Effective Fundraising by F. Warren McFarlan

Author:F. Warren McFarlan [Mcfarlan, F. Warren]
Language: eng
Format: epub
ISBN: 9781119772293
Publisher: Wiley
Published: 2021-03-30T00:00:00+00:00

Creatively Engage Prospects. Particularly interesting situations arise when the donor wants to make a gift but is searching for something novel. A memorable one to the author was from a philanthropically oriented alum of a college who wanted to make a $15 million gift that would be anonymous but that would make a real difference. The college suggested he underwrite 10 chairs for nontenured faculty at $1.5 million each. The development office could then sell the naming rights for the 10 chairs at $2.5 million to alums who wanted to endow named chairs but could not afford the normal price of $4.0 million for a chair. The alum was excited to leverage his gift this way. Only six months later, all 10 chairs had been funded by alums who were delighted to fund chairs in their names that they thought they could not afford. It was a great success for all 11 donors, helping the college to attract new faculty of the right caliber.

Planned Gift. For older donors, a popular approach is to give face value credit for a planned gift versus its lower present value. This means the alum gives a gift of $100,000 for a planned annuity (see Chapter 6). The present value of the gift may be $70,000 but the alum is thrilled to get credit in the class report for $100,000 and thus makes a gift larger than he might otherwise have made and feels good about it.

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