Loomio
Thu 20 Oct 2016 5:18PM

2017 sponsorship levels

DE Derek Eder Public Seen by 445

For 2017, we are going to need to raise at least $42k to continue running Chi Hack Night in it's current form. Right now that has been done through a series of 10 different sponsors at varying levels of support.

With new programs already starting (ASL interpreter) and on the horizon (paying for blog posts), I estimate the budget for 2017 will be in the $50-60k range.

So, starting in 2017, I'd like to start a 3 tiered system of sponsorship. This models what our current sponsors are paying, though each one was negotiated separately.

Here's a draft document that I will share with potential sponsors. It gives an overview of our community and organization, as well as benefits of sponsorship. I have also outlined the three different tiers.

https://docs.google.com/document/d/1K1Bx8sIW57ghZ9ZVvVZigQFDEVUZAgmJWBZZdPhsp5c/edit#

Comments and feedback are welcome! I could especially use some ideas on ways to differentiate the levels of sponsorship other than the number of events sponsored.

BV

Brittany Vacchiano Tue 1 Nov 2016 12:34AM

Sorry for the late reply on this one:

I think you should consider increasing your sponsorship levels by $2000-$3000 per level. Just one sponsor at lowest or middle tier in this increased sponsorship plan would allow you to adequately pay for a Sign Language Interpreter to come to ~20 of your events per year at $126/event. The additional sponsorship money would also allow you ~20 paid blog posts per year at $100/post (that's almost 1 post per event). At the highest tier, say you raise the sponsorship by $3,000 - that could with enough funds to meet with lawyers or advisors to see the +/- about becoming a 501(c)3 or other public org. The rest of the money that you would be getting in your sponsorship plan listed above would cover regular operational costs with room to grow your organization (ie as you become more and more popular, you might have to order more food, supplies, rentals, etc).

As an outsider of ChiHackNight looking in (since I'm not heavily involved in the leadership of the organization), I can see that you really do have a solid organization which will continue to grow. As you grow, gaining more completed projects or project ideas & a bigger follower base, companies will be ever more apt to sponsor. You should not be scared to ask for more money per tier, because you have very legitimate reasons to ask for more money that companies would be eager to back. Your leadership may have to work harder to get sponsors at these tiers, but it is possible. You could even open up sponsorship breakout at one of your hacknights where you have attendees reach out to organizations trying to land sponsorships or promoting sponsorship on social media. Thsi could also be a time where interested companies can ask questions or negotiate their sponsorship.

It is important to note, though, that sometimes it is good to make a smaller tier - let's call it a 4th tier - that allows smaller companies to get their foot in the door with your organization. Funds from their sponsorship could support tshirts for the org, stickers, & other random costs not accounted for in regular financial plans.

I have alot of experience gaining sponsors from the hackathon that I created at Purdue called BoilerMake, so please let me know if you have questions or need advice. I can work with you at an upcoming hacknight to get some financials in a spreadsheet where you can compare & try out varying sponsorship levels / costs.

Thanks!

DE

Derek Eder Tue 24 Jan 2017 3:54AM

Thanks for this feedback @brittanyvacchiano!

Here's the final version of the 2017 sponsorship doc: https://docs.google.com/document/d/1K1Bx8sIW57ghZ9ZVvVZigQFDEVUZAgmJWBZZdPhsp5c/edit

We are going with 4 levels, one for each of Chicago's stars:

  • 4-Star Sponsorship: $15,000 / year
  • 3-Star Sponsorship: $6,000 / year
  • 2-Star Sponsorship: $2,500 / year
  • 1-Star Sponsorship: $1,000 / year