There's much use of the 'f-word' these days. Fundraising has become big business, and job advertisements for fundraisers and development managers are burgeoning as institutions contemplate cuts to traditional funding sources.

This new reality reverberates especially loudly in the halls of academe. Unlike their American and British counterparts, most Australian universities have been slow to exploit fundraising's potential. But that is changing, according to Monash University's deputy vice-chancellor and vice-president (Resources), Ms Alison Crook.

"The point comes at which all such organisations realise that there's increasing competition for every dollar and that the government won't meet all their needs," she says. "At Monash, we've realised there are a number of different ways we can go about generating the resources we need, and fundraising is clearly one of them."

Ms Alison Crook believes fundraising is one way of making up the funding shortfall the university faces.

With a background in the private and public sectors, Ms Crook is familiar with both sides of the equation. As state librarian for NSW, she developed successful campaigns that brought in $1 million annually, not bad for an organisation of only 350 people at the time. As a former company executive, she knows the corporate sector is inundated with funding requests.

"Strategy and coordination are the key words," she says. "We need focused approaches from each area, to work out how that area can be made attractive and to whom it's attractive - what's the message and to whom is it directed? It must also be a coherent approach."

Higher education fundraising generally targets three donor groups: alumni and individuals; industry and the corporate sector; and charitable trusts and foundations. The type of campaign depends on how the funds will be used: annual giving might help create scholarships; major gifts could help kick start projects such as Monash's Prato Centre or expansion of the Monash Science Centre (see story on page 10); bequests might endow specific academic initiatives.

The struggle for donors' hearts and funds is fierce. A recent survey by Australian consultants O'Keefe and Partners, 'Giving Trends', found corporate philanthropy to be at a low point in Australia, down about 20 per cent since 1998. And the impact of fundraising tools such as the internet is still not clear.

Professor Stephen Parker says the Law Schoolıs foundation will raise funds for major ventures.

A focused approach

"Changing demographics and government policies (such as the GST and fringe benefits tax), coupled with the increasingly competitive nature of the sector, have reinforced the environment of change in both fundraising philosophy and practice," the authors say. "Astute organisations have recognised the importance of investing significant resources to establish long-term strategies."

Monash's Faculty of Law is taking a long-term approach. Dean Professor Stephen Parker says the faculty is committed to a professional, transparent program with an emphasis on building relationships.

Long-term strategies

While short-term campaigns enable specific events or activities to happen, the faculty has established a foundation to raise funds for major ventures or shifts in direction. The foundation's board includes respected figures from the legal world, who will oversee spending on projects normally outlined in the faculty's operational plan.

"In this way, donors can be confident their money will be used for major strategic purposes, with decisions being made by a credible group in accordance with pre-existing procedures," Professor Parker says. "We expect donors to be motivated by the need to ensure the continuing success of a major law school, in the face of uncertain times and diminishing public funding."

		If you would like to support the university in any way, contact the Office of University Development on +61 3 9905 2340.