Turnover in Fund-Raising Post Is No Problem, Birmingham-Southern Chief Says

While college presidents play a central role in cultivating major donors and securing gifts, their increased fund-raising activities have in no way diminished the importance of chief development officers, says Rae Goldsmith, vice president for advancement resources at the Council for Advancement and Support of Education. In the view of Moody's Investors Service, which downgraded Birmingham-Southern's bond rating last year, stability of leadership in a development office is one indicator of a college's overall financial strength, says John Nelson, managing director of Moody's ratings for health care and higher education. Darrow Zeidenstein, vice president for resource development at Rice University, presented research to the Council for Advancement and Support of Education in 2011 finding that even minimal staff turnover carries significant costs.