Transcript Best Practices Defined and Checklist

Best Practices Defined
The New Reality
 Weakened feeder school infrastructure
 Stronger competition for students and faculty
 More pressure on admissions and marketing
 Increased demand for tuition assistance
 Aging schools need to be updated
 Facilities and “curb appeal” are more important
The New Reality
 Tighter budget constraints and more pressure to
control tuition cost
 Science and Technology an increasingly important
component of education
 Managing schools is more complex and challenging
than ever
 Scope, sophistication and expectation of
advancement has increased dramatically.
The New Reality
 More complex questions from top prospects
 It’s taking longer to reach major gift goals
 Prospects are pledging more conservatively
Given the “New Realities” we face:
What should the “Ideal Development
Operation” look like?
1. Strong Annual Fund and other Annual
Giving Programs
 Covers our GAP
 Mission centered
 Branded Annual Fund with direct
marketing, personal solicitation, and
parent partnership activities
 Goal focused ($.25 cost to raise $1.00)
 Complementary, strategic fundraising
events
 Online donations
Annual Giving Program Strategy
 Constituents are generally
requesting fewer, more
“strategic” appeals
 Development resources should
be carefully scrutinized for
maximum $ productivity
• Friendraising
 Alumni Reunions
 Anniversaries
 Publications
• Fundraising
 Annual Fund
 Auction
 Personal solicitation
2. Major Gift Program
 Clear, compelling, inspirational case for support
 Prospect identification, cultivation, solicitation and
stewardship: Building Relationships
 Focus on the “Top of the Pyramid”…5%
 Develop a Master Prospect List.
 Customized communication to top prospects
 Active involvement of Development Director, President
and Board
3. Planned Giving Program
 Coordinated with Major Gift Program
 Generally directed to endowment growth
 Legacy Society
 Comprehensive web page
 Partner with a Planned Giving support organization
 The longest sales “life cycle”
4. Organization and resources focused
on the “right” activities
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President/Principal Model
Active Board and volunteer engagement
Full time, singularly focused Development Director
Critical activity: Major Gifts
Full time Development support staff
Three to one ratio of annual revenue to cost
Strong database management
Disciplined execution
Comprehensive ask strategy
5. Actively engaged in prospect wealth
screening and rating
 Wealth screen the database every few years
 One of the most important advancements in the
development field
 Also conduct internal prospect rating
 Helps identify who has the capacity to invest
 Identifies incoming Freshmen Parent wealth
6. Comprehensive planning process
 Establish a clear vision for the future. What are the
school’s funding priorities? Strategic Plan?
 Develop a 3-5 year financial model
 Create specific goals for Development
 Centralize and manage all Development activities
 Utilize your marketing, website and social media tools
for consistency and effectiveness
“Best Practices” Checklist
The Ingredients for Success
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Strong Annual Fund and other Annual Giving Programs
Major Gift Program
Planned Giving Program
Organization and resources focused on the “right”
activities
5. Actively engaged in prospect wealth screening/rating
6. Comprehensive planning process
What is your current reality?
 Does leadership “get it”?
 Do you have a strategic plan/case statement in place?
 Do you have a Development Plan, Model and Process?
 Active Major Gift Program?
 Thorough Annual Fund execution methodology?
 Planned Giving Program?
 Limited, “Strategic” Events?
 Disciplined execution?