Goal #3: Financial Sustainability
MSM will expand its traditional revenue streams and engagement with its alumnae network, and develop new, sustainable sources of funding.
We will do this by strengthening the culture of giving among the alumnae base, determining, and pursuing admissions goals, enhancing our narrative and marketing reach, and exploring a Centennial Capital Campaign.
Primary Drivers: Board of Trustees, Leadership Team, Alumnae
Objectives:
- Outline and implement a clear plan to reinvigorate relationships with alumnae and better bring them into the fold as stakeholders, with the goal of encouraging philanthropic giving. Improve communication and establish more regular broad outreach and engagement opportunities, while providing greater transparency with alumnae on financial and other needs of the school.
- Create new, sustainable revenue streams. Partner with the Development Office to diversify fundraising activities beyond the historic and traditional MSM donor base. Implement new measures each academic year to maintain financial balance.
- Develop annual strategic recruitment and enrollment goals that establish aspirational enrollment targets. Share these goals prior to the beginning of each school year broadly between leadership, staff and trustees for documentation and progress tracking.
- Expand outreach into non-traditional recruitment pathways, including through more directly working to attract students from public schools, that will focus on and lead to a more diverse and culturally rich student body.
- Align recruitment and financial assistance objectives to reserve funding for flexible operational needs.
- Improve strategies for identifying and cultivating donors, with appropriate and substantive engagement, donor recognition and follow-up/ongoing interactions.