How To Ask For Money
Below are some thoughts on how to ask for money statutory bodies, trusts, companies and other organisations.
Face to Face
If you can arrange to meet the right person in a company or in a trust fund to put your case to them personally, do so. It is by far the best way of winning their support. It may take several meetings to get the result you want. Always be prepared, know exactly what it is you are asking them for and what you are offering in return.
Personal letter
If you can call and speak to someone before you send a letter to let them know it is coming so much the better.
- Always address your letters to someone with a name!
- Always make your letter personal and speak to them about yourself with
their interests and concerns in mind. - Never send round-robin letters or photocopied general requests, it is a
waste of your time and money
Telephone
If you feel confident enough and have the name of the right person to speak to, call them and talk to them directly. It may feel uncomfortable as you will be selling your project to them, but if you enjoy this approach it is often successful.
Application forms
If you are applying to a trust or other grant making body the chances are you will have to fill in an application form. It is also a good idea to make initial contact with them to double check they fund the kind of work you are intending to do.
- Always send your application form with a covering letter briefly setting
out your case. - Always answer all the questions on the form and send any additional
materials asked for. - Always send your application in plenty of time before any deadlines.
- If it is an important application form, phone and check it has arrived.
After asking, follow up.
Keep a record of people you approach for money, what you asked them for, when and what their response was.
If you receive a positive response, write and thank them for their support. Take opportunities to show them that you used their money well and are grateful for their help. Let them know how the project develops, or what you did as a result of the money they gave you. Write to them and let them know your future plans. Send them your newsletter if you have one and give them a mention in it as well! Keep track of who is working with them, so if your contact moves on you will know who to approach next.
If you receive a "no, not at this moment in time" type of response, keep a record as they may wish to fund your work in future. You could find out if you approached them at the wrong time, or if they give to specific causes on a regular basis and how they choose them. They may still have the potential to become funders in the future. File your "Nos" as well. Not in the waste paper bin, but somewhere someone taking over your job of fundraiser will be able to find them, so they don't waste their time and energy chasing people you know aren't interested. The second thing about your "No" responses is not to take them personally. People will say no, for many different reasons. And remember, the best way to increase your success, is to double your failure rate!
