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Businessman returns to Charleston to lead philanthropic firm
By Holly Fisher
Supplements Editor
Charlie Cole started his job as Corporate DevelopMint’s new chief executive officer just after Labor Day. His first day on the job, he lasted until 3:30 p.m. and then had to go home.
It takes a little time to adjust to sitting at a desk after being retired for two years. But after a couple months on the job, Cole seems to be adjusting just fine.
“I’ve thoroughly enjoyed it,” he said, while sitting in his office, artwork and awards still leaning against the walls, waiting to be hung. “The people here have a high work ethic and are fun to be with. It’s fun again coming to work.”
Since its founding 19 years ago, Corporate DevelopMint’s consultants have worked with dozens of nonprofit organizations on their fundraising techniques and strategies. They assess the feasibility of major fundraising campaigns, help implement those campaigns or assist nonprofits with their planned giving initiatives.
Cole is a perfect fit for the job. He spent 36 years in the banking industry, most recently with Wachovia in Columbia, so he understands what it is like to be approached for a donation and can offer his expertise and advice.
And Cole has volunteered with a number of nonprofit organizations, serving on several boards and committees around the state. At one point, he even hired Corporate DevelopMint to assist with a fundraising campaign and has served on one of the company’s fundraising panel discussions.
“I liked what the company did … and it was time for me to get back to work,” Cole said.
After retiring, Cole and his wife, Joanne, traveled extensively, visiting Hawaii, Italy and spending time at their second home on Sullivan’s Island. Cole also stayed busy with volunteer work, but into his second year of retirement, he rotated off several boards. Rejoining the workforce with Corporate DevelopMint was a good fit, professionally and personally, he said.
Right after joining the company, Cole participated in a strategic planning retreat, which gave him a crash course in the business and its future missions. Cole’s responsibility is to oversee the short- and long-term strategies for the company. He also will focus on the marketing and sales efforts, finances, human resources and service delivery.
The majority of Corporate DevelopMint’s clientele, or 66%, are from health care foundations, while 26% are from nonprofit organizations and 8% of clients are from higher education.
The goal by 2008, Cole said, is to bring more balance to the business: 50% health care foundations, 30% nonprofits and 20% higher education. Also by 2008, the company plans to grow its total revenue 24%.
The three-year strategic plan will be updated each year. “You lose reality when you go too far out,” Cole noted.
Corporate DevelopMint targets clients in the Southeast, mostly from Virginia to Florida, but as the company grows, so will its geographic reach. New clients in Alabama and Ohio are seeking the company’s services, for example.
Cole will have busy days ahead, but he plans to get involved in the Charleston community once he is more settled. A graduate of The Citadel, Cole previously lived in Charleston as a local executive with South Carolina National Bank. At that time, he was involved with the Charleston Metro Chamber of Commerce, Gibbes Museum of Art and Trident United Way.
He continues to serve on the board of The Citadel Foundation. On Nov. 11, Cole received the Alumni of the Year Award from The Citadel School of Business.
Holly Fisher is the supplements editor for the Business Journal. E-mail her at hfisher@charlestonbusiness.com.
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