Issue link: http://www.e-digitaleditions.com/i/62203
Key Means of Survey Yearly donations to business college University advancement staff College's advancement staff Business college's advancement staff Year business college established $1.7 million 25.9 people 7.9 people 1.5 people 1953 The average business school receives $1.7 million in donations over and above established endowments. Most business schools are also relatively new, with the mean date of foundation being just 50 years ago. While most universities have more than 25 people involved in fund-raising efforts, only about six percent are dedicated to seeking money for the business school, making the dean's involvement even more critical. Why Priorities Shift The dean wants to improve the college's visibility The budget has been reduced 42% Other 19% 85% 67% Competition among business schools has increased (The school needs to build new facilities, recruit new faculty, develop new curriculum, or launch a capital campaign) Alumni have reduced giving 11% Endowment Levels None 5% Less than $1 million $1 million to $5 million $5 million to $10 million $10 million to $20 million More than $20 million 12% 10% 21% The responding schools report a wide range of current endowment levels, with the majority receiving less than $5 million in annual endowments. Deans with larger endowments report spending less time on fund-raising than do deans with fewer endowment funds. 7% 9% Tough Challenges Competing for funds with the central university administration is one of the hardest tasks deans face when trying to raise money for their own schools. They're also struggling with an unfriendly economic climate—and many of them feel they don't have the time to devote to fund-raising tasks. Overall, respondents indicate that their fund raising is most effective when their school has a large student enrollment and, therefore, a larger pool of likely donors. 12% 21% 18% 7% 26% 24% 28% Because a school's needs are constantly changing, deans must constantly reassess their fund-raising priorities. They are most likely to step up their fund-raising efforts when they want to establish the school's brand or make it a stronger contender for high rankings. Budget cuts also force them to direct more energy to fund raising. It's encouraging to note that they rarely have to increase fund-raising efforts because alumni have stopped giving, a signal that most donors tend to remain loyal. Competition with central university administration Current economic conditions Lack of time/resources Increasing donor expectations Planning/getting started Establishing endowments Other BizEd JULY/AUGUST 2003 41