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Follow on Google News | Feasibility Studies for FundraisingWert-Berater, Inc. is a leading provider of feasibility studies and has extensive experience orking with the USDA. Please visit our website at www.wert-berater.com or call 888.661.4449 for more information.
By: Wert-Berater, Inc. A fundraising feasibility study is a tool used by organizations to determine if their proposed capital fundraising campaign has those ingredients and a good chance of success. The feasibility study should identify how much money an organization can reasonably raise, how long it should take to do it, and what costs would be involved in managing the campaign. A good study will also identify potential leaders and donors, strengths and weaknesses of the campaign, and include recommendations on how the campaign should be conducted. Increasingly fundraisers are suggesting that organizations think of and title their feasibility study as a capital campaign planning study since it will ultimately contribute to the strategy for marshalling the funding and volunteer resources needed to complete the capital campaign. A credible capital campaign feasibility/ Is conducted by an experienced, objective outside consultant; Consists of a series of confidential interviews with the organization's board and staff, key supporters and prospective major donors about their interest, willingness and capacity to support the campaign and identify and solicit other donor prospects; and Integrates all findings into a candid, honest and confidential assessment of strengths and weaknesses and a prognosis for success or inability to successfully reach the campaign goal. Through a competent, objective feasibility/ Essential ingredients for a successful capital campaign are: An urgent, compelling case for support; A clear justification of the organization's needs; Sufficient donor and volunteer prospects within the organization's constituencies; Effective and inspirational leaders; Adequate resources to carry out the campaign, such as staff, funds, facilities and technology; and A strategy for implementation Is a Feasibility/ Partnership Construction Process approvals will involve a credible determination of ability to assemble the funds to accomplish the project. Some Partnership Construction Process projects may be funded through a small number of fund or grant sources without a capital campaign. The need for a full-fledged feasibility/ Size of Campaign - NPS policy requires a feasibility study for campaigns over $1 million. Number of Fund Sources - If the project will be funded from 10-20 single sources, a feasibility/ Funding Source Mix - lead donors, major donors, private foundations, and public phase = yes If most of the funds are from public grant sources, they won't involve a capital campaign. Multi-Phase Campaign - Will all levels of anticipated donor source respond favorably? Prior Track Record - Partners with prior successes can more reliably predict success than first timers. The rationale for not conducting a feasibility/ The broader and more important purpose of a feasibility/ Test basic planning assumptions with potential donors. Find out how potential contributors feel about your organization and your organization's project and fundraising needs. Can you justify those needs and build a strong enough case to motivate donors to invest in your organization? Build ownership with potential contributors. Disseminate early information about your organization's plans and ask board members and potential lead and major donors for their advice before decisions are made. Build their sense of ownership for your campaign, which usually results in larger gifts. Ascertain potential support. By asking those interviewed if they are likely to contribute and at what levels, experienced consultants can estimate the potential giving at the crucial early lead and major levels of the your campaign. This knowledge, plus information about board giving and other factors, provides the basis for estimating total campaign potential for success. You can determine if you have enough donor prospects in your constituency and enough prospects at different giving levels. Identify volunteer leadership potential. Interview potential campaign leaders and others to provide information on your organization's potential to recruit and motivate influential and committed volunteers. Identify board leadership and their fundraising capabilities. Assess what it will take to create available volunteer leadership and ask if your organization has enough volunteers to help build fundraising teams. This knowledge is critical. Board members and effective volunteers are the single most important factors in the success of most fundraising campaigns. Keep in mind that fundraising gets bogged down not because of a lack of prospects, but because of lack of volunteers. Determine campaign strategies. The information gathered helps determine the strengths and weaknesses of your organization regarding its readiness to conduct a campaign and to develop successful strategies and plans. Develop plans for soliciting individual prospects. Information developed in the interviews helps ensure the successful solicitation of individual donor prospects. While the interviews are confidential, it is possible to honor that confidentiality and still help your organization develop an appropriate solicitation plan and giving level. Advantages of a Feasibility/ all of which will affect the campaign but over which the organization has no control. Portions of this text were adapted from: What Volunteers Should Know For Successful Fund Raising by Maurice G. Gurin and John C. Whaley, Whaley LeVay, Inc. March 30 & 31, 1999, Friends Alliance Capital Campaign Workshop. Preparation For Success: The Planning Study by Frank S. Pisch, The Compass Group, October 6, Friends Alliance Meeting at Gettysburg NHP. # # # Wert-Berater, Inc. is a leading provider of feasibility and technical assistance for a variety of industries. Please view our website at http://www.wert- End
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