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  • 1.  Building a peer group for benchmarking

    Posted 07-07-2023 08:33 AM

    I've been asked to lead an effort to identify a list of peers we can use to compare and benchmark our advancement progress. As a first step, I'm posting here to see if anyone has gone through a similar process or have thoughts on what are the best points of comparison to consider when identifying a good peer? To clarify, this is a peer group specifically for Advancement. While there could be overlap with other defined peer groups at the institution, it will not necessarily follow the same model used by admissions for example and can be distinct.

    Thanks for your thoughts!
    Leah



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    Leah Richards
    St. John Fisher University
    lrichards@sjf.edu
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  • 2.  RE: Building a peer group for benchmarking

    Posted 07-07-2023 09:06 AM
    CASE may be a valuable resource in helping identify peers and cohorts based on VSE data. Their Insights survey tool can help with benchmarking.

    You may wish to include aspirational institutions - those that look like you on paper (private, $100MMish endowment, 4Kish student body, etc.), as well as those within NCAA Division III, the ECAC, or the Empire 8, but raise more money.

    VSE data will identify most of the factors you should consider. I would start there!

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987






  • 3.  RE: Building a peer group for benchmarking

    Posted 07-07-2023 08:46 PM

    I agree with John that the VSE is an excellent resource for peer institutions.  I also have used the US News and World Report categories.  Your institution will be grouped with similar institutions according to size and institutional offerings (degrees offered, etc.).  Looking at those institutions rating near you in your category is another option. Also, as John mentions, don't forget to select aspirational peers!  

    Terry Callaghan

    Senior Director, Management Consulting

    Zuri Group

    Proud aasp Executive Board Member



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    Terry Callaghan
    Zuri Group
    terry@zurigroup.com
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  • 4.  RE: Building a peer group for benchmarking

    Posted 07-10-2023 08:01 AM

    Thank you both! I did reach out to CASE and they were helpful to point toward some VSE reports that they produce and that identify peers for us that vary year to year. It's a helpful starting point to review how their algorithm works and what peers they've compared us to in the past. I do also appreciate the comment regarding identifying some aspirational peers in the mix.

    One add-on question, how many peer institutions would you recommend identifying? My gut suggested 3-5 with 1 to 2 of those being aspirational but curious if there is a general rule of thumb or recommended number for statistical comparison. Thanks again!



    ------------------------------
    Leah Richards
    St. John Fisher University
    lrichards@sjf.edu
    ------------------------------



  • 5.  RE: Building a peer group for benchmarking

    Posted 07-10-2023 08:14 AM
    Hi Leah....  

    If you are including aspirational, I would aim for 5-7.  Not all of the peers will be a "perfect" match, so it's good to have a few for comparison.  

    Terry Callaghan 
    Zuri Group
    aasp Board





  • 6.  RE: Building a peer group for benchmarking

    Posted 07-10-2023 08:16 AM
    3-5 is likely not a large enough group. At Duke, we had over fifteen, and at NC State, it was around a dozen. Most clients I have worked with typically had between 12-20 - I cannot recall any smaller peer groupings that were less than eight.

    You want it large enough to allow for variances and calculatingmeaningful medians. 

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987







  • 7.  RE: Building a peer group for benchmarking

    Posted 07-10-2023 08:24 AM

    Glad I asked! :) Thank you Terry and John!



    ------------------------------
    Leah Richards
    St. John Fisher University
    lrichards@sjf.edu
    ------------------------------



  • 8.  RE: Building a peer group for benchmarking

    Posted 07-10-2023 08:25 AM
    Although not a "standard," this article suggests fifteen as a good number. I should also add that often these peer groups are used for benchmarking throughout the Advancement organization - not only to gauge fundraising performance but you may also use the same group when doing salary and staffing comparisons and looking at organizational structures. The more data the better! As long as you aren't overloaded!

    See the paragraph under the heading of "Challenges in peer group development":

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987


    On Mon, Jul 10, 2023 at 6:15 AM John Taylor <johntaylorconsulting@gmail.com> wrote:
    3-5 is likely not a large enough group. At Duke, we had over fifteen, and at NC State, it was around a dozen. Most clients I have worked with typically had between 12-20 - I cannot recall any smaller peer groupings that were less than eight.

    You want it large enough to allow for variances and calculatingmeaningful medians. 

    John

    John H. Taylor
    Principal
    John H. Taylor Consulting, LLC
    2604 Sevier St.
    Durham, NC   27705
    919.816.5903 (cell/text)

    Serving the Advancement Community Since 1987