March 5, 2002

GW’s Chief Fundraiser: Beverly Bond

ByGeorge!: Universities are complex institutions, needing to meet academic, residential, infrastructure, research, and other critical needs. How do university development offices work to balance those needs?

Beverly Bond: We can never meet all of the needs of a university, as you know. What we try to do is meet the needs that are both the highest priority as determined by the academic leadership and at the same time, are the ones of greatest appeal to those that can make contributions.

ByG!: For example?

BB: Fellowships are a high priority and one I think that has donor appeal. I think a lot of people, myself included, would find it very gratifying to endow a fund which permanently provides support for countless students doing important work.

ByG!: You’re relatively new to the University, having started in January. Do you have a general sense of what the priorities are?

BB: I think so. Part of the Centuries Campaign process included identifying and articulating our priorities. Of course, some things change, but there’s always a great need for professorships, scholarships, fellowships, and research funds. The needs for facilities come and go. Of course, right now there are several important facilities for which we are raising money.

ByG!: Is it fair to say a residence hall is not what a contributor looks at?

BB: I think you’re right. When it comes to facilities, contributors more often give to buildings for teaching or research or even student life. But philanthropy for a residence hall in and of itself is not typical.

ByG!: Can you talk about the shifting face of development and how it has changed in your 25 years of experience, particularly technology and how that has impacted going out and raising money?

BB: Overall, I’m observing a change from fund “raising” — as sort of “begging” — to a profession that fosters partnerships between the institution and those who care about it and are able to invest in its future. The profession has become more involved in the strategic planning process at a lot of institutions in order that we in development are able to understand exactly how and why a donor’s support can make a specific, favorable difference. These days, there is also much greater emphasis on donor stewardship, meaning that the development office is committed to providing regular, systematic reporting to the donor after the gift is made. It is critically important to show the ongoing good things that result from a gift. It’s the donor’s “return on his or her investment,” so to speak.
You asked if the Internet is changing the face of development. I’d say yes and no. The Internet is an important tool to offer us more opportunity to foster relationships. For example, we could create a chat room for alumni who had similar interests. We could feature faculty lectures or special topics. We can promote all manner of things on the Web. And of course, we can solicit and receive gifts over the Internet. In all, it eliminates a lot of geographic limitations. But, I don’t think of it as some new “technique” for raising money. The basic elements of development remain; the Internet does give us more flexibility, though.

ByG!: What is development’s role in regard to University endowment?

BB: Our role is to acquire increasing amounts of contributions to it. Because only the earnings from the endowment and not the principal are spent, we are generally seeking large gifts — larger than what one would contribute to say the annual fund. For an endowed faculty chair, we are seeking a minimum of $2 million. Our deferred giving effort is also important to the endowment. Often people can make much larger contributions through trusts and bequests.

ByG!: People choose career paths for different reasons. You’ve been in the non-profit field for 25 years. Can you talk about your attraction to the field and why you’ve chosen this route?

BB: Most people who have been doing this as long as I have got into it by accident, and I am no exception. Once I started, I found the work varied, interesting, exciting, fast-paced. It’s a process in which, at least sometimes, you can see your progress, and I find that very motivating and gratifying. And, I think what we’re doing is important. A college education or the findings of a research project can literally change lives. Then there’s the emotional side. I have had the privilege of playing a part in life-changing experiences for both donors and recipients. I remember a man who made a gift of four endowed scholarships which he named for a professor who had helped him through school during the Depression. It gave this donor, as well as the professor, so much satisfaction to see student after student benefit from these scholarships.

ByG!: Why did you choose GW?

BB: It seems to me to be a university with really distinctive qualities. There are important areas of strength — international matters, technology, transportation, intellectual property, health, just to name a few. Also, this is a “hot and on-the-move” school and I had already known that from friends of mine in the college counseling profession. It’s exciting to be at a place that is “on a roll.” There is a lot of opportunity just waiting to bloom. I liked the people I met here, starting with President Trachtenberg. I feel that the people are unusually collegial.

ByG!: You played a key role in Vanderbilt University’s six-year capital campaign, helping to raise $560 million. GW is nearing the end of the Centuries Campaign, with 85 percent of the $500 million goal pledged. What are the goals of the development team to reach that final 15 percent?

BB: We’re working with a number of prospective donors who are excited about what’s happening at GW. It’s just a matter of continuing that process. There’s already a good deal of momentum, so we won’t let up our effort.

ByG!: What lies beyond the Centuries Campaign?

BB: The end of the Centuries Campaign will be the beginning of even more exciting and significant investments on the part of those who care about what we’re doing. When you’re in a campaign, you learn a lot. This campaign has taught us a great deal about the University and individuals and other entities that can participate in our progress. We should capitalize on that. A campaign is not about an ending; it’s about reaching a whole new level, and raising our sights and ambitions for the future. When the campaign at Vanderbilt ended, I felt more energized because so many more people were involved in a more meaningful way. It was almost as if the end of the campaign was a launching pad.

ByG!: What new ideas will you bring to GW?

BB: I doubt that I have any original ideas. Instead, I want to draw out the best ideas of all those who are stakeholders in GW. All of the alumni I’ve met thus far have had wonderful stories about why they value GW. I’m sure students and parents do, too. The faculty and deans I have met have compelling stories about significant strides we can make. I will continually try to draw out the array of meaningful ideas that comprise the GW community.

 

Send feedback to: bygeorge@gwu.edu