Student Academic Fundraising Fundamentals and Processes

Contents Flowchart for External Fundraising Process Importance of Coordinated Requests Getting Donors Handling donations: Integrity and Accountability Stewardship: Continuing the Relationship

Flowchart for External Student Fundraising Student has a project, event, program or activity in mind Academic-related projects/programs Student submits proposals/appeals to School Chair to seek approval for external funding unsuccessful Approved Additional Approval for External Funding Student obtains approval from Dean’s Offices to ensure alignment with strategic funding priorities and avoid competing for College’s space for private support. If ≥ $100,000 Internal Funding Student explores internal funding possibilities Student Org/Hall/Affinity-related group-related activities Student submits proposals/appeals to Dean of Students/SAO to seek approval for external funding Submission of Proposal Proposal submitted for external funding External Funding Student explores external funding possibilities Approved Support from Development Office Development Office can assist if Dean’s Office recommends that such project are of strategic academic fit with their college’s funding priorities

DO’s Annual Giving programmes raises funds for: School Advancement Funds (Administered by Chair of Schools) Students Activities Fund ( administered by SAO) Across the University, DO raises funds for academic units: Professorships and Fellowships Bursaries, Scholarships, Awards of Excellence Programmes and projects Centres and Institutes School specific endowments Overseas Programs: GIP, INSTEP, GO FAR,GDP, INTERNSHIPS. Importance of Coordinated Requests

Avalanche of requests -Students, faculty, staff, Development Office, President’s Office – all approaching almost the same organisations and foundations -Appeals and requests from other universities and organisations You are a small voice in the flood Prioritize your funding requests and strategize

Getting Donors– Some Tips Prospect Ask Cultivate

Where to find your Prospects (a good match): Alumni of your School / College / Division Sponsorships from businesses with specific interest in your cause Special interest clubs/societies that stand for your cause Grants from charitable foundations or community organizations with specific interest in your cause Getting Donors

Don’t mail the entire phonebook – choose your target eg. –Companies in the same line of business as your activity –Companies whose customer profile matches your participants in your event –Companies/ orgs with history of supporting your kind of event/ cause –Companies whose sponsorship policy matches what you are looking for/ the benefits you can offer

Getting Donors Leverage on existing relationships eg.  Approach alumni of your school to donate or open doors o They can relate best to your cause o They have a ready interest in your activities and club o They have access to new resources/ or different circles of contacts Build a school club database of past members ie. alumni Build a database of past donors, their gift amounts and events supported Call /discuss/visit the contact person in the organisation to learn their process/procedures/ timeline

Writing a Funding Proposal 1.Project overview What, where, when 2.Need Statement Not your need, but the macro needs of the field Why your FYP/programmes exists and what you stand for to improve society. What is your purpose to serve the greater good? 3.Proposed Solution What you intend to do to address the need, solve the problem

4. Objectives/ goals of the project/ event/ or benefits to the community State measurable outcomes (not just project activities) 5. History of the project (if appropriate) 6. Parties carrying out the project (if appropriate) If specialists/ experts are involved, include relevant qualifications 7. Event promotions (if appropriate) 8. Sponsor benefits (if appropriate)

9. Why the prospect should be interested in your project/ event Overcome objections, defend the idea Show alignment with prospect’s objectives Your ability to carry out the project Your ability to meet project objectives 10. Funding level requested of the prospect 11.Cover Letter (summarizes all the above points, including funding level requested). Thank them for considering your request.

Handling Donations: Integrity & Accountability Now that you’ve received the cheque (payable to Nanyang Technological University), What do you do?

Donation/ Sponsorship for Student Academic Projects e.g. FYP, academic curriculum related projects Cheques Student informs donor to indicate the following in Payment Advice: 1.A/c Name: Nanyang Technological University 2.School and Project Title In-Kind Donation Student submits to DO for recording purposes GIRO Student informs donor to indicate the following in Bank Advice: 1.A/c Name: Nanyang Technological University 2.A/c Number: OCBC School and Project Title Students submit to School: 1.Sponsor’s letter, with cheque 2. (must be duly completed) Students submit receipts/invoices to School to process payments DO generates tax-deductible receipts and thank-you letters to donors, with c.c. to Chair of the School School endorses Gift Transmittal Form and forwards it with the payment and sponsor’s letter to DO 5 Working days later

Handling Donations: Integrity & Accountability On receiving a cash gift: Download and fill in the Gift Transmittal Form. Why? -Proper processing by NSS Finance -Government Matching is 1 :1 -Tax benefits for donor -Appropriate recognition by NTU On receiving an in-kind donation Download and fill in In-kind Donation Form -Send to DO for donor acknowledgement

Handling Donations: Integrity & Accountability If donation handling procedure is not followed: NTU unable to get government matching dollars – “free money” Donor does not get double tax deduction Donor does not get recognised (listed) in NTU Annual Report or Honour Roll of Donors Audit checks by Commissioner of Charities: NTU’s IPC status

Stewardship: Continuing the Relationship Thank You!

Stewardship: Continuing the Relationship Saying thanks and showing gratitude/ interest –Letter or handwritten note to thank donor, telephone call, face to face –Send greeting cards/ congratulatory notes when appropriate Engage donors/ prospects –Update donors/ prospects on progress Newsletters, articles, news clippings of your club’s activities Photos/ videos/ write-ups of event/ project Notes/ cards from beneficiaries –Involve donors Invite them to your event to see the buzz/ to volunteer on field trips Ask for their opinion, invite feedback

Stewardship: Continuing the Relationship Accountability –Let donors know donations have been used appropriately, outcomes are achieved News clippings, photos/ videos/ testimonials etc –Inform donors if funds need to be put to different uses from initially agreed/ project has changed in material way Think and act long-term –Students come and go but the School’s student projects remains –Revisit the donor for another student’s project next year

Questions?