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Dinners With High Net Worth Individuals

 
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Justin Stone



Joined: 08 Feb 2005
Last Visit: 12 Mar 2007
Posts: 145
Location: Cambridge, MA USA
PostPosted: Tue Sep 27, 2005 9:19 am    Post subject: Dinners with High Net Worth Individuals Reply with quote

This is an extension of our earlier idea to have a larger dinner at Parwez Wahid's home. The idea now is to schedule several dinners over the next 2-3 months, during which one or two ADP members would pitch ADP (vision, approach, etc.) to small select groups of high net worth individuals.

In a short period of time, this approach has the potential to raise large amounts of money, as well as build a sense of investment in ADP among wealthy and prominent members of the community.

One question is how we approach these. Should one or two members develop a specialization in this type of fundraising, and do all of the dinners? Or, should we open this to everyone?

Bilal and Ali are getting this initiative started. Would you like to help plan the effort?

~Justin
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Omer Ismail



Joined: 15 Oct 2005
Last Visit: 10 Feb 2006
Posts: 1
Location: Boston, MA
PostPosted: Wed Nov 16, 2005 9:33 pm    Post subject: Organizing fundraising dinners Reply with quote

I am interested in leading the effort to organize these dinners. I think ADP has gotten a lot of positive attention recently and we can use this opportunity to build our donor base and raise money for earthquake-related and other projects. Before I delve into the specifics of how we might go about organizing this dinner, I want to throw out one question. Do people believe that these high net worth individuals will show up – or are we better off targeting them in even smaller settings like one on one? My sense is that they will come but I just don’t know these people well enough to know for sure.

Anyway, I believe that these dinners should target high net worth individuals who are interested in Pakistani development issues. I think the biggest challenge is to convince them of ADP’s model and what sets apart this organization from the other Pakistani-related non-profits. From a logistical stand point, it may make sense to have the first dinner in Boston and then gradually expand to other cities in the East and CA.

I think one way of organizing these dinners, is to divide the work into 3 different streams / sub-committees:

1. Invite List Committee. This committee should be involved in generating and developing the invite list. I think that an optimal number of guests on any given night is about 20-25. This committee should solicit names from all ADP members of high net worth individuals in Boston (who will be interested in this cause). The list should be divided into a couple of tiers based on perceived interest / likelihood to donate. If the number of total prospects exceeds 20-25, it will make sense to split them into a couple of dinners. I think that this committee should also be responsible for making sure that all these people show up for the dinner – really leveraging their contacts to ensure good turnout.

2. Presentation Committee. This committee should be responsible for developing a presentation, figuring out the speakers / presenters. Needless to say, the message we deliver will no doubt be critical.

3. Logistics Committee. As the name suggests, this committee should be responsible for the actual dinner logistics – picking a spot, food logistics, etc

This is just one way of going about it – I am by no means wedded to any of this. Just thought I would throw it out there to see what others think.
Look forward to hearing your thoughts. And if we go ahead, would love to know who might be interested in helping out.

Omer
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Tariq Qureshi



Joined: 04 Nov 2005
Last Visit: 30 Nov 2005
Posts: 1
Location: Boston, MA
PostPosted: Thu Nov 17, 2005 1:31 pm    Post subject: Reply with quote

I am also interested in helping with these dinners. Maybe we can have the dinner at a local restaurant instead of at a residence. It makes it a little more formal and perhaps gives the ease of a central location. The hard part is getting these individuals to attend and that will be no small task. If we give them an incentive, such as a free dinner, it will help but will still be difficult. What else can we offer to help get these people to come? Any ideas? The bright side is that there are a decent amount of wealthy people from the community that are interested in this type of thing to some extent anyway.
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Justin Stone



Joined: 08 Feb 2005
Last Visit: 12 Mar 2007
Posts: 145
Location: Cambridge, MA USA
PostPosted: Wed Nov 30, 2005 2:19 pm    Post subject: Reply with quote

Omer and Tariq,

Sorry I didn't respond sooner. I think the summary and breakdown sound great. I do think HNW people will come, but only under controlled circumstances. There will need to be a personal and reliable referral. Cold calling such people would not be successful (in my view).

An earlier idea was to have a prominent community member (Parwez Wahid) host the dinner(s) at his home, and invite selected guests. We could potentially do this through Parwez, Barry Hoffman, or somebody else. Or, we can contact HNW people through our own members' contacts, but this will be a limited crowd compared to the contacts of the older generation.

Regarding the venue and size of the evening, I think a restaurant is a possibility. My preference would be to have someone host it in their home, showing more of an investment in ADP, making the setting more intimate, and perhaps putting some additional incentive (or pressure) for giving... I do think the crowd should be very small: 1-4 couples plus the host and ADP member(s), or similar. Obviously, it will be more time-efficient for us to pitch this in groups, but we may find that we are not as successful as we would be one-on-one...

Those are just a few initial thoughts. I would like to see us start these evenings in early February if possible. Do you two want to take the lead on this, and bring the rest of us in whenever necessary. A next step can be discussing this outline in a meeting, and getting volunteers for the various committee assignments.

Great work getting this back on track, Omer. Thanks!

Justin
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