Part of the wider university’s “Making History” campaign, Elizabeth is leading an effort to raise $75 million for the business school by 2018. So far, she’s halfway there, while the university as a whole has already raised close to $850 million of its massive $1 billion target.
Elizabeth joined GWSB in 2011, and started raising funds for the campaign which was then publically launched in 2014. Now, under a new dean, she’s looking to accelerate GWSB’s development operations and make the most of a rich, global network of business school grads.
Her role at GWSB is the culmination of a twenty-five year career in university fundraising and development, working for a number of leading American institutions including the University of Maryland’s Robert H Smith School of Business, Wheaton College, John Hopkins University and Harvard University’s Law School. She’s a Harvard Divinity School alumna.
How did you get into a career working in fundraising and development?
When I was at Harvard, I self-designed my program in non-profit management, philanthropy and business ethics, and in my first year, I did a field placement in direct service.
I started discovering the importance of philanthropy as a driver for social impact. I really became intrigued by it and I took a job at Harvard Law School’s development office.
Raising money for a university is very rewarding and fulfilling work. I entered into this profession, and I’ve remained in it for the last 25 years.
What is the best thing about your role at GWSB?
I’m an institutional entrepreneur. Part of why I came here was because this was a great opportunity to help build a program. GW as a university is almost 200 years old, but unlike many US educational institutions the business school had not done traditional development fundraising until recently. In some respects, we’re creating our own entrepreneurial start-up.
The overall business school community – the students, the faculty, the alumni and our partners and corporate friends - is also a truly amazing network to be affiliated with. GWSB is a global business school and in my work I’m privileged to travel throughout the US but also to Turkey, to the Middle East, to Hong Kong and mainland China.
What challenges do you face?
It’s a cultural change for the school to focus on development. The faculty here are wonderful. But some of the things that we’re asking them to help us with, they’ve just never done before. Building an internal understanding of what we do and how we do it takes time.
Another challenge is that since I’ve been here, I’ve had more than one dean. Whenever you have leadership change in philanthropy, the most significant donors will want to meet that person and get to know them and their vision before they re-invest. That slows down the process.
Now, we have a great new dean. What was a challenge, is now shifting more into forward momentum.
What projects are you fundraising for this year?
As well as funding scholarships, we’re seeking to raise money to support the quality of our students’ experiences. That includes things like ongoing technology enhancements, entrepreneurship competitions and international business consulting experiences.
We’re also raising funds for endowed professorships, research and support for our PhD students. And we’re delighted to announce a seven-figure gift in support of our F. David Fowler career center made by our board chair.
How much do you raise for the business school on average per year, and what percentage from alumni?
In last four years we’ve averaged between 7.8 to 7.9 million each year, around 90% from our alumni.
That’s up from a total of $10 million we raised in the previous three years (2009-2011). Our goal is to get to a sustainable platform of $10 million per year.
What is the largest donation you’ve received during your time at GWSB?
$3.3 million for an endowed professorship in June 2012.
What methods do you use to solicit new donations?
At the heart of it is relationship building. The most important thing is to be authentic with your constituencies whoever they may be, to listen to people, to understand what they value and how to help build the right kind of strategic connection to the institution.
You have to make the ask, but you also have to know who should make the ask, at what time you should make the ask and under what circumstances.
What advice do you have for anyone starting a new development office in a school or college?
Treat it like a new business start-up, set very clear goals and know that you will not become Harvard or Oxford overnight.
You can’t make up for years of not doing this kind of outreach, but you can be work-smart and strategic and targeted about what you are seeking to achieve. Focus on the people who have the highest capacity to make the most significant gifts in the longer term, and build a strong volunteer corps to help you as ambassadors.
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