Many philanthropic healthcare foundations and their leaders face the challenge of transitioning from a traditional, and oftentimes ad-hoc, charity model to a system that facilitates long-term donor investment and greater and sustained levels of philanthropy. A long-range, relationship-driven approach is one that advancement and development professionals in higher education have always used to great advantage—it is in their DNA, it seems, and serves them well as education becomes more and more dependent upon private funding and endowments.
Fundraisers outside of academia are quick to point out that colleges and universities have alumni bases that are often enthusiastic and generous in their giving. True, but fundraisers in higher education have learned how to develop and harness donors’ passion into stable, long-term relationships that are mutually beneficial to both parties and are not dependent on, say, the success of the football team from year to year.
They also know that some of the most generous donors throughout the years are not necessarily those who, on the surface, are diehard school supporters but rather those who find some special connection to a given department, facility, or campus group.
When Investment Rhymes with Canada
Canada has a proud history of achievement in the areas of science and technology, and the field of biomanufacturing and life sciences is no exception.
What do advancement leaders in higher education know, innately, than many healthcare fundraisers may learn from? Below are a few fundamental guidelines of the higher ed philosophy of philanthropy. None of these ideas will be foreign to healthcare fundraisers, but collectively they present a sound, creative approach to fundraising success.
- Ideal donors are invested and in sync with the mission. Just as colleges have legions of passionate alums, healthcare philanthropists can begin to look at potential donors as passionate believers in the institution’s work—patients, families and others who have had meaningful, even emotional past connections with the hospital or healthcare organization and are – or can become – staunch believers in its causes.
- Invested donors expect more attention. Passionate donors are invested in the organization and mission and want a different level of relationship with leaders, physicians, and staff. Philanthropic healthcare foundation leaders need to embrace partnerships with donors and facilitate sustained communication and engagement regarding what’s happening at the facilities and within the organization in general.
- Long-term development is dependent upon programs and initiatives rather than buildings and infrastructure. Academic fundraisers prioritize ongoing campaigns to secure a steady flow of funds. Ad-hoc projects — for a new building wing, for example — are necessary but must be woven into long-range objectives so that donors don’t get a sense of completion and closure once a goal has been reached, diminishing their enthusiasm for future giving.
- Development officers serve a dual constituency. The best development executives are those who are enthusiastic advocates for donors as well as the institution itself. They serve two masters, so to speak, and embrace this aspect of their work.
- A transaction mentality must be avoided. Philanthropy leaders must maintain vigilance against donors’ desire for quid pro quo This can be done by doggedly messaging around the mission. With capital campaigns the focus should be less on “goals” and more on how gifts will be deployed and benefit the institution.
- Storytelling still works. The best development leaders know their organizations and the people there and can weave personal anecdotes and meaningful tales into their correspondence with potential donors. Again, donors want to feel a connection to names and faces.
- Stewardship is more critical than ever. Donors are extremely savvy and insistent that gifts are deployed as promised, and effectively and efficiently.
Recruiting Healthcare Philanthropy Leaders
As an executive search consultant, I would be remiss if I did not mention the importance of recruiting in establishing an organization that is good at fundraising. Creating an environment for fundraising success involves hiring progressive healthcare philanthropic leaders (perhaps those with past experience in higher education) as well as CEOs and other senior executives who appreciate and support the role that fundraising plays in the long-term success of the enterprise. As in education, healthcare philanthropy is getting more and more competitive and sophisticated. Great leaders can make all the difference.
