What to Expect When Planning a Capital Campaign
Congratulations! Your organization has made a transformative decision to embark on a capital campaign. What comes next? There are five very basic steps to plan for if you’d like your capital campaign to be successful.
Before You Begin a Capital Campaign
Before you launch a campaign is the time to give yourself a check-up. Use this time to understand the current pulse of your organization and what might need to be addressed before you embark on the capital campaign journey.
Step One: Pre-Campaign Planning
Staff and volunteer leaders should seriously evaluate their commitment to a campaign – as opposed to their commitment to a new building or equipment. You will start to discuss as a group the processes and the work involved in conducting a successful capital campaign. This pre-campaign planning step should include a careful internal evaluation of your organization’s needs, discussion of whether or not campaign counsel is needed, and an honest appraisal as to whether the organization is ready for such a major undertaking.
Capital campaigns require strong leadership to succeed. If your nonprofit is considering a capital campaign, think about how your board will enhance your fundraising capacity. Ask yourself these questions: Are all board members current donors? Are board members involved in the identification, cultivation and solicitation process? Can board members open doors? Read more about these considerations.
It is also important to discuss with your board and staff a variety of issues to insure that, in the least, the internal leaders fully understand other internal leaders' ideas and opinions. From this open discussion, consensus can be reached. Here is a series of questions to discuss with your board and staff leaders.
Stage Two: Campaign Planning Study
The Campaign Planning Study, also called a Feasibility Study, allows an organization to objectively evaluate:
its image in the community.
how its case for fundraising is viewed by leaders and donors.
whether quality leaders are available to help in the campaign.
prospective donors and potential giving levels.
whether proper resources are available to conduct a campaign.
Guided by a capital campaign consultant, a Campaign Planning Study typically takes 12 to 16 weeks and includes the development of a comprehensive fundraising plan. The campaign plan includes lists of prospective donors and leaders, timelines, job descriptions for leaders, commemorative opportunities, an education and public relations plan, a table of gifts and other ingredients necessary to completing a successful campaign.
A thorough Case for Support also is prepared for initial review by the Board of Directors.
Capital Campaign Begins
You’ve completed your pre-planning, and now the fun begins. During this active campaign phase, you’ll need to create your fundraising materials and then get out in the community. Remember, your community and your organization are why you’re doing this project in the first place. As you learn about this stage, keep your ultimate goal in mind.
Stage Three: Campaign Organization
During this stage, you and and a small internal committee typically work with your consultant create the tools necessary for your campaign. These tools may include:
Campaign Name
Fundraising Brochure
Public Relations Efforts
Detailed Corporate and Foundation Research
Stage Four: Solicitation Phases
This stage is the central stage of the process and focuses on the actual cultivation and solicitation of major gift prospects. The majority of this time is spent in quiet fundraising. All the asks are personal and face-to-face. Your committee of solicitors grows as more prospects learn about your vision and your project and are inspired to join in the effort. Additionally, proposals to regional and national foundations and corporations are prepared and submitted. Once 95 percent of the campaign goal is raised during the quiet phases of the campaign, a full public information and public relations plan is implemented to raise the final 5 percent or even exceed your goal. Click here for an ebook on the capital campaign process.
Stage Five: Post-Campaign
This stage is a “catch all” for closing and collecting on outstanding pledges. Effective follow-up and public relations efforts are critical here. All prospects who have been solicited but not returned a pledge form are encouraged to make their decision. Furthermore, the nonprofit’s pledge redemption system (e.g., mailing pledge reminders) should be functioning by this time so multiple-year pledges are actively collected.
Are You Ready?
So, those are the basics. Is your organization is ready for a capital campaign? We’d love to hear about your project. Or contact us to learn about a free capital campaign workshop for you and your board.
Kevin Wallace is president of CampaignCounsel.org, specializing in capital campaign planning and management. Reach him by email or visit www.campaigncounsel.org.
