Uncover Strengths and Weaknesses
A professionally designed feasibility study is an essential part of any successful capital campaign effort. A well-conducted study increases the chances for a successful campaign and will almost always result in more money being raised – studies show a 92% success rate for campaigns preceded by feasibility studies.
While the main objective of a feasibility study is simply to judge the amount and size of gifts that could be raised from your donor base, the study also provides additional important and helpful outputs as well. A well-executed feasibility study will:
- Determine overall financial goals and potential for support.
- Audit and Assess for strengths and weaknesses in the impending capital campaign.
- Test campaign goals and strategy with potential donors.
- Build early community around plans.
- Identify key volunteer leadership.
- Develop plans for soliciting individual prospects.
We conduct feasibility studies to determine the extent to which a campaign is feasible for your project, not whether a campaign should be done at all. Campaigns are always feasible. It’s the inspiration of the campaign case and the financial targets of a campaign that is to be uncovered. Our studies always include a thorough audit and assessment of all prospects by taking a closer look inside your base for the capacity to raise the necessary funds, fund performance records, mission achievements, vision and case for support, board member engagement and staffing capabilities, and healthy data hygiene. Typically, the Feasibility Study consists of:
- Review of Internal Capabilities
- Database Management
- Policy and Procedures
- Historical Philanthropic Giving Indicators
- Review and assistance in developing a test Case for Support
- Board Governance and Leadership capacity assessment
- Environment study of outside influences (economy, competition, etc)
- External Assessment of Attitudes, Perceptions and Beliefs on your Campaign Case through:
- 1-on-1 interviews with Key Stakeholders
- Electronic Survey
- Focus Groups
Advantages of a Feasibility Study
An organization that is properly prepared for a campaign through a Feasibility Study, attracts better volunteers and larger lead gifts. This, ultimately, will lead to raising more money. A good study will help an organization set the highest attainable goal and develop the best strategies to achieve that goal. A study lowers the risk of missing a campaign goal and ending a campaign with frustrated board members and donors. Knowing where the pitfalls are before launching the fundraising effort is crucial to avoiding them. Entering a campaign blindly usually results in discovering problems at a time when they seriously threaten the campaign’s success.
An often common denominator for unsuccessful campaigns is that they were launched without a proper feasibility or planning study. There are no 100% guarantees, but studies show a 92% success rate for campaigns preceded by feasibility/planning studies.
To learn more about our services and how we can help your nonprofit needs, schedule a discussion with one of our experts today!