How to Ask the Rich for Money: 2 Tips for Soliciting Donations

Each year, hundreds of billions of USD are donated to charity worldwide. In the US alone, total donations reached nearly 287 billion USD in 2011. This shows that the wealthy have a budget available for sponsorship activities; the question is whether you know how to properly ask for sponsorship from the wealthy.

Many individuals, volunteer groups, and non-profit organizations in Vietnam feel uncomfortable when soliciting sponsorship, especially when approaching individuals with significant financial resources. However, without proactive fundraising, many meaningful projects will not be sustainable in the long run.

This article will help you understand:

• Why the wealthy are willing to donate if approached correctly

• How to ask for sponsorship from the wealthy in a professional, respectful, and persuasive way

• Important principles when soliciting individual sponsorship or for an organization

If you are looking for a practical approach to raise funds from benefactors, fundraise for community projects, or develop your organization, these are foundational strategies you should not overlook.

Tip 1: Strategy for Planning Sponsorship Requests

Step 1: Create a list of potential sponsors

Clearly define who you will approach

• If going door-to-door, select residential areas with high living standards or communities that align with the project's goals.

• If calling, emailing, or sending letters, you need specific sponsor data instead of random outreach.

• Avoid indiscriminate outreach. Effective fundraising is always based on strategically choosing the right people.

Prioritize past supporters

• Filter out individuals who have previously donated to you or similar projects.

• In actual fundraising, this group has a 40-60% higher re-contribution rate compared to completely new donors.

• This is the "golden segment" when conducting individual sponsorship outreach or fundraising for non-profit organizations.

Assess financial capacity subtly

• Observe their lifestyle if approaching directly (residential area, type of business, publicly available assets…).

• Research their business information if they own a company.

• Monitor their past sponsorship activities or participation in fundraising events.

Note: being wealthy doesn't automatically mean they will donate. The important thing is whether they have a budget for social activities.

Consider spending habits and social contributions

• Do they participate in other charity programs?

• Do they appear on any organization's donor list?

• Do they frequently sponsor education, healthcare, community initiatives, or startups?

Those accustomed to giving are more likely to agree if you present your request for sponsorship from the wealthy professionally and transparently.

Utilize data analysis tools

• You can use donor analysis software (Donor Search, Wealth Screening…).

• In Vietnam, you can leverage publicly available data from businesses, media, social networks, or community events.

• Data analysis helps you save time and increase the success rate when fundraising from benefactors.

Apply the ABC principle when selecting sponsors

This is the practical principle I have always used in over 20 years of fundraising:

1. Able – Has the financial capacity to sponsor.

2. Belief – Has a belief or interest in the field you are working in.

3. Connection – Has a connection or touchpoint with your organization.

When an individual meets all three of these criteria, the likelihood of success in soliciting sponsorship from the wealthy will be much higher.

Step 2: Understand the sponsor before making the request

Review previous donation history

• Check how much they have previously donated, when, and for which projects.

• Find out if they are interested in education, healthcare, environment, or social entrepreneurship.

• Note how they responded: quickly, carefully, or requiring more information.

This data helps you personalize the content when soliciting individual sponsorship, instead of sending the same message to everyone.

Understand what truly matters to them

• Some people want to know how the previous year's funds were used.

• Others are only interested in the total budget needed to be raised.

• Some want to see a transparent plan and specific, measurable results.

When you accurately answer the questions they have in mind, the likelihood of securing sponsorship will significantly increase.

Identify concerns and address them before they refuse

In actual fundraising, common concerns often include:

• Fear that money will not be used for its intended purpose.

• Concern about financial transparency.

• Doubt about the project's sustainability.

Instead of waiting for them to object, proactively provide expenditure reports, budget utilization plans, and commitments to transparency. This is an important step when applying the method of seeking sponsorship from the wealthy professionally.

Note individual reactions

• If a sponsor hesitates but still agrees to contribute, record their reasons for hesitation.

• See what additional information they needed before deciding.

• Maintain detailed records to optimize future fundraising from benefactors.

Smart fundraising means learning from every interaction and not repeating old mistakes.

Tailor messages to each individual

Some sponsors are persuaded by specific numbers.
Others are interested in stories of social impact.
Some only respond when they see a project aligns with their personal values.

Therefore, the content of the sponsorship request letter or call needs to be adjusted flexibly, without using a fixed script.

Work with assistants or representatives

Many entrepreneurs and wealthy individuals delegate sponsorship matters to assistants or CSR departments. In this case:

• Build a good relationship with the representative.

• Clearly present the benefits and impact of the project.

• Respect their internal procedures.

Representatives often share the same concerns about reputation and transparency as the sponsors themselves.

Step 3: Present your organization persuasively

Clearly answer 3 core questions

When introducing your organization, always ensure the listener quickly understands:

1. Who are you?

2. What problem are you solving?

3. How will the sponsorship create a specific change?

A practical example when soliciting sponsorship from the wealthy:
Instead of saying "We do educational charity," clarify "Every year in this locality, over 2,000 students drop out of school due to lack of funds. We are the only organization in this area that provides long-term scholarships until the end of high school."

A specific approach helps sponsors understand the problem and your role.

Prepare data and real-world evidence

Financially capable individuals are often interested in measurable impact. You should prepare:

• Number of people supported in previous years

• Achieved results (school return rates, employment rates, etc.)

• Budget utilized and financial transparency

While complex reports are not mandatory, when fundraising from benefactors, clear data will significantly increase credibility.

State the problem and solution in parallel

An effective formula in practical fundraising:

• Start with a noteworthy current situation.

• Point out a gap that no one has fully addressed.

• Offer a specific solution that your organization is implementing.

This presentation method simultaneously highlights the urgency and affirms the unique role of your organization within the social ecosystem.

Use illustrative materials when necessary

When approaching directly or submitting proposals:

• Prepare a concise, easy-to-read brochure.

• Include charts showing past results and future goals.

• Clearly present the budget needed and how it will be allocated.

Visual aids help those unfamiliar with your work quickly understand and build trust during the individual sponsorship outreach process.

Prepare for common objections

Put yourself in the shoes of a skeptic:

• "Why should I sponsor you and not another organization?"

• "Is this project sustainable?"

• "What happens if I don't sponsor?"

When you have convincing answers ready, you will be more confident and increase your chances of success in how to ask for sponsorship from the wealthy.

Aim for a long-term relationship

The goal is not just a one-time sponsorship. When sponsors understand what you do, see the actual impact, and perceive professionalism, they tend to stay involved long-term.

Step 4: Practice your sponsorship pitch thoroughly

Know exactly what you will say before meeting a sponsor

Don't just prepare the question "can you sponsor us?". Prepare the entire conversation structure:

1. How to open to build rapport.

2. Clearly introduce the problem.

3. Present specific financial needs.

4. Conclude with a direct and transparent offer.

When practicing fundraising from the wealthy, you need to know how to lead the conversation instead of waiting for them to ask.

Anticipate potential responses

Some common reactions when fundraising from benefactors:

• "I haven't been able to allocate a budget yet."

• "Send me more information via email."

• "I need to think about it more."

Prepare appropriate responses for each situation. For example: if they need more information, do you have a summary report ready? If they hesitate, can you offer flexible funding levels?

Being prepared helps you stay proactive and maintain the flow of the conversation.

Practice speaking aloud to sound natural

• Read and say your presentation aloud multiple times.

• Adjust your wording to suit your speaking style.

• Avoid rote memorization, as listeners will notice immediately.

An effective appeal needs to be authentic, not like a sales pitch.

Practice in front of a mirror or record yourself

If approaching in person:

• Practice in front of a mirror to observe your eye contact, facial expressions, and posture.

• Maintain a clear tone and moderate pace.

• Avoid speaking too quickly when nervous.

You can also record yourself to review:

• Does your voice sound trustworthy enough?

• Is your body language confident?

• Are you conveying the urgency of the project?

This is a step many people overlook but is extremely important in how to get funding from the wealthy.

Practice redirecting the conversation

In fundraising, you need to know how to bring the conversation back to the main point if it gets sidetracked. For example:

• If they change the subject, subtly link it back to the project's goal.

• If they ask technical details, answer briefly and then return to the social impact.

A good fundraiser not only speaks well but also knows how to control the flow of the conversation.

Tip 2: How to persuade the wealthy to donate

Step 1: Start the conversation correctly

Build connection before mentioning money

• Start with gentle questions: how's work lately, what areas is their business focusing on, are they interested in community activities.

• Show that you care about them as a person, not just as a funding source.

• Maintain a natural, unhurried tone.

When listeners feel respected, the likelihood of success in fundraising from the wealthy will be much higher.

Choose the right representative for outreach

If the donor is a prominent entrepreneur or has their own fund:

• The organization's leader or a reputable person should directly engage.

• A person of comparable standing will inspire more trust than a random associate making a call.

In reality, donors often respond more positively when approached by the head or an authorized representative of the organization.

Hint at the problem instead of immediately presenting the solution

An effective way to fundraise from benefactors is to start with questions related to the current situation:

• "In your opinion, what is the most worrying problem in the region today?"

• "How do you assess the situation of student dropouts in the local area?"

When they state the problem themselves, you have the opportunity to connect your solution to their specific concerns. This makes the conversation more natural and reduces the feeling of being persuaded.

Gradually lead to the funding goal

After gaining consensus on the issue:

1. Briefly share what your organization is doing.

2. Present the resource gap.

3. Make a clear and specific funding request.

Don't beat around the bush for too long. Wealthy individuals often appreciate directness and transparency.

Maintain a conversational tone, without pressure

• If they need time to think, respect their decision.

• If they ask difficult questions, answer honestly instead of avoiding them.

• If they are not ready to fund, maintain the relationship instead of ending it abruptly.

The goal is not just a one-time contribution, but building a long-term relationship. A sincere conversation today can open up great opportunities in the future.

Step 2: State the purpose clearly at the right time

Friendly opening but with direction

• Briefly inquire about their work, recent projects, or general topics.

• Create a relaxed atmosphere, but avoid dwelling on small talk for too long.

• Observe their reactions to choose the right moment to switch topics.

A conversation should be long enough to build connection, but not so long that they feel you are beating around the bush.

Smoothly transition to the main objective

After the initial exchange, you can lead into the main content with a simple structure:

1. Introduce your role in the organization.

2. Briefly state the existing problem.

3. Present the goal you are trying to achieve.

A real-world example when fundraising from the wealthy:
"I am currently involved in a project supporting students in remote areas. We need additional resources to help 150 students continue attending school next year."

This approach is direct but not pushy.

Avoid creating a feeling of being forced

If you talk for too long without stating your purpose, when you finally mention money, the listener might feel surprised or that there's a lack of transparency. Conversely, if you jump straight to the funding request, they might become defensive.

The solution is:

• Stay calm, maintain a natural tone.

• Don't apologize too much when mentioning funding.

• Don't prolong it excessively before stating your objective clearly.

Clarity helps build trust in fundraising from benefactors.

End with a specific funding proposal

Once you have presented your case, make a clear proposal:

• What is the proposed funding amount.

• How the funds will be used.

• Implementation timeline and results reporting.

Financially capable individuals often appreciate transparency and specific goals. In how to get funding from the wealthy, clarity does not diminish goodwill; on the contrary, it shows you are professional and respect their time.

Step 3: Let the donor speak

Ask open-ended questions to encourage participation

Instead of continuously presenting, ask:

• "In your opinion, what is the biggest problem in the community right now?"

• "What do you think is most affecting young people in this area?"

Open-ended questions help shift the conversation from monologue to dialogue. This is an important technique in fundraising from the wealthy because it makes them actively think.

Listen instead of rushing to persuade

When they respond:

• Do not immediately transition to a funding proposal.

• Respond briefly with phrases like "That's a very interesting point" or "I understand why you're concerned about that."

• Maintain a bit of silence and show genuine interest.

Intentional silence often prompts the other person to say more. And that additional input is key.

Tap into personal interests

Many donors will share:

• They have witnessed this problem in their family.

• Their business has been affected by the situation.

• They have previously supported a similar project.

When the story shifts from "general problem" to "personal experience," you have an opportunity to connect your project with their emotions and values. This is a crucial step in fundraising from benefactors.

Connect your solution with what they just shared

After they've spoken, you can guide the conversation:

1. Summarize their concerns.

2. Point out that your project directly addresses that issue.

3. Propose their collaboration to create specific change.

At this point, the funding request is no longer a general ask, but an opportunity for them to contribute to solving the very thing they care about.

Step 4: Make a specific funding proposal

Propose a specific figure

• Instead of saying "Can you provide funding?", say "With 50 million VND, we can provide scholarships for 10 students for one year."

• A specific figure helps them immediately visualize the impact created.

• The proposed amount should be based on pre-researched financial capacity.

In the practice of soliciting donations from the wealthy, when you proactively state a figure, you are demonstrating serious preparation and respect for their time.

Tie the amount to clear outcomes

An effective formula:

1. State the amount.

2. Point out the specific actions that amount will enable.

3. Emphasize measurable social impact.

For example:
“With just 100 million VND, you can help build a standard classroom for 40 children in the area.”

When money is tied to specific outcomes, the decision to donate becomes much easier.

Give donors options

Another approach in fundraising from philanthropists is to ask leading questions:

• “Would you consider a donation of 100 million for this item?”

• “Would 200 million be suitable for you to join us in the initial phase?”

This way of asking is both clear and makes them feel like they are actively making the decision.

Avoid vague proposals

If you don't propose a specific amount:

• Donors might delay because they don't know what amount is appropriate.

• They might contribute much less than their actual capacity.

• Or worse, they end the conversation without a specific commitment.

Clarity creates action. A specific proposal isn't about pressure, but about making it easier for them to say “yes.”

Step 5: Be persistent but don't pressure

Understand the true meaning of rejection

When a donor says "no," it could be because:

• The proposed amount exceeds their current budget.

• They haven't seen a clear impact.

• The timing isn't right.

Don't rush to conclude they aren't interested. In the practice of soliciting donations from the wealthy, many large donations come after an initial rejection.

Be flexible with donation amounts

If they think the amount you proposed is too high:

1. Acknowledge and respect their opinion.

2. Emphasize that every contribution has value.

3. Propose a lower, more suitable option.

For example:
“If 200 million isn't suitable right now, would you consider 100 million for the initial phase? That amount would still help us implement a crucial item.”

This flexibility helps maintain opportunities in the fundraising from philanthropists process.

Maintain a calm and professional demeanor

• Do not argue.

• Do not show disappointment.

• Do not make the listener feel guilty.

Instead, show confidence that your project deserves support and that you are committed to a long-term partnership.

Be persistent in building relationships

Persistence doesn't mean coercion. It means:

• Following up after a reasonable period.

• Updating project progress even if they haven't donated yet.

• Staying in touch with valuable information, not just when you need money.

The goal is not just to close a deal today, but to build enough trust for them to continue their support for many years to come.

Step 6: Always say thank you, regardless of the outcome

Thank them sincerely when they agree

If the donor accepts to contribute:

• Send a clear and direct thank you.

• Emphasize the specific impact their donation will make.

• Confirm next steps: receipt, progress reports, results updates.

For example:
“This donation will help 50 students continue attending school next year. We will send detailed reports so you can track the results.”

Transparency and appreciation strengthen trust in soliciting donations from the wealthy.

Maintain a positive attitude when they decline

If they are not ready to donate:

• Thank them for their time.

• Do not show disappointment or pressure.

• End with a polite and professional wish.

A simple phrase like “Thank you for your time. I wish you a productive day.” is sufficient.

In fundraising from philanthropists, how you handle rejection demonstrates the professionalism of your organization.

Understand that decisions can change over time

Today they say “no” because:

• Their budget is not suitable.

• They don't fully understand the organization.

• They are not genuinely interested in the issue.

But next year, when:

• They read more about the project.

• Their business develops better.

• Or they themselves are affected by that issue.

The decision could be completely different.

Build an impression to pave the way for the future

A professional approach, even if not immediately successful, still brings value:

• Increases awareness for the organization.

• Sows initial trust.

• Creates a foundation for a long-term relationship.

Every conversation is an investment in the future. When you show respect and gratitude, you not only protect your image but also keep the door open for future opportunities.

Step 7: Follow up and nurture after donation

Send a thank you letter immediately

• Send a thank you letter within 24–72 hours of receiving the donation.

• The content should be personalized, using their correct name and reiterating the purpose of the donation.

• Emphasize the specific impact the money will make.

In soliciting donations from the wealthy, speed and sincerity demonstrate the professionalism of the organization.

Provide clear receipts and documentation

• Send a receipt with complete information: amount, date received, purpose of use.

• If there is a tax deduction policy, clear instructions should be provided.

• Keep records for convenience for future donations.

Financial transparency is a core element when fundraising from philanthropists long-term.

Provide regular progress and results updates

Don't just contact them when you need more money. Instead:

1. Send progress reports quarterly or according to project phases.

2. Share real stories from beneficiaries.

3. Provide measurable results achieved.

When donors see their money creating clear change, they will be more inclined to continue contributing.

Turn donors into long-term partners

Instead of seeing them as "givers," view them as companions:

• Invite them to organizational events.

• Update them on future development plans.

• Listen to their feedback.

The highest goal is not a sum of money, but a sustainable relationship. Good post-donation care is the foundation for building trust and expanding resources for many years to come.

Personalize your appeal for each donor

Find common ground before proposing a donation

• Observe which fields they are interested in: education, healthcare, environment, startups…

• Listen to personal stories they share during conversations.

• Consider community activities they have participated in or sponsored.

When you connect your project with what they genuinely care about, the effectiveness of soliciting donations from the wealthy will significantly increase.

Tailor your message to each individual

Practical examples:

• For an education entrepreneur, emphasize the long-term impact on the younger generation.

• For a local business owner, highlight the benefits for the community where they operate.

• For someone who has experienced similar difficulties, emphasize the humanistic factor and personal story.

This is the art of fundraising from philanthropists: saying what they care about, at the right time.

Always say thank you, regardless of the amount

• Thank them for both large and small donations.

• Do not differentiate your attitude based on the value of the contribution.

• Show that you value their trust more than the numerical amount.

A small contribution today can become a significant partnership in the future.

Turn empathy into a long-term relationship

When donors feel:

• They are heard.

• Their values are respected.

• Their money creates real impact.

They don't just fund once; they can become long-term strategic partners.

References

1. Entrepreneur. (2004). Business financing: Deciding who to ask for money. Retrieved from https://www.entrepreneur.com/money-finance/business-business-financing-deciding-who-to-ask-for-money/83792
2. DonorSearch. (n.d.). DonorSearch wealth screening and prospect research tools. Retrieved from http://www.donorsearch.net/
3. Business Insider. (2013). How to fundraise effectively. Retrieved from http://www.businessinsider.com/how-to-fundraise-2013-5
4. Wu, R. (n.d.). Digital fundraising & crowdfunding expert. Expert interview.
5. The Wall Street Journal. (2011). Article on fundraising and philanthropy trends. Retrieved from https://www.wsj.com/articles/SB10001424052970204394804577007843506174390
6. The Guardian. (2013). Charity major donor fundraising and philanthropy strategies. Retrieved from http://www.theguardian.com/voluntary-sector-network/2013/sep/30/charity-major-donor-fundraising-philanthropy
7. Fundraising Coach. (2012). Two phrases to use when asking for money. Retrieved from http://fundraisingcoach.com/2012/05/08/2-phrases-to-use-when-asking-for-money/
8. KnowHow Nonprofit. (n.d.). How to approach local businesses for donations. Retrieved from http://knowhownonprofit.org/how-to/how-to-approach-local-businesses-for-donations

Translated by: Ashley Wright Nguyen.