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The Young Prep School Alum: Dos and Don’ts

As a recent graduate of Lawrence Academy in Groton, MA and an alumnus of the Fenn School in Concord, MA, I am fully aware of the importance for schools to develop solid relations with alumni while they are still young. I also know firsthand what does and does not work for independent schools to keep recent alumni engaged and connected with their alma mater.

The first six months to a year after graduation is when recent grads have their most vivid memories of the time they spent at school; it is vital for alumni and development offices to reach out to these young alums at this time. However, there is a fine line that schools must walk as to avoid seeming too eager and greedy, particularly with young alums.

Within a few weeks of graduating from the Fenn School in June of 2007, I was contacted about a young alumni wiffle-ball tournament in August. It was the perfect opportunity for my alma mater to foster valuable relationships with my class as new alumni before sending us letters in the fall, appealing for the annual fund.

Fenn’s efforts to keep me involved did not stop at just one event. Instead they organize several events a year. This is a great way to keep me interested about my former school. Alumni want to experience a strong connection with their school rather than feel that they are a mere piggy bank for the development office. In my opinion, interactions with alumni should more often be directed to alumni events and school news than fundraising if an institution plans to have success with young alums.

As a young alumnus, I recognize that being too passive does not work well. I do not want to be left completely out of the loop about what is going on at my former school. A good way to combat this potential hazard is to work hard to update alumni when their school has important events or goes through major changes. These updates should also be across many channels of communication because the more methods of contact a school uses, the greater the chance alumni will be engaged.

Lawrence Academy has done a great job of keeping in touch with me through mail, but because I am a college student living away from home, I do not receive that mail very often. Sending email and using social media on a regular basis would increase exposure to my fellow young alumni and me.

When it comes time each year to decide whether or not to support my former schools, I am much more likely to donate if each school has succeeded in engaging me.


What has your office found to be most successful in connecting with your most recent alums? What communication mediums, or events has your school hosted that have you seen the most positive results with? Let us know!

 

 

This article is written by Will Joumas, a student at Villanova University and an intern at EverTrue. Will is a proud alum of Lawrence Academy, and of the Fenn School.

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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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