Museum of Bristol - Fundraising Strategy v.3

The Museum of Bristol Fundraising StrategyVersion 3

IntroductionThe Museum of Bristol Fundraising Strategy was first produced in March 2008. This version has been amended in key areas to reflect the current economic climate and further prospect research by the development team, which has informed our giving tables and approach. It continues to draw from Action Planning’s 2007 detailed feasibility study.

The revised goal of the strategy is to raise £2.5m in partnership funding. The thrust of the strategy remains, as before, to establish a Development Trust as a registered charity as a fundraising vehicle. Charitable status is required to apply for funds from the overwhelming majority of grant-making trusts and foundations, and this is where most funds will come from. Trusts and foundations provided 67% of Kelvingrove’s appeal total.

Funding will come from:

Grant-making trusts and foundations Wealthy individuals Corporate supporters A public appeal Fundraising by the Friends

“Relationship fundraising” is central to the strategy. Fundraising is the result of first-class donor and funder care. This means developing effective relationships with potential funders, both organisations and individuals. It requires understanding the needs, interests and aspirations of potential funders and donors. It requires a properly tailored approach. It will enable the Museum Service to develop an effective, focused fundraising culture based around long-term sustainable relationships, and this will have benefits beyond the term of the appeal.

FiguresThe development of the Museum of Bristol will cost £26.5m. Heritage Lottery Fund pledged their support of £11.3m in 2006. A further £12.43m has been pledged by Bristol City Council. (The agreement through Section 106 comes from the developers of the commercial and residential site behind the Museum of Bristol). This brings a total of £23.73m secured. Therefore, a shortfall of £2.3m, to be raised through the fundraising campaign, remains. The fundraising costs at 11% have not been included in the shortfall as these have been underwritten by Bristol City Council. (See finance table below).NB – The shortfall has been rounded up to £2.5m in the case for support.

The Fundraising Campaign

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Gifts and pledges secured to date by the fundraising campaign total £467,500 leaving £2.3m to be raised over the next three years from

Individuals Companies Trusts/ foundations Statutory sources Other areas

A fundraising campaign will be formally launched with the creation of a Development Trust, provisionally in September 2009. However a period of warming up and cultivation activity is underway following on from the feasibility study and previous advocacy work. This strategy outlines how we will achieve the current shortfall of £2.3m from funding sources outlined above by the opening of the museum in autumn 2011.

Financing the project

Expenditure £ ‘000sBreakdown of costs Phase One 1,400

Phase Two 24,761Fundraising campaign costs 300TOTAL COSTS 26,461

IncomeBreakdown of income Heritage Lottery Fund 11,300

Bristol City Council 10,931NOTE - Do we lump these two together? £12,43

Section 106 agreement 1,500

TOTAL INCOME 23,731

Fundraising campaign target

=TOTAL PROJECT COSTS–TOTAL INCOME 2,770

Breakdown of target Less gifts secured to date -467.5

TOTAL SHORTFALL - As at February 2009

2,300

Feasibility study – key recommendationsA feasibility study undertaken in the latter part of 2007 shows that raising the remaining £2.3m of £2.77m target is reasonable but will be challenging. The

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feasibility study took into account desk-based and on-line research as well as the findings from face-to-face interviews with likely supporters.

Where will the funding come from £ ‘000sBreakdown by source Trusts and foundations 1.25

Companies 300Individuals 500Statutory sources 180Friends of BMGA 50Public appeal 20

TOTAL 2,300

Trusts and FoundationsAs the Development Trust will have charitable trust status, trusts and Foundations are a likely source of income and can provide the bulk of the fundraising target. Trusts and Foundations support a project because its aims and objectives meet the grant criteria very specifically or that one (or more) of the trustees has some link with the project and the charity.

Research has identified 113 trusts to which we can consider applying. These have been matched on the constituent parts of the project, geographic areas of giving and further work will need to be done, on recruitment of our trustees, into any links to the trustees of the Trust or Foundation.

Furthermore other trusts and foundations may come to light during the appeal. If key relationships are developed it may be possible to increase the level of donations secured and increase the total raised from this source than that set out in the feasibility.

Our approach will be:Major Grant Giving Trusts

Identifying appropriate trusts to target on basis on constituent parts of project, for example, learning spaces, gallery spaces, and community and learning programmes;

Identifying connections on the trusts trustee board with our development trustees. Research has already been undertaken to identify networks of trustee boards and this information is being used to decide on best approach.

Hosting a number of peer to peer events (mixture of site visits, lunch meetings, private dinners, drinks reception) for the purpose of cultivating trustees and involving them more deeply in the project. Again, some events have already taken place and some site visits are planned for spring 2009.

On guidance from trustee make a formal application; Provide reports on progress of project funded and continue to involve in

development

Small to Medium Charitable Trusts As point one above, but timetabling approaches according to trustee

meetings and their deadlines;

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Making tailored applications on a rolling programme, annually or bi-annually as appropriate according to guidelines of trust;

Hosting behind the scenes tours and sending newsletters; Reporting and updating on development as part of continued stewardship

programme.

IndividualsResearch was conducted by Action Planning as part of the feasibility study and it was agreed to prospect for 50 names of individuals capable of making a donation in excess of £5,000. Full details of 51 prospects available in the research report and gift table. A number of individuals have also been identified through the team delivering the project. Research has been commissioned on these in line with the timings of our strategy and the campaign.

The principle of major donor development is to identify a way of approaching the wealthy person via someone they already know, trust and respect (peer to peer fundraising). We have already circulated our prospect list amongst our trustees and senior staff to find an appropriate route to the potential major donor, to commence cultivation and involvement. This list will be updated in regular prospect meetings. (Please see Appendix 5 - Prospect Pipeline).

Further, individuals capable of making donation less than £5,000 will be able to contribute towards the campaign through a variety of mechanisms throughout the entire period leading to the opening of the Museum. In the private phase it is recommended to keep this low level, on website, through donation boxes, through leaflets, but in the public phase will see a higher profile campaign supported by media activity.

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CompaniesGiven the history of commerce in Bristol there are many opportunities for significant corporate sponsorship within elements of the exhibition areas or themes within the museum. However, it is necessary to look at potential corporate funding in the light of the current economic recession and to be realistic about the possibility of some potential corporate funders cutting back on these areas of their business. Given the economic climate, the fundraising targets have been re-visited and the focus has shifted from corporate giving to other areas such as trusts and foundations and statutory funding.

Research has identified 43 companies as potential corporate funders. These include those based in Bristol and those that have a branch/presence in the city. There will be three main ways in which a company can work with the museum – through corporate sponsorship, corporate donations (corporate social responsibility) and through becoming a member of the planned corporate membership programme.

The Corporate Membership Programme will aim to attract members at three levels of funding for annual fees of £15,000, £10,000 and £5,000 offering a range of tailored benefits for each level. These benefits will include discounts on the new corporate hire facilities, behind- the-scenes tours and employee volunteering opportunities amongst other things.

Corporate sponsorship of key areas, floors and themes within the museum will be another main focus of the fundraising campaign. To ensure success in this area it is important that the content of the museum and the spaces within the museum can offer links and hooks for potential sponsors. It will also be crucial to offer sponsors tailored and creative benefits packages and marketing opportunities to fully maximise the sponsorship opportunity for them.

Corporate Donations (CSR) will need to be linked to the key themes and target audiences identified for the museum and will need to meet the criteria set by companies for their corporate social responsibility programmes. A strong case will need to be made for how we plan to engage with these audiences and how a company can meet their CSR objectives through involvement with the museum.

Based on our approach (please see appendix 2 – Private Phase 1) and the findings of the feasibility study we have revised the target and lowered it to £300,000 from companies (this does not include the £310,000 already secured) and a number of large donations have been identified as potential opportunities – please see the Gift table appendix 3 - however it is worth reiterating at this point that key to achieving gifts at this level will be around how we engage with these prospects identified as there will inevitably be some risk to fundraising if we are also approaching them for their input to collections too.

Statutory SourcesThree sources of Landfill Tax Credit Scheme have been identified as possible sources of funding. Pre-registration with ENTRUST is required prior to making applications. Further work will need to be done in identifying a prospect or donor through whom we can attract a third party contribution.

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In addition to the Landfill Tax Credit Schemes we will be approaching MLA for grants as and when appropriate for the Museum of Bristol.

Finally, Focus Consultants have been appointed to investigate other statutory funding sources, including EU funds and SWRDA.

Friends GroupsHaving spoken to each of the Friends’ groups about their involvement in raising money for the Service to date we are recommending the following for each:

Friends of Museums, Galleries and Archives Following the success of the Museum Friends in raising money for the Egypt Gallery to the complete the re-display we feel it would be reasonable to set them a target over the next two years to enable us to see the delivery of the Museum of Bristol.

Given the target was £40,000 for the Egypt Gallery we are exploring with the Museum Friends a challenge of raising £50,000. This could be for a discrete element of the project, possibly the working exhibits and the workshop space.

Friends of the Art GalleryIn discussion with the Chair and fundraising committee member it has been agreed that there are many ways in which the Friends of the Art Gallery can get involved. This includes, inserts in their newsletters, editorial in newsletters, and financial assistance where appropriate.

Of both groups continued joint working is essential as both groups identify they need to maintain their fundraising activity for their purposes but neither to the detriment of the campaign for Museum of Bristol. Quarterly updates at committee meetings to each of the groups would be a good way forward for maintaining lines of communication as well as meeting the chairs of each on a similar regular basis.

Strategy for the Capital AppealThe feasibility report identified three distinct phases for the fundraising campaign as is traditional with most capital appeals:

Research and planning A Private Phase A Public Phase

Research and planning is continuing in order to develop the tools for the basis of fundraising activity. A timetable for research and approaches has been developed, and a strategy for utilising the database for prospect management purposes is in the process of being developed. The private phase will be where the majority of funds will be secured with the remains during the public phase, with support from a media campaign.

In summary key to achieving a successful fundraising campaign there are four elements that can contribute:

High level volunteers/ trustees – time and networks

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Senior management involvement Behind the scenes opportunities – tours, workshops, one to one meetings, etc Experts around the organisation – specialist areas – content, learning, access

etc Compelling case for support Opportunities to engage with people’s personal affection for the city and

“involve” them with the museum

This will also most importantly include establishing a strong and compelling case for support with:

A clear business case for the appeal – why funding and charitable support is required – written from the perspective of a donor that answers questions they may raise (as featured in the feasibility study)

Reasons why a funder should agree to fund or invest in the project Transparent costings for the project Information on what the creation of this new museum will offer the

beneficiaries of the project i.e. what will the people of Bristol and beyond see and how will it impact on them

Expected aims and outcomes of the creation of the project Tangible evidence of positive impact MoB will have demonstrable through

educational, social and economic demand and need Clarification on the impact MoB will have on CMAG and other sites A strong vision, inspiration and imagination Agreed core messages Distinction from other museums like the Museum of Liverpool

Onward from the feasibility study contact needs to be maintained with the participants of the study in order to involve and test our plans with them, which it is intend will also have the result of securing gifts and philanthropic involvement from these participants.

The research and planning phase will be key to establishing a trustee board/ appeal committee whom we can work with to generate a network of supporters.

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The Funding PlanThe Museum of Bristol will have established a charitable trust for the purposes of raising the final sums of £2.3m required to fund the £26.5m project. This target of £2.3m is seen as reasonable but challenging for a project of this nature given the field of funds evaluated for an approach.

Research and planning and private phases will run concurrently due to timescales of the project and part way through the private phase, planning and implementation of the public phase will begin to take place.

Campaign pledge targetsThe following table shows the pledge campaign target totals to be secured during each phase with timescales attached.

PHASE AND DATES TARGET £ ‘000sPrivate phase 1

February 2008 – February 2011Focus of activityTrusts and FoundationsHigh net worth individualsCompanies

Private phase 2February 2009

Public appeal planning to commence

1,975

Public phaseNovember 2010 – Autumn 2011

Focus of activityPublic appealTrusts and FoundationsHigh net worth individualsCompanies

500

TOTAL 2,300,000

Private PhaseHere most of the major lead gifts will be secured, against 2 year timescale. This will be through personal/ tailored approaches of the trustee board supported by the Development Team through a programme of approaches to wealthy individuals, trusts and foundations and companies.

There will be two parts to the private phase – the first identifying and securing a number of lead partners giving at a higher level and selected for opportunities for appropriate involvement in the project at this time because of influence to the project – and particularly those with whom we may only have one opportunity of securing funding during the timescales of the campaign and because of the opportunity to influence and take part in developing the content.

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The second phase will be targeting many of those at a lower gift level but with opportunity to return to them at a later stage and from those whom we have been building relationships in the first phase.

During the early part of the private phase II, planning and implementation will need to go into the media/ publicity led public phase.

The goal for the private phase of the fundraising campaign will be £1.975m, broken down into two elements – the first securing £500,000 by September 2009 with the bulk of the gifts amounting £1.475m to be secured during the second phase by February 2011.

Leadership gifts will be sought to achieve the majority of funding during this phase. Leadership gifts of this size will come from individuals, companies, trusts and foundations.

Public PhaseThis phase will reach out to the entire community and we will seek to engage with our Friends groups and media partners to enhance our activity. Many smaller donations will be secured during this phase from the public and community. For this phase to be successful it will need to be underpinned by a strong media presence to rally public support. It is estimated we will launch this phase by November 2010.

Activity to support the Fundraising CampaignInitial ideas have been developed by the Development Managers however further input is required in discussion with the wider Marketing team to establish how this might be delivered in context of other marketing activity.

Project Champions/ PatronsFrom the feasibility study discussions it was identified a number of individuals who can talk up the project within the city to various forums – community groups, donors, media etc etc – they could be part of a media campaign around the project, host a dinner or event with donors to engage them with the project. These could include:

Tony Benn Sherie Eugene Tony Robinson Adam Hart-DavisNick Park Helen Dunmore Phillippa Gregory Mary Prior

Communications Web developmentTalks programmeNewslettersDonation form/ gift aidCampaign brochure

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PR for fundraising eventsPR opportunities for donor recognitionPR opportunities around fundraising needPublic appeal – unpinned by media activity

Press inserts Posters Warm appeal (database screen)

Collections – collection points at all sitesFactsheets

EventsA number events for small groups of donors, like hard hat tours – scope out how many looking at prospect pipeline – feasibility people, etcOne – to – ones – dinners, lunches, meetings over coffeeTrustee events – hosted externally tbc, launch eventOne or two large donor events – canapé reception or similar – maybe based in LondonLaunch of fundraising campaign September 2009Thank you event - launch of museum Autumn 2011

DatabaseFurther work is needed to understand and develop a strategy around the use of the database to support fundraising activity and this needs to be developed in discussion with other users. Issues in particular;

Greater understanding of needs required by departments using the database particularly in relation to contact management of wealthy donors

Consideration of data protection issues relating to warm appeal/ informing interested parties

Greater understanding of constituents in database

ResearchA prospect list has been drawn up and consists of over 300 names of individuals, companies, charitable trusts and foundations and statutory bodies to whom we can approach.

Of this list only 9 are known to the Development Managers as active donors (giving to the Museum service in the last year) although a number of individuals already have a relationship with the museum, i.e. attended a launch event or private view. It is yet to be established if any others have given a donation to the wider service in the last 20 years. A further 14 prospects were interviewed as part of the feasibility study and a programme of cultivation has already begun with these people to build a meaningful relationship for this project.

A gift table has been developed alongside research – this identifies prospects by size of gift to make up the campaign total.

Donor RecognitionLevels of recognition and outline costs attached are yet to be agreed internally– a donor recognition document is in draft as an appendices to this document and will

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need final sign off prior to making this first approaches in the private phase of the campaign.

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Museum of Bristol - Fundraising Strategy v.3

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