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January 27, 2009, 03:51 PM ET
Treat Donors Like Investors, a Top Philanthropist Urges
The philanthropist Lorry I. Lokey has some simple advice for fund raisers who want to cultivate strong relationships with wealthy donors: be friendly, no matter what.
Mr. Lokey, a businessman who has appeared on The Chronicle‘s list of America’s top donors every year since 2000, said in a live online discussion with readers that he works best with fund raisers who treat him as an investor — not as an ATM machine.
“I like gift officers who approach me on a peer level and truly are friendly whether or not I say yes. And if I become a donor, I, in effect, am adopting that organization as if I worked there or owned it or had close experience ties with it,” Mr. Lokey says.
“It becomes an investment that I want to follow and see success. My grants are not gifts. They are investments.”
To read the rest of Mr. Lokey’s thoughts on fund raising and philanthropy, read the transcript of today’s live discussion.
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