When Stephen Moret took over as president and CEO of the LSU Foundation in April 2015, the former economic development leader was charged with creating a new fundraising model that will position LSU with one of the best advancement, or fundraising, programs in the country. That would be a lofty goal at most any university.
As Business Report details in feature from its latest issue, it’s a particularly daunting challenge at LSU, which has one of the worst advancement programs around—if not in the nation, then certainly among its peer institutions in the Southeastern Conference.
LSU’s rate of alumni giving ranks last in the SEC, and its endowment growth trails all but two of its counterparts in the conference. But Moret is up for the challenge.
In his 11 months on the job, the former secretary of Louisiana Economic Development—known for his brainiac problem-solving skills, encyclopedic command of facts and figures, and tireless work ethic—has brought in national experts, researched the data, identified the issues and begun to lay the groundwork for a completely new approach to fundraising at LSU. It will include a major capital campaign with a goal that Moret will only say is “well in excess” of $1 billion.
“This will be a big effort,” says Moret, who led the Baton Rouge Area Chamber for more than three years prior to serving as LED secretary between 2008 and 2015. “This will be a campaign that will be about establishing LSU’s future in the state and the country.”
LSU has long lagged behind its peer institutions in the area of fundraising, or what is known in the industry as advancement. Its three-year rate of alumni giving participation is just 6%, the lowest in the SEC and less than half the conference median of 14%.
Its endowment per student, at $14,100, is also at the bottom of the list. By comparison, Texas A&M’s is $193,600, Arkansas’ is $37,800, and even that of neighboring Ole Miss is $27,200. LSU also has less than half the SEC average number of annual donors, who, statistics show, are most likely to make large gifts of $25,000 or more.
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