You'd suppose that Canadian businessman Steve Meehan, co-founder and former CEO of a $15 billion investment firm (Investment Planning Counsel), would bring those same hard-headed analytical skills to his new venture - an auto racing team. So why has he passed up the chance for thousands of dollars in corporate sponsorship for his Go Canada Racing vehicle?

Philanthropy, pure and simple. But as he tries out a new way of giving - visibility as well as money - he expects the charities to leverage his gift of media attention.

In place of corporate logos, Meehan's Ford Mustang will feature logos for both the Michael "Pinball" Clemons Foundation (MPCF) and the Rally for Kids with Cancer Scavenger Cup in support of SickKids Foundation. The potential audience includes thousands of spectators at upcoming NASCAR races in Watkins Glen, NY and Montreal, Quebec, as well as many more television viewers.

Getting others to give

"The NASCAR team is a great way to raise funds and awareness for good causes," says Meehan. "Given the huge popularity of NASCAR in Canada and the potential exposure a team can receive, it creates a great opportunity to help other organizations and inspire others to be philanthropic in their community."

And it's that inspiration that Meehan wants to create. He could have given a significant gift, in keeping with his track record of financial generosity. But he has a bigger message - promoting charitable giving in general.

"I ended up helping Pinball Clemons with his foundation instead of starting my own because we have a common belief in giving and promoting giving," he explains. "At the same time I was involved in pursuing another passion - racing - so I wanted to use my vehicle to promote Canadian racing, drivers and corporations. But I also wanted to use it for philanthropic good."

"Combining those passions made perfect sense," he continues. "For me, the underlying message is about drawing more attention to being philanthropic. No one person can change the world, but if we all make that one more effort, the world would very quickly become a better place."

Venture opportunity for charities

An experienced venture capitalist, Meehan sees a huge opportunity for charities to explore new initiatives by partnering with businesses rather than investing their donors' money, perhaps drawing a poor immediate return, and being pilloried in the media as a result.

"People running charities should be cognizant of money going to the cause," he agrees. "But by aligning yourself with businesses or businesspeople you can still step out in different directions, find ways of accomplishing new goals, without compromising your own finances."

Joel Hock, organizer of the Rally for Kids with Cancer Scavenger Cup, agrees. His passion for pediatric oncology matches the marketing savvy gained from helping other clients use their brand imagery to generate funds for breast cancer.

Wanting to "give kids with cancer a voice," he founded the Rally some years ago to benefit Sick Kids Foundation in Toronto. Now it's a multi-city event, involving business partners throughout North America and attracting celebrities who are drafted as navigators by the teams raising the most money.

Track outcomes, mitigate risk

He has some wise advice for charities anxious about the optics of an untried, expensive fundraiser.

• Highlight the fact that the event is just one component of a comprehensive marketing and fundraising plan that includes proven successes (direct mail, annual appeals, telefundraising, monthly giving, bequests and other established events).
• Focus on multiple objectives, for example, awareness and fundraising. Track the value of the awareness you create, including media impressions as well as participation, and leverage it for other events and relationships.
• Celebrate any major donor whose first contact with the organization came through a special event.
• Track the number of new donor names and relationships, as well as actual money raised. The top driver in the Toronto rally, for example, brings in over $400,000 from his personal network. That's a significant number of new supporters to cultivate.

For more information about the Michael "Pinball" Clemons Foundation, visit www.mpcf.ca; for the Rally for Kids with Cancer Scavenger Cup, www.rallyforkids.com/tor/main.shtml.