College fundraisers are entering the 2021 fiscal year with more confidence than when they closed the last one, according to a series of surveys by the educational advancement firm Washburn & McGoldrick.
In April, just 35 percent of college fundraisers said they had some confidence that their institution would meet its fundraising goals for fiscal year 2020. The June survey, however, found that 54 percent expressed mild confidence about reaching their fiscal year 2021 goals.
As fundraisers look ahead to the next fiscal year, which for many will begin July 1, a follow-up survey in June found a notable decline in the share of fundraisers who don’t expect to meet fundraising goals in the 2021 fiscal year. In April, 43 percent said so, but by June, that number was just 28 percent.
It may help that beginning on July 1, most fundraisers will start working toward targets that were set during the coronavirus pandemic. But donor conversations are the main factor buoying confidence levels, says Karin George, managing principal at Washburn & McGoldrick.
Despite that increased confidence, though, many fundraisers expect it will take as long as a year to make up the revenue they’ve lost since the coronavirus pandemic began.
The June survey polled more than 380 college fundraisers at 53 institutions, including liberal-arts colleges and public and private universities. A third survey will be conducted at the end of the summer.
Shifting Priorities
The latest survey also gives an initial glimpse into changing fundraising priorities within higher education.
The survey reached respondents during the first week of June, when protests for racial justice were beginning to sweep the country. Some respondents shared comments about how their college was considering feedback and re-examining its fundraising appeals and alumni programs to make them anti-racist.
“I think Covid-19 will change how we fundraise for a long time, but the Black Lives Matter movement will be something the institution and fundraising will have to address,” one fundraiser wrote. “I’ve had comments that communications seem disrespectful and tone deaf during this time, especially to Black alumni.”
“Our institutional response is now not just about the impact of Covid-19 but is also now focused on our ongoing efforts to educate and act for racial justice,” a chief advancement officer wrote.
Others mentioned allocating more funds to hiring diverse faculty or establishing research centers on racial justice. And while colleges may have held those goals for some time, George says it’s notable that fundraisers from the leadership level down to the gift-officer level are now discussing how to incorporate racial justice into their work.
According to the June survey, 85 percent of fundraisers are responding to Covid-19 by focusing more on raising money to support financial aid, and 74 percent are focused on winning general operating support. More than 40 percent of respondents said their efforts no longer highlight capital projects.
As fundraisers gear up for a new fiscal year, it’s clear that they’ll be operating under a new normal. Most fundraisers say they expect these changes to endure over the long term.
Nearly all respondents — 98 percent — said their college was no longer permitting fundraisers to travel for meetings or events. And 90 percent said their college had barred in-person meetings with donors and alumni on campus. Another 84 percent said they were prohibited from conducting those meetings off campus. Nearly 83 percent of respondents, however, said the number of video meetings they were having with donors had increased since March.
Among the other findings:
- Just 16 percent of respondents said their college had suspended appeals to major donors.
- 13 percent said they put their annual giving drive on hold.
- 92 percent said their college had suspended on-campus events, including reunions.
