FAMU celebrates single-year fundraising record; eyes $100-million campaign
FAMU VP says annual giving needs to increase from all resources
Florida A&M University has raised a record $6.5 million in the last year, marking the "largest single-year fundraising total" in the school's history.
The announcement from President Elmira Mangum comes as FAMU begins planning for an ambitious $100 million capital campaign.
The amount exceeded the $5.8 million added to FAMU’s coffers in 2104-15, which was attributed to a new emphasis on fundraising under Mangum’s leadership.
Mangum said the record fundraising effort this year was the result of new interest from trustees, students, alumni, corporate donors and the team led by George Cotton, FAMU’s vice president for university advancement.
“The 2015-2016 numbers underscore the level of support we have been able to raise across our stakeholder base and externally,” Mangum said. “Our alumni, supporters, and corporate partners see our vision, and they believe it’s worth the investment. I am a believer that you plant your seeds in good ground, and I think that people are seeing that FAMU, and the direction we are taking, is indeed fertile ground.”
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Cotton said FAMU’s fundraising success is important at a time when many historically black colleges and universities are struggling to raise large sums of money.
And, he’s ready to see the momentum grow.
“Our next big push is to expand non-alumni and stakeholder giving by 50 percent, strengthen corporate and foundation giving by 100 percent, and increase alumni engagement by more than 35 percent,” Cotton said.
Mangum agreed.
“I am encouraged by the increase in the number of individual donors providing cash gifts of more than $100,000 in the last two years,” she said. “It is has been remarkable to have alumni answer the call for support and work to rebuild a culture of philanthropy here at FAMU.”
She said the difference is in having alumni like Brodes Hartley and Dorothy Terrell, who provide ongoing financial support.
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Another example is Kenya Sykes, a FAMU graduate and owner of K.M. Sykes, CPA P.C., of New York.
“FAMU gave me an opportunity by opening doors for me that have served me for 21 years,” said Sykes, encouraged by outreach from the FAMU National Alumni Association and the athletics department. “I have a solemn obligation to the current students to preserve, protect, and expand their opportunities.”
Cotton says trustees are key to attracting major donors.
He told trustees at last month's meeting that for the last decade, FAMU has only raised about $3 million a year.
"In order for us to get to those broader visions that people have been talking about, we've got to literally forget the $3 million a year concept," he said. "We've got to be moving ourselves to where a university of our size needs to be, which is the $15 (million) to $20 million a year piece.“
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While the amount raised represents a record, Cotton added at the meeting it doesn’t touch FAMU’s potential.
“I know that's nowhere close to where a university of this size needs to be,” he said. “And I don't say this to be derogatory, but it's almost embarrassing, to be frank with you. A university with this history, with this prestige and this capacity, should not be raising $6 million a year. “
He touched on FAMU’s plans to introduce a $100-million capital campaign titled “Tomorrow’s Promise” designed to meet the university’s needs in academic support, endowments, building repairs and athletics.
But that will mean developing a plan that focuses on selling the value of FAMU and its many attributes. It also means getting Mangum and trustees in front of major donors, who can be sold on investing in the university.
That means creating a vision for the campaign and getting buy-in from trustees, he said.
“The president is the chief fundraiser of this university,” he said. “People might like the fundraising guy, but they love to meet the president. So we've got to get the president and the board of trustees on planes with my team traveling all across this country."
Contact senior writer Byron Dobson at bdobson@tallahassee.com or on Twitter @byrondobson.