Thursday, April 29, 2010

Grants from Wealthy Individuals

Wealthy individuals give millions of dollars to schools each year. This is a type of grant that schools often overlook. Some wealthy people set up foundations to give a portion of their money to schools and other non-profit organizations. Others do not go through the formality of setting up a foundation. They give money to non-profits as a tax benefit or simply because they are generous human beings.

I have seen from hundreds of dollars to millions of dollars donated to schools by wealthy individuals. Most of the time these wealthy folks who donate money to schools have close ties with the school or the school’s community.

They may have attended the school and have fond memories of their time there. They often see their school as one that either had high standards and needs additional money to maintain those standards or a school that has let its standards slip over the years and needs money to revitalize itself. Perhaps their children or grandchildren attend the school or live in the community.

If these wealthy individuals did not attend your particular school, they may still take an active part in the community, and schools are a very large part of any community. Maybe their company is a large employer in the area, and it is vital to them that the schools continue to produce a quality work force.

Most of the time a very direct link needs to be established between that wealthy person and the school or organization seeking funds. Once it is, grant money may be sought just once for a special project, or you may wish to establish an ongoing relationship for projects that may be especially meaningful to the donor.

Either way, wealthy people in your community should never be overlooked as a source of grant money. It’s true that some wouldn’t give you a penny regardless of the cause. Others are very generous, however, and they get a good feeling by giving something back to their schools and communities.

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