Advice: Terms of Endowment
Q: One of our faculty members told me that she's worried that the terms of a certain endowment make it too difficult to spend it. She wants to wait until the donor is deceased and then spend the fund on other priorities. What should I do?
A: Don't be afraid to work directly with your donors (while they are alive!) to explore these spending challenges. You owe it to them and to your organization to help align charitable resources with institutional priorities. Donors have personal reasons for the gifts they make, but above all they want to help achieve a specific purpose or positive outcome. By being upfront with them about the usefulness (or lack thereof) of their restricted gifts, you are demonstrating the highest level of stewardship. Sure, the conversation may go south. But if it does—and if the gift's intent differs drastically from your core mission—then perhaps your institution is not the right fit for your donor. Either way, your efforts to find common ground will not go unnoticed."
Erika Bernal, senior director of development and alumni relations, Marshall B. Ketchum University
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Overheard at CASE Summit
A collection of tweets, quotations, advice,and more from CASE's premier conference for advancement professionals
"Get out of your office and walk around campus. I know you think you don't have time, but you don't have time not to."—Joan Garry, featured speaker, nonprofit consultant
Michael Eicher of @OhioState says the "importance of managing the brand" is poorly understood in #highered. (Amen.)—Andrew Careaga (@andrewcareaga), Director, Strategic and Marketing Communications, Missouri University of Science and Technology
@nytdavidbrooks wonderful keynote at #casesummit. So many points to consider. What stood out the most to me? Thank my mother more often.—Tyler Kreitz (@tyler_kreitz), Director of Business Development, AppZocial
"We can't seal ourselves off from encounters with difference. We have to engage with others and with different opinions—even the stupid ones."—Ruth Simmons (pictured), featured speaker, President Emerita, Brown University and Smith College