Sponsorship

 

Sponsorship at MIT Sloan

Overview of sponsorship at MIT Sloan

MIT defines a sponsorship as an outside person's provision of anything of value to a student group or initiative to support that group/initiative's activities, in exchange for valued consideration from the group back to the sponsor. A sponsor can be an individual, non-profit or for-profit corporation, or government entity, and the value provided by sponsors commonly includes funding, goods, and services, among other things.

Drilling down deeper, there are technically two basic types of sponsorships for student initiatives: academic gifts and corporate sponsorships. Most sponsorships are not recognized as academic gifts given the quid pro quo nature of the agreements. Below is an explanation of both types:

  • Academic gift: sponsor is recognized as an academic donor to MIT. Sponsor does not receive any benefits from the club in exchange for the gift (e.g., tickets, event tables).
  • Corporate sponsorship: sponsor is not recognized as an academic donor to MIT. Club can offer limited benefits to the sponsor, such as advertising, event tables, and other limited perks. Please see the Office of Media Relations document: Promotion of Corporate Hosts and Sponsors: Aligning with MIT's Use of Name, Policies and Procedures

Please make sure you submit a sponsorship tracking form if you are expecting to receive funds from a sponsor: this will allow us to track any money you may be expecting.

What you need to know before raising sponsorship at MIT

  • All companies must be vetted by MIT before you contact the companies to solicit sponsorship. Submit a list of companies to the Student Life Office slquestions@mit.edu for vetting and approval. List should be submitted as an Excel Doc that includes Full Company Name, Location of Company/Branch, and Type of Business.
  • Use the Sponsorship Commitment Letter & Invoice Template for all sponsorships (required). Communicate to your sponsor that this is required by MIT to maintain uniformity in terms across sponsorships.
  • Never offer sponsor use of the MIT Sloan/MIT logos. Click here for dos and don’ts of using the MIT name.
  • You may not sign any document on behalf of MIT or MIT Sloan. If a sponsor gives you a document requiring a signature, contact Sloan Student Life.
  • By law, donations made for a specific purpose can only be used for that purpose. For example, if you request money to fund your conference, then it can only be sent on the conference; any left-over funds must stay in the account until the conference occurs again. We recommend that your solicitation documents be broad enough to cover all the activities for which you may potentially need funding.
  • Student funds may not be used for alcohol, either directly or indirectly. If you want an outside group to fund any alcohol costs, reach out to Sloan Student Life to explore options that work within MIT policies and City and State laws.

Sponsorship solicitation process checklist

1. Build your prospect list:

  • Identify potential supporters of your event or initiative and create a comprehensive list in Excel.
  • Be strategic, and think outside the box, including any company that could have a connection to your initiative.
  • Research past sponsors. Then, identify the point of contact within the company. It's best to start with any personal connection that you or a team member may have to the organization.
  • Remember: You can ask for sponsorship of meals from restaurants, and ask for sponsorship of specific components of your event – VIP Reception, Breakfast, etc.

2. Submit your list of potential sponsors to the Student Life Office
Please submit the full list of potential sponsors to slquestions@mit.edu. Please provide the list in excel and include the following information: full name of company, location of company, and type of business.

3. Prepare and make your pitch:

  • Build sponsorship levels and materials that advertise the benefits.
  • Determine ask amounts – decide prior to asking what you're going to ask for, and be sure to ask for a specific amount in your communication.
  • Send an email and either attach, or include within the email, a formal solicitation letter explaining your initiative, the theme or goals, and why the partnership would be strategic for the company. Also highlight any benefits that would come with that level of sponsorship.

4. Follow up on your ask:
If you haven't heard back after a couple of days, follow up with a phone call or email. Do not be afraid to call on the phone as that may be what stands out from other solicitations. Continue to follow up until you have received a response.

5. Send sponsorship commitment letter & invoice:

  • Use Sponsorship Commitment Letter & Invoice Template for this, filling in the necessary details on your event and the sponsorship they have committed to. Payment options are listed in the invoice section of the template. MIT can accept gifts or sponsorships by check or by bank wire and electronic (ACH or ECH) transfer.
  • The sponsor may also want MIT's W9 or Bank and Trade Reference Sheet. If they need additional information or a signature from MIT, contact the Student Life Office.

6. Submit the sponsorship tracking form if you are expecting to receive funds from a sponsor:
This will allow Student Life to track any money you may be expecting.

7. Send a thank you:
Whether or not the company agrees to sponsor your initiative, send a thank you email to anyone who helped you through the process of asking. They may not be able to sponsor this year, but it is best to keep up good relations in case students in future years want to reach out again.

8. Track all of your progress:
This will enable future organizers to solicit for sponsorships with a knowledge base and help them to maneuver in years to come. Being smart about how you build relationships with a company can result in a lasting sponsorship over several years.

9. Follow up:
Track the money until you see it in your account. This process is not complete until the money shows in your account. This may involve following up with the sponsor and asking for help from our Account office (Sloan Student Life can support with internal MIT support).

Sample Sponsorship Levels:

Diamond Sponsor / Networking Event Sponsor

Exclusive sponsor of the cocktail Networking Event on Saturday evening before the conference:
1. A representative of your company will say a few words at the event
2. Your company's 4-4-color logo will appear on signage at the cocktail event

Sponsor's 4-color logo is highlighted above Gold and Platinum sponsors on:
1. Conference website
2. Registration email blast to 2,000 real estate graduate students and professionals
3. Signage at the event

Receives full page black and white ad of your choice (or thank you sponsor ad) in the conference brochure given to each attendee and speaker

Receives attendee registration email list of 2,000 real estate graduate students and professionals after the event

Platinum Sponsor

Sponsor's 4-color logo appears above Gold sponsors on:
1. Conference website
2. Registration email blast to 2,000 real estate graduate students and professionals
3. Conference brochure given to each attendee and speaker
4. Signage at the event

Gold Sponsor

Sponsor's name appears on:
1. Conference website
2. Registration email blast to 2,000 real estate graduate students and professionals
3. Conference brochure given to each attendee and speaker