Short answer: no.
Publicity such as newspaper articles, PSA’s, television and the like are a supplement to both fundraising and general communication efforts. However they should not be the first or main strategy.
To raise substantial money you must ask people in person, regardless of any well-placed stories. Second, most campaigns depend on a relatively small number of major donors—about 10 percent of the prospects—whose decision to give won’t be much influenced by the media.
Source: Guidestar, Beware Publicity When Raising Big Gifts