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Trust & Foundations Strategy Document
Submitted by Joanna on 10 January, 2008 - 17:36.
Hi
I am a Trust Fundraiser working in the Development Department of a leading Business School. I primarily fundraise for scholarships, research departments and adhoc projects. I have only been in post since November but have identified that I need to increase the existing number of trusts & foundations that support the University.
There is at present a fundraising plan (dated 2005) which hardly mentions trusts & foundations, in order to move things forward I have suggested that I come up with a fundraising strategy for the next three years. I have never done a strategy before and my line manager is basically asking me to come up with a document from scratch. At present I have spoken internally to colleagues within my own department and others to find out what the funding need are. I have also looked at key areas which I feel I need to focus on which are:
1. Aims, objectives and outcomes of strategy
2. What current documents are in place (my predecessor did a brief SWOT analysis)
3. Purpose of strategy
(i) Increase of funding
(ii) What has worked well
(iii) Lessons learnt
(iv) Financial targets
(v) How this links in to my own objectives
(vi) Sustainability
4. Recommendations to move things forward
I wanted to ask if anyone else has had to devise a strategy, have I missed anything out, are there any documents out there which provide guidance or do I have pretty much everything covered.
Many thanks
Joanna
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Small trusts
Writing to small trusts can be worthwhile. Once the bigger stuff is out of the way.
Over half the applications I do are to what I call the 'dribbly bits'.
Smaller trusts that can't support any of our salaries, costs or projects on their own, but could contribute to one area.
Often not a lot of details available for the trust and many don't have contact numbers.
So I don't spend a massive amount of time on each one.
Usually 2 page application, often looking very similar to other applications (but try and change plenty, add new bits, take old bits off and so on - but a limit to what can be vastly different).
Had some successes, especially with the local trusts that may already know of us.
But the amount asked for, the lack of details about the trust and the fact its a speculative application mean I try and limit the time spent on them.
Spending 2 weeks on an application for £250 would be a waste of money, spending an hour or two can be more worth it. If I could get away with 20 minutes I would. :)
And only while awaiting a reply from the larger or targetted trusts or awaiting time limit to come along to reapply to the larger or targetted ones.
Martin
Twas a dark and stormy night.
Thunder rolled.
It rolled a six.
Trusts & Foundations Strategy
Thanks so much Gerry for your feedback which is really helpful. I agree regarding the fundraising plan being so out of date but I have found this fairly common throughout the charity sector and in my last place they didn't have one at all!!
Hi, Joanna I think, within
Hi, Joanna
I think, within the terms you have set yourself, you have most things covered. A couple of things to consider :
It may be wise to specify the nature of the Trust bids you will be looking to make, and highlight the pros and cons - for instance, small bids to myriad trusts will probably yield some rewards, but not get anywhere near your target; a campaign aimed at the bigger trusts, better targetted and researched, will take longer, but will, in the end, pay bigger dividends.
The methods you will use to research and develop contacts with trusts should also be in there.
I make these two points on the basis that, by the sound of it, the Uni is not terribly professional in this area, and it will be useful for you to ensure that their expectations are reasonable!
I would also be troubled about that 2005 Fundraising Plan - a good plan should be a working document, updated annually; there should be a 2007 version!
Good luck, anyway, I think You're taking the right approach.
Gerry Beldon FInstF
Director, 26-01 CIC
www.26-01.com