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Fundraising for Endowment

Fundraising for Endowment. Corporation for Public Broadcasting Major Giving Initiative Friday, October 6, 2006 9:15–10:30 AM. Presented by: Janet L. Hedrick, CFRE Bentz Whaley Flessner www.bwf.com jhedrick@bwf.com. Overview of Session. What is endowment?

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Fundraising for Endowment

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  1. Fundraising for Endowment • Corporation for Public Broadcasting • Major Giving Initiative • Friday, October 6, 2006 • 9:15–10:30 AM Presented by: Janet L. Hedrick, CFRE Bentz Whaley Flessner www.bwf.com jhedrick@bwf.com

  2. Overview of Session • What is endowment? • Should my station have an endowment? • How does my station build an endowment?

  3. What is Endowment? • Invested funds • Only income or portion of income is spent • Provides security for the future

  4. The Endowment Fund • What is endowment? • Designated for endowment by donor. • What is quasi-endowment? • Not designated for endowment by donor. • Designated by another person or group. • Often Board decision. • Decision can be changed.

  5. Should my station have an endowment? • Do you have “permanent” and/or dependable sources of support? • Will dollars from those sources grow to meet needs in the future?

  6. Endowment or Membership • Year 1: January—December, 2006 • ENDOWMENTMEMBERSHIP • 2 donors at $25,000 32 members at $40 • Total Endowment: $50,000 Total $1,280 Income: $2,500 Income: $1,280 Expendable: $1,250 Expendable: $1,280 • Year 2: January—December, 2007 • ENDOWMENT: No activity MEMBERSHIP:On-air, mail, phone, web • 0 donors 26 members (80% renewal) • Total Endowment: $51,250 Total: $1,040 Income: $2,562.50 Income: $1,040 Expendable: $1,281.25 Expendable: $1,040

  7. Balance Between Current and Future Needs • But my station needs money now! • If our best donorsmake gifts for endowment, we won’t be able to make our membership goal!

  8. Will these donors stop making annual gifts? • Positioning of the gift. • Three-part approach. • Annual • Capital/endowment • Planned

  9. Example: John and Jane Viewer • Increase annual gift to $10,000/year. • Contribute $10,000/year for endowment. • Consider a provision in their wills. • Total: $100,000 paid over five years. • Result of gift. • $50,000 for current support. • $50,000 for endowment.

  10. Restricted or Unrestricted • Large gift = high likelihood of restriction. • Be flexible. • Develop gift opportunities to suggest. • Create specific, yet broad areas. • Children’s programming • Educational outreach for children • Local program fund • Fund for arts and culture • Fund for news and civic affairs

  11. How does my station begin an endowment? • Decision on organizational priorities. • Endorsement by appropriate leaders. • Policies and procedures. • Investment policies • Expenditure policies • Plan for seeking endowment gifts. • Short-term • Long-term

  12. Making the Case for Endowment • What is the case? • Why should an individual make a gift for endowment? • Importance of endowment to station. • Example: WPSU Case for Endowment—Attachment 1

  13. Sources of Revenue

  14. Marketing of Endowment • Integrated development plan • Communications • On-air spots • Publications • Website—Attachment 2 • Other • Donor Profiles • Highlight motivation • Volunteer Involvement • Committee or other volunteer structure

  15. Establishing Guidelines • Gift size for recognition • Number of years for pledges • Recognition • Within current recognition program • Additional recognition • Duration of recognition • Restrictions • Acceptance of planned gifts • Sample plan and guidelines—Attachment 3

  16. Special campaign or not? • Special endowment campaign • Increased visibility • Beginning and end of effort • Separate from other efforts • No special endowment campaign • Highlight as additional support • No end to effort • Integrated with other development programs

  17. Setting Goals • Who are your prospects? • How long will it take to cultivate and solicit those prospects? • How will you determine other prospects? • What staff and volunteers are needed? • How does the effort fit within other development programs?

  18. Continued Setting Goals • Establish monthly, quarterly, and annual goals. • Number of prospects identified. • Number of contacts with potential donors. • By development staff. • By other staff. • By volunteers. • Total dollars received. • Total dollars pledged. • Number of donors.

  19. Evaluating Success • Did you achieve your goals? • What did you do well? • Where could you have made improvements? • What is needed for future success? • How does the plan need to be revised?

  20. Sharing the Stories • Judy Witt, Special Endowment Funds: WTIU, Bloomington, IN • Kurt Mische, Endowment through Planned Giving: Vegas PBS (KLVX), Las Vegas, NV • Tom Yourchak, Endow-A-Day: WPSU, University Park (State College), PA

  21. Summary • Endowment gives the station security for the future. • Current support and endowment giving can be combined in a request. • Guidelines and goals are important.

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