Department of Accounting SWOT Analysis - College of Business ...

Financial Strategies
The Department raised $40,500 in “soft” funds from the following sources during AY06:
• $18,000 in contributions on the Department’s behalf to the University
Education Foundation (compared to $17,500 in AY05, $21,500 in AY04,
$17,000 in AY03 and $13,333 average during AY00-02)
• $8,000 in funds from the Department’s annual DOA 5k race (compared to
$8,000 in AY05 and $5,000 in AY04)
• $5,000 in funds from the CPA Review Course (compared to $5,000 in
FY05)
• $9,500 in funds from offering mandatory Ethics Training for CPAs
(compared to $9,500 in FY05).
College support for faculty travel increased in AY06 to $1000 per tenure track faculty
from $800 during AY05.
Reviewing the trends in obtaining “soft” funds, it appears that the amount of soft funds
that the accounting department can raise has leveled off at approximately $40,000. This is
acceptable given that the Department’s fundraising efforts are focused on the capital
campaign and the establishment of endowed chairs. Consequently, the Department
remains committed to obtaining $40,000 in “soft” money during AY07.
The biggest fundraising news of AY05 dealt with the announcement by Dean Bagranoff
that the College would work with the department to raise funds for three $500,000
Accounting professorships. During AY06, Dean Bagranoff, Chair Ziegenfuss, and the
College’s Major Gifts Coordinator, Michael Walker, formed a steering committee to
coordinate the Endowed Accounting Professorship drive, identified potential donors,
assigned potential donors to the members of the steering committee and began calling on
potential donors. This activity will be continued in AY07.