News nonprofits need to spend more time courting rich donors
PLUS: Semafor’s responsible growth strategy
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News nonprofits need to spend more time courting rich donors
Given the tumultuous economic landscape for local news, many outlets are turning to nonprofit models because they offer extra flexibility for generating revenue. But while these outlets have been adept at attracting foundation grants and small donor memberships, they’re not doing enough to cultivate relationships with the wealthy members of their own communities, many of whom can write much larger checks than your average reader.
At least that’s the thesis of Julie Rafferty. She not only has a deep background in nonprofit consulting, but she also played an instrumental role in co-founding Brookline News, a nonprofit media outlet that operates outside of Boston.
In a recent interview, Rafferty walked through how she got wealthy members of her city to fork over $100,000 before the outlet even launched, and she gave some good advice for how other nonprofit newsrooms can identify and reach out to rich people in their own communities.
Check out our interview in the video below:
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