With the gala season in full swing, such delicate conversations are par for the course. Yet these events, some more glittery than others but all important to their organizations, serve a purpose beyond ego-stroking: They raise a lot of money.
“Many major New York City charities and many major charities cross the country raise a very substantial portion of their annual budget through galas,” said Melissa Berman, president and chief executive of Rockefeller Philanthropy Advisors.
She pointed to the Robin Hood Foundation gala, which attracts the hedge fund elite. It raised $60 million last year.