't: Limit your request to cash only. Many businesses are willing to make a donation of goods or services in lieu of cash. Your chapter can then raise funds from these donations by organizing a drawing or auction.
Do: Offer free publicity for donor businesses. Designate a page of your chapter newsletter or website, or a special place on your campus bulletin board to recognize sponsors. This is free advertising for businesses that market to college students.
Do: Follow up with a phone call to the sponsor one week after sending your letter. This is important not only to remind the potential donor of your request, but also to cultivate relationships that you can use in your next fundraising drive. When you call, be sure to state your name, organization and the reason you are calling. If possible, schedule a one-on-one meeting to strengthen the relationship between the donor and your chapter.
Don't: Be late for your appointment. If a potential sponsor agrees to meet with you, it is vitally important that you do not keep them waiting. The chances are good that if they request a meeting, they will give a donation. They can still change their minds though, and keeping them waiting is a good way to lose that donation.
Do: Send thank you letters. Regardless of the outcome of your communication with the sponsor, send them a thank you letter for their time and consideration of your chapter. Let the donor know how vital their gifts are to the success of the chapter. You never know how far that letter will go in securing funds in the future. For more tips on fundraising, or to find out what other chapters have done, contact Chapter Programs Coordinator Garon Tate at 601.984.3555.
Chapter Officers share their most successful fundraisers!
