Understand the college’s revenue streams
and the parameters of how funds can be
used within state regulations. Being entrepreneurial is essential today, however, the
president must be sure the initiatives and
projects launched are in compliance with
audit regulations and fund restrictions. If
a new president is blessed with a seasoned
chief financial officer, then avoiding pitfalls will be easier. If this is not the case,
seek out other respected presidents or
CFOs to provide guidance and coaching.
It is critical to plan to raise revenues the
“right way” to protect both the college’s
and the president’s reputations.
Strategically apply financial resources to
college needs and goals. When aligning the
foundation with college needs, have a clear
and constant vision of why funds are being
raised and how the funds will be managed.
If not already formed, assemble a foundation financial committee to oversee the
management and investment of funds
raised. Committee members should be
respected and experienced business
persons in the community. The foundation’s
confidence that funds are secure and well
managed is critical to its fundraising efforts.
Plan for future programs, initiatives
and facilities. A critical component in
securing public construction referen-
dums is an in-depth facilities master
plan with an analysis of the college’s
existing facilities and future needs.
Understanding the importance of
being a good steward of facilities is
essential to raising repair and ren-
ovation funds. Understanding the
college space shortages and knowing
what type of buildings and laborato-
ries are needed to prepare students
for high-demand jobs are at the heart
of a successful building campaign.
Publicly share reliable information
that explains and supports the need
for facilities funding and community
support will follow.
Kathy Drumm and Tony Zeiss have formed The Zeiss Group
consulting business. Zeiss retired as president of Central
Piedmont Community College in North Carolina, and Drumm
retired as CPCC’s executive vice president.
“Anyone can learn to raise funds if the fear of rejection
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