INCAE Giving Day 2022: The More You Give, the More You Get
*An interview with Wendy Rodríguez, Director of Institutional Advancement LatAm at INCAE Business School.
They say that the more you give, the more you get. Throughout history, humanistic and business philosophies have supported the reciprocity principle. And this sense of correspondence applies at all levels: individuals, companies, institutions, and countries. At INCAE, we know this only too well.
Thanks to the generosity of its community and allies, INCAE keeps transforming lives. The donations received by the best business school in Latin America are used for noble purposes, such as providing scholarship funds or funding our Impact Centers. This year, with the proceeds from INCAE Giving Day 2022, the goal is to strengthen our Annual Fund.
INCAE Giving Day 2022, to be held on November 18-19, will use the magic of virtuality to bring together our community of donors, allies, and graduates for several days in a series of forums with experts on social investment, investment attraction, value-added talent, digital transformation for customer loyalty, and more. Thus, INCAE wants to thank its network of graduates for their support by providing them with its most valuable asset: the intellectual capital of its speakers and the opportunity of connecting with high-level panelists.
To discuss this exciting topic, we spoke with Wendy Rodríguez, director of Institutional Advancement LatAm, who said, “This year we want the entire community, our allies, and the INCAE family to participate. Not only students and graduates, but also those internal and external allies who, year after year, support this great institution in different ways. We want them to realize that this institutional celebration is not only dedicated to Incaístas, but also to those among us who feel part of this great family all over the world.”
Everything adds up at INCAE Giving Day 2022
All donations add up in this philanthropic work. The contributions will allow many young people to have the financial support to enter our programs, continue with their academic preparation, and, eventually, become regional leaders. Rodríguez specifies, “We want our donors to say: 'Today I can contribute $100 dollars, and if next year I do better, I might give $1,000. By adding up $10 and $100 contributions we can raise a $100,000-dollar scholarship and help three, four, or five young people to experience what many of us have experienced as Incaístas’.”
Currently, INCAE's Annual Fund plays a crucial role in this important institutional mission, but it is not enough to meet the high demand for scholarships and, at the same time, to help other important research and impact projects, such as the continuing updating of the campus’ digital and physical infrastructure. INCAE Giving Day 2022 aims to bring resources that would partially cover the amount provided by an endowment fund like the one possessed by the best business schools in the world – and we must not forget that INCAE is one of them.
“As you well know,” Rodríguez adds, “INCAE was born based on debt and not with an endowment fund. Since its foundation, Mr. Chico de Sola, together with Mr. J.J. Vallarino and the other members of the Board, discussed the importance of creating an endowment fund. There were some initiatives in this respect, the most solid of which came from the INCAE Foundation when it created The Foundation for Management Education in Central America in the 1980s. It currently manages a patrimonial fund, the proceeds of which are allocated to scholarships for MBA students.
Today, the Annual Fund raises 1.1, 1.2... up to one and a half million dollars every year.” Rodríguez – also an Incaísta – points out that for the Annual Fund to perform like an endowment fund, it should be generating at least USD 3 million which would represent 10% of the annual operating budget.
Donations from the INCAE community to their alma mater have an additional positive impact on the institutional image. Rodríguez explains, “Some rankings repeatedly ask how many donors the institution has, how many of those donors are companies, how many are graduates, and how many are foundations. They also want to know their annual growth. Rankings also measure loyalty, and those numbers speak volumes.”
The entire institution is involved in INCAE’s fundraising efforts. According to the interviewee, “The President and the deans play a critical role in fundraising. By sharing the results of the institution, the President leads those efforts. Everything the deans, the business areas and the impact centers of the institution do contribute to our fundraising efforts.”
As mentioned above, INCAE Giving Day 2022 will use the magic of virtuality to unite our network of allies for several days in a series of forums by country or region, with experts on social investment, talent, and added value. INCAE wants to thank its donors for their support by providing them with the most valuable asset that INCAE and its speakers possess: their intellectual capital.
“We begin on Monday, November 18 with an event for our allies from the United States,” says Rodríguez, who continues, “On November 21 it is the turn of the Northern Triangle (Guatemala, Honduras, and El Salvador) with an event on social investment. On Tuesday 22 we turn our attention to Panama (investment attraction), and on Wednesday 23, to South America (digital transformation and loyalty development). We finish on Thursday, November 24 with Costa Rica (talent attraction with added value).”
On Friday 25, we will hold an internal event to present the new virtual classroom, and on Tuesday 29 INCAE Giving Day proper takes place. Dean Camelia Ilie will speak about the future of education and how INCAE is at its forefront. A high-level panel will share why it makes sense to support INCAE.
In short, these events will feature great allies and graduates talking about why they believe in INCAE. They are people who not only help open doors but are also willing to contribute from their own resources so that more young people are trained at this institution.”
Other distinguished guests include Professor Andrea Prado, Director of the Strachan Chair for Philanthropy and Social Investment; Professor Rocío Pastor, Chair of Negotiation, talking about why companies in Costa Rica continue to grow and attract the best talent; Professor Sergio Restrepo, an expert in marketing and digital transformation, and Roberto Artavia, President of INCAE’s Board of Directors, talking about foreign investment and the continuing investment growth in Panama.
"These activities seek to strengthen our sense of community; to remind us of the value that INCAE provides to the region by training hundreds of leaders in its classrooms every year; and what it does through its impact centers in each of our countries. It will thus be easier for donors to recognize the value of every dollar they choose to invest in this institution. We are going to broadcast these events on YouTube so that no one is left without participating once the Zoom sessions are fully booked. My dream is that seeing all the value that INCAE brings to each one of us and to the region, many of us will decide to make a personal contribution for the amount that each of us can afford. Donating to INCAE means commitment. It means, 'I believe, I feel part of it, and I want to help those who come after me'. That is what a donation to INCAE means,” concludes Rodríguez.
It’s time to give. INCAE Giving Day, 2022.