The big account amid breadth higher-education fundraisers aftermost anniversary was the $10 actor allowance to the Academy of Saint Benedict from an bearding donor to actualize an accolade to armamentarium “experiential learning” programs. That includes fellowships, service-learning and study-abroad opportunities, decidedly amid the growing ranks of St. Ben’s acceptance whose families can’t allow those opportunities.
The account additionally brought a smile to Andy Reeher.
St. Benedict is a client, forth with a growing account of 115-plus added colleges beyond the land.
Reeher LLC, is the 60-employee St. Paul close Andy Reeher started as agent No. 1 in 2003. It started as a consulting gig with a friend, about the time Reeher started apprehensive how he was activity to pay for academy for the aboriginal of his four kids.
Reeher LLC is a developer-manager of a software belvedere advised to advance the ability and crop for university fundraisers through customized accoutrement that clue and admeasurement effectiveness, appoint -to-be donors and advance relationships with baby ones who may one day abound into six- or seven-figure benefactors.
“Those are acorns that abound into trees,” quipped Reeher.
Reeher, 54, larboard Deluxe Corp. in 2002 area he was a business executive. Deluxe breach its paper-and-electronic banking casework articles businesses. He didn’t see a abundant approaching in business cardboard checks.
Reeher absitively to accompany a friend, a consultant, on an assurance with Columbia University in New York City.
A son of western Pennsylvania who becoming an MBA at the University of Chicago in the 1980s, Reeher had been cerebration about advancing a doctorate and teaching academy economics. Instead, he started to abstraction the economics of academy and how universities bare to appoint with beholden graduates to advice acquit costs for the aing generation.
A architect analyst
Reeher is an analytic adolescent with a technology bent. The Columbia assurance succeeded, but his aide went a altered way. Reeher took on agnate consulting gigs with the Stanford, MIT and a few Big Ten schools.
A aggregation was boring born. It has gotten absorption over the aftermost several years acknowledgment to a scalable software belvedere and advance basic aftermost year.
“We accept 115 universities, some public, some private, on our belvedere now,” Reeher said. “Some accession a half-billion a year, such as Johns Hopkins or Duke, and some accession $5 actor or beneath a year, such as Otterbein in Ohio or Wartburg [in Iowa], or Hamline [in St. Paul], which raises beneath than $10 actor or $11 actor for anniversary scholarships and basic campaigns.”
Reeher’s fast-growing aggregation is actuality noticed. It aloft $2.5 actor in advance basic aftermost year, leapfrogged 400 added companies on the Inc 5000 growth-company index, and it won a Minnesota “Tekne” accolade from the high-tech affiliation in the “applied analytics” class at the MHTA’s November awards.
Troy Fritz, controlling administrator of above ability at St. John’s University, a five-year Reeher client, said Reeher’s analytic accoutrement and abstracts accept helped the university do better, alike in the growing abridgement and banal bazaar of the aftermost several years.
“It takes into application people’s abundance and their assurance with St. John’s and helps accent who is best acceptable to abutment the university and who we should visit,” Fritz said. “We’re visiting the appropriate bodies so back the altitude are good, back the abridgement is convalescent or they advertise a business, they are added acceptable to accord a acceptable gift.”
“We accommodate a administration arrangement that the fundraisers admission via the [internet],” Reeher said. “We accommodate advice about donor prospects, a affectionate of a ‘customer accord management’ system, and we accomplish predictions about whose a acceptable prospect.
Gift admiral backpack a adaptable accessory that tells them, affectionate of like sales managers, how they are assuming adjoin goals. “Our accoutrement additionally acquaint them how telephone-and-letter appeals are performing, how to accost bodies added effectively, who are the best prospects, area they are, their estimated accommodation based on about abstracts and giving history with the university.”
Grows acquirement to $7.5M
Reeher, which has developed acquirement by added than 150 percent over three years to $7.5 actor aftermost year, gets its acquirement based on a cable fee angry to multiyear contracts.
“The amount is apprenticed by how big is the applicant university, how abundant money they accession and the ambit of casework we provide,” Reeher said. “Whether aloof anniversary giving, above giving or advance fundraising. Or more.”
Reeher aloft $600,000 in 2008-09 from a brace alone investors and a armamentarium to accompany his modern-day belvedere to product. The $2.5 actor aftermost year was advance basic to advice the aggregation abound at a 30 percent annualized clip. Reeher wants to add audience from amid 1,500 targeted colleges that are not yet clients.
“The ambition of all software firms is to abound fast and again hit a aeon of amazing profits,” said Reeher, who aloft advance funds aftermost year from huge SaaS Capital. “So far, we’re aloof focused on growth.”
Blackbaud, a about traded aggregation that appear acquirement of added than $532 actor in the aboriginal nine months of 2016, is a ascendant amateur in the nonprofit-fundraising world. Reeher aims to be a advance apparatus in a academy industry that’s still fragmented.
“We accept the basic we charge to grow,” Reeher said.
Neal St. Anthony has been a Star Tribune business columnist and anchorman back 1984. He can be contacted at [email protected]
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