Have you ever wondered if you should conduct a feasibility study for a Capital Campaign?
Oftentimes, I have heard non-profit groups saying, “Let’s just start the campaign!”
And, if you are a small nonprofit, I would urge against by-passing this important step.
There is a lot more that you will find out above and beyond the question of, “can we raise the money?”
Here are some benefits of conducting a feasibility study:
Gaining internal consensus.
Board members begin thinking of their own commitments.
The urgency of the case for support is validated.
Top 10 prospects for the campaign are qualified.
High cultivation value.
Donors are asked for advice.
The fundraising acumen of leaders and staff is tested.
Development office readiness is assessed.
Image in the community is confirmed.
The “feasibility” of the campaign goal is tested.
The best sources for campaign leadership are confirmed.
Timing for the campaign is indicated.
Other important discoveries.
These are some objectives and deliverables that you should expect of a feasibility study:
Description of the process used to conduct the study.
Explanation of the purpose of each questions asked of interview participants.
Statistical report of participant’s responses by constituent category.
Narrative analysis of each finding.
A report of strengths that can enhance the opportunity for success.
A report of challenges that should be addressed.
Recommendations for the next steps in achieving the recommended campaign goal.
A gift table demonstrating the gifts necessary for achieving the tested goal.
A gift table demonstrating the gifts necessary for achieving the recommended goal.
Suggested top donors and campaign leaders (confidential data presented to key leadership).
So, if you have been wondering, should we conduct a feasibility study, the answer is most cases, is YES!
A feasibility study tells you much more than “can you raise the money!” It also tells you, how much you can raise, in what time frame, and who will support you. Not only that, but, it helps to develop campaign leadership and cultivate your top donors in the process.
Why start your campaign off on the wrong foot.
Get a head start on the rest, conduct a feasibility study!