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Digital Paths to University President Prestige

Spring is in the air and once again schools, colleges and universities are aiming to finish strong and to reach their annual fund goals. While reflecting this week on the principles that make reaching these goals a reality, I came across an excellent post on Inside Higher Ed that reminded me of the truthful adage that “people don’t give money to institutions, they give money to people.”

Although most institutions use every means possible to make president names known, a recent survey study by Vanity Fair stated that a whopping 68% of alumni cannot name the president of their alma mater.

This stat = sad news for advancement pros.

Yet, with digital tools abound, there remains plenty of hope for university presidents to become more accessible and known to alumni. University presidents flocking to Twitter provide a great example of such promise. Amherst College;s Biddy Martin and The Ohio State University’s Gordon Gee run individual accounts that are responsive to community needs. Other accounts, such as Thayne McCulloh of Gonzaga University and Renu Khator of University of Houston, have been made with future university presidents in mind with handles such as @UHPrez and @Gonzaga_Prez. (See a whole list of HigherEd Admins worth following here).

Twitter is not the only place for digital presidential prestige; other outlets like video can also make a significant impact.

Bowdoin College, for example, has hosted live webcasts with their president, Barry Mills. These webcasts allow for alumni to participate with real-time questions, and help break down barriers between the greater school community and leadership.  Whether checking-in during the holidays or taking part in viral sensations, like President Benson of Southern Utah University getting in on the Harlem Shake with students, any opportunity for alumni to see institutional leaders in a more human helps foster stronger relationships and ties to the institution.

In what ways does your institutional leadership connect with your constituents?

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.

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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