Nationwide, state funding has decreased on average by 28% or $2,353 per student as of 2013 (Oliff, Palacios, Johnson, & Leachman, 2013). Meanwhile, the rising cost of tuition has far outpaced the rise of inflation. The average student from the class of 2016 owes $37,172 in student loans and our nation's 44 million student loan borrowers have accumulated $1.3 trillion dollars in debt.
Higher education institutions have been under scrutiny in the public eye and are challenged to find and operationalize efficient business practices. According to Cathy Sandeen of the University of Wisconsin Colleges and Extension, this means helping staff and faculty focus on high-value tasks to make a difference for students, creating cost savings, create financial sustainability, expand enrollment and enhance capital and fundraising campaigns.
Goldstrike Data provides small to medium sized universities data driven insights to enhance their fundraising campaigns to yield higher levels of financial contributions. By creating financial sustainability, these universities are able to invest capital into further research and development, help students progress towards their degrees, and expand enrollment which in turn increases revenue.
Many smaller universities have a high proportion of Pell Grant recipients in their student body. These Pell Grant graduates, were found to be more likely to borrow student loans with 88% of them averaging $31,200 in debt upon graduation. In order to develop enrollment growth and continued student success, these universities are depending on the success of fundraising campaigns.
Goldstrike Data leverages the data already available at your institution to provide data driven support to answer the following questions during your fundraising campaign:
- Which potential donors should we be targeting during this fundraising round?
- What tactics or marketing schemes increase the probability of them to give?
- What is the most cost effective way to target these high propensity donors?
- How and when should we move smaller donors into a major gift area?
- What is the statistically likely size of their donation?
- How much overall funding can we expect in a given round campaigning?
By providing statistical solutions to these questions, we minimize the risk in decision making by selectively targeting high propensity donors and providing a range of possible outcomes for more effective decisions. By automating our processes, customized to you, we optimize operational efficiency through time and cost savings so that the institutions advancement and development directors may focus on their donor relationships.