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DonorSearch identifies prospects in your database with the capacity and intent to give.

Missed the live session? Watch our on-demand webinars anytime to get guidance from industry experts.

30 Minute Mentors: Connecting Young Alumni to Students

There is more than one way that alumni/ae can give back. But in 30 minutes?! Well, at the University of Michigan Alumni Association, that is certainly the case with their 30 Minute Mentor Program, which provides current students the chance to meet with alumni who work in a variety of industries.

Although originally just an on-campus affair, the 30 Minute Mentors program has expanded this year to include virtual meetings meetings through FaceTime, Skype and Google Hangouts. We caught up with Ayanna McConnell, Manager of Student and Diversity Initiatives at the University of Michigan Alumni Association, who explained that “with programs like 30 Minute Mentors, we are really trying to provide options for younger alumni to give back to the University, regardless of where they are.”  Via requests from social sources like LinkedIn, the alumni association received a global group of over 150 alumni volunteers. The required volunteer form prompted these alumni to explain what they most valued from their Michigan experience and what they wish they knew when they were there — insights that are invaluable for an advancement team.

With clear expectations in place, both alumni and students expressed their feedback in a survey following the program’s first year going virtual. From the survey, it was found that 100% of the students found it easy to contact their mentor and that they thought the “30 minute timeline was ideal” — hoping to have the program run monthly with more mentors. Alumni also expressed their enthusiasm, with one alumnus stating that, “We have so many alumni working in social justice so I want to increase opportunities for kids who were in the same boat as mine. I was amazingly matched perfectly with a student who not only was interested in nonprofits, but also my specific niche.”

Other University of Michigan campuses, such as the alumni office at Dearborn, are picking up the program as well. As mentioned by Ayanna, “the low-cost option of hosting virtual networking events like these are capable of having tremendous impact.”

Has your institution trailed similar initiatives? Learn in our webinar “Google Hangouts for Advancement” how to utilize Hangouts for alumni networking opportunities.

Endowment Spending & Growth Calculator

Enter your fund's current value and adjust the return, spending, and inflation sliders to see how its value in today's dollars changes over time.

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In today's dollars

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4. Continue to Steward Donors

Your relationship with the donors who give to your endowment doesn’t end when you secure their gifts. Because your endowment exists to make a difference in the long term, your supporters will want you to keep in touch about its progress. Ongoing stewardship means keeping donors updated about your endowment’s performance and impact. A report that strengthens your relationship with donors should cover:
  • The fund’s balance at the start and end of the year
  • Spending amounts and allocations
  • How the fund’s returns compare to your investment targets
  • A short narrative detailing the specific impacts the endowment achieved
Create a report for each endowment rather than sending an identical document to everyone. A donor who endowed a scholarship wants to hear about the students it supported, while a donor who endowed a building fund wants updates on construction projects.

5. Upgrade Your Endowment Management Tools

Your endowment management tools should make applying your spending policy across every fund easy. Investing in dedicated software is especially useful as your endowment grows. Handling unitization in spreadsheets might work for a few funds, but as you begin to manage dozens or hundreds of gifts, dedicated software can save your team time spent manually calculating gains and losses for each one.

Why Nonprofits Need Dedicated Endowment Management Software

Dedicated endowment software brings accuracy and consistency to every part of the management process, from tracking individual funds to improving security. See how these solutions compare to a spreadsheet-based approach: nfographic table outlining the information below.

How These Methods Compare:

In managing your endowment with traditional spreadsheets, you may see:
  • High administrative burden: Manual entry across disconnected systems
  • Limited security and audit footprints: Reduced version control and audit trail visibility
  • Difficulty with donor transparency: Spreadsheets provide only static data that is difficult to turn into custom results.
By using dedicated software, you are likely to find the following improvements:
  • Lower administrative burden: Automated fund tracking and calculated allocations
  • Enhanced security and audit footprint: Audit-ready reconciliation with clear tracking
  • Greater donor transparency: Connects with reporting platforms
Dedicated endowment management software keeps your organization compliant while freeing up the time your team once spent manually managing spreadsheets.

Secure Your Endowment with Balance by EverTrue

Effective endowment management begins with excellent accounting. Balance by EverTrue handles unitization, applies spending rules, and produces audit-ready reports, so your team can spend more time on the donor relationships that built the fund in the first place.
  • Turn your data into a clear picture of long-term impact. Combine accurate fund accounting with donor reporting that showcases impact.
  • Connect with the tools you already use. Pair Balance with Impact by EverTrue and ODDER by EverTrue to create and deliver compelling digital endowment reports that you can send to donors with ease.
  • Know where every fund stands in real time. Check market values, gift history, and available spending for any fund. Then, share view-only versions with your team, so everyone stays informed.
With Balance, your team can stop spending all your time on manual management and instead add balance to your endowment workflow.

Additional Resources

To learn more about managing your endowment and other ways that technology can help your organization, check out these additional resources: Less stress, higher endowment funds. Discover how Balance provides the organization, security, and accuracy your endowment needs. Request a demo.
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