Finance

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Finance

  1. 1. Finance Plan $$$
  2. 2. Finance Plan Your financial plan should consist of four parts:  Summary – List fundraising programs  Narrative – a detailed description of each program  Calendar – event dates, literature drops and deadlines  Job Descriptions – should be written for each member of fundraising team
  3. 3. Finance Committee  Appoint a Finance Committee that will be responsible for planning and orchestrating a successful fundraising plan.  The head of your Finance Committee should be:  an individual with a high profile in the community  Organized  has the ability to implement the finance plan and solicit donors.
  4. 4. Why People Give Access - Challengers don’t have it Ideology – Strong believers in conservative principles or fearful of liberal agenda Peer Influence – People who know and like you
  5. 5. How do I get donors to give me money? ASK THEM! Regardless of how the request is made, remember to convey three things to all donors:  Urgency: A donation is needed as soon as possible  Specificity: Outline how the Committee spends its money. It is important to demonstrate that the committee has its spending priorities in place  Electability: Tell them why you can win if you have the proper funding
  6. 6. Donor Groups One Size Does Not Fit All  Friends and Family  Ideologues  Major Donors  Direct Mail Donors  Clubs/Committees  PACs
  7. 7. Where Do I Find Potential Donors? Friends and Family The Rolodex Strategy: Groups where you will have the most success:  Family, colleagues and friends  Business Associates  Social Clubs  Country Clubs  Church  Vendors (if applicable)  College Alumni Lists
  8. 8. Where Do I Find Potential Donors? Ideologues  Previous donors to Republican candidates, PACs, and causes Note: Committees can legally obtain lists of donors to Massachusetts state candidates and committees at the Office of Campaign and Political Finance www.state.ma.us/ocpf  Professional Organization Member lists (AMA, Chambers, NFIB, NRA)  Petition Signers (Tax Rollback, Marriage Amendment, Local Petitions)  VoterVault!
  9. 9. Major Donors  Important part of your effort to raise capital  Recruited through personal solicitation of:  Town Committee Chairman  Finance Chairman  Local Republican elected officials
  10. 10. Major Donors  Establish levels of club  Target individuals to be new membership: major donors.  Local business owners  Active Members $50  Silver Elephants $100  Major donors to Republican  Golden Elephants $500 candidates  Diamond Elephants $1,000  Current donors who could move up to a higher level  Try to find some connection between a member of the Finance Committee and the prospective major donor  Set up a meeting where you outline the campaigns goals and plan for attaining them  Demonstrate the impact their contribution will make on the campaign’s political operations
  11. 11. Successful Solicitation of Major Donors: Sell Yourself!  Be optimistic, sincere and excited about the campaign  An investment in a better future based on his/her values & ideals  Be Flexible. Close the deal when you sense the person is ready  Look at the situation from the potential donor’s point of view  Communicate on their level  Tell them how the money will be used  Ask for names of other people who might be interested in involvement
  12. 12. Major Donors  Make these donors a part of your campaign  Keep them informed of your progress and activities  Solicit their input throughout the campaign  These donors can help you expand your rolodex network
  13. 13. Fundraising Letters  Who Should be Mailed?  List of local active donors compiled by the Committee  Acquired lists  Registered Republicans in your community  Targeted groups – use VoterVault for this  Who Should Sign It?  Candidate  Local Republican elected official  Content  Why are you running?  What is planned for the coming election cycle?  Urgent PS: Watch your spelling/grammar!
  14. 14. Events  Special events  Raise money  Increase awareness  Build excitement  Establish a realistic target figure to be raised (after expenses) and work backward from there.  Secure a speaker for your event  Where possible, look to utilize donated space and resources.
  15. 15. Groups and PACs Solicit Donations From:  Town Committees  Like Minded Political Action Committees (PACS) i.e. NFIB, NRA, GOAL, CLT Approach these groups as you would Major Donors
  16. 16. DO NOT:  Over-sympathize with your prospect. Never begin with, “I know it’s a lot to ask, but…”  Leave without a firm commitment or a check in hand.
  17. 17. Campaign Finance Rules  The Massachusetts Office of Campaign & Political Finance (OCPF) is the body that regulates your committee’s financial activities.  They exist to assist Party committees, PACs, and candidates in adhering to the finance laws that the legislature enacts.  Resources are readily available for you to stay in compliance with campaign finance laws.  Visit their website at: www.state.ma.us/ocpf for more details.
  18. 18. Some Quick Points:  Government employees may neither solicit donations, nor may their name ever appear on an invitation for a fundraising event - not even if donations are merely “suggested.”  A donor may contribute up to $500 to a local candidate committee  You must report the name and address of every contributor whose annual contributions are more then $50.  You must report the employer & occupation for every contributor whose annual contributions are more then $200.

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