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beTrue Bulletin: February 22, 2013

Welcome to the first edition of beTrue Bulletin – a new series where we highlight news and headlines in advancement. This week we’ve got stories about an awesome alumni-driven social media campaign, the increase in giving to colleges and CASE’s first Student Engagement and Philanthropy Day.

Babson Alumni Launch Social Media Campaign in Hopes of Turning the Vice Provost Into President from Bostinno

A pretty impressive social media campaign has come to our attention thanks to BostInno. Started in early February, Babson Alumni took to the metaphorical “streets” to campaign for the Vice Provost and Graduate School Dean, Dennis Hanno, to be selected as the new President of their alma mater. The Facebook group was created on the February 7th and in less than 24 hours “more than 1,700 people (had) joined the group”.

Since the article was published on February 12, the movement has been growing momentum. The facebook group is up to 2,593 as of this postin and if you are devoted BostInno reader, you’ll see that he was recently named as one of the finalists for the “50 on Fire Education” competition. The fact that this is an alumni-driven movement shows how hard alumni are willing to work for the future of their alma mater if they walk away feeling a connection to the school and it’s leadership. Whether he is President of Babson or not, it’s certainly an exciting time to be Dennis Hanno or, as the facebook group says, #prezhanno.

GIVING TO COLLEGES UP 2.3% FROM INSIDE HIGHER ED

This past year saw an increase in donations made to colleges and Inside Higher Ed walked us through the results of the survey done by the Council for Aid to EducationThe article talks about where the gifts have been directed (to current operations rather than capital purposes), what schools led with contributions per student (University of Texas MD Anderson Cancer Center with an average of $590,719 per student) and which single institution raised the most money (as the first institution to earn over $1 billion in one year, Stanford University won this honor). While not all the survey results were positive, and the increase in giving only slight at 2.3%, it does show that alumni are bouncing back from the recession and making their support to their alma mater a priority. Plus, the drop in the proportion of alumni who are making gifts actually indicates that “there has been an increase in ‘alumni of record,’ or alumni for whom the institution has a means of contact” which means it’s “a positive sign that institutions are keeping better records”.

One Day… Global Impact from CASE

The final spotlight for this beTrue Bulletin has been saved for a new initiative from the Council for Advancement and Support of Education (CASE). This year CASE ASAP (Affliated Student Advancement Programs) is launching the first Student Engagement and Philanthropy Day on Feb. 28. We’ll likely write a whole post about this awesome initiative in the coming weeks but in the meantime, we wanted to highlight this incredible idea and introduce our readers to what some of the participating schools have planned. Will your school join?

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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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.

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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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