Issue link: http://www.e-digitaleditions.com/i/63429
port come from gifts of $5,000 or less." While the annual budget gets spent every year, and thus has to be re-raised every year, ongoing programs and regular donors usually can be counted on to provide those funds. It's the special projects that require more careful handling. "Whenever we make asks for a special campaign, we have a double ask; and we make sure part of that includes asking the donor to continue or step up his annual gift," says Margo. "We have tried to educate donors about the value and power of an unrestricted gift and what it can do for a dean now, this year. And then we say, 'In addition, will you also consider a gift to create an endowment or build this facility?'" "My feeling about special campaigns is that, in the short run, they will rob money from the operating expenses, but in the long run, they'll help," says Zimmerman. "Special projects can be very sexy. They can bring in people who haven't given before. Once these people give to a special project or have a plaque put up on the wall with their names on it, you can include them in the regular pool of donors and start soliciting them on a regular basis. You might lose something in the short run, but ultimately the one hand washes the other." Like Margo, Zimmerman advocates asking for a special potential projects, and the graduating students—the full- time MBAs, the part-time EMBAs, the students in one-year programs, and the masters in finance—all get a chance to cast their votes. "It becomes quite competitive. The stu- dents look back to what was given the year before and try to find something that's bigger and better. They might try to find a project for which they can get matching funds. It's a project they find fun and challenging, and it opens lots of opportunities for connections with each other," says Nason. In addition, the LBS development office plans reunion fund-raising efforts every year, approaching graduates in their fifth, tenth, 20th, or 25th year out of school. "We usually can manage about four reunion projects a year," says Nason. "As with the class gift project, we encourage donors to make a special commitment." contribution on top of the annual donation. "Look at envi- ronmental organizations that have memberships," he says. "They will ask their members to renew their memberships. However, during the year, they will also send out announce- ments about special projects they're initiating. All kinds of nonprofits, including colleges, are paranoid about going after the donors too often, but that's one thing I don't worry about. It's not a question of how often you go after donors. It's a question of whether you're cultivating them in other ways to make them feel they're part of the family. If you're doing that, then there's nothing wrong with approaching them a few different ways a few different times a year. Keep in mind that 90 percent of the money comes from ten per- cent of the donors." Yet, even that ten percent will age or fall away as the years pass. It's important always to keep potential new donors in the pipeline, notes Margo—recent graduates without much spare money may become major benefactors in the future as their circumstances improve. Colleges must always be aware of these alumni, as well as other friends of the university who are passionately committed to schools of business—and will- ing to donate money to help them thrive. s z BizEd JULY/AUGUST 2002 51