Is a feasibility study really needed for a nonprofit capital campaign? (Section 3, part of the Q&A series)

Is a feasibility study really needed for a nonprofit capital campaign? (section 3, part of the Q&A series)

By Tom Wilson Major Gifts Guru

Here’s why it is important to do a feasibility study before a campaign and why most fundraising consultants refer to the study process as “philanthropic market research.”

As a follow up to the study process, once the organization has accepted our philanthropic market study report and campaign plan, we suggest inviting all study participants (anyone who has come to a leadership briefing, sent in an engagement survey, or participated in an interview) to come to a report-out session. We suggest offering 2 or 3 optional times to be flexible enough for good attendance. The consultant presents a summary of the report findings. Then the organization announces their plan of action – going forward with a campaign at the recommended goal amount (sometimes modified because of the study report). We use this opportunity to recruit leadership one more time. The reality of a strong, clear campaign plan encourages more people to offer to help.

The report out meetings are effective. Prospective donors are usually pleased to learn the organization listened to them and respected them through the study process.

Several years ago I hired a retired university vice president to do some work on studies with me. Vic was a great fundraiser and had been through 35 years and 4 capital campaigns at a variety of colleges across the county. His campaigns had been successful even though he hadn’t done a philanthropic market study for them. After being involved with the process a couple of times, he felt that a study helps guarantee success and that his colleges could have raised far more money if they had gone through this process. He became a believer.

So, yes, go through a study process to prepare for your upcoming campaign. It forces you to make your case, engagement donors early, find the fundraising volunteers that will ensure success, and put in place the resources needed to win.

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This article is part of the Q&A series. To read the other articles in the series, please click the links below:

• Is a feasibility study really needed for a nonprofit capital campaign? (Section 1, part of the Q&A series)
• Is a feasibility study really needed for a nonprofit capital campaign? (section 2, part of the Q&A series)

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