Philanthropy a Priority for Education Sector
Thursday, 9th September 2010 at 12:19 pm
One in five education institutions hit the $1 million mark within 5 years of focusing on fundraising, a new Australian benchmarking study has found.
The third bi-annual benchmarking study of 250 educational advancement professionals found that successful fundraising by Australian schools and tertiary institutions is growing, and is best performed by older institutions.
The study, released at the Association of Development and Alumni Professionals in Education (ADAPE) International Conference in Adelaide, found that thirty-nine percent of respondents reported annual fundraising revenue in excess of $1 million, up from 23% in 2005.
Much older institutions had the most success, with half of all institutions established before 1905 raising more than $1 million per annum.
ADAPE Chief Executive Michele Dunn says fundraising has grown steadily across the sector since 2005, with a slant towards older institutions where programs are more mature and engagement with alumni well developed.
But Dunn says the signs are very encouraging for institutions that have recently focused on fundraising, with one in five organisations hitting the million dollar mark within five years.
More than half (59%) of respondents reported an overall increase in donor numbers over the past two years.
Michele Dunn says with a pending review of educational funding at both school and tertiary level, it is imperative that educational institutions develop or establish well resourced offices to concentrate on developing the relationships necessary for this kind of success.
The study also found that tertiary institutions are more likely than secondary institutions to use social media to assist with fundraising. 68% of tertiary institutions report using Facebook and 32% say they use Twitter, compared to secondary institutions where 48% report using Facebook and 8% use Twitter.