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Comprehensive Agenda for Fundraising in Economic Development Initiatives

This document outlines a structured agenda for a fundraising event aimed at economic development. It covers key aspects such as the Resource Development Group's history, specialized fundraising solutions, targeted assessment processes, and strategies for successful campaigns. The agenda includes the importance of clear communication, stakeholder engagement, and leadership in fundraising efforts. It also provides a detailed overview of potential funding sources, methods of soliciting investments, and critical do's and don'ts for effective fundraising management.

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Comprehensive Agenda for Fundraising in Economic Development Initiatives

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  1. June 14, 2006

  2. AGENDA FOR THE DAY:FUND RAISING FOR ECONOMIC DEVELOPMENT • RDG background • Process for generating funding • Do’s and Don’t’s

  3. WHO IS RESOURCE DEVELOPMENT GROUP, INC.? • HISTORY • • Since 1990 Managed 100 Campaigns Raising over $500 million specifically for Economic Development • SPECIALTY • • Delivering Customized Fundraising Solutions to Economic Development Organizations • CLIENTS • Regional EDC’s • • Large and Small, Urban and Rural EDC’s • • Chambers with Economic Development Programs • Statewide organizations

  4. SAMPLE MAJOR MARKETS

  5. SAMPLE OHIO CLIENTS

  6. HOW DO WE RAISE MONEY? • • Targeted Program and Funding Assessments • • Organize, Manage and Execute Broad Based Campaigns • • Direct Solicitation Methodology • Volunteer Campaign management • Hybrids • • Team Approach • • Guaranteed Goals

  7. AGGREGATE ED FUNDING IN SELECTED OHIO MARKETS In Ohio Markets of population 100,000 and below: • Average ED funding = $265,000 per year • Per Capita ED funding $4.35 • Revenue spit: • 50% private • 46% public • 4% fee generation

  8. HOW ARE WE DOING?

  9. ASSESSMENT GOALS • Allows Organization to • Objectively Evaluate: • Its Image • Program support among key constituents • Business • Government • Foundations • Potential funding support • Best campaign structure • Leadership • Style and approach

  10. ASSESSMENT PROCESS • • Leadership/Staff Planning Session • Identify interview targets • Develop pre-case • • Pre-Case Document • Proposed Programs/Projects • Benefits, Outcomes, Results • Target Budget • • 50 to 60 confidential interviews • 3 to 5 Focus Groups

  11. ASSESSMENT RESULTS • Broad-Based Consensus/Ownership • Blueprint for Launching Funding Model • Confidence of Achieving Funding Goal

  12. WHEN SEEKING INVESTMENTS: • • What is the money for? • • Who is in charge of spending? • • What is everyone else giving? • What do you need from me?

  13. WHAT IS THE MONEY FOR? • Case Statement must reflect: • Past Performance • Future Potential • Benefits, Results, Impact • Demonstration Packet • Mission • Action Plan • Goals & Objectives • Program/Project Budget • Investor Benefits/Relations

  14. WHO IS IN CHARGE OF SPENDING? • Volunteer Board Leadership • Campaign Leadership • Professional Staff

  15. WHAT IS EVERYONE ELSE GIVING? • • Underwriting Opportunities • • Sector Analysis/Matrix • • Investment Levels • • Funding Example • $1,000,000 Goal • 1 @ $100,000 = $ 100,000 • 2 @ $ 75,000 = $ 150,000 • 6 @ $ 50,000 = $ 300,000 • 8 @ $ 25,000 = $ 200,000 • 10 @ $ 10,000 = $ 100,000 • 30 @ $ 5,000 = $ 150,000 • $1,000,000

  16. SOLICITING INVESTMENTS • • Volunteer Board of Directors • • First-Tier Prospects (Top 10-15) • • Long-Range Prospects • Foundations • Trade Associations • • Second-Tier Prospects • • Third-Tier Prospects • • General Phase (if needed)

  17. PREP PHASE • Finalize Case Statement • Finalize Campaign Theme • Recruit Campaign Leadership • Develop Correspondence and Demonstration Packet • Develop Master Prospect List • Complete Prospect Research • Implement Administrative Systems

  18. LEADERSHIP PHASE • Board of Directors • First-Tier Investors/Prospects • Community, State, and • National Foundations • Other trade groups

  19. PUBLIC PHASE • Board of Directors • First-Tier Investors/Prospects • Community, State, and • National Foundations • Other trade groups

  20. CAMPAIGN WRAP-UP • Pledge redemption/Accounting System • Campaign Celebration Event • Investor Recognition/Relations

  21. DO’S AND DON’T’S DO: • Be personally engaged • Communicate with your stakeholders • Exercise leadership • Be open-minded and creative • Have a vision and implementation plan

  22. DO’S AND DON’T’S DON’T: • Ready, shoot, aim • Take a back seat • Leave it to your board • Wait until the last minute • Artificially deflate (or inflate) expectations

  23. QUESTIONS?

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