What are the best options for transformational funding to develop a zoo site..?
In terms of external funding, and leaving aside commercial borrowing, where should a zoo organisation prioritise its attention if it wants to radically raise its game, or even establish a completely new operation?
A few quick thoughts and in very rough order of priority…
1. Those authorities responsible for the socio economic development of your nation, region, city or locality. How can your plan meet their aims? Such agencies may well be willing to put major funds into organisations if they see economic benefits for the relevant area. See this document: zoos-and-economic-development5.doc
2. Public-private partnerships: is there a case whereby the radical development of your site will efffect the value of surrounding land? In which case, with the right commercial partners, it might be possible to effectively draw capital funding now against this future prospect. Without the central and thematic attraction, property prices will not of course develop in the first place. This approach can be linked to number 1
3. Major philantropic input from wealthy individuals. This is not an easy appoach, but it can work, as proven in the instance of Home Depot billionaire Bernie Marcus whose massive generosity ($250 million) allowed the creation of the world’s biggest aquarium in Georgia. In the right circumstances this might be linked to number 2.
4. Senior commercial sponsorhip. Despite my own success with Jaguar Cars for Chester Zoo, very big sponsorship is difficult to achieve, although it can be a useful part of an overall funding mix. This article may be of interest: 10_steps1.pdf
5. Legacy giving. This is still overlooked as a major source of zoo funding, and of course, you cannot very well timescale the funing received. There are however multiple instances of zoo sites being dramatically boosted by large bequests. These do not neccessarily have to be entirely down to pure luck! See earlier post http://zoofunding.wordpress.com/2007/04/09/zoo-finance-and-legacies/
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