A team of MBA students worked with Texas 4000 staff to establish baseline statistics regarding current retention rate of donors after the rider they originally donated to has completed the program in previous years. They will then work to identify what aspects of the program brought about the original donation and what qualities of Texas 4000 would lead to subsequent yearly donations if presented appropriately.
Company/Division/Operating Group Description:
Texas 4000 cultivates student leaders and engages communities in the fight against cancer.
Students from the University of Texas are competitively selected to participate in an 18-month leadership development program which culminates in a 70-day summer bicycle ride from Austin, Texas to Anchorage, Alaska. While in the program, students gain experience and skills while training for and planning all aspects of the summer ride. Averaging more than 70 miles per day and sharing messages of awareness and prevention along three separate routes, Texas 4000 is the longest annual charity bike ride in the world.
Our organization centers around three pillars: Hope, Knowledge and Charity. We share hope by letting those touched by cancer know that we are riding for them and fighting for a world without cancer. We share knowledge by bringing life-saving information about cancer prevention to communities large and small. We share charity by supporting cancer research and developing the next generation of philanthropists.
Business Issue to be Addressed:
Texas 4000’s annual revenue averages at $840K a year with a significant portion of that revenue, anywhere from $500K-$600K from individual rider fundraising. The organization also raises money through events, annual donations, and sponsorships. The issue with this revenue model is that the organization’s largest revenue stream, the donors of individual riders, turn over every year with very few of them recommitting to donate to Texas 4000 in subsequent years.
Our issue lies in identifying how to reconnect these donors to the Texas 4000 mission even after the individual rider they are supporting completes the program. This project would not only establish a perpetual revenue for Texas 4000, but also provide insight that could be used to identify and obtain additional sponsorship and grants for the nonprofit.
Specific Scope for this McCombs Project
During this project, the MBA student will work with Texas 4000 staff to establish baseline statistics regarding current retention rate of donors after the rider they originally donated to has completed the program in previous years. They will then work to identify what aspects of the program brought about the original donation and what qualities of Texas 4000 would lead to subsequent yearly donations if presented appropriately.
Deliverables for this project would include a report detailing current retention rates of previous donors as well as detailed information on what aspects of the Texas 4000 program would yield continued involvement from the donors. Additionally, Texas 4000 would like a documented communication plan or implementation schedule to secure future donations.