Categorizing Friends in CRM

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Yale is wondering how others track non-alumni individuals (ie friends) in CRM. We currently use a general Friends constituency, but we are seeing a need to different types of friends who might be affiliated with a specific school/unit and not necessarily the University. This tracking could be not just for solicitable folks, but individuals interested in activities or events for a specific school/unit. We could use more constituency types or go the attribute route or something custom and thought we'd see how others handle. Any pros/cons to the coding you went with would be helpful too. Thanks in advance.

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