Best Practices Defined and Checklist
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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
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
1.
2.
3.
4.
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?