When I first heard of a family office, I thought it was a fancy way of saying a family business. Boy, was I wrong! Family offices are a way for families to manage their wealth – as if that wealth was a business. This can include managing family investments and companies, estate planning, education planning, vacations, and philanthropy.
When meeting a new prospect, it’s quite exhilarating to find out that they are philanthropic and have given generously to other organizations. But occasionally, fundraising professionals may find a gap between what the prospect says and what is publicly available. Why? This article addresses that question!
Corporate sponsorships – they are everywhere you look! The concept seems simple: in exchange for advertising and branded materials at the event/location, the company financially sponsors the occasion. It has been the bread and butter of the corporate world for decades. But if that is all you are asking for, you are only touching one piece of the big puzzle of corporate philanthropy. There is so much more to corporate fundraising than just sponsorships.
Imagine that you board a plane and just when you have reached altitude, the pilot comes on over the microphone and tells you that although you are scheduled to land in two hours, there is no fuel gauge. The pilot tells you they are optimistic and determined to arrive on time anyway. Would you believe me if I told you this is the way many organizations start their capital campaigns? It’s true!
The report was full of so much valuable information, we decided to split it into two blog posts.
The 2023 Bank of America Study of Philanthropy report is the 9th biennial examination about philanthropic attitudes, priorities, and more for affluent US households in 2022. It is written as a collaboration between Bank of America and the Indiana University Lilly Family School of Philanthropy. It is based on 1,623 wealthy US households, defined as either a net worth $1M+ or annual household income of $200K+. The average mean income was $523,472 and average mean wealth of $31M.
It’s been a bumpy road for cryptocurrency over the past year. In 2021, cryptocurrency did not seem to have any limit to its heights but in 2022, the crash came. Many predicted it was the end of crypto. But 2023 has been an interesting year with the price of Bitcoin rising again. The Giving Block, a full-service crypto exchange solution provider, predicts that over $1B in cryptocurrencies will have been donated by 2027. Boston Consulting Group forecasts that the crypto market will grow significantly by 2030.
Read More »Introducing Volatile Opportunity: A Guide to Cryptocurrency and Fundraising
The report is the 27th annual world wealth report by Capgemini Research Institute. The report analyzes the state of wealth and wealth management across the world in the prior calendar year. The report focuses on High Net Worth Individuals (HNWIs) defined as individuals with assets of $1M+ and over.
Asking for a major or transformative gift is a little bit like asking someone to marry you. You’ve (likely) been dating one another for a while and know quite a bit about your respective interests. Maybe you’ve discussed marriage; perhaps you haven’t. Ideally, you have an idea that the other person will actually say “yes.”
For some prospects, it’s easy to know how they made their money. For instance, if they are a CEO or some part of the C-suite at publicly traded firm, there will be information about their salary, stock and other types of equity (like stock options and restricted stock units).