An Engagement-Centered Approach to Corporate Relations
Corporations are giving less frequently and in smaller amounts, and in many cities the corporate landscape has changed dramatically during this recession due to mergers, consolidations, and bailouts. These conditions make it critical for corporate and foundation relations staff at institutions of higher education to rethink their opportunities for deepening and stewarding their relationships with corporate donors. Recently, we interviewed Chris Groff, executive director of corporate and foundation relations at Fairleigh Dickinson University, for tips on how CFR officials can take a more forward-thinking approach to cultivating and stewarding corporate donors. Groff draws attention to a recent white paper published by the Network of Academic Corporate Relations Officers (NACRO) entitled “Five Essential Elements of a Successful Twenty-First Century University Corporate Relations Program.” The white paper makes the critical point that “corporations no longer consider themselves ‘donors’ to academia; they consider themselves ‘investors,’” and that as corporations approach colleges and universities on an enterprise level rather than a philanthropic level, they are looking to institutions as partners in solving some of the needs of their organization. Groff adds, “Companies are now very accountable for the funding they give to philanthropic efforts; you really need a broad and deep relationship with the company. CFR needs to be […]