From Rick Green’s Courant.com CTConfidential “What’s Really Happening”.
“To see what’s happening with local, independent, newsgathering, stop by the Woodstock CT Cafe or Urban Compass in Hartford, but don’t forget the always fresh Bristol Today.”
From Rick Green’s Courant.com CTConfidential “What’s Really Happening”.
“To see what’s happening with local, independent, newsgathering, stop by the Woodstock CT Cafe or Urban Compass in Hartford, but don’t forget the always fresh Bristol Today.”
This article was first published by the Cafe on November 9th, 2006. In light of Kevin’s statement above we thought that this article would add some perspective to the new Academy Foundation.
I found it interesting that Ms. Musumeci (former BOT chairman) reminded the Academy Communities that Woodstock and Eastford approved a special bond in 1987 amounting to $14.5 million for renovation and expansion of the Academy (equivalent to about $27 million today). The renovations and the expansion were completed in 1992 according to her address. But apparently the renovation and expansion continues as the result of the excess cash created by the refinancing of those 19-year old bonds. Under other circumstances the decision to refinance might make good financial sense.
Normally private, non-profit institutions have development programs with a Director of Development whose job description is to drive fundraising through public relations under the guidance of some sort of long-term strategic plan. The Boards of Trustees usually play key roles in development of strategic plans. These same Trustees are usually key operatives of fundraising programs, working together with and under the guidance of the Director of Development and the administrative leaders. This is why influential people with records of success in business and government are invited to join these Boards. Such Trustees have well developed networks with other influential people who, because of their successes in the business world, have their own wealth as well as the influence and ability to solicit the wealth of other potential benefactors. The Trustees’ altruistic mission is to explain the importance of supporting worthwhile missions and institutions/charities by articulating their value to the community and to the world. In doing so, they persuade potential benefactors to donate money to the cause of the charitable or non-profit institution. I speak from experience having been involved in hundred-thousand to million dollar fundraising efforts by three different non-profit institutions. The keys to success were always the perceived value of the mission of the institution AND the effectiveness of the leadership, the development director, and the trustees in creating this perception. This is an age-old, well-practiced activity of private schools, colleges, universities, and other educational institutions. Read the rest of this entry »
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