Transitioning into a leadership role is a whirlwind of new responsibilities. It’s critical to establish a fundraising footprint early is vital for long-term success. This guide outlines eight essential strategies for new Heads of School to build credibility, master the school’s philanthropic landscape, and cultivate the high-level partnerships necessary to support institutional impact.

Becoming a new head of school is hard! You’re quickly expected to be an expert on everything: fundraising, finances, programs, impact and more. You’re drinking from a firehose and trying to make progress at the same time. 

It’s important to engage in fundraising right away. Here’s what you need to know:

1. Understand the lingo. It’s important to be familiar with key fundraising terms. Feeling comfortable with the language helps to build your confidence and credibility. In particular, terms like “donor retention”, “participation”, “annual fund”, and “endowment” are used often and can have nuanced definitions. Make sure you understand them and how they are used at your school. You can review other common fundraising terms here.

2. Master your story. You are the face of your school. People will want to know why you wanted to join your school. Make sure you are comfortable telling your own story. Be sure to include your first impressions, when you knew it would be the right place for you, and any memorable anecdotes from the interview process. Of course, you need to know the school’s story as well, but telling your personal story early on builds credibility and fosters connection.

3. Engage with your Board. Your Board should be your biggest champions and trusted partners.  Make it a point to hold a one on one meeting with each Board member as soon as possible. Then, begin a regular cadence of communication to share key information and stay in touch. Building relationships with Board members has several fundraising benefits. First, when it’s time to work with a Board member to secure their annual commitment, you already have a relationship in place. Second, Board members who feel engaged and connected are more likely to engage in fundraising activity – and they themselves are inspired to make their best gifts. Read more about Board engagement here.

4. Understand your school’s fundraising performance. You’ll want to know several data points at the outset:

• How much money does your school raise?
• What is the parent participation rate? 
• What is the donor retention rate from year to year?  
• How are philanthropic dollars used? Are they designated for certain purposes or are they unrestricted?
• Who contributes those funds – what’s the percentage of current parents, alumni parents, alumni, community partners etc. 
• Does your school have an endowment? How does it work? 
• What are the mechanics of how the school raises money? Does it rely on giving days, face to face solicitations etc. 
• How engaged is your Board in securing funds for the school?
  
  

5. Build your portfolio. Work with your Development staff and Board members to understand which donors are important for you to get to know first. Ask for their guidance on which donors expect to engage with the Head of School. Those conversations should inform your first donor meetings and those donors you’ll work with regularly. Create a “Top 20” list.

6. Fill your fundraising toolbox. Create a digital folder and build your fundraising toolbox. Fill it with stories you hear from parents and alumni about the impact the school has had on them. Draft notes for yourself when you see the impact of philanthropic giving at your school. Make sure you can communicate the value of philanthropy with specific examples. Sharing those stories at the beginning of your tenure demonstrates your understanding of the school and your commitment to fundraising. It will also increase your credibility.

7. Build a relationship with your Development staff. Create a strong partnership with your Development team. Ask your Development leader to share the biggest fundraising opportunities and challenges. Ensure you have a regular meeting with them and that you block dedicated time on your calendar for Development work. Ask the Development staff to create a dashboard for you that allows you to quickly see the most important fundraising information: total raised, participation rate, retention rate as well as who are the top donors currently being engaged. 

8. Get in the right headspace. If you are newer to fundraising or feel discomfort with it, focus on your mindset. Remember that you are not asking for yourself. Rather, you are inviting people to invest in a vision – your vision – that they already care about. Familiarize yourself with the impact that philanthropy has on your school. Learn the programs that are funded by philanthropy and what your school would look like if that philanthropy went away. Understanding the value of philanthropy can help you feel more comfortable with asking for support.  

Little Bean Group works with Heads of Schools around the country to help them strengthen their fundraising knowledge and skills. We also provide an array of services to support schools in their fundraising efforts. Contact us to learn more.

Frequently Asked Questions

Why is it important for Heads of School to immediately engage in fundraising?
Fundraising is a major part of a Head of School’s job and so it’s necessary to engage early on in a Head’s tenure, even though they are likely still learning and getting up to speed. Engaging early can help to increase a Head’s knowledge of fundraising and identify areas of opportunity and challenge.

What should a Head of School do first when it comes to fundraising?
Heads of School should first seek to understand their school’s fundraising landscape. They also need to immediately begin to build relationships with Board members and donors. The article above lays out 8 key ways new Heads of School need to engage in fundraising.

Who can help a new Head of School engage in fundraising?
A new Head of School has many allies when it comes to fundraising. Development staff are there to support and direct a Head of School’s engagement in fundraising. Board members are eager to see Heads succeed in fundraising. And donors want the Head to be successful as well.