FULLY FUNDED
Outrageously Successful Ways to Fund an Alumni Chapter
STACIE HYATT
© 2017 Stacie Hyatt
All rights reserved. No part of this book may be used or reproduced in any manner without written permission except in the case of brief quotations embodied in critical articles or reviews.
Fully Funded
Outrageously Successful Ways to Fund an Alumni Chapter
Brown Books Publishing Group
16250 Knoll Trail Drive, Suite 205
Dallas, Texas 75248
www.BrownBooks.com
(972) 381-0009
A New Era in Publishing®
ISBN 978-1-61254-962-0
LCCN 2017932167
Printed in the United States
10 9 8 7 6 5 4 3 2 1
For more information or to contact the author, please go to www.SACLeadership.com.
Contents
Acknowledgments xvii
Foreword xix
Preface xxiii
A Network of Acceptance, Mutual Respect, and Timeless Power xxiv
Local Chapters, the $17 Billion Prize xxv
The Primary Culprits to Chapter Success . . . Are Fixable xxviii
Introduction 1
Part I: The Basics
Things That Might Need Funding 9
The Bare Essentials 9
Website-Related Expenses 10
Stepping Up the Game 14
Behind-the-Scenes Enhancements 23
60-Second Takeaway 39
Make It Happen Checklist 40
Coveted Resources from the Central Alumni Association 43
The Chapter Liaison, Your Fairy Godparent 44
Glorious Insurance Coverage 45
The Foundational Website Platform 47
The Annual Stipend—Great Seed Money 50
Possible Project or Event Grants for Actual Cash Money 52
The Ever-Popular Collegiate Merchandise 53
A Real Gift—The Alumni Leaders Conference 55
Access to Prominent Guest Speakers 58
Other Opportunities to Benefit 60
Keep the Support Flowing 60
60-Second Takeaway 61
Make It Happen Checklist 62
PART II: The Broadest of Opportunities
Chapter Memberships—Great Foundational Income 65
Defining Alumni and the Alumni Community 67
Chapter-Specific Membership Benefits 70
Membership Types à la Carte 71
A Dartboard for Pricing Memberships 75
When Local Membership Dues Are Prohibited 79
60-Second Takeaway 79
Make It Happen Checklist 81
Sponsorships Loved Far and Wide 83
Cost-Relieving Gifts of Products, Services, or Venues 84
A Smorgasbord of Sponsorships 85
Sponsor Benefits and Packages 86
Danger Zones, Pitfalls, and What Not to Offer 88
Sourcing Sponsors 89
Weaving a Compelling Story 91
Keep Them Coming Back 95
60-Second Takeaway 96
Make It Happen Checklist 97
Traditional and Not-So-Traditional Fundraising 99
Cash Campaigns Plain and Simple 100
Merchandise Sale—Come and Get it! 103
Auctions Interwoven into Other Events or Solo 105
Crowdfunding Is a Crowd Pleaser 108
Raffles Can Be Fun but Iffy 111
Large-Scale Events: Large Work but Large Money 113
The Last Act 115
Don’t Bite Off More Than You Can Chew 116
60-Second Takeaway 116
Make It Happen Checklist 118
Mobile Giving Now for Everyone, Big and Very Small 119
The Modern Twist 120
How It Works 122
Cost Considerations 123
Tips for Success 126
60-Second Takeaway 128
Make It Happen Checklist 129
General Events Are Still the Workhorse 131
A Sexy Event Subject 133
A Convenient Date and Time 134
Determining Attendee Composition 136
A Venue That Is Right in Every Way 138
Winning Catering and Beverage Strategies 141
Enticing Ticketing 145
Other Elements Not to Overlook 148
60-Second Takeaway 149
Make It Happen Checklist 150
Photo Shoots for Today’s Digital World 151
Headshots—A Must-Have for a Digital Presence 151
Holiday and Other Themes Spice Up Marketing Efforts 153
Considerations for Success 154
Photo Shoot Pricing 155
Wrapping Up the Loose Ends 156
60-Second Takeaway 157
Make It Happen Checklist 159
PART III: New Horizons for 501(c)(3) Chapters
Giving Days Are Sweeping the Country 163
Advantages and Compounding Funds Up for Grabs 163
Important Guidelines for Chapter Leaders 166
Other Giving-Day Scenarios 167
Flawless Campaign Execution 168
60-Second Takeaway 170
Make It Happen Checklist 171
Matching Gifts—Big Money Left on the Table 173
Typical Exclusion Criteria 174
Executing a Campaign 176
60-Second Takeaway 177
Make It Happen Checklist 179
Volunteer Grants Are Easy Money for Chapter Leaders 181
Grant Allocation Methods 182
The Process and Typical Exclusions: Pay Close Attention 185
Landing the Grant 187
60-Second Takeaway 189
Make It Happen Checklist 190
PART IV: Operational Essentials
Promotion for Maximum Impact 195
Know Your Target Audience 196
Websites Remain the Anchor 201
Surprise! E-mail Is Still King 204
Social Media Is Not Optional 210
Text Messaging, Not Just Twitter 221
Don’t Ignore Print Media Just Yet 225
Phone Calls Still Have Their Place 230
Physical and Digital Third-Party Channels—Secret Weapons 231
Blogs, TV, Radio, and Other Alternatives 237
Best Strategies by Generation 238
Ensure They Show Up 242
Integrated Campaigns Are Most Effective 244
60-Second Takeaway 250
Make It Happen Checklist 251
Collecting and Handling the Money 253
A Checking Account—The Most Basic Requirement 256
Valid Business Documentation 258
Credit Card Payments 101 263
Payment-Processing Options 264
60-Second Takeaway 267
Make It Happen Checklist 268
State and Federal Tax Implications 269
501(c)(3) vs. 501(c)(7) and Tax Deductible Donations 271
When to Pay Income Tax 277
A Closer Look at Tax-Free Purchases 279
Total Annual Receipts and Income Thresholds 282
60-Second Takeaway 284
Make It Happen Checklist 286
Why It’s Worth Every Minute 289
About the Society for Alumni Club Leadership (SACL) 293
Appendix: Free SACL Tools and Resources Available to Readers 295
Notes 297
About the Author 329