How I Raised $10k In Two Months: Sponsorship Tips By Alexie Young

Last June I launched the first annual Art West Gallery Tour on the Westside of Chicago! Most people had no idea there were a variety of beautiful galleries available “Out West” and it was my first shot to debut a tour that would reshape the sad perception of Chicago’s beloved Westside. Imagine an art-crawl-day-party touring through North Lawndale, and East Garfield Park to explore the arts and culture spaces like the MLK Exhibit Center, Legendary Art Gallery, and 345 Art Gallery. Our budget of $10k is what made our event successful and it took a little over two months to raise that amount from sponsors. 

Nearly a year ago, I reached out to the founder of the BOSS Network, Cameka Smith, and I asked her what was the best way to acquire sponsors for an event. Her response was “It’s all about relationships.” I spent some time pondering what relationships I already had and the ones that I need to develop in order to get the support of the vision. If you’re fresh into hosting events for here are helpful tips to prevent you from dipping into your personal funds.

Tip #1 Find a fiscal agent!

The truth about some sponsors is that they want to support you, but sometimes they simply can’t if your business is for-profit. Some agencies only give funds to non-profit businesses. There’s a way around it. Find yourself a fiscal agent whom you trust to allow your sponsors to write a check intended for your event that will be received by your fiscal agent. I found a reputable organization that was a 501c3 entity. They supported my vision and signed a partnership agreement. I paid 10% in admin fees so they could handle all the tax-deductible funding that we received for the tour. Moving forward I can now afford to file my own 501c3. Nevertheless, this allowed us to receive fairly large amounts of sponsored funding from large agencies without actually being a non-profit at the time.

Tip #2 Write the vision and make it plain!

Draft a solid sponsor letter. You can find examples of sponsor letters on the internet. Find one that you can use as a template. Make sure it includes a clear vision of what you are trying to accomplish, how many people it will impact and how it aligns with the mission of their brand. Companies allocate funds for giving each year, so make your ask enticing for them.

Tip #3  Follow a process when approaching sponsors!

Create a list of people you can directly contact you may take interest in sponsoring your event. Find a person that you have a relationship with that could be a resource. 

Create a spreadsheet of the contacts and stages of your ask. For example, keep a note of your points of contact, scheduled meetings, submission of the sponsor packet, received a response, and accepted funds. 

Learn more about Alexie:   www.invizioncolorz.com  Twitter @invizioncolorzinc