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June 14, 2006

June 14, 2006. AGENDA FOR THE DAY: FUND RAISING FOR ECONOMIC DEVELOPMENT. RDG background Process for generating funding Do’s and Don’t’s. WHO IS RESOURCE DEVELOPMENT GROUP, INC.?. HISTORY • Since 1990 Managed 100 Campaigns Raising over $500 million specifically for Economic Development

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June 14, 2006

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  1. June 14, 2006

  2. AGENDA FOR THE DAY:FUND RAISING FOR ECONOMIC DEVELOPMENT • RDG background • Process for generating funding • Do’s and Don’t’s

  3. WHO IS RESOURCE DEVELOPMENT GROUP, INC.? • HISTORY • • Since 1990 Managed 100 Campaigns Raising over $500 million specifically for Economic Development • SPECIALTY • • Delivering Customized Fundraising Solutions to Economic Development Organizations • CLIENTS • Regional EDC’s • • Large and Small, Urban and Rural EDC’s • • Chambers with Economic Development Programs • Statewide organizations

  4. SAMPLE MAJOR MARKETS

  5. SAMPLE OHIO CLIENTS

  6. HOW DO WE RAISE MONEY? • • Targeted Program and Funding Assessments • • Organize, Manage and Execute Broad Based Campaigns • • Direct Solicitation Methodology • Volunteer Campaign management • Hybrids • • Team Approach • • Guaranteed Goals

  7. AGGREGATE ED FUNDING IN SELECTED OHIO MARKETS In Ohio Markets of population 100,000 and below: • Average ED funding = $265,000 per year • Per Capita ED funding $4.35 • Revenue spit: • 50% private • 46% public • 4% fee generation

  8. HOW ARE WE DOING?

  9. ASSESSMENT GOALS • Allows Organization to • Objectively Evaluate: • Its Image • Program support among key constituents • Business • Government • Foundations • Potential funding support • Best campaign structure • Leadership • Style and approach

  10. ASSESSMENT PROCESS • • Leadership/Staff Planning Session • Identify interview targets • Develop pre-case • • Pre-Case Document • Proposed Programs/Projects • Benefits, Outcomes, Results • Target Budget • • 50 to 60 confidential interviews • 3 to 5 Focus Groups

  11. ASSESSMENT RESULTS • Broad-Based Consensus/Ownership • Blueprint for Launching Funding Model • Confidence of Achieving Funding Goal

  12. WHEN SEEKING INVESTMENTS: • • What is the money for? • • Who is in charge of spending? • • What is everyone else giving? • What do you need from me?

  13. WHAT IS THE MONEY FOR? • Case Statement must reflect: • Past Performance • Future Potential • Benefits, Results, Impact • Demonstration Packet • Mission • Action Plan • Goals & Objectives • Program/Project Budget • Investor Benefits/Relations

  14. WHO IS IN CHARGE OF SPENDING? • Volunteer Board Leadership • Campaign Leadership • Professional Staff

  15. WHAT IS EVERYONE ELSE GIVING? • • Underwriting Opportunities • • Sector Analysis/Matrix • • Investment Levels • • Funding Example • $1,000,000 Goal • 1 @ $100,000 = $ 100,000 • 2 @ $ 75,000 = $ 150,000 • 6 @ $ 50,000 = $ 300,000 • 8 @ $ 25,000 = $ 200,000 • 10 @ $ 10,000 = $ 100,000 • 30 @ $ 5,000 = $ 150,000 • $1,000,000

  16. SOLICITING INVESTMENTS • • Volunteer Board of Directors • • First-Tier Prospects (Top 10-15) • • Long-Range Prospects • Foundations • Trade Associations • • Second-Tier Prospects • • Third-Tier Prospects • • General Phase (if needed)

  17. PREP PHASE • Finalize Case Statement • Finalize Campaign Theme • Recruit Campaign Leadership • Develop Correspondence and Demonstration Packet • Develop Master Prospect List • Complete Prospect Research • Implement Administrative Systems

  18. LEADERSHIP PHASE • Board of Directors • First-Tier Investors/Prospects • Community, State, and • National Foundations • Other trade groups

  19. PUBLIC PHASE • Board of Directors • First-Tier Investors/Prospects • Community, State, and • National Foundations • Other trade groups

  20. CAMPAIGN WRAP-UP • Pledge redemption/Accounting System • Campaign Celebration Event • Investor Recognition/Relations

  21. DO’S AND DON’T’S DO: • Be personally engaged • Communicate with your stakeholders • Exercise leadership • Be open-minded and creative • Have a vision and implementation plan

  22. DO’S AND DON’T’S DON’T: • Ready, shoot, aim • Take a back seat • Leave it to your board • Wait until the last minute • Artificially deflate (or inflate) expectations

  23. QUESTIONS?

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