As September 1, or “D-Day” according to President Richard O’Hara, for the pre-phase of the Capital Campaign draws closer, the Board of Trustees has begun to address the future of fundraising to prepare for the execution of the Master Facilities Plan.
The pre-phase, or advanced gifts phase, allows for a “better handle on how much [money] is out there to be raised, how much do we believe we can get, [and] does that mean we can plan to go ahead with all of the original master plan,” said O’Hara.
This phase was utilized as a “creative solution” in response to the results of a study done by the Sheridan Group, a firm hired by the Board ten months ago that assists non-profits in fundraising campaigns.
O’Hara said about the phase, “[It was] a creative adjustment. It was also a result of where the economy is. We all know economy is terrible, [but] we were hoping it would show signs of recovery in a year. We want to be out there actively cultivating [donors].”
However, “No one has come forward and pledged a specific amount of money,” said O’Hara.
Before officially entering into a capital campaign, O’Hara cites the need to “reach out to constituents and ascertain interests.” In addition, Board members’ pledges to the campaign need to be made evident. Research must be done on financing and borrowing options, and firms are being considered by the finance packages they can offer. Finally, Archdiocesan specifications for capital campaigns must be observed and approved.
The next step is entering the “silent” or “leadership” phase, when members of the Board of Trustees will meet with individual donors and prospective donors.
According to O’Hara, after 75 to 80 percent of the funds needed are raised, the public phase will start to get the rest of the money.
Although raising an adequate amount of money is crucial, it is not the only obstacle to executing the master plan. “Even if we had all the money, we couldn’t do it in a quick amount of time because it’s so complex, unless we put all the students in trailers and had hard hats on all the time,” said O’Hara.
However, before going after donors, O’Hara recognizes the need for a schematic design to be created. “Part of the urgency is when we go out to ask folks for money, the more detail we have, the better. If they’re going to finance it, they want to think it’s going to succeed.”
After an architect is selected, he or she must meet with the faculty and staff to determine what they specifically hope to see in the plan before creating the schematic design.
An unknown amount of time later, design development begins, which is “more detailed,” said O’Hara, “[That gets into] where in the room the chairs will be.”
Kate Froehlich can be reached for comment at [email protected].