Fordham Law School is raising $ 100 million dollars in this economy. The head of their fundraising program, Julie Lucas, “follows the market” and as a result, they successfully landed a $ 1 million gift from bankruptcy lawyers.
Some organizations have seen donations plummet as the demand for their services increase and right now are looking for creative ways to secure new funding. As your organization seeks donors and partners, think of industries that fair well despite the economy. A great rule of thumb is to consider the sectors that thrive even when people lack disposable income.
Here are a few industries to consider:
Education: when the economy downsizes, so do jobs. The education industry may see a boom as transitioned adult workers go back to school to learn new skills
A few sectors of the healthcare industry will continue to be viable, especially with the state of the insurance industry.
Public Safety: Crime tends to increase during hard times, causing many industries to heighten their security measures.
Even some pharmaceutical companies are not feeling the crunch since medications are essential no matter what the times.
Vice industries including: Tobacco, Casinos, Alcohol and Erotic always seem to thrive in tough times. Many of these industries have corporate responsibility programs (including the Playboy foundation), and are very generous in the communities they serve. Be cautious before considering soliciting these industries. And be sure that their respective values are aligned with those of your organization, and that the partnership with these industries does not compromise the support and respect of your current supporters.