Minnesota Alpha Chapter of Pi Beta Phi at the University of Minnesota
Issue link: https://www.epageflip.net/i/1065206
© 2018 PENNINGTON & COMPANY FUNDRAISING, LLC. ALL RIGHTS RESERVED. 39 debt-service capabilities, projected rents and fees, and similar issues should be explored to determine best-case and worst-case situations. Some alumnae expressed interest in obtaining information regarding the finances and funding of the project, and a solid business plan needs to be developed. 7. Engage the services of a qualified attorney to provide an opinion letter to determine educational versus non-educational space. 8. Contact a 501(c)(3) foundation, i.e., the Pi Beta Phi Foundation, to initiate the process of setting up an account for tax-deductible gifts. 9. A specific dollar goal above $600,000 should not be set until after solicitation of selected major gift prospects, insiders, and members of the alumnae leadership is complete (8 months). This solicitation period will constitute the insider phase and quiet phase of the campaign. Success in acquiring the top gifts will determine the final goal to be announced at a later date. The early gifts and pledges will, in effect, dictate the final goal. 10. Identification and recruitment of strong volunteer leadership for the campaign should be addressed immediately. High-profile, well-respected alumnae who make significant gifts for their capability level will have greater success soliciting fellow alumnae. A campaign chairman/co- chairmen, potential honorary chairman, and executive committee must be appointed as soon as possible. 11. Campaign giving categories must be developed and named for each of the following gift levels: $500,000 and above, $250,000-$499,999, $100,000- $249,999, $50,000-$99,999; $25,000-$49,999; $15,000-$24,999; $10,000- $14,999; $5,000-$9,999; and $2,500-$4,999. In addition, a plan that ensures proper donor recognition must be developed. The donor recognition plan should include, at a minimum, a permanent plaque to be located in a prominent place in the facility, listing contributors who give $2,500 or more to the campaign. 12. Campaign and solicitation plans should be organized in a manner that provides for sequential fundraising. Sequential fundraising refers to the technique of classifying prospects in accordance with their estimated giving potential, then approaching those individuals (especially pace-setting ones) in sequence, avoiding any solicitation of lower categories of donors until the majority of the top donors have been seen. The only exception is the solicitation of insiders and members of the alumnae leadership. Initial gifts should set the standard for the campaign and raise the giving expectations of all other alumnae.