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June 14, 2006. AGENDA FOR THE DAY: FUND RAISING FOR ECONOMIC DEVELOPMENT. RDG background Process for generating funding Do’s and Don’t’s. WHO IS RESOURCE DEVELOPMENT GROUP, INC.?. HISTORY • Since 1990 Managed 100 Campaigns Raising over $500 million specifically for Economic Development

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Agenda for the day fund raising for economic development
AGENDA FOR THE DAY:FUND RAISING FOR ECONOMIC DEVELOPMENT

  • RDG background

  • Process for generating funding

  • Do’s and Don’t’s


WHO IS RESOURCE DEVELOPMENT GROUP, INC.?

  • HISTORY

  • • Since 1990 Managed 100 Campaigns Raising over $500 million specifically for Economic Development

  • SPECIALTY

  • • Delivering Customized Fundraising Solutions to Economic Development Organizations

  • CLIENTS

  • Regional EDC’s

  • • Large and Small, Urban and Rural EDC’s

  • • Chambers with Economic Development Programs

  • Statewide organizations




HOW DO WE RAISE MONEY?

  • • Targeted Program and Funding Assessments

  • • Organize, Manage and Execute Broad Based Campaigns

  • • Direct Solicitation Methodology

    • Volunteer Campaign management

    • Hybrids

  • • Team Approach

  • • Guaranteed Goals


Aggregate ed funding in selected ohio markets
AGGREGATE ED FUNDING IN SELECTED OHIO MARKETS

In Ohio Markets of population 100,000 and below:

  • Average ED funding = $265,000 per year

  • Per Capita ED funding $4.35

  • Revenue spit:

    • 50% private

    • 46% public

    • 4% fee generation



ASSESSMENT GOALS

  • Allows Organization to

  • Objectively Evaluate:

  • Its Image

  • Program support among key constituents

    • Business

    • Government

    • Foundations

  • Potential funding support

  • Best campaign structure

    • Leadership

    • Style and approach


ASSESSMENT PROCESS

  • • Leadership/Staff Planning Session

    • Identify interview targets

    • Develop pre-case

  • • Pre-Case Document

    • Proposed Programs/Projects

    • Benefits, Outcomes, Results

    • Target Budget

  • • 50 to 60 confidential interviews

  • 3 to 5 Focus Groups


ASSESSMENT RESULTS

• Broad-Based Consensus/Ownership

• Blueprint for Launching Funding Model

• Confidence of Achieving Funding Goal


WHEN SEEKING INVESTMENTS:

  • • What is the money for?

  • • Who is in charge of spending?

  • • What is everyone else giving?

  • What do you need from me?


WHAT IS THE MONEY FOR?

  • Case Statement must reflect:

    • Past Performance

    • Future Potential

    • Benefits, Results, Impact

  • Demonstration Packet

    • Mission

    • Action Plan

    • Goals & Objectives

    • Program/Project Budget

    • Investor Benefits/Relations


WHO IS IN CHARGE OF SPENDING?

• Volunteer Board Leadership

• Campaign Leadership

• Professional Staff


WHAT IS EVERYONE ELSE GIVING?

  • • Underwriting Opportunities

  • • Sector Analysis/Matrix

  • • Investment Levels

  • • Funding Example

    • $1,000,000 Goal

    • 1 @ $100,000 = $ 100,000

    • 2 @ $ 75,000 = $ 150,000

    • 6 @ $ 50,000 = $ 300,000

    • 8 @ $ 25,000 = $ 200,000

    • 10 @ $ 10,000 = $ 100,000

    • 30 @ $ 5,000 = $ 150,000

    • $1,000,000


SOLICITING INVESTMENTS

  • • Volunteer Board of Directors

  • • First-Tier Prospects (Top 10-15)

  • • Long-Range Prospects

    • Foundations

    • Trade Associations

  • • Second-Tier Prospects

  • • Third-Tier Prospects

  • • General Phase (if needed)


PREP PHASE

  • Finalize Case Statement

  • Finalize Campaign Theme

  • Recruit Campaign Leadership

  • Develop Correspondence and Demonstration Packet

  • Develop Master Prospect List

  • Complete Prospect Research

  • Implement Administrative Systems


LEADERSHIP PHASE

  • Board of Directors

  • First-Tier Investors/Prospects

  • Community, State, and

  • National Foundations

  • Other trade groups


PUBLIC PHASE

  • Board of Directors

  • First-Tier Investors/Prospects

  • Community, State, and

  • National Foundations

  • Other trade groups


  • CAMPAIGN WRAP-UP

  • Pledge redemption/Accounting System

  • Campaign Celebration Event

  • Investor Recognition/Relations


Do s and don t s
DO’S AND DON’T’S

DO:

  • Be personally engaged

  • Communicate with your stakeholders

  • Exercise leadership

  • Be open-minded and creative

  • Have a vision and implementation plan


Do s and don t s1
DO’S AND DON’T’S

DON’T:

  • Ready, shoot, aim

  • Take a back seat

  • Leave it to your board

  • Wait until the last minute

  • Artificially deflate (or inflate) expectations



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