003: Protecting your school’s fundraising income

How much might school fundraising income fall over the coming months and years? And what can private schools do to minimise this?These are two questions I’ve been asked frequently in recent months. In this episode I review philanthropic data from the US, UK and Australia for the 2008 recession and consider why falls in giving weren’t as significant as some predicted. The episode also explores two steps all schools should take to protect their future fundraising income, as well as three things to do if your staffing and resources allow. Episode highlightsHow philanthropic income responded to the 2008 global financial crisis (1:45)Why giving fell less than some predicted (4:20)How much giving may fall during the COVID-19 crisis (7:00)What this means for school fundraisers (7:55)Why building relationships with donors is still vital (9:30)Two steps all schools should take to protect their fundraising income (16:05)Step 1: Personal conversations with top prospects (16:45)Step 2: Thank all your regular donors (20:00)Three more steps to take if you have enough resources (21:25)Step 1: Look for giving signals (21:30)Step 2: Positive, two way social media communication (22:45)Step 3: Run virtual alumni events (24.40)Considering fundraising as an investment (25:55)References and resourcesSign up to Juliet’s newsletter at www.consultjuliet.co.uk/signupFind out more about Juliet Corbett’s work with independent schools and discover a host of free resources for schools at www.consultjuliet.co.ukGiving USA: annual reports on US philanthropic giving ‘The impact of the recession on charitable giving in the UK’, 2009, Charities Aid Foundation and the National Council for Voluntary Organisations ‘Philanthropy in a Recession: An analysis of UK media representations and implications for charitable giving’, 2009, Beth Breeze and Gareth G Morgan ‘Why Rich People Give’, 2004, Theresa Lloyd ‘Where to from here? The outlook for philanthropy during COVID-19’, April 2020, John McLeod, JBWere ‘Schools' Fundraising and Engagement Report 2018’, IDPE and Graham-Pelton Thank you so much for listening to The Independent School Podcast. I would be grateful if you could spare a couple of minutes to send me some feedback here. This helps me make the podcast as helpful as possible to listeners. Thank you!