A Cost-vs.-Revenue Analysis of NYC's Fundraising Galas

A Cost-vs.-Revenue Analysis of NYC's Fundraising Galas: "Intelligencer
Blowout Galas
They raise lots of cash for MoMA and Multiple Sclerosis�but at what price? A cost-vs.-revenue analysis.
By Petra Bartosiewicz
Even nonprofits have to spend money to make money, but how much is too much when it comes to throwing a benefit?
�You want to have a beautiful gala that's how you build your donor base, says Toni Goodale, of the fund-raising and consulting firm Goodale Associates. And securing the best caterers, venues, and entertainment adds up. The Princess Grace Foundation USA, for example, raised more than $1 million at its lavish gala at the Waldorf-Astoria in 2003. But the party cost more than $700,000, or 66 percent of its revenue. The event is extremely elegant, insists development director Theresa Dorey. �I don�t think the foundation is willing to step back on that level of production.