‘Tis the season for planning. And for Development, part of that planning involves setting fundraising goals for each of our benefiting units.
One common myth is that the fundraising goals of the individual fundraiser in a benefiting unit should equal the fundraising goal of that benefiting unit. That is not true. Our fundraisers have goals that demonstrate individual performance, not institutional performance. Institutional performance is measured by our success in meeting benefiting unit goals (regardless of the fundraiser or fundraisers associated with those gifts) and by the fundraising program.
For the benefit of our entire department, I thought it would be helpful to better understand the process we use to set fundraising goals. It is part art and part science, and the process has changed slightly with the advent of our new dashboards and our fundraising forecast.
Let me begin by explaining that when we set our five-year fundraising goals, we relied very heavily on third- and fifth-year averages to understand what our benefiting units were seeing in terms of fundraising results. We adjusted for large gifts that skewed our averages to better understand steady-state fundraising. Then, we applied growth averages year-over-year to better understand how we get from our current state of fundraising to a steady state of $75 million. Then, using our pipeline, we mapped out the potential for principal gifts over the next five years. This exercise led us to a comfortable goal of $400 million over five years.
When we set yearly goals, we reflect on the averages we originally used to set our five-year goal, and the growth model we applied, asking ourselves whether this growth trajectory is supported by the proposals currently in the pipeline and, more importantly, the forecast of what we can expect to close in the next fiscal year. We also reflect on portfolios and determine whether we have folks we can move closer to solicitation in a shorter timeframe. We then set goals that we feel are ambitious, but still attainable.
In addition to breaking out our goals by benefiting unit, we break out goals by fundraising program. That way, if our goal is $75 million, we understand how the $75 million will be achieved by benefiting unit or by fundraising program.
Perhaps not everyone gets as excited as I do around goal-setting time. What I love about goal setting is how thoughtful a process it is. It forces you to pause and think very strategically at every level. Moreover, goal setting for me is all about opportunity and forward thinking.
So, for those of you who are in the thick of it, hats off to you. And for those of you who may be on the periphery, I hope this gives you a line of sight into what makes up this whole mysterious world of fundraising goal setting.
Ask the ALT
This is a friendly reminder that the next Advancement Leadership Team (ALT) Q&A session will be at 11 am ET on Thursday, Feb. 23.
For those who are new to Queen’s Advancement, the rules for these open Q&A sessions are as follows: attendance is optional; anyone can ask any member of the ALT any question on any topic; and there will be no pre-set agendas, so the Q&A session will last as long as attendees have questions. (The optional Zoom meeting already in your calendar is booked for up to 45 minutes.)
We understand that some people may not be comfortable asking questions in front of a group. If you would prefer to , we are happy to provide that option. Bianca Bruni will manage these anonymous questions. Submitters will not be identified to Bianca through the survey, and she will ask the questions on your behalf at the ALT Q&A.
The option to personally pose your question(s) at the meeting still exists.
Please consider questions you would like the ALT to answer and either submit them via the anonymous survey by 4 pm on Feb. 21 or come prepared to ask them Feb. 23. Members of the ALT look forward to the discussion, and we will do our best to answer your questions.
CASE award submissions
The Council for Advancement and Support Education (CASE) is accepting submissions for the 2023 Circle of Excellence Awards from Feb. 13 to Mar. 15.
The awards recognize exceptional achievement in advancement services, alumni relations, communications, fundraising, and marketing.
To make sure your impactful work gets recognized this year, check out the CASE website for the . To have your entry optimized and submitted, please send a final copy of your submission to Bethany Mulder-Kelly no later than Tuesday, Feb. 28.
Employee spotlight
The Employee Spotlight celebrates the arrival of our new and existing staff by profiling responses they share through a fun and informal survey that will help us get to know them better. Be sure to review these profiles and use these fun facts and tidbits to find commonalities, embrace differences, and spark a conversation.
This week, we spotlight Regional Strategy Coordinator, Nicole Lynch. Learn more about the and the one meal she could eat the rest of her life.
Jobs with Advancement
There are no job postings to announce this week.