Succeeding With Sponsorships
Public/Private Partnership: American Express partners with many nonprofit organizations to promote entrepreneurship, but even more impressive is how it's moving millions to make a difference for women by working with Count Me In/Make Me a Million Dollar Business. countmein.org
Bold ideas can come from a variety of sources. Subscribe not only to the great industry publications, but also to the many e-newsletters and publications outside of the fundraising and nonprofit world that can help give you a competitive advantage. The sites below highlight the types of events and programs currently being sponsored and by whom, as well as offer peer and professional insights to help you succeed with sponsorships:
- New York Enterprise Report
Trends show that companies are moving away from supporting annual benefits and are looking for more concrete programs to support. The money for these sponsorships largely comes from marketing department budgets, followed by corporate foundation budgets. So remember these tips:
- Sponsors re-evaluate their budgets every six months, so you should as well.
- Maintain a running list of potential sponsors, and keep a file on them. Share this information with your board and contacts. Next on everyone’s sponsorship target list: BP — think Philip Morris and Altria post tobacco lawsuits.
- Keep up-to-date with new changes in IRS regulations regarding sponsorship contributions, and document everything.
- Be sure to share your wins beyond your boardroom; you never know where your next sponsorship lead will come from.
- Many consultants in sponsorship offer free consultations to evaluate your current approach and offer new suggestions.
- Consider attending IEG's annual conference each March for those looking for substantial multilevel or multiyear sponsorships.
Sponsorship is not a science — it’s a craft, and you have to be prepared to not take “no” for an answer. Get out there, leverage your mission and create your own success.