North Shore Senior Center: Crowdfunding Thought Starters

Crowdfunding Thought-‐Starters

Chen Chen, Abby Rudd, Phebe Shi, Manuel Valdez &Young Yu

1.  Internal & External Problem Definition

2.  Road Map 3.  Why NSSC?

4.  Building Brand Equity 5.  Growth & Cost Structure

Resources

6.  Crowd-‐Funding Solutions

Presentation Overview

Current Situation In Perspective Context of Problem

Problem Definition

Key Questions

*  In the state of Illinois, nonprofits providing social services face increasing service demands with corresponding decreases in public funding. *  Huge anticipated growth of seniors in the near future due

to aging boomers. *  Significant growth potential in the social service sector,

but limited resources to facilitate expansion. *  General perception is incongruent with mission/vision. *  NSSC lacks public awareness and engagement with

potential donors.

Problem Definition

Key Questions How should NSSC be positioned to appear more engaging and attractive to potential fundraising sources? What segments of NSSC’s business can optimally be leveraged for crowd-‐funding opportunities? How can NSSC craft strategic messages to attract multigenerational financial support? In what ways can NSSC grow its donor base, but also retain those donors year-‐over-‐year?

Over 50% of the annual budget comes from federal, state and municipal funds. Current fundraising dollars are limited, but have potential to grow based on increased community awareness and understanding of competitors.

Deteriorating Government Funding

Name: North Shore Senior Center

VS Mission Statement: “The mission of the North Shore Senior Center is to foster independence and well-‐being of older adults; enhance their dignity and self-‐respect; and, promote their participation in and contribution toward all aspects of life.”

Perception Problem

Funding potential is lagging due to the lack of awareness outside of the older-‐adult cohort or those directly affected by someone receiving services from NSSC. Other generational groups provide large sources of relatively untapped funding potential, but NSSC lacks engagement with those potential donors.

Multigenerational Awareness Issue

Determine Core Message

Build Awareness, Understanding &

Care

Drive Larger Audiences

Collect More Donations

NSSC’s Road Map

Why NSSC?

*  Competitive Environment: *  40+ senior centers in the

North Suburban Area *  Mission: *  Foster independence and

well-‐being of older adults *  Enhance their dignity and

self-‐respect *  Promote their participation

in and contribution toward all aspects of community life

Why NSSC?

Strengths Opportunities

•  Offers the Social Service Sector •  House of Welcome •  Lifelong Learning Program •  Health Center •  Staff & Reputation

•  Online connectivity to those in community

•  Become recognized Alzheimer expertise in community

•  Partnerships •  Volunteerism for younger generation

involvement

Weakness Threats

•  Misconception of “Senior Center” name

•  No home care or residential service •  Visibility in the community

•  Recognized as “older” people service center and residential facility

•  Falling behind technology •  Funding •  Competition

Filling the Funding Void Solutions to Reduce Reliance on Government Funding

Building Brand Equity Brand equity must be established to build awareness for NSSC in local community. 1.  Build a multi-‐platform social media

campaign. 2.  Partner with Northwestern’s

Cognitive Neurology and Alzheimer’s Disease Center.

3.  Establish brand essence. 4.  Be proactive and reach out to local

media outlets.

*  Found positives, negatives and recommendations for each social media platform based on a social media audit: *  Facebook *  Google+ *  YouTube *  LinkedIn *  Twitter

Multi-‐Platform Social Media Campaign

It is recommended that NSSC partner with Northwestern’s Cognitive Neurology and Alzheimer’s Disease Center to expand influencers supporting the center.

Partnership With CNADC

Use and expand both NSSC’s donor and partner network by being proactive and leveraging local media outlets on a continuous basis.

Local Media Outlets

The brand essence for North Shore Senior Center incorporates the patients, their stories, and how NSSC

changed their lives. NSSC must record the essence of the brand and its patients through videos depicting the brand

story. These videos leverage emotional ties to build multigenerational awareness in potential donors.

Establish Brand Essence

Establish Brand Essence

Growth & Cost Structure Resources 1.  Partner with the HandsOn

Network. 2.  Partner with local businesses.

*  Rational – In order to grow, NSSC needs bodies to help support expansion in services. Volunteers are a great way to leverage resources to grow, while keeping costs minimal. *  Objective – To recruit 1,000 volunteers and 10,000 hours to

serve the social service program in NSCC by December 31st, 2015. *  NSSC could save at least $80,000 in cost, based on estimates

with Illinois’s minimum wage. *  Resources Available – HandsOn Suburban Chicago, One

Good Deed Chicago, Chicago Volunteer Network and Volunteer Match.

HandsOn Network

SWOT Analysis

Strengths Weaknesses Opportunities Threats

Partner with local business to reach and recruit more senior members and non-‐members to sign-‐up for classes. *  Rational – There are about 270,000 seniors in the Chicago

area, while NSSC serves over 18,000 of them annually. There is potential markets to explore through the Lifelong Learning program. *  Objective – To recruit 1,000 new customers to sign up for

$1,000 in courses each by December 31st, 2015. *  NSSC could increase revenue by $1 million (estimated by the

average cost per course). *  Resources Available – B&N for seniors, North Shore

Healthcare, local restaurants, etc.

Local Business Partnerships

SWOT Analysis

Strengths Weaknesses Opportunities Threats

Crowd-‐Funding Solutions 1.  Expansion of Annual Benefit 2.  Renting out the facilities 3.  Sponsorships with local sports

teams 4.  Alzheimer's Association

Partnership 5.  Art Shows & Farmer’s Markets

*  Event Details – 500-‐person silent auction and dinner benefit held at a Chicago-‐area ballroom (of at least 8,000 sq. feet) once a year with members of the community *  Attendees will pay a $100 fee to attend the event *  Key speakers will be in attendance to provide keynote speeches

regarding many of the issues NSSC promotes. *  NSSC will utilize key partnerships with Alzheimer’s Association

and CNADC *  Cost – Without corporate partnerships reducing overhead for

event expansion, a facility of this size with (at minimum) food, equipment and entertainment, could range anywhere from $50,000 to $90,000 *  Costs exclude promotion of event, invitations and silent auction

items.

Annual Benefit Expansion


*  Razoo campaign used to fund the expansion of the annual benefit. *  Online donation platform

targeted at raising funds for the enlarged Annual Benefit.

*  Promoted across NSSC’s social media accounts.

*  How the message is crafted will be key to the funding potential.

*  Partnerships with local businesses to build silent auction inventory with 100% donated goods. *  Reduces costs of acquiring

goods to be auctioned. *  Donation requests

promoted across NSSC’s social media accounts and local media outlets.

*  How much will the Annual Benefit will be marketed? *  It will be marketed across social media platforms, through

direct mail invitations, in local media outlets, and at NSSC’s physical location.

*  How will the message be crafted? *  The message will be crafted as an invitation for community

members to come out and support not only their families and community members, but also their future.

*  What time frame will it occur? *  The event will occur in the 3rd quarter of each year beginning

in fall 2016.


Item Inflow or Outflow Cash Received or Spent

Event Cost ($90,000)

Razoo Funding $50,000

Ticket Price ($100*500 guests) $50,000

Donations (From Auction and Donation Table)

$500,000

Total Raised $510,000


•  NSSC facilities generally remain unused after 4pm and on weekends.

•  This opens the door for a great opportunity to raise additional funds.

Renting Out the Facilities

*  What will this initiative do? *  Rent out facilities to other organizations and host community events *  BBQ parties *  Ballroom Dancing *  Garden Party

*  How will the message be crafted? *  Invitation for community members

*  How will it be marketed? *  Across social media platforms *  Directly to local townships *  Direct mail invitations *  Local media outlets


*  What time frame will it occur? *  Facilities can be rented out at any time during the year

*  How much will it raise? *  Facility Fee -‐ $2,000 per event *  Entrance Fee -‐ $10 per guest *  Donations – Unlimited


Local Sports Team Sponsorships

*  NSSC has already approached the Chicago Bears, Blackhawks, and Cubs but NSSC failed to make a connection *  NSSC can consider reaching out to local sports teams – minor league, high school, junior college.


*  What will this initiative do? *  Reach out to the Midwest league, Chicago Sky, Chicago Steel,

Kane Country Cougars, Chicago Wolves, Northwestern University, etc.

*  How will the message be crafted? *  Invitation to sports fans to engage with NSSC

*  How will it be marketed? *  Across social media platforms *  Local media outlets *  NSSC’s physical location


*  What is the time frame? *  Year-‐Round *  How much will be raised? *  Realistically could raise an estimated $2,500 per team *  Donations from those gained through this partnership

could reach $30,000 annually

*  World’s leading voluntary health organization in Alzheimer's care, support and research. *  NSSC can leverage this

relationship and use their knowledge, help bring more people to help the cause, and get network benefits in terms of donors.

Alzheimer’s Association Partnership


*  What will it do? *  Alzheimer’s is the 6th largest cause of death Illinois and an

estimated 210,000 seniors are affected by the disease. *  Alzheimer’s Association Mission – A world without Alzheimer’s

disease. *  Core Value – Inclusiveness that provides opportunities and forums for

many stakeholders to be heard across activities throughout the Association.

*  How will it be marketed? *  For NSSC – Leverage digital resources through partnership and

provide a donation table at the AA’s walks and events. *  For AA – Have an externally-‐recognized treatment provider in the

greater Chicago area that helps Alzheimer patients cope with the illness.


*  How much will be raised? *  AA raised $122 million for research within 2014 Fiscal Year. *  $5 from all of the 11,346 walkers in Chicago

*  How will the message be crafted? *  NSSC is a trusted care provider that would form an arms-‐

length partnership with AA. *  NSSC provides educational resources for afflicted or families.

*  What is the time frame? *  Talks could be initiated throughout the remainder of this year

and implemented in 2016 at the walks and events.

*  What is it you want to do? How are you going to market it? *  Collaborate with townships, local businesses, national/local

charity ,and art communities to sell artwork for fundraising *  11 towns in North Suburban area, not including Chicago *  55 farmer markets in Chicago area, opened from Saturday to

Thursday *  10 art, crafts and culture events coming up in June in greater Chicago

area.

Art Shows & Farmer’s Markets


•  How much will be raised?

•  E.g. Evanston Downtown Market •  58 Vendors, 1428 Likes on Facebook

•  Awareness: •  # of population * 35% see it •  =5,804 * 35%=1741.2

•  Fundraising: •  # of weeks opened * (# of people buy

=35%see it * 0.5%) * price/piece =26*(1741.2*0.5%)*$25=26*8.706*25

•  =$5658.9

•  Total Awareness •  1741.2*55=95,766

•  Total Fundraising: •  5658.9*55=$311,239.5


•  Time Frame: •  Starting May through October

•  Message: •  NSSC is ultimate place to promote participation in & contribution

toward all aspects of community life •  To help Alzheimer's patients in community

•  Measurement: •  Buy artwork → •  Leave their contact info → •  & Give 1 free lifelong learning class participation coupon → •  Track those who come to NSSC

Questions or Concerns? Concluding Remarks

North Shore Senior Center: Crowdfunding Thought Starters

Data & Analytics

Transcript of North Shore Senior Center: Crowdfunding Thought Starters