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Alumni Networking: It’s Who Knows What You Know

I still remember my first week as a freshman at the Taft School in Watertown, CT. In the midst of meeting new friends, being cut from both the Varsity and the JV soccer teams, and having more homework than I ever thought possible, I noticed a recurring theme that seems to be at the heart of social and professional advancement: “Networking.”

I was gradually exposed to the significance of networking over my remaining years at Taft, as I continued my education at The Northwood School for a PG year and at Wesleyan University. All three campus experiences stressed that, upon graduating, I would be joining the families of each of their respective alumni networks.

Over the course of those years, I witnessed progressive networking tools such as Facebook, LinkedIn, and EverTrue making it increasingly easy for newly minted graduates to quickly boost their social and professional connections.

When I accepted a job at Proctor Academy after graduating from Wesleyan, I was excited to share my networking knowledge with the amazing Proctor students I interacted with. While working with them, I realized two things: 1) kids today are more connected than I could have dreamed of being at their age, and 2) with the increase of networking tools, students need to understand that the phrase “it’s not what you know, it’s who you know” is NOT truly how you obtain a job or get accepted into school.

Networking should not be approached with the intention of knowing as many people as you can. Rather, networking is meant to open up the opportunity for people to learn what you actually know and who you are. When someone recommends you for school or a job, they are associating their name with yours; they are demonstrating faith in your skills and abilities, which can only be achieved when a personal connection is made. This important understanding that attracted me to work at a company like EverTrue.

To date, my alumni networks have been key in connecting me with social and professional peers. My membership in each of these networks uniquely connects me with people who already have something in common with me: our alma mater. Whether we ran sprints together on the same sports team, struggled through the same class, had the same favorite teacher, or even just walked the same halls decades apart, it is the shared experiences that connect who I am to the individuals within each of my networks. It’s this connection that makes alumni networking so effective and successful for the individuals involved and for the school itself.

I am thrilled to join a company like EverTrue that promotes and facilitates this type of alumni engagement. So whether you’re a Taft Rhino, Northwood Huskie, Wesleyan Cardinal or any other mascot at heart, go out there and connect with members of your alumni network. Remember that in doing so you have the opportunity to show who you are to an abundant community of possible future mentors, peers, and friends.

EverTrue,
Mike

 

The post below is by Mike Palladino, the newest member of the EverTrue team. Mike is a proud Taft, Northwood, and Wesleyan alum and is excited to help EverTrue better connect alumni to their alma mater and one another! Follow Mike on Twitter at @PalladinoMike

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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