Seattle, WA – Seattle-based relationship mapping firm IntellectSpace today announced that this Fall it will begin the beta-testing phase of a powerful new addition to its portfolio of relationship mapping solutions. The product – called Hubmap – will be available as an extension to existing Prospect Visual users who have been selected as beta-testers.
Last month it was announced that the Broad Institute of MIT and Harvard had received yet another substantial gift – $650 million to be exact – from Theodore (Ted) Stanley. Stanley and his wife have been frequent donors to the Institute and the Stanley Center for Psychiatric Research named in their honor, is a tribute to that fact. This latest gift is generous, even within that context – being one of the largest private gifts ever made towards scientific research.
So why have the Stanleys been so generous towards Broad?
It all starts with their son. Ten years ago Jonathan Stanley was diagnosed with severe bipolar disorder. Though it took several years, Jonathan Stanley eventually came to control his illness through medication. The experience has clearly marked the entire family who, in addition to their frequent donations to mental illness research, are also responsible for starting the Stanley Medical Research Institute.
However though the Stanleys had a history of supporting mental illness facilities with small donations through their foundation it was not until they met Edward Scolnick that their giving took on such vast heights. Scolnick convinced the couple that it would take much larger sums to truly make a difference. The struck a deal that involved the Stanleys donating $100m over 10 years – and the Stanley Center for Psychiatric Research was born with Edward Scolnick as its director.
In the end, it all comes down to one relationship.
This story reveals just how powerful a personal relationship can be. The Stanleys were philanthropists and they had a cause they cared about due to their personal experience. But their major giving only began after they struck up a relationship with one man – Edward Scolnick. It is thus not surprising that the Broad Institute continues to enjoy the patronage of Ted Stanley and his wife, whilst their long-time friend Scolnick remains a prominent figure there.
For an entrepreneur, the ability to forge connections is a great asset. When you’re conducting business in a field where you don’t have specialist expertise, it’s often the only way to get a job done right. When our team at Virgin wanted to go to space, I looked for the best engineer in the world to help us build a spaceship. Once we’d connected with Burt Rutan, creator of the revolutionary SpaceShipOne, we were able to get to work on creating Virgin Galactic.
The University of Central Missouri received an unusual yet highly appropriate gift from the General Motor Company. The vehicle industry giant donated a white Chevy Malibu to the University’s Automotive Training program.
GM believes that there is a critical need within the sector for the training, development and retention of skilled managers and UCM’s program helps respond to that need. However though this is the only such program in the state, there are others across the country who could certainly benefit from GM’s patronage. So why UCM?
A quick look at this relationship report from Prospect Visual reveals that Senior Executives from GM have several strong connections to high-ranking constituents at UCM. This clearly suggests that cultivating relationships with potential donor organizations can be an extremely fruitful exercise for fundraising teams.
Duke University has yet again surpassed its previous impressive fundraising efforts by setting a new record-high – $441.8 million in donations for the 2013-2014 fiscal year (up 7.5% from the last year). Their number of donors went up, from 109,013 to 110,962.
What’s The Recipe For Success?
According to a story from The Durham News, the consistent increase in donations can be attributed to the continued support of both alumni and friends of the university. Duke President Richard H. Broedhead said, “The generosity of Duke alumni and friends expands the potential of what Duke can do – creating transformative opportunities for our stellar faculty and students and providing resources for them to continue engaging with global problems.”
It’s All About The Relationships!
It’s clear that Duke has been doing a phenomenal job keeping both their alumni and trustees engaged, fostering their desire to give back to the university. This can clearly be seen as alumni, parents, students and friends of Duke all contributed to a $35 million donation to the Duke Annual Fund which helps cover the cost of financial aid, faculty support and educational programming for all of Duke’s undergraduate, graduate and professional schools, as well as the operations of the libraries, Duke Gardens, Duke Chapel and Nasher Museum of Art.
Among other notable contributions, alumni J. Michael and Christine Pearson made the largest single gift to Duke in 2013-14, a commitment of $30 million to the Pratt School of Engineering to advance engineering and science education across the university. These contributions are only a few of the other large donations made to the university by alumni and friends – all of which show the value and importance of maintaining relationships with constituents.
The University of Texas of the Permian Basin’s young petroleum engineering program has recently received a major gift totaling a staggering $500,000 from petroleum giant Chevron.
Investing in the Future
Chevron Area Manager Mitch Mamoulides announced that the donation of $500,000 would go to create an endowed chair of petroleum engineering at UTPB. UTPB President David Watts said the donation comes at an important time for the university as petroleum engineering has been available at UTPB only since 2011 and graduated its first class of students in December. “Chevron doesn’t just invest in any old program,” Watts said. “They invest in quality programs and quality institutions.”
Chevron also donated an additional $64,900 for scholarships at UTPB to be divided among areas of community need, including engineering, nursing and teaching.
Other than the fact that UTPB is beginning to lead the way in petroleum engineering, the image below from Prospect Visual shows us another potential factor that could have also played into this donation as we see that a few key members of UTPB are very well-connected to key members of Chevron.
More than ever, networking is critical to an individual’s success in business. A strong contact network, also known as a business development network, where one person from every profession is actively seeking business from and for one another, can help create a virtual Main Street for businesspeople. It provides an environment and a system for a 21st century approach to the traditional model of doing business.
Thank you to APRA for hosting a great event for the Prospect Research community!
It was wonderful to meet all of you who dropped by to say “Hi” this year. We had a great time getting to know you and giving you a sneak peak of Hubmap – the next generation in relationship mapping.
We had a lot of fun hosting the iPad Mini competition and would like to send out a special thanks to Jill Meister who helped us with the prize drawing… And of course, we’d like to say congratulations to this year’s winner – Cari Maslow from Carnegie Museums!