CSM Foundation Overview 02/26/2015. Presented by Brian Winkelbauer - PDF

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CSM Foundation Overview 02/26/2015 Presented by Brian Winkelbauer 1 CSMF Mission, Vision and Values Mission The Colorado School of Mines Foundation advances the university s mission by maximizing private
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CSM Foundation Overview 02/26/2015 Presented by Brian Winkelbauer 1 CSMF Mission, Vision and Values Mission The Colorado School of Mines Foundation advances the university s mission by maximizing private support and managing resources to fund the present and secure the future of Colorado School of Mines. Vision To provide opportunities for investment in people and ideas to engineer a vibrant global future Values Service: Exceeding expectations to donors, the university, colleagues, and the community Respect: Treating others the way you wish to be treated Integrity: Being true to your word through honesty and transparency Mutual Support: Helping anyone and everyone find success through collaboration 2 In a few words. Our job is to match university needs with donor passions and interests. We want to engage donors with Mines in a way that is most meaningful to them. 3 Campaign Overview Campaign Development Summary Report ($mm) As of February 24, 2015 Gifts & Fundraising Initiative Commitments (1) Goal % of Goal CAMPAIGN FOR PRIVATE SUPPORT Philanthropic Support (2) Financial Aid % Faculty Support % Departmental Support % Capital Projects % Campus Initiatives (3) % The Mines Fund % Other Unrestricted % Total Philanthropic Support % Other Private Support Non-Governmental Research Support (4) % Total Other Private Support % Total Campaign for Private Support % PRIVATE SUPPORT FUNDRAISING STATISTICS Endowment Funds % Current-Use Funds % Capital Projects % Other Private Support % Total Campaign for Private Support % CAMPAIGN FOR REVOCABLE DEFERRED SUPPORT (5) Total Revocable Deferred Support % (1) Includes outright gifts, pledges and certain irrevocable planned gifts calculated at net present value. Cash may or may not be received in the year a gift is pledged. (2) Includes approximately $13.7 million in gifts and commitments counted prior to the official start of the campaign. (3) Includes certain research-related gifts and grants that do not have associated deliverables. (4) Includes private industrial research grants and consortia memberships. Non-governmental research support is estimated at $12.0 million for the first half of fiscal year (5) Planned giving vehicles that can be cancelled or revoked prior to completion. Revocable deferred gifts are not included in campaign totals but are tracked as an additional indicator of the university's future strength. 4 CSMF Staffing Functional Area # of employees Support (Administrative) Total Executive Administration Advancement Administration Major Gifts 6 6 Annual Giving Corp Foundation Relations 3 3 Gift Planning Total Advancement 18 Advancement Operations Admin Constituent Relations 4 4 Advancement Services 5 5 Research 2 2 Marketing & Communications 2 2 Total Advancement Operations 15 Finance & Administration GRAND TOTAL 45 5 What do all those people do? Fundraising and Campaign Planning and Execution Provide guidance to the University regarding the feasibility of specific goals and initiatives for which the University is seeking private support Serve as ambassadors for Mines Relationship and life-cycle management and strategy Marketing and Communication Develop materials that promote the University to selected constituencies or to the general public Align with the University s efforts, communicating in both a complementary and collaborative fashion Constituent and Donor Development, Relations and Stewardship Create and execute activities designed to encourage prospective and current donors (individuals, corporations, foundations, and organizations including employer matching gifts) to provide support for the University Activities include prospect identification and qualification, donor cultivation, donor research, donor solicitation, donor stewardship including but not limited to periodic updates and/or reports to donors to assure that donor intent is being fulfilled, and appropriate acknowledgment and receipting of donor gifts Funding and assisting in the planning and execution of constituent events internally and across campus 6 What do all those people do? Gift Planning Activities designed to identify, consult with, and solicit individuals who wish to make deferred gifts or bequests and to assist those prospective donors and/or their professional advisors in designing their gifts to best meet the needs of the University and the donor Compile and maintain Alumni, Donor, and Prospective Donor Records Maintain accurate and complete research and record-keeping on donors, past donations, and prospective donors Make reasonable efforts to ensure that personal donor information is maintained confidentially and protected to the fullest extent allowed by law Finance and Administration Receipt gifts Endowment management - manage endowed gifts to maintain intergenerational equity and support for Mines- $268 million Investing of assets (includes $33 million of University endowments) Spending distributions - FY 16 estimated total is $8.5 million Trustee oversight for charitable remainder trust gifts and management of gift annuities gifts - $16 million Receipt gifts of real properties, manage and sell property; sales proceeds go to benefit Mines Work closely with Mines fiscal services Financial asset management and reporting in accordance to GAAP and FASB. Annual independent audit. Part of CSM financial report to State Auditor Human Resources, Payroll, Benefits- 45 employees 7 Annual Commitments and Donor Counts CSM Foundation raised $47.8 million last year, making FY14 the third consecutive recordbreaking fundraising year and the most successful fundraising year in the university s 140-year history. Total Fundraising Commitments and Total Donors (1) $50,000,000 $47,776,909 $45,000,000 $40,000,000 $35,000, $32,360,696 $35,472,744 $30,000,000 $25,000, $20,000,000 $15,000,000 $10,000,000 $15,152,613 $11,414,876 $5,000,000 $ Total Fundraising Commitments Total Donors (1) Each donor is only counted once over the course of the year. Joint donors are counted as two donors unless both donors are Mines alumni. 8 Fundraising by Gift Restriction On average, approximately 31% of CSM Foundation fundraising supports financial aid, 23% provides support to capital projects, 17% supports important campus initiatives, and 11% provides faculty support. % of Fundraising Commitments by Gift Restriction 100% 90% 80% 6% 9% 1% 11% 2% 1% 5% 6% 6% 11% 17% 8% 70% 26% 34% 7% 60% 3% 64% 30% 50% 14% 4% 40% 14% 7% 50% 30% 20% 10% 0% 21% 9% 10% 33% 6% 26% 1% 21% 18% 12% 5% Campus Initiatives Capital Projects Departmental Support Faculty Financial Aid Mines Fund Other Unrestricted 9 Growth in Endowment Assets $300 Year End Market Value of the Mines Endowment ($mm) Fiscal Year 1996 Fiscal Year 2014 Transforming Resources Campaign Transforming Lives Campaign $271 $250 $231 $200 $196 $204 $150 $100 $82 $105 $126 $115 $106 $107 $129 $139 $155 $175 $165 $148 $166 $67 $50 $49 $ Investment Endowment Approximately 49% of the Mines endowment provides scholarships and 27% provides faculty support. $300 Mines Endowment by Gift Restriction ($mm) $271 $250 $231 $36 $200 $150 $100 $50 $139 $26 $20 $43 $50 $155 $22 $24 $50 $59 $175 $165 $23 $23 $148 $25 $24 $23 $18 $57 $50 $39 $70 $68 $68 $166 $28 $20 $42 $76 $204 $196 $34 $37 $23 $21 $48 $48 $91 $98 $32 $24 $62 $113 $28 $73 $134 $ Student Support Faculty Support Programmatic Support General/Unrestricted (Board Designated) 11 Endowment Support for Mines Over a 10-year period, the Mines Endowment provided support to the University and Foundation in the amount of $95 million. $65 million was distributed to the University for donor restricted purposes. $10 million from unrestricted Board-designated endowments funded capital projects, land purchases, and other projects. $20 million was a reinvestment in Mines by providing funding for Foundation fundraising efforts that created additional support to the University. $16.0 Annual Endowment Distributions $15.3 $14.0 $2.7 $12.0 $11.8 $12.3 $10.0 $8.0 $6.0 $4.0 $2.0 $5.6 $0.8 $4.8 $9.8 $9.1 $9.1 $8.6 $0.9 $7.8 $2.4 $1.7 $2.4 $1.0 $ $5.7 $1.5 $6.8 $6.9 $5.8 $6.1 $6.4 $ $7.1 $ $7.8 $3.7 $8.7 $ Spending Distributions Funding from Unrestricted Board-Designated Endowments Administration Fee 12 CSMF Value Provided bond financing for the construction of the GRL building - $10.3 million The Starzer Welcome Center - $6.3 million; $3.3m in cash and $3m through financing lease Provided emergency financing to acquire Jones Rd and Ford properties on 19 th Street - $4.3 million Loan to CSM for the Recreation Center construction - $2.5 million Purchase of various properties for campus - $1.2 million Berthoud Hall classroom renovation - $800,000 Proof of Concept funding for Mines Technology - $725,000 President, Provost and VP Advancement searches, and related initiatives - $375,000 Marquez Hall - $200,000 Earth Energy Institute EDA grant - $80,000 Boettcher Foundation grant match - $50,000 Created Unrestricted Board-Designated endowments for professorships, department and faculty support, and scholarships - $17 million Annual expenditures in support of Mines students and programs is approximately $15 million; approximately $8 million of this support is from endowment distributions. The Mines Fund raises approximately $2.0 million for the institution annually 13 CSMF Strategic Plan - Working Draft Strategic Goal 1: Provide the philosophy, methodology, relationship management, processes, support and stewardship to help Mines meet its goals for private support. Overall Strategy: Increase annual fundraising Overall Strategy: Build a culture of philanthropy on campus Overall Strategy: Be donor-centric and university-centric in all decisions, actions, and operating processes and procedures 14 Strategy Specifics Under Goal 1 Overall Strategy: Increase annual fundraising capacity FY 2015 Secure $40M in new cash and commitments Increase visibility of planned giving among staff and constituencies; increase number of planned gifts Reevaluate annual giving segmentation and review core stewardship plan for retention and upgrades; align annual giving goals with pipeline development With campus, build larger, more comprehensive corporate partnerships Manage successful, well-coordinated campaign Continue build-out of prospect pool using all tools available for identification of unassigned prospects Fully utilize volunteers (Board of Governors and others) Showcase faculty and staff Leverage outgoing and incoming leadership 2-5 years Implement rolling strategic plan to sustain and increase annual totals Sustain CFR contribution range of 25-30% of total CSMF goal Sustain accomplishments made throughout campaign Double the number and dollar amount of documented planned gifts Increase number of donors and individual gifts Increase endowment giving to align with goal for Mines endowment Successfully finalize Transforming Lives campaign Prepare first phases of next campaign Continue to identify programs, initiatives, faculty/staff 15 Strategy Specifics Under Goal 1 Overall Strategy: Build a culture of philanthropy on campus FY Years Build a culture of faculty and staff giving; encourage these partners to share the Mines experience Build upon substantive relationships across campus Expand upon liaison model to strengthen relationships with deans, department heads and program heads; as a Investigate telemarketing program for faculty and staff; develop as appropriate result, develop new prospects Increase outreach to retired faculty and Promote a grassroots effort that is peer-to-peer with top staff leadership sharing their monetary contributions with the campaign With successful implementation of college advisory boards, expand engagement with Pilot college advisory boards departments, centers and other advisory boards Overall Strategy: Be donor-centric and university-centric in all decisions, actions, and operating processes and procedures FY Years Create and enhance unique programs and engagements for priority constituencies Evaluate, revise and develop unique programs and engagements for all Promote a staff culture that considers donors and the constituencies university first and foremost Promote a staff culture that considers Strengthen partnerships between CSMF, CSMAA and university partners donors and the university first and foremost Build on meaningful stewardship programs that engage and recognize donors at all levels Build on strong partnerships between CSMF, CSMAA and university partners Ensure collaborative partnership with university on procedures and guidelines 16 Strategic Goal 2 Goal 2: Manage, invest and utilize donor-provided and institutional funds with integrity, transparency and prudence Overall Strategy: Develop sustainable financial model for foundation to be a strong partner with Mines Overall Strategy: Maintain fiduciary due diligence and best practices Overall Strategy: Develop and implement efficient and effective systems, processes, policies and procedures 17 Strategy Specifics Under Goal 2 Overall Strategy: Develop sustainable financial model for foundation to be a strong partner with Mines FY Years Increase Mines endowment value by raising endowed contributions Build Mines endowment to $350M Ensure investment return objective is met over the long-term Ensure investment return objective is met over Ensure endowment fee percentage is appropriate to meet the long-term university and foundation operational needs Continue to build the foundation s unrestricted Institute a development agreement between Mines and CSMF reserve fund recognizing the value and additional resources the foundation provides to the campus and constituents (CSMAA) Assess and adjust resource levels as needed to ensure foundation s ability to accomplish stated Ensure budgetary resources and staffing levels align with foundation s ability to accomplish stated mission mission Overall Strategy: Maintain fiduciary due diligence and best practices FY 2015 Update operating agreement between CSMF and Mines Ensure efficient and clean financial audits Uphold due diligence within 501(c)3 regulations and general accepted accounting guidelines (GAAP) in managing and reporting foundation assets Uphold fiduciary duties in investment and administration of life income assets charitable trusts and gift annuities Develop a streamlined procedure for investing excess cash from contributions in the long-term investment pool Diversify CSMF Board of Governors 2-5 Years Develop short-term investment pool strategy for reserve funds and operating budget Take efforts needed to ensure efficient and clean financial audits Uphold due diligence within 501(c)3 regulations and general accepted accounting guidelines (GAAP) in managing and reporting foundation assets Uphold fiduciary duties in investment and administration of life income assets charitable trusts and gift annuities Continue to diversify CSMF Board of Governors 18 Strategy Specifics Under Goal 2 Overall Strategy: Develop and implement efficient and effective systems, processes, policies and procedures FY Years Institute new financial software and systems Conduct an overall organizational risk Optimize efficiencies and information in databases and assessment other systems Implement a paperless office Develop more self-sufficiency with those using systems Design more collaborative processes between business units and between foundation and university 19 Strategic Goal 3 Goal 3: Strive to be a high performing organization that is mission-driven, values-based and metrics-measured Overall Strategy: Embrace values of service, respect, integrity and mutual support Overall Strategy: Invest in human resources recruit, hire and retain high-performing people Overall Strategy: Create employer of choice culture 20 Challenges and Opportunities Based on the needs of the campus and a growing constituency: Crowdfunding Social marketing Reports Database and systems management Events End of campaign, quiet phase of a new one Develop fundraising capacity (engagement, prospecting/research, qualified staff) For Endowment Investment and Spending: Achieving the right balance of providing a steady stream of funding for Mines while maintaining real (inflation-adjusted) purchasing power (real value) over time, in addition to providing a revenue source to operate the foundation. 21
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