It's a challenge to raise money from the megawealthy: They are getting more selective and more demanding, say seasoned fundraisers.
What inspires wealthy donors to give and what works best to persuade them to donate large sums?
In the transcript below a philanthropist and a veteran fundraiser share their personal experiences in the big-gift solicitation process and offer tips you can put to use right away.
Robert Hurst is a managing director at Crestview Partners, a former vice chairman of Goldman Sachs, and chairman of the board at the Whitney Museum of American Art and the Aspen Music Festival. He also serves on the boards of the Aspen Institute, National Gallery of Art, and Central Park Conservancy, among others.
Ron Schiller is senior vice president at Lois L. Lindauer Searches, a recruiting company. Previously, he has been a fundraiser at numerous nonprofits, including the University of Chicago, where he completed a $2.3-billion campaign and helped arrange two gifts of $100-million or more.
Holly Hall is features editor for The Chronicle of Philanthropy and has been covering nonprofit fundraising for more than two decades.