A college president’s responsibilities are many: Balance the interests of multiple stakeholders. Be a visionary leader. Guide campuses through crisis and controversy.
But arguably the president’s most important duty is raising money. According to the 2017 American College President Study, nearly 60 percent of presidents said fund raising was one of the main things that occupied their time.
How critical is fund-raising prowess for a college’s leader? An analysis of more than 200 college-president job ads that ran in The Chronicle last year provides a glimpse. Nearly every institution, from community colleges to top research universities, made it clear that the title of president is synonymous with chief fund raiser. Among the skills they wanted to see in prospective presidents were “previous fund-raising success,” the ability to “cultivate donors,” and “compelling fund-raising abilities.”
Presidents, for their part, are keenly aware of the important role that fund-raising dollars play. The president study, conducted by the American Council on Education, revealed that 85 percent of college leaders believed that revenues from private donations, grants, and contracts would make up a larger proportion of their institution’s budget over the next five years. That coincides with declines in federal funding for research and modest increases in state funding for higher education, which sustained deep cuts during the recession.
So where should chief fund raisers focus their efforts? Data suggest alumni donations will remain a stable source of revenue, particularly from graduates in certain industries, and can help expand endowments.
