University Fundraising 101
March 13Several months after the Tufts Tomorrow campaign raised $609 million, University officials are studying the elements behind successful fundraising, all in preparation for the next capital campaign. While the amount raised by Tufts Tomorrow pales against other universities' billion-dollar campaigns Stephen Dare, the Director of Resource Development at MIT believes the campaign represented was a success for Tufts. The campaign exceeded the initial goal of $600 million, and it was a "very strong representative campaign for the type of school Tufts is," Dare explained. It is typical for schools to receive as much as 70 to 80 percent of gifts from just two to three percent of the donors. Universities must find ways to satisfy these high-end donors while still reaching out to smaller donors, which university officials said are just as important to the fundraising process as larger ones. Dare agreed that an important part of fund raising is "personal interaction with people that could give larger amounts of money." One of the ways universities reach out to large donors is through contact with university administrators. "I know that [Tufts President] Larry Bacow would be a great representative for the institution," he said. "He'll be out talking to people, building support." Bacow, who was chancellor at MIT before he became Tufts' president, frequently makes trips around the country to talk with prospective and current donors. Fundraisers must account for the differences between the various schools at Tufts and the separate alumni constituencies. "There's difference in the source of funding raised by the Medical school, the Vet school and Fletcher," explained Elizabeth Rowe, the Associate Director of Development and Alumni Relations at the Fletcher School. Even within each school, the characteristics of alumni play some role. While a majority of Fletcher students go to work in foreign services after graduation, "more and more alum went into international business" starting in the 1970s, Rowe said. The greater number of alumni in highly-paid positions has helped Fletcher target its fundraising efforts. The Tufts Undergraduate Development office was not available for comment, despite repeated requests for interviews. Valerie Chung, a sophomore who works for the Tufts Telefund said people with fond memories of Tufts are the ones most eager to give back. "There are some [donors] who are like, 'oh, of course, the Vet School saved my cat!' and be more than happy to donate to the fund." In addition to identifying and targeting different types of donors, successful fundraising also depends on showing where the funds fit into the larger plan of the school. It is not enough for a school to simply want to raise money, Dare said. "There needs to be a plan and a good story." For Tufts' Fletcher School of Law and Diplomacy, its "mission to prepare leaders with a global perspective is a great motive" for donating, according to Director of Development and Alumni Relations Roger Milici, Jr. Most of the funds raised from the Tufts Tomorrow campaign have already been pledged to different projects. Part of the $46 million raised by the Fletcher school went into the development of the new Institute for Human Security Program which, according to Milici, will look at relief, development, human rights and conflict resolution "to enable smarter and more efficient decisions." Funds were also pledged toward a loan-forgiveness program for graduate students. Although Tufts is not currently executing a capital campaign, the University is still collecting donations. Fundraising goals at the Fletcher School of Law and Diplomacy remain ambitious even with the slow economy. "We are hoping to raise even more [this year] than we had last year during the campaign," Milici said.
