If your intent is to persuade the recipient in some way, whether it's to invest money, give you a reference, hire you, partner with you, or fix an issue, create a compelling case for your cause. If, for example, you want the reader to sponsor a charity event, identify any overlap with their company’s philanthropic goals. Convince the reader that helping you would be mutually beneficial, and you will increase your chances of winning their support. Keep your closing paragraph to two sentences. Simply reiterate your reason for writing and thank the reader for considering your request.
As mentioned previously, application letters and cover letters are not the same. A cover letter identifies an item being sent, the person to whom it is being sent, and the reason for its being sent. A cover letter provides a permanent record of the transmittal for both the writer and the reader.