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?