Cultural Connections October 2015 Program - Financial Stability
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Museums and other cultural organizations are evolving how they define and plan for a sustainable future. They are looking for new ways to fundraise and remain relevant to the audiences they serve. How do museums plan for a sustainable future in terms of financial stability? Join us for a look at emerging trends in fundraising and development. Our panel of professionals includes Jay Auslander, Director of Gift Planning at the California Academy of Sciences; Jeri Boomgaarden, Director of Donor Servicing and Administrative Support at the East Bay Community Foundation; Elizabeth Minor PhD, Development Associate at the Hearst Museum of Anthropology; and Rebecca Ratzkin, Senior Consultant at WolfBrown. Panelists will discuss successes and challenges in implementing new fundraising trends including crowdfunding and day-of-giving campaigns. Also, we will learn about millennial donor trends, gift acceptance policies, and donor responses to divestitures from fossil fuels.
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Cultural Connections October 2015 Program - Financial Stability
- 1. Planning for Financial Sustainability October 14, 2015
- 2. Todayâs Speakers Rebecca Ratzkin WolfBrown Jay Auslander California Academy of Science Jeri Boomgaarden East Bay Community Foundation Elizabeth Minor Hearst Museum
- 3. 3©WolfBrown 2015 How are Millenials Different in Their Motivations for Giving? Based on 2009 study of donors in Bay Area October 14, 2015 Rebecca Ratzkin, Senior Consultant
- 4. 4©WolfBrown 2015 WolfBrown ⹠General population studies of arts participation ⹠Impact assessment ⹠Engagement research ⹠Grant program evaluations ⹠Misc. audience studies ⹠Capacity building in research
- 5. 5©WolfBrown 2015 First, a little context
- 6. 6©WolfBrown 2015 Millenials are the largest living population
- 7. 7©WolfBrown 2015 Millenials are more diverse
- 8. 8©WolfBrown 2015 Millenials lead workforce numbers
- 9. 9©WolfBrown 2015 Resource: Pew Research Center ⹠http://www.pewresearch.org/fact- tank/2015/03/19/how-millennials-compare- with-their-grandparents/
- 10. 10©WolfBrown 2015 Demographic Profile of Five County Bay Area (2012 American Community Survey)
- 11. 11©WolfBrown 2015 Now, onto the researchâŠ
- 12. 12©WolfBrown 2015 Itâs Not About You⊠Itâs About Them: A Research Report on What Motivates Bay Area Donors to Give to the Arts and Artists www.wolfbrown.com/donor
- 13. 13©WolfBrown 2015 Study Goals ⹠To understand the underlying motivations of the FFA donors ⹠To see if FFA donors are different than donors to other Bay Area arts institutions ⹠To identify typologies of donors based on their giving behaviors and attitudes about giving ⹠To develop tools that can help small groups and individual artists with fundraising
- 14. 14©WolfBrown 2015 Methodology ⹠Random sample of 500 donors from 17 Bay Area arts organizations, and 1,900 donors to the Fund For Artists program ⹠Two data collection efforts - Online survey: 17% response rate - Postal survey: 21% response rate ⹠Three analysis groups - FFA Donors (n=349) - Donors to Mid-Sized/Diverse/Contemporary Arts Groups (n=485) - Donors to Large-Budget Arts Groups (n=2,200)
- 15. 15©WolfBrown 2015 Limitations of the data ⹠Results represent a good representation of a cross-section of Bay Area donors, but cannot be used to generalize about all donors in the Bay Area, or in other communities. ⹠As with any random sample, results are subject to margins of sampling error - For the random sample, error margins are +/- 3%. ⹠Millenials relatively unstable sample: n=135 - Error margins are approximately +/-6% to 8.4%
- 16. 16©WolfBrown 2015 Young donors are likely to support the arts and social justice "What causes do you support?" 18 to 34 35 to 44 45 to 54 55 to 64 65+ Performing arts organizations 78% 80% 85% 88% 89% Museums and fine arts groups 56% 62% 65% 75% 83% Social justice or equality causes 55% 55% 53% 54% 52% Environmental or conservation causes 40% 52% 58% 61% 65% Education 40% 48% 53% 57% 62% Political campaigns 38% 40% 48% 50% 54% Women's causes 36% 33% 37% 42% 37% Human services (youth programs) 29% 37% 43% 44% 40% Health causes or medical research 27% 37% 45% 49% 53% International aid or disaster relief 27% 32% 34% 43% 47% Religious causes or faith-based institutions 14% 15% 25% 28% 34%
- 17. 17©WolfBrown 2015 Young donors want to make a difference supporting new works 3.5 3.75 4 4.25 4.5 4.75 5 5.25 5.5 5.75 6 6.25 6.5 Smaller arts programs where gift can make a bigger difference New work by living artists, composers, choreographers, writers Arts programs or projects that aren't supported by mainstream Individual artists or performers who live in your community Ensuring broad access to cultural experiences Ensuring long-term sustainability of specific arts groups AverageRating(1=Unlikely,7=Likely) TOP SIX CORE INTERESTS, BY AGE 18 to 34 35 to 44 45 to 54 55 to 64 65+
- 18. 18©WolfBrown 2015 Less interest in great works by nationally- renowned artists 3.5 3.75 4 4.25 4.5 4.75 5 5.25 5.5 5.75 6 6.25 6.5 Arts programs and projects that foster appreciation for diverse cultures Programs that awaken the creative voices of children World class artistic programming (bringing the worldâs best art to the Bay Area) Artists or programs that reflect and sustain your own heritage Great works of art that have stood the test of time Nationally or internationally renowned artists or performers who visit the Bay Area AverageRating(1=Unlikely,7=Likely) LOWER SIX INTERESTS, BY AGE 18 to 34 35 to 44 45 to 54 55 to 64 65+
- 19. 19©WolfBrown 2015 Five Value and Interest Factors HUMANISM (82%) LOCALISM (59%) DISTINCTION (61%) BONDING (50%) PROGRESSIVISM (29%) Support Individual Artists Community-based Projects Education Small Group or Project Significant local impact Increase Accessibility Anti-Establishment Cutting Edge Art Social Justice Diversity World-Renowned Artists Greatest Works of All Time Organizational Sustainability Alleviate Suffering Repay Society Cultural Heritage Strengthen Family Relationships Social Networking Spirituality Civic Duty Individualism Support New Work
- 20. 20©WolfBrown 2015 Young adults connect to local, personal and progressive values 62% 51% 43% 34% 21% 29% 32% 30% 35% 34% 22% 24% 27% 30% 42% 43% 33% 34% 32% 33% 50% 45% 42% 35% 23% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 55% 60% 65% 18 to 34 35 to 44 45 to 54 55 to 64 65+ %ofRespondentswithHighPropensity PERCENT HIGH PROPENSITY FOR VALUE FACTORS, BY AGE Localism Humanism Distinction Bonding Progressivism
- 21. 21©WolfBrown 2015 Personal connection is key 78% 78% 63% 25% 24% 16% 14% 80% 73% 51% 9% 18% 14% 8% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% I need to know how my gift will make an impact I need to have attended their programs I need to have a personal connection to the art form I need to have a personal connection with one or more of the artists or performers I need to know someone else who supports the program I need to speak with someone from the organization I need to know a board member or staff person Necessary conditions for giving, BY AGE Under 35 35+
- 22. 22©WolfBrown 2015 Values-Driven Intrinsics 25% Community Altruists 22% Progressive Artist Champions 19% High-Touch Social Givers 17% Supportive Audiences 17% BAY AREA DONOR SEGMENTATION MODEL
- 23. 23©WolfBrown 2015 Younger donors are driven by personal values 38% 35% 25% 25% 20% 5% 13% 21% 24% 26% 37% 37% 27% 19% 10% 11% 9% 16% 16% 20% 8% 6% 11% 16% 24% 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 18 to 34 35 to 44 45 to 54 55 to 64 65+ AGE, BY SEGMENT Supportive Audiences High-Touch Social Givers Progressive Artist Champions Community Altruists Values-Driven Intrinsics
- 25. 25©WolfBrown 2015 Get to know your donors âą Develop more effective and fulfilling relationships where âmaking the askâ becomes part of a larger conversation âą No need for expensive research âą Set aside time to sit down for a structured conversation - Ask about interests, passions, and connection to the art - How much do they want to be involved? - What kind of impact do they want to make? - What kind of connection and/or evidence do they need to feel fulfilled?
- 26. 26©WolfBrown 2015 Diagnose your programming âą Look at the values that might connect to target segments âą For example: You are creating a project about an immigrantâs experience in her adopted country - What are the value systems around womenâs and immigration issues? - How would this speak to your target donors focusing on these values?
- 27. 27©WolfBrown 2015 Learn to Tailor Development Approaches âą Use differentiation of values to help create unique development strategies that connect values to events, content and giving âą For example: Raising funds for a new commission by a local artist who is nationally renowned in his field - One strategy is to focus on the projectâs new and contemporary attributes⊠- âŠor to highlight support for a local artist - âŠor emphasize artistâs national reputation if donors more interested in bringing well-known artists to local community
- 28. 28©WolfBrown 2015 Understand Desired Level of Involvement âą Develop targeted communications strategies based on desired levels of communication and involvement - Use first transaction as opportunity to gather informatio (e.g., âCheck here if youâd like to be kept apprised of how your gift is being used.â)
- 29. 29©WolfBrown 2015 In summary⊠⹠Message about values, and less about the specific details of the project ⹠Make connections to value systems outside of the arts, when appropriate ⹠Prioritize personal connections and how you can improve them ⹠Follow-through on involvement opportunities and accountability
- 31. 31©WolfBrown 2015 Four Connection Points (based on in-depth interviews) Personal Relationshi p to Artist, Staff or Board
- 32. Jay Auslander, JD Director of Gift Planning California Academy of Sciences
- 35. Gift Acceptance to Divestment⊠- The Policy creates the Gift Acceptance Committee. - Because acceptance involves a legal obligation to use for the specified purposes, authority is delegated to the E.D., C.D.O., Chairperson of the Board, and senior members of the Academyâs management team - Might still require submission to the board. - Our Gift Acceptance policy is an effort to define the breadth of gift types we can accept. - pledges in writing and fulfilled within 5 years - tangible personal property is subject to Collections Management Policy (as well as issues around whether it can be used in pursuit of the Academyâs exempt function) - closely held securities and when these are ok - policies and procedures around gifts of real estate, bargain sales, remainder interests, life insurance, etc. - Life income gift considerations - Named and endowed fund guidelines - And Gifts of Oil, Gas and Mineral interests.
- 38. Thank you. Jay Auslander, JD Director of Gift Planning California Academy of Sciences jauslander@calacademy.org
- 39. Giving Days Jeri Boomgaarden October 14, 2015
- 40. Success Factors âą Establish goals and objectives âą Leadership buy-in âą In person nonprofit outreach âą Intention and expectation of fun and success 40
- 41. Results 41 2014 2015 Total Donations $200,669.00 $649,000.00 Total Nonprofits 138 360 Total Donations 864 4,019 Prize Pool $13,000 $100,000
- 42. Challenges âą Organizational engagement âą Prize Sponsorships âą Comprehension of event by nonprofits 42
- 43. Lessons Learned âą Establish Goals and a Project Plan âą Engage with nonprofits early and often âą Ask your community to spread the word including media, businesses, political offices 43
- 44. The Doctor Will See You Now: Crowdfunding at the Hearst Museum of Anthropology Elizabeth Minor Development Associate Cultural Connections - October 14th, 2015
- 49. Email Marketing Social Media Marketing
- 51. Events and Content Updates
- 52. Perks
- 53. Multiplier Effect and New/Unique Donors
- 55. Many thanks to our presenters and Childrenâs Creativity Museum for making this program a success!
- 56. Please complete the Program Evaluation before you leave. Drop them in the box near the refreshments. We look forward to your feedback!
- 58. B Restaurant and Bar â 720 Howard St.