IN MAJOR FUNDRAISING EFFORTS

1. HOW TO AVOID THE 7 MOSTCOSTLY MISTAKES IN MAJOR FUNDRAISING EFFORTS Cargill Associates Architects in Philanthropy

2. THE SEVEN MOST COSTLY MISTAKES 1. Narrow focus on immediate needs 2. Unengaged constituency 3. Weak Case for Support 4. Untested goals and objectives 5. Failure to conduct a Feasibility Study 6. Failure to prepare a plan of action 7. Failure to consider appropriate, professional counsel

3. Determine the Long-Range Vision 1. NARROW FOCUS ON IMMEDIATE NEEDS A. Review the college’s case statement, including its history, purpose, and record of service to the people whose lives it impacts; B. Determine the individuals/constituent groups who are responsible to clarify the vision of the college; C. Invite broad participation from appropriate groups to explore and construct the long-rangevision; this will ensure ownership and buy in; D. Create a partnership with these people to ensure that all involved affirm the college’s hopes and dreams; E. Prioritize the necessary objectives which will ensure achievement of the college’s mission and vision (hopes and dreams).

4. Inform and Involve Constituents 2. UNENGAGED CONSTITUENCY A. “Friend-raising” is an important ingredient of fundraising: A variety of events and informational meetings in the community can raise awareness and cultivate partners for the college; B. After clearly identifying its constituents, the college must involve them by attracting their interest, keeping them informed, and inviting their input; C. As soon as these constituents “buy in” to the vision, their “ownership” will motivate their participation.

5. 3. WEAK CASE FOR SUPPORT Develop a Compelling Case for Support A. A compelling Case for Support establishes the investment opportunities by describing the benefits derived from each funding objective; B. It describes the sequence, plan, and budget for each funding objective; It demonstrates to potential donors that their efforts, combined with the efforts of others can achieve results far greater than would be possible alone; D. A strong Case for Support informs, excites, and involves constituents as it describes how the stated objectives can impact the lives of those served by the college.

6. Test the Goals and Objectives 4. UNTESTED GOALS AND OBJECTIVES A. The donor base needs to be evaluated and qualified with respect to estimated gift potential over and above ongoing annual support; B. The college needs information in order to achieve balance between its needs and the donor’s interest and ability to provide support; C. To gain this information, test the goals before making them public; D. This helps ensures success of the campaign and this success enhances future efforts.

7. Conduct a Feasibility Study 5. FAILURE TO CONDUCT A FEASIBILITY STUDY A. Individuals who are a part of the donor base need to be evaluated and qualified with regards to estimating their gift potential over and above their ongoing annual support; B. The college needs information in order to achieve balance between its needs and the donor’s interest and ability to provide support; C. To gain this information, test the goals before making them public; D. This ensures success of the campaign; E. Success enhances future efforts.

8. OVERARCHING PRINCIPLES A Feasibility Study discovers: • Who might play the biggest giving role • Who might play the biggest getting role • The donor’s priorities in the college’s plan • What tools and people are needed to implement a plan • An attainable and challenging goal for the campaign • Who would and could provide effective leadership • If planned gifts are available Cargill Associates Architects in Philanthropy

9. Plan the Work; Work the Plan FAILURE TO PREPARE A PLAN OF ACTION The Campaign Plan needs to include the following: • The finalized Case for Support; • Challenging but attainable goals; • Balance between the college’s needs and donors’ resources; • A critical path or time line that establishes target dates for the campaign • A solicitation strategy for top ten gifts and other leadership gifts; • Enlistment of key leaders with their responsibilities clearly defined; • Recruitment and training of volunteers; • Information meetings to present campaign to potential donors; • A partnership with appropriate, professional counsel.

10. Choose Counsel Wisely 7. FAILURE TO SELECT APPROPRIATE, PROFESSIONAL COUNSEL A. Investigate the reputation and track record of a potential consulting firm; B. Be sure that the consulting firm provides the necessary resources to conduct the Feasibility Study-the vital foundation for a successful campaign; C. Identify a consulting firm that has a wide variety of experiences; D. Select a firm with a team of consultants that provides the right chemistry for your college; E. Avoid any “cookie cutter” approaches to fundraising; F. Appropriate counsel must be tailored to fit your needs and situation; G. Examine the services offered by the consulting firm to be sure they are comprehensive and will add value to your investment; H. Choose the consulting firm that will best represent your college to its valued constituents and provide direction to ensure the most successful campaign possible.

11. AVOIDING THE MISTAKES BY: 1. Broadening the focus on the College’s Vision 2. Engaging the constituency 3. Preparing a Strong Case for Support 4. Testing goals and objectives 5. Conducting a Feasibility Study 6. Preparing a plan of action 7. Considering appropriate, professional counsel