University Business - February 2008 - (Page 52)

Include reasons to support the institution type in appeals. Purchase College’s Schwarz and David Sears, vice president of institutional advancement at Montgomery College, ﬁnd themselves talking in terms of how many more students beneﬁt from a donation to a public school compared to a private one. Donors’ dollars “go further here in supporting students’ ﬁnancial needs,” Sears argues. Allan Price, vice president for advancement at the University of Oregon, recalls that his president, in an initial meeting with philanthropist Lorry Lokey, expressed his belief that supporting public institutions is also about giving back to the area. Lokey, says Price, was known for being a major donor to many private institutions and “had some sense that that’s what tax dollars were for. He was pretty shocked to ﬁnd out the low percentage of our budget that comes from the state.” The president also pointed out that a donor’s money could leverage state money. In Oregon, private donations for building construction are matched by the state. Schools such as Harvard Medical, meanwhile, make the reputation case—that gifts are “leveraged by the strength and resources of Harvard University,” as its new brochure states. “We wanted to change the perspective from giving to an institution to giving through an institution,” McMahon says. Ask deans to share their contacts. DeSimone notes that with every person on the Augustana campus beneﬁting from major gifts, “it’s a mistake to try to limit or focus on a handful of individuals to carry that message [about giving].” At the University of Oregon, a dean checking references for a fundraising ﬁrm being considered ﬁrst spoke with Lorry Lokey, one of the references given. Lokey mentioned originally being from Portland and that he had supported a number of private universities in California, including Stanford, his own alma mater. “As a good dean should, he let the development oﬃce know,” recounts Price. “We had an appointment with Lorry two weeks later.” Get alumni involved in introducing prospects. Northern Arizona University’s College of Business got a commitment in spring 2007 for a $25 million donation from William A. Franke, former CEO of America West Airlines. But it wouldn’t have happened if it weren’t for ’76 grad Scott Coor, who met Franke while a student (he hosted Franke as a guest speaker) and was later hired by the company Franke headed at the time. They remained in touch, and one day Coor suggested the school approach Franke for a transformational gift. “We do encourage alumni, especially those we know very well, to let us know of [potential donors],” says Betsy Make donors feel special. East Carolina University’s (N.C.) health services division sends an- Putnam, senior director of development at Northern Arizona, who worked on securing the Franke gift. With Coor, it was his own idea—one that the college didn’t just take from there. During the initial meeting with Franke, Coor made the direct suggestion: “Bill, you need to name Northern Arizona University’s business college.” Putnam recalls, “Bill looked at me and —Allan Price, University of Oregon asked what the cost would be. That was the start of a three-year conversation.” ‘I’m pretty convinced that [major donor Lorry Lokey] was a University of Oregon student in a past life!’ nual customized endowment reports, which are “very well received,” shares Carole Novick, associate vice chancellor for health sciences development and alumni. At Augustana, calling oﬃcers strive for face-to-face contact with even modest givers, such as those who have given a small amount each year for 10 years. “They’re making a statement to you. They’re voting with their checkbook,” DeSimone says. “That’s the person a calling oﬃcer should visit.” He notes that donors expect both appreciation and that “their hard-earned gifts are being well spent.” The fact that the college has operated with a balanced budget for more than three decades helps calling oﬃcers prove it. WINNING OVER MAJOR GIFT PROSPECTS Extend oﬀers to join the board. This strategy is used by schools of all types and sizes and at times can lead to major gifts. Gary Hoover, an Arizona resident whose uncle works in Wartburg’s city of Waverly, Iowa, “was invited to join the school’s board of regents and has since oﬀered much in the way of leadership and generous ﬁnancial support,” says Leisinger. Just how generous? Hoover provided the lead gift in support of Wartburg’s new stadium. 52 | February 2008 Build relationships with all regular donors. Schwartz recalls that one Purchase College Friends of Humanities member, who ﬁrst got to know the institution as a senior citizen class auditor (an opportunity oﬀered at no cost when there’s an available seat), initially donated $100. After attending the college’s scholarship reception, that person committed to creating a $50,000 endowed fund. But the story doesn’t stop there. This person continued to make gifts of $50,000 per year to that endowment for the next six years. Invitations to faculty seminars and dinners with the president were extended throughout this time. Eventually the person made a $1 million gift to create a chair, a gift that the donor’s family doubled with a match. One never knows what one single donor might do. Think big on beneﬁt events. Purchase also hit it big with its recent Nelson A. Rockefeller Awards, presented to performing and visual arts luminaries at a beneﬁt gala. “We anticipated 250 [attendees] and got 420,” Schwarz notes. With tickets at $750 or $1,000 each and additional pledges, $1.3 million was raised. universitybusiness.com http://universitybusiness.com

Table of Contents for the Digital Edition of University Business - February 2008

University Business - February 2008
Contents
College Index
Company Index
Advisory Board
Editor's Note
Stats Watch
Sense of Place
Viewpoint
Future Shock
Independent Outlook
On the Hill
Facilities Focus
Cover Story: Orientation Rites: Seal the Deal
A Sense of Security
Growing the Giving Tree
Are We Covered?
Baby Boomers, Back to Campus
Internet Technology
What's New
Calendar of Events
End Note

University Business - February 2008