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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
slide3
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
slide6
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
slide9
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
slide10
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
slide11
ASSESSMENT RESULTS

• Broad-Based Consensus/Ownership

• Blueprint for Launching Funding Model

• Confidence of Achieving Funding Goal

slide12
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?
slide13
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
slide14
WHO IS IN CHARGE OF SPENDING?

• Volunteer Board Leadership

• Campaign Leadership

• Professional Staff

slide15
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
slide16
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)
slide17
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
slide18
LEADERSHIP PHASE
  • Board of Directors
  • First-Tier Investors/Prospects
  • Community, State, and
  • National Foundations
  • Other trade groups
slide19
PUBLIC PHASE
  • Board of Directors
  • First-Tier Investors/Prospects
  • Community, State, and
  • National Foundations
  • Other trade groups
slide20
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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