Too well endowed? - top colleges concerned with their endowments - includes related article on college fundraising

Washington Monthly, Sept, 1998 by Michelle Cottle

But just because someone can afford to give does not mean they are inclined to give, stress both Johnson and Boardman. Thus the care and handling of potential big donors is approached much more delicately than soliciting "the masses," as one university official put it. Before approaching a prospect, the development office tries to determine what projects might interest the person. Someone who majored in English might consider endowing a professorship in that department; other alumni are more inclined to support the football program or campus beautification. It's the challenge of discovering what prompts people to open up their checkbooks, says Boardman, that he finds most appealing about his job: "Fund-raising is an art, not a science. There's a lot of psychology involved, a lot of strategy--finding out what motivates people to want to be generous."

How a request is made is as important as the actual nature of the request. Forget the random phone calls and form letters most of us get. Big-money gifts are solicited face-to-face. Top university officials are typically involved--Boardman estimates Neil Rudenstein spends a third of his time on fund-raising--as are alumni who have themselves made a major gift. ("Peers talk to peers" is a sentiment I heard more than once.) Princeton does its leadership-gift solicitation in pairs, preferably one staffer and one alumni per potential donor, says Johnson. "We find it compelling to have a volunteer march in and explain why they're volunteering time--and perhaps mention some indication of what they are committing to the campaign," he explains.

Finally, timing is key. As at many universities, Princeton's fund-raising campaigns last five years to ensure that every graduate has a major reunion-- 5th, 10th, 15th, etc.--during the course of the campaign. "When a class has a major reunion, we make a special effort to get people back on campus," says Johnson. Nostalgia runs high at these celebrations, resulting in "huge dollar success" for the campaign.

All of this may seem a little calculated for some people's taste. But Johnson emphasizes that schools such as Princeton are competing with other causes for donations and can ill afford to become complacent in their fund-raising. "A significant number of our alumni are viewed as community leaders and are being asked to support any number of things. If we just assumed Princeton was always going to be someone's No.1 priority, it would be a serious miscalculation."

God forbid some alumnus waste his money on Jerry's Kids or the Salvation Army.