Stewarding Endowed Faculty Funds -- ADRP 2007

Multiple Approaches to Stewarding Faculty Endowments

Susan deMuth | Director, Institutional Donor RelationsJohns Hopkins University | [email protected] | 410.516.4551

Nancy Lubich McKinney | Director, StewardshipUniversity of California, Berkeley | [email protected] | 510.643.7664

Kirsten Rasmussen | Director, Stewardship and Donor CommunicationsGeorgetown University | [email protected] | 202.687.4369

deMuth | McKinney | Rasmussen 2

Agenda

Facts and Figures Key Moments and Stewardship Activities

Gift or pledge creating the endowment Approval of chair by governing body Appointment of chairholder Ongoing reporting Discussion and Q & A

Best Practices Johns Hopkins University | Engaging the Hopkins Family University of California, Berkeley | Hewlett Challenge Launch Georgetown University | Chair Inaugurations Discussion and Q & A

Close


Facts and Figures

Number of Faculty

Endowments

Faculty Endowment

Minima

Johns Hopkins University

400 named professorships

$3.5 Department Chair

$2.5 Professor

University of California, Berkeley

350 endowed chairs and distinguished

professorships

$2MM chair

$3MM distinguished chair

Georgetown University

~ 140 endowed chairs and professorships

$5MM University Chair

$3MM Named Chair

$2MM Named Distinguished Professorship


Key Moments and Stewardship Activities:

Gift or Pledge Creating the Endowment

Gift agreement Ensuring that the donor’s interests and the institution’s needs

and capabilities are in alignment

Acknowledgement of gift or pledge Communicating expectations to donor regarding approval and

appointment

Creation of endowed fund Understanding of funding requirements



Approval of Chair by Governing Body Johns Hopkins University

When 75% of funding is in-hand and it is determined that remaining funding will be received within a reasonable period

A formal request to establish an endowed fund is forwarded to the Treasurer’s Office

Individuals are nominated and a formal letter sent to the President for review by the Board of Trustees.

University of California, Berkeley When 2/3 of funding is in-hand Chancellor sends Endowed Chairs book with chair profile

Georgetown University Must be fully funded in order to be awarded University Chair: Bestowed only by the President; approved by the Board of

Directors Named chair : Bestowed by dean from the respective school as a result of a

search committee



Appointment of Chairholder

Johns Hopkins University Formal dedication/installation ceremony where the endowed

chair is formally accepted by the President or member of the Board of Trustees

Reception followed by smaller, formal dinner University of California, Berkeley

Process is different for each school/college Dean communicates with donor and arranges for introduction

Georgetown University Formal chair inauguration Medal presented to donor by President during inauguration Reception followed by a formal lunch or dinner



Ongoing Reporting

Faculty-generated versus “third-party” When faculty write the reports, they are more engaging and

genuine When third-parties are responsible for writing the reports they

are sure to get done Stanford University is centralizing reporting as part of its

“Top Donor Stewardship Program” To address the fact that decentralized responsibility has lead to

a wide range of outcomes for donors Reports will be written by a dedicated writer Communication from faculty will be a “bonus”


Discussion and Q&A

How do your stewardship activities differ from the ones we’ve presented?

How do you track stewardship activities to ensure completion and compliance?

What recent changes have you made to your stewardship activities, and what has the response been?

How do you engage faculty in the process?


Best Practices | Johns Hopkins University:

Engaging the Hopkins Family

8 years into the project and still no professorship! …the problems, the drawbacks

Identification of the family members ...Is this even a possibility

Identification of the family leaders …visible and shadow

Funding the professorship …and its recognition

Ongoing communication keeping the family engaged four years later…


Best Practices | University of California, Berkeley:

Hewlett Challenge Launch

The Hewlett Challenge $110MM challenge match from the William and Flora Hewlett

Foundation that will fund 100 endowed chairs 80 $1MM + $1MM = $2MM departmental chairs 20 $1.5MM + $1.5MM = $3MM multi-disciplinary chairs

The largest gift/pledge in the campus’s history A partnership to benefit public higher education

Leveraging the launch…the stewardship strategy Treat donors and lead volunteers as “insiders” Value donors of pre-existing chairs as “early investors”




Integrated marketing communications Personalized, advance notice of “confidential” information and

invitation to attend announcement Donors, lead volunteers, chairholders and other chair-eligible faculty

Campus communications Day-of email to faculty and staff inviting them to announcement Campus’s faculty/staff newspaper

Media strategy Media alert regarding announcement and press release Paid advertising in targeted print and online publications

http://hewlettchallenge.berkeley.edu [email protected]




Mailing to 2,331 addressees in 11 segments Messaging

Importance of endowment support for faculty What the Chancellor told the Hewlett Foundation board Impact on pre-existing chairs Recently implemented minima for funding faculty endowments

Identification of funds to which addressees are connected Formal versus informal salutations and Chancellorial signatures Special handling of “distinguished professorships,” which will be

elevated to “distinguished chairs” Hewlett Challenge facts and Q&A




Stewarding the Hewlett Foundation Luncheon following the announcement Photobook and video of announcement Comprehensive packet of media coverage and paid advertising Ongoing reporting of progress toward subscribing the 100 chairs

Stewarding Hewlett Challenge participants Campuswide standards for stewarding these donors Toolkit to use to engage faculty in these stewardship activities

Setting expectations for faculty involvement

Outcomes


Best Practices | Georgetown University:

Chair Inaugurations | Goals

Maximizing engagement opportunities Principal goals

Donor Stewardship Academic Recognition Prospect Cultivation

Major gift donors/prospects Students (new)

Public Relations (Reinforcing Market Position)



Chair Inaugurations | Planning

Strategic Briefing Goal identification Target audience(s)

Donor Prospects Press/Media Community Decision-makers Academics

Messaging Public celebration Private celebration

Tactics Timeline Budget Partners Assessing need for PR consultants



Chair Inaugurations | Process

Program development Press release

Local/national distribution Distribution in donor’s home community (local press, other donor

affiliations) Story pitch to local and national media outlets

What is the story we want to tell? Engaging local, national, international officials

Protocol Identifying other cultivation opportunities Packaging the event for additional stewardship uses

(website, publications, etc.)



Chair Inaugurations | Marketing

Example:

Georgetown markets itself as the only university ranked in the top 25 that is uniquely positioned

in the heart of nation’s capitol.

Through chair inaugurations, how can we reinforce this messaging by: Cultivating (educating) other donor prospects Strengthening community relationships (a large percentage of

Georgetown’s donor and alumni base resides in the DC Metro area) Engaging media coverage Influencing decision makers (local, national, international)



Chair Inaugurations | Examples

2006: Eleni and Markos Tsakopoulos-Kounalakis Chair in Hellenic Studies National, international dignitary participation (Greek Foreign Minister, Nancy Pelosi, John Negroponte, Anthony

Kennedy, Clinton letter) PR consultant provided by donor Involvement of Greek Embassy (also donors) Engagement of DC and international Hellenic community Press Coverage Prospect cultivation

2007: Clovis and Hala Salaam Maksoud Chair in Arab Studies Multiple donors Timely message delivered by chair—impact of women’s education in Arab society International dignitaries present Engagement of DC Arab community Prospect cultivation Event open to chair holder’s students

2008: Edwin H. Richard and Elisabeth Richard von Matsch Professorship in Neurological Disease Donor deceased Chair inauguration to promote the work of the chair holder in discovering new therapeutics to treat and cure disease Other national public events/press opportunities planned, leading up to chair inauguration Prospect cultivation


Greek Foreign Minister Dora Bakoyannis at Hellenic Chair Inauguration




Chair Inaugurations | Summary

Strategic Brief Goal identification Audience segments

Donor Press/Media Prospects Community Decision-makers Academics

Messaging Partners

Maximize Engagement Opportunities!


Discussion and Q&A

What is your best practice?

What are you going to do differently in the future as a result of what you’ve heard today?

What questions to you have for the talented minds assembled in this room?


Close

Thank You!

Education

Stewarding Endowed Faculty Funds -- ADRP 2007