Six tips for raising money in hard times

The economy and the stock markets may be in turmoil, but "there’s still plenty of money out there," says fundraising sage Laura Fredericks in The Chronicle of Higher Education (Oct. 17). However, you’d be wise to reassess the way you approach your donors.

Kathryn Masterson, who cites Fredericks and other experts in her article, "Fund Raisers Share Their Secrets for Raising Money in Tough Times," recommends the following steps:

1. Focus on your most loyal donors and thank them for their long-time support.
2. Call and visit your donors to let them know what a difference they have made in your work.
3. Give your donors more for their money: institute challenge grants.
4. Continue to encourage planned giving for the long-term health of your organization.
5. If a long-term donor is having a serious problem, such as loss of a job, look for ways your organization may be able help them (for instance, with networking).
6. Show some sensitivity. Think twice, for example, about throwing big-ticket events.

[Note: Link to full article will expire Dec. 10.]