Features Relevant Research Cook, W. Bruce and William F. Lasher. "Toward a Theory of Fund Rais- ing in Higher Education," The Review of Higher Education 20 (Fall 1996): 33- 51. Although fundraising at public and private institutions has become criti- cally important, it is still a relatively young profession and little has been done to ex- plore its dynamics or systems in ways that would inform and improve practice. The value of the work reported in this research article is obvious when one con- siders that most of what is available to read on fundraising generally lacks much historical or theoretical perspective. The authors rightly point out that the major- ity of existing literature focuses on fundraising methods (how to), donor motivation, and the need for fundraising. Critical, rigorous scholarly inquiry into the dynamics of fundraising is generally not to be found. This is not just another esoteric research issue; it is vitally important if higher education (and non-profit commu- nity-based organizations) are to be able to assess the outcome of their efforts, plan for improvements, understand the impli- cations of their decisions and actions, and Barbara Holland, Editor develop innovative strategies that re- spond to dynamic conditions. Some- how we have developed the view that fundraising is like planning a party; there's nothing very scientific about it. However, with many institutions in- creasingly dependent on private support, growing competition for limited funds, and capital campaigns ranging up to a billion dollars, fundraising has become a serious and complex enterprise with high stakes. These two Texans, an admin- istrator and a faculty member, conducted a national qualitative study based on documents and interviews from 50 aca- demic leaders. Their article reflects a theoretical framework that represents fundraising as a social exchange process that is affected by four types of forces. The result is certainly a basis for fur- ther research on this important topic, but it also provides some information that can inform and improve practice, especially for presidents. Cook and Lasher begin with a probing historical review of the role of the presidential CEO in fundraising that succinctly presents the basis for their research questions. From their findings, 98 Metropolitan Universities/Fall 1997 they offer 12 prerequisites for sustained namic relationship. For example, they fundraising, many of which are common can shape the choice of an institution's sense (e.g., prestige, wealth of donor new president. The expectations for a base), some of which are important points new president as fundraiser are shown to often overlooked, such as "public confi- be a reflection of environmental and in- dence in higher education and the non- stitutional conditions that define the role profit sector generally." The authors expected and therefore suggest the per- found that not all institutions exhibited sonal qualities that should be present. In- strengths in all the prerequisite areas, but stitutional factors will tend to dominate that capacity to fundraise was a balance at elite, prestigious institutions, and per- across the factors . In other words, weak- sonal forces and skills will be more im- nesses in some factors required greater strength in others. The article draws a distinction between success and effectiveness in fundraising: success refers to achievement of dollar targets and effectiveness in- cludes an assessment of capability and potential as well. Using the 12 factors for sustained fundraising, the authors could identify institutions that were able to be effective even though their presi- dents were not particularly fond of the fundraising role. A social exchange model of fundraising is presented that focuses on the interdependence between the organi- zation and the donor who want to make an exchange with each other. The key portant as shapers of expectations for presidents at smaller institutions with less fundraising experience. The interaction of the forces changes over time. As presi- dents gain experience with the institution and the environment, the force of role becomes more and more dominant and they tend to spend more time on fundraising (a factor of growing confi- dence and competence). The authors hope that knowing the prerequisites for sustained fundraising and the systematic model of fundraising will help presidents and development of- ficers to improve institutional prepared- ness for fundraising and build effective- ness through increased capacity and po- tential. Their article is useful now, how- actors (presidents, volunteers, deans, ever, in helping practitioners to move be- fundraising staff) are subject to four in- yond thinking of fundraising as a series tervening forces: environmental, institu- of fragmented or discrete cultivation ac- tional, personal, and role. The model tivities that are controlled by the institu- shows how these forces influence the tion. Instead, as Cook and Lasher show, actions and reactions of the key institu- fundraising is a dynamic process of enor- tional actors when donors make decisions mous complexity that involves the nego- about giving or not giving. The four in- tiation of a social exchange that is as im- tervening forces are shown to have a dy- portant to the donor as to the institution.