THE POWER OF COMMUNITY PARTNERSHIPS IN FUNDING WORKFORCE

DEVELOPMENT INITIATIVES

Andy Coe, Principal

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TRENDS WE SEE

•  Most clients represent a public/private partnership •  Goal range is $1 million up to $15 million •  $2-5 million is the “sweet spot” •  Pledges typically cover a five-year period •  Private sector provides the majority of funding •  Campaigns last anywhere from 8 months to 1 year •  Financial support from banks & utility companies is down •  Healthcare/hospital funding support is up •  Nearly all of our ED campaigns include education partners

and require fundraising for workforce initiatives

6 REASONS TO FOCUS ON WORKFORCE INITIATIVES

1.  Hiring demand is increasing rapidly for “knowledge

technologists” – employees with a wide range of education, training, and skills.

2.  By 2018, about 70% of all jobs will require post high school education.

3.  Low-skilled job seekers are being turned away and increasingly becoming the long-term unemployed.

4.  The danger exists that Americans may not know enough about science, technology, or mathematics to contribute significantly to (or fully benefit from) the knowledge-based economy.

5.  Jobs that will dominate the U.S. economy require at least a high school education, and recently many jobs require some level of post-secondary education or specialized training/certification.

6.  The corporate community, in general, is concerned about the future availability of qualified workers. Areas of education and training include:

-  Soft skills -  Interpersonal communications (customer service) -  Work ethics -  Overall job readiness

EFFECTIVE WORKFORCE INITIATIVES REQUIRE FORMING PARTNERSHIPS

WHEN FORMING A PARTNERSHIP

• What can each potential partner bring to the table?

• Who might be willing to join your collaboration?

• Will the community support the partnership?

• Are partners willing to share resources & capacities?

• Do interests of partners fit broader collaboration?

• Should you form a loose or formal partnership?

• How inclusive (or exclusive) does it need to be?

1.  Ensure a broad-based, inclusive partnership

2.  Don’t wait for all partners to get on board prior to moving your plans forward

3.  Secure commitments from partners to collaborate – don’t leave it to chance (written & financial)

4.  Seek input to create a shared mission/vision

5.  Include partners in decision-making

6.  Use committees to focus on areas of specialty

7.  Develop shared/measurable goals and communicate progress regularly

8.  Listen and be responsive to all stakeholders

9.  Make yourself available to participate on partner committees and boards

10. Don’t hesitate to think big and make bold decisions in order to make progress

$6M PUBLIC/PRIVATE REGIONAL ED PARTNERSHIP INVESTORS INCLUDE: VIRGINIA TECH, RADFORD, HOLLINS UNIVERSITY AND VIRGINIA WESTERN COMMUNITY COLLEGE

MAXIMIZE PARTNERSHIP FUNDRAISING

A QUESTION YOU MUST ANSWER

“Why should I give your organization money?”

Imperative that your effort

does not look like . . .

WHY?!?

Donations

Gifts

Contributions

It’s all about

ROI & “What’s in it for Me?”

USE AN INNOVATIVE ROI APPROACH

Standard job creation impacts are not enough…

We produce an ROI analysis to showcase and and encompass intangible, valuable impacts:

ü  Value lost if actions are not taken ü  Strategic advantages achieved ü  Societal benefits enhanced & costs avoided ü  Positions project as a community/stakeholder asset ü  Quality of life impacts ü  Focus on Investable Outcomes

WHAT’S AN INVESTABLE OUTCOME?

An outcome that:

• Has a reasonable chance of succeeding

• Has an acceptable "return"

• Can be translated into a value

You will raise more money if results are expected and outcomes are defined

EACH INITIATIVE SHOULD INCLUDE

1.  Area of value

2.  Action steps

3.  Outcome delivered

4.  Reasonable benchmarks

Emotional Bottom Line

Outputs Outcomes

Warm/Fuzzy Appeals Only

Anecdotal Examples Descriptive

Statistics

Stakeholder Surveys

Organizational Impact

Economic Impact Specific

Customized ROI

OLD WAY

Apply for grant W/

outcomes determined

by application

Deliver the program

Operations produces required

report

Pray for funding to be

renewed

NEW PROCESS

Funder invests $$

in Outcome

Agency establishes program

Service Impact is measured

and marketed

Larger investment

is made

THE ROI DIFFERENCE

TAKEAWAYS 1.  Use collaborate partnerships to increase

your workforce funding 2.  Provide value to prospective investors 3.  Make the value easy to see 4.  Get investment from those that benefit 5.  Each investor has different motivation

Providing your stakeholders with investable outcomes = greater funding

“If your organization doesn’t demonstrate its value to potential funders, they’ll fund an organization that does.”

ANDY COE, PRINCIPAL ACOE@CONVERGENTNONPROFIT.COM

LINKEDIN: IN/ANDYMCOE TWITTER: @ANDYMCOE

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