This chapter identifies four major “myths” are: the myth of unrestricted gifts, the myth of a broad base of donors, the myth of the volunteer solicitor, and the myth of the invisible fund raiser. It analyzes the perspectives of fund raising as a sales or marketing function and strongly criticizes such perspectives as inappropriate for an understanding of an organizational behavior dealing with donor motivations that encompass more than the quid pro quo of the marketplace. A principle of fund raising, therefore, assumes that private funds have historically created “autonomous” charitable organizations and gifts serve to protect the autonomy of charitable organizations, particularly colleges and universities. A corollary to the myth of the volunteer, the invisible fund raiser is a commonly accepted component of the principle of fund-raising success advanced by consultants. The acceptability of the marketing perspective also can be seen by the growing interest in applying marketing techniques to fund-raising problems, both in research and in practice.