multiple approaches to stewarding faculty endowments susan demuth | director, institutional donor...
TRANSCRIPT
Multiple Approaches to Stewarding Faculty Endowments
Susan deMuth | Director, Institutional Donor RelationsJohns Hopkins University | [email protected] | 410.516.4551
Nancy Lubich McKinney | Director, StewardshipUniversity of California, Berkeley | [email protected] | 510.643.7664
Kirsten Rasmussen | Director, Stewardship and Donor CommunicationsGeorgetown University | [email protected] | 202.687.4369
deMuth | McKinney | Rasmussen 2
Agenda
Facts and Figures Key Moments and Stewardship Activities
Gift or pledge creating the endowment Approval of chair by governing body Appointment of chairholder Ongoing reporting Discussion and Q & A
Best Practices Johns Hopkins University | Engaging the Hopkins Family University of California, Berkeley | Hewlett Challenge Launch Georgetown University | Chair Inaugurations Discussion and Q & A
Close
deMuth | McKinney | Rasmussen 3
Facts and Figures
Number of Faculty
Endowments
Faculty Endowment
Minima
Johns Hopkins University
400 named professorships
$3.5 Department Chair
$2.5 Professor
University of California, Berkeley
350 endowed chairs and distinguished
professorships
$2MM chair
$3MM distinguished chair
Georgetown University
~ 140 endowed chairs and professorships
$5MM University Chair
$3MM Named Chair
$2MM Named Distinguished Professorship
deMuth | McKinney | Rasmussen 4
Key Moments and Stewardship Activities:
Gift or Pledge Creating the Endowment
Gift agreement Ensuring that the donor’s interests and the institution’s needs
and capabilities are in alignment
Acknowledgement of gift or pledge Communicating expectations to donor regarding approval and
appointment
Creation of endowed fund Understanding of funding requirements
deMuth | McKinney | Rasmussen 5
Key Moments and Stewardship Activities:
Approval of Chair by Governing Body Johns Hopkins University
When 75% of funding is in-hand and it is determined that remaining funding will be received within a reasonable period
A formal request to establish an endowed fund is forwarded to the Treasurer’s Office
Individuals are nominated and a formal letter sent to the President for review by the Board of Trustees.
University of California, Berkeley When 2/3 of funding is in-hand Chancellor sends Endowed Chairs book with chair profile
Georgetown University Must be fully funded in order to be awarded University Chair: Bestowed only by the President; approved by the Board of
Directors Named chair : Bestowed by dean from the respective school as a result of a
search committee
deMuth | McKinney | Rasmussen 6
Key Moments and Stewardship Activities:
Appointment of Chairholder
Johns Hopkins University Formal dedication/installation ceremony where the endowed
chair is formally accepted by the President or member of the Board of Trustees
Reception followed by smaller, formal dinner University of California, Berkeley
Process is different for each school/college Dean communicates with donor and arranges for introduction
Georgetown University Formal chair inauguration Medal presented to donor by President during inauguration Reception followed by a formal lunch or dinner
deMuth | McKinney | Rasmussen 7
Key Moments and Stewardship Activities:
Ongoing Reporting
Faculty-generated versus “third-party” When faculty write the reports, they are more engaging and
genuine When third-parties are responsible for writing the reports they
are sure to get done Stanford University is centralizing reporting as part of its
“Top Donor Stewardship Program” To address the fact that decentralized responsibility has lead to
a wide range of outcomes for donors Reports will be written by a dedicated writer Communication from faculty will be a “bonus”
deMuth | McKinney | Rasmussen 8
Discussion and Q&A
How do your stewardship activities differ from the ones we’ve presented?
How do you track stewardship activities to ensure completion and compliance?
What recent changes have you made to your stewardship activities, and what has the response been?
How do you engage faculty in the process?
deMuth | McKinney | Rasmussen 9
Best Practices | Johns Hopkins University:
Engaging the Hopkins Family
8 years into the project and still no professorship! …the problems, the drawbacks
Identification of the family members ...Is this even a possibility
Identification of the family leaders …visible and shadow
Funding the professorship …and its recognition
Ongoing communication keeping the family engaged four years later…
deMuth | McKinney | Rasmussen 10
Best Practices | University of California, Berkeley:
Hewlett Challenge Launch
The Hewlett Challenge $110MM challenge match from the William and Flora Hewlett
Foundation that will fund 100 endowed chairs 80 $1MM + $1MM = $2MM departmental chairs 20 $1.5MM + $1.5MM = $3MM multi-disciplinary chairs
The largest gift/pledge in the campus’s history A partnership to benefit public higher education
Leveraging the launch…the stewardship strategy Treat donors and lead volunteers as “insiders” Value donors of pre-existing chairs as “early investors”
deMuth | McKinney | Rasmussen 11
Best Practices | University of California, Berkeley:
Hewlett Challenge Launch
Integrated marketing communications Personalized, advance notice of “confidential” information and
invitation to attend announcement Donors, lead volunteers, chairholders and other chair-eligible faculty
Campus communications Day-of email to faculty and staff inviting them to announcement Campus’s faculty/staff newspaper
Media strategy Media alert regarding announcement and press release Paid advertising in targeted print and online publications
http://hewlettchallenge.berkeley.edu [email protected]
deMuth | McKinney | Rasmussen 12
Best Practices | University of California, Berkeley:
Hewlett Challenge Launch
Mailing to 2,331 addressees in 11 segments Messaging
Importance of endowment support for faculty What the Chancellor told the Hewlett Foundation board Impact on pre-existing chairs Recently implemented minima for funding faculty endowments
Identification of funds to which addressees are connected Formal versus informal salutations and Chancellorial signatures Special handling of “distinguished professorships,” which will be
elevated to “distinguished chairs” Hewlett Challenge facts and Q&A
deMuth | McKinney | Rasmussen 13
Best Practices | University of California, Berkeley:
Hewlett Challenge Launch
Stewarding the Hewlett Foundation Luncheon following the announcement Photobook and video of announcement Comprehensive packet of media coverage and paid advertising Ongoing reporting of progress toward subscribing the 100 chairs
Stewarding Hewlett Challenge participants Campuswide standards for stewarding these donors Toolkit to use to engage faculty in these stewardship activities
Setting expectations for faculty involvement
Outcomes
deMuth | McKinney | Rasmussen 14
Best Practices | Georgetown University:
Chair Inaugurations | Goals
Maximizing engagement opportunities Principal goals
Donor Stewardship Academic Recognition Prospect Cultivation
Major gift donors/prospects Students (new)
Public Relations (Reinforcing Market Position)
deMuth | McKinney | Rasmussen 15
Best Practices | Georgetown University:
Chair Inaugurations | Planning
Strategic Briefing Goal identification Target audience(s)
Donor Prospects Press/Media Community Decision-makers Academics
Messaging Public celebration Private celebration
Tactics Timeline Budget Partners Assessing need for PR consultants
deMuth | McKinney | Rasmussen 16
Best Practices | Georgetown University:
Chair Inaugurations | Process
Program development Press release
Local/national distribution Distribution in donor’s home community (local press, other donor
affiliations) Story pitch to local and national media outlets
What is the story we want to tell? Engaging local, national, international officials
Protocol Identifying other cultivation opportunities Packaging the event for additional stewardship uses
(website, publications, etc.)
deMuth | McKinney | Rasmussen 17
Best Practices | Georgetown University:
Chair Inaugurations | Marketing
Example:
Georgetown markets itself as the only university ranked in the top 25 that is uniquely positioned
in the heart of nation’s capitol.
Through chair inaugurations, how can we reinforce this messaging by: Cultivating (educating) other donor prospects Strengthening community relationships (a large percentage of
Georgetown’s donor and alumni base resides in the DC Metro area) Engaging media coverage Influencing decision makers (local, national, international)
deMuth | McKinney | Rasmussen 18
Best Practices | Georgetown University:
Chair Inaugurations | Examples
2006: Eleni and Markos Tsakopoulos-Kounalakis Chair in Hellenic Studies National, international dignitary participation (Greek Foreign Minister, Nancy Pelosi, John Negroponte, Anthony
Kennedy, Clinton letter) PR consultant provided by donor Involvement of Greek Embassy (also donors) Engagement of DC and international Hellenic community Press Coverage Prospect cultivation
2007: Clovis and Hala Salaam Maksoud Chair in Arab Studies Multiple donors Timely message delivered by chair—impact of women’s education in Arab society International dignitaries present Engagement of DC Arab community Prospect cultivation Event open to chair holder’s students
2008: Edwin H. Richard and Elisabeth Richard von Matsch Professorship in Neurological Disease Donor deceased Chair inauguration to promote the work of the chair holder in discovering new therapeutics to treat and cure disease Other national public events/press opportunities planned, leading up to chair inauguration Prospect cultivation
deMuth | McKinney | Rasmussen 19
Greek Foreign Minister Dora Bakoyannis at Hellenic Chair Inauguration
deMuth | McKinney | Rasmussen 20
deMuth | McKinney | Rasmussen 21
Best Practices | Georgetown University:
Chair Inaugurations | Summary
Strategic Brief Goal identification Audience segments
Donor Press/Media Prospects Community Decision-makers Academics
Messaging Partners
Maximize Engagement Opportunities!
deMuth | McKinney | Rasmussen 22
Discussion and Q&A
What is your best practice?
What are you going to do differently in the future as a result of what you’ve heard today?
What questions to you have for the talented minds assembled in this room?
deMuth | McKinney | Rasmussen 23
Close
Thank You!