Critical Issues Track Sponsored by: Collaboration Among Major and Planned Giving Officers to Maximize Gifts

Collaboration Among Major and Planned Giving Officers to Maximize Gifts Keith W. Cook, J.D. Seton Hall Law School & Lauren Steinberg The Pennsylvania State University

Mission and Objectives (1) Why collaborate, why now; (2) Internal and external forms of collaboration; (3) Joint visits and planning; and (4) Having metrics that support the objective of collaboration.

Collaboration

Why collaborate Save costs by sharing infrastructure and administrative expenses Strengthen programs Expand the value proposition for both organizations Improve efficiency Tap complementary skills and abilities Increase leadership skills Networking and professional growth opportunities with colleagues Larger gifts Nonprofit Collaborations: Why Teaming Up Can Make Sense Geri Stengel April 2013

Benefits of collaboration between organizations Synergy. The sum of the whole is bigger than the sum of each part. Working together collaboratively can result in greater accomplishments as compared to each organization working on its own separately. Sharing resources. When collaborating with another company, there will always be things and resources that they can share. One company may be an expert in one field and can help the other company learn about it. Overcoming obstacles. When an organization encounters problems that hinder it from achieving its goals, the other organization may be able to help out. Besides, partnerships, coalitions and networks are more powerful than organizations that operate on their own. Increased community awareness. By getting involved and by being a part of bigger organizations and groups, your organization’s message is better relayed to the community. Access to constituents and funding. Partnering with other organizations can give you the benefit of more grant opportunities as well as make a bridge for more exposure. Sebastien Boyer, PSPO http://www.nutcache.com/blog/benefits-of-collaboration-between-organizations-and-teams/

Internal collaboration Forms Inter-department Non-development Alumni vs. Development Main campus?

Joint visits Benefits How to introduce the new person Access to additional institutional resources and resources Value of added expertise to the conversation Additional contact at the organization How to introduce the new person

Questions for Discussion with Your Donors What type of business entity do you have? (LLC, C-Corp, LP, S-Corp, etc.) What is the nature of this business/asset? How long have you owned the business? Are there other owners besides you (and your spouse)? What would you estimate to be your cost basis? What would you estimate to be the fair market value? What amount ($ or %) would you consider gifting? Is there any debt associated with the business? If so, how old? Have there been any discussions about selling the business? Is there a binding contract of sale on the business? Does the company have a buy-sell agreement? Are there restrictions on who can be an owner of the company? Are there restrictions on when, how and for how much an owner can sell his interest?

Metrics to Support Collaboration Recognize and celebrate collaborative gifts Gift credit Gift officers Units Organization

Contact Information Keith Cook Lauren Steinberg – Senior Director of Development, College of Agricultural Sciences, The Pennsylvania State University lxs229@psu.edu

Session evaluations will be emailed. Don’t forget to attend CASE After Hours this evening to further network with attendees.