Building sustainable funds for schools

Explore how school leaders can best enhance their financial resources through fundraising strategies, at the same time as strengthening connections within their community

CREDIT: This is an edited version of an article that originally appeared on FundEd

In an era of challenging financial landscapes, school business leaders are faced with the task of securing funds to support their educational institutions effectively. One compelling strategy is setting up regular giving funds, a process that entails the incremental growth of a community of committed donors over time. We explore some key steps for school business leaders to consider in this vital endeavour.

Be realistic and incremental

Financial resources aren’t always readily available, especially for schools. To address this, adopting a gradual, incremental approach can be incredibly effective. The Independent Development Practitioners in Education (IDPE) benchmarking report highlights that fundraising efforts tend to yield a higher return on investment as they mature over time.

It’s essential to set achievable targets and recognise that building a supportive community of donors takes time. This measured approach is often the most practical and sustainable way to raise funds for your school.

Ask for support

One fundamental rule in fundraising is that if you don’t ask for support, you’re unlikely to receive it. While not everyone in your school community will be in a position to donate, it’s crucial to initiate the conversation. Approach this with a level of sensitivity to the diverse financial circumstances within your school.

Consider acknowledging and appreciating the varying levels of contributions from different donors. For example, you can express gratitude for every donation, regardless of the amount, emphasising that each contribution has a direct and positive impact on students’ educational experiences.

Engage your school community

Before unveiling your case for support to your wider school community, it’s wise to test your message and strategy with constituents who are already warm to your school. These individuals can provide invaluable feedback that ensures your messaging resonates effectively.

At Pate’s Grammar School, for instance, the school’s case for support was initially tested with the PTA, and after refining it based on their feedback, it was then shared with the entire parent body. Involving your community in this process can make your message more powerful and compelling.

Gratitude and building relationships

Raising funds isn’t just about transactions; it’s about nurturing relationships. Every donation, regardless of its value, merits a genuine thank-you. This acknowledgement sets the foundation for long-term engagement and fosters a sense of connection and partnership.

A heartfelt letter of thanks from the school’s head and bursar is a meaningful way to express appreciation. For more substantial donations, consider a personal phone call. Donors should also receive regular updates on the impact of their contributions, highlighting how their gifts are making a tangible difference.

Success stories: Pate’s Grammar School and Dr Challoner’s Grammar School

Two schools, Pate’s Grammar School and Dr Challoner’s Grammar School, offer insights into successful fundraising efforts.

Pate’s Grammar School responded to government funding cuts by launching the “Making £nds Meet Appeal” in 2015. This initiative aimed to raise additional income to support various provisions, including extra-curricular activities. The appeal’s focus is on parents supporting the school’s commitment to providing the best education possible, rather than specific projects. There’s no fixed donation amount; parents contribute what they can afford, whether as one-off donations or regular gifts. The initiative aims to make the donation process as convenient as possible for parents. To date, the “Making £nds Meet Appeal” has raised over £1.2 million.

Dr Challoner’s Grammar School established the “Astra Fund” in 2008 to support every student in reaching their full potential. This fund, which raises between £160,000 and £200,000 annually, has historically been used to enhance teaching, learning, and extra-curricular activities. However, in response to the cost of living crisis, the school decided to adapt its approach. They used the annual fund to address the financial deficit resulting from the crisis. For instance, the donations were used to upgrade the school’s lighting system, leading to energy savings and more resources for students. The response has been positive, with around 65% of the school community participating and more than 10% increasing their contributions.

As school business leaders navigate the challenges of financing their institutions, these strategies can help establish a steady stream of support. Incremental growth, open conversations, community engagement, and gratitude are essential components of sustainable fundraising for schools.