Objective 1 – Stewardship of Financial Resources
We will know we have succeeded when we annually replenish the unrestricted endowment by adding to it 10% of the operating budget, with such funds to be derived from a combination of gifts, additional revenues, and greater operating efficiency.
Build a sustained fundraising infrastructure to ensure excellence in institutional development. Consider the following:
• Annual Giving: Revise and implement a renewed “Case for Support.”
• Major Gifts and Planned Giving: Build on Bicentennial Campaign solicitations to create a pipeline for a major gifts and planned giving program.
• Establish an (Institutional) Advisory Committee for Seminary Relations to prioritize institutional needs and create a funding menu for major gift opportunities.
• Collaboration with members of the Seminary community in maintaining and increasing donor relations and cultivation.
Right-‐size the employee base (all constituents) in line with the mission of the Seminary, using activity-‐based analysis, taking seasonal demands into account, and re-‐engineering programs, departments and workforce where necessary.
Clarify/develop policies governing Seminary practices in selected areas to align them better with PTS’s interests and expectations. Improve consistency and enforcement of all policies, including those related to:
• Honoraria (internal and third-‐party)
• Outside employment and other professional activities
• Use of seminary property/facilities
Evaluate options for increasing revenues and prioritize them based on materiality and likelihood of success. Consider such sources as:
• Increasing the size of the student body
• Offering new degree/non-‐degree programs that generate revenue
• Increasing tuition/reducing financial aid
• Selling/leasing some Seminary homes
• Reducing subsidies of various auxiliary functions/programs, e.g., housing, food service, and childcare.