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by Anna Wagner -
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Over one-third of AIChE Student Chapters receive funding from corporate sponsors. Many of these chapters attest that their corporate sponsorship program is their most effective source of income. The AIChE Student Chapter at the University of Michigan has allowed us an inside look into their successful corporate sponsorship program.
Describe your sponsorship program.
Corporate sponsorship is our biggest form of fundraising. We have several long-standing relationships with industry sponsors who graciously sponsor our chapter every year. These vary in form, from yearly gifts of set amounts, to sponsoring events like our luncheons and tailgates.
Do you have any sources of income aside from sponsors?
In addition to corporate sponsorship, our chapter is able to apply for grants from our student government to cover specific needs or events. We also raise money through both membership dues and assisting the department with chemical engineering t-shirt sales.
Approximately how much money per student chapter member does your sponsorship program bring in?
There is funding for roughly $160 for every student chapter member, and half of this comes from our corporate sponsors.
What student-held positions are involved in the sponsorship program, and what role do they play?
A good organizational structure is critical to obtaining and maintaining corporate sponsorship relationships. The following is the way our University of Michigan chapter is structured around corporate sponsorship, but there are multiple ways to successfully structure leadership to handle this responsibility.
First and foremost, our president makes the vast majority of direct contact. The president's job is to write letters, reach out to corporate contacts, and follow up after events with our sponsors to make them feel valued throughout the process. The treasurer is in charge of managing the finances, evaluating future sources of funding, and being an alternate source of contact. A unique position to our chapter is a role shared by our two mentorship chairs. The goal of these chairs is to connect the freshman and sophomores to the chapter and to chemical engineering. One of the mentorship chairs has a responsibility with industry to reach out and find plant tour opportunities, organize a freshman/sophomore career expo, and to be another source of industry contact.
What steps do you take to retain sponsors? What is your sponsor retention rate like?
Loyalty is a huge pillar to our corporate sponsorship program. Especially with our biggest donors, we have had fairly long-standing relationships at this point that we work to foster. How we originally built these relationships with sponsors is through our luncheons. We work very hard to make sure every company is getting in at a luncheon time they desire, and attempt to show how valued they are to us with contact from the president. Sending a newsletter that reviews your semester can be valuable to show corporate sponsors how their donations were utilized.
A lot of companies are willing to pay for events, but getting extra donations to come into the program can really help it thrive. A very critical thing about getting donations from companies is that, in their letter to you, and whenever it is processed, it must be called a gift in order to be tax exempt for them.
In your experience, what do sponsors seek the most to get out of their sponsorship?
The most valuable thing you can do to show a company their money was well spent is to publicize and make their event as well attended and received as possible. Announcing all these events can come off as nagging, but it will really be worth it when a great crowd comes out for a big event and the sponsor is happy. These companies primarily want public exposure to bright young chemical engineers, and as long as your chapter provides that, the relationship has a great foundation.
How have your student members benefited from sponsorships?
Student members likewise benefit from these relationships by getting to know about many great companies where chemical engineers have the opportunity to work. Students can listen to what every company has to offer and figure out industries where they think they will be most successful. The food that companies offer is also a welcome break from the dining halls.
How have you changed your sponsorship program over the years?
The biggest recent addition to our corporate sponsorship portfolio is our mentorship program. This is a way for us to increase our freshman and sophomore involvement. It has been absolutely great to get their increased involvement in plant tours, luncheons, and, as a result, general chapter activities. Our sponsors love getting the opportunity to interact early and often with our chemical engineers. I think it is a bit easier to sell this as a next step in a corporate sponsorship relationship, but if done right, it can be a great move as an earlier step too.
What makes your sponsorship program unique to your school?
Our sponsorship program started and is carried by our luncheons. That is our staple. But it is very important to continually examine ways to enhance and adapt your program to your and your sponsors' needs. Our chapter was having issues getting freshman and early sophomore involvement, so we developed the mentorship program, and we made it in a way that it worked great for our sponsors also. When our sponsors come to us and want a different experience than our luncheon, we can sometimes customize one for them like this past year with our BASF tailgate.
Why do you believe your sponsorship program is successful? And in what way(s) do you consider the program to be successful?
We are extremely happy with our corporate sponsorship program, but are always looking to improve it. We have a different company coming in every week from September through April, which shows the breadth of our program. All of the companies we interact with have so much to offer, meaning there are always more opportunities to explore with them. I do think we have done a great job of keeping our important sponsors feeling valued and committed to our chapter. I think that our membership has seen the benefits of the program and continue to come out in big numbers every year and learn a lot.
What advice or insight can you provide for a student chapter starting a corporate sponsorship program?
Contact anyone possibly willing to help. This is the most exhausting part, but it will be well worth the effort. Alumni and people connected with the school are almost always more willing to help than you anticipate. As a place to start, program advisors sometimes keep spreadsheets with the contact information of graduates. It is a continuous process, but well worth the stability and benefits it can provide an AIChE Student Chapter.
For more information about University of Michigan's AIChE Student Chapter, please visit their website or Facebook page.