Your Capital Campaign Starter Guide!
By Elaine Weber Nelson, Consultant
Once upon a time, a capital campaign was a major undertaking that happened occasionally. Today, it may appear that the minute one campaign is over, another begins. Campaigns are terrific methods to engage your donor base, expand your programs, upgrade your space, and generally build excitement for your mission. All good things. Traditionally, campaigns are for building or renovating a space, but endowment campaigns and campaigns for major equipment or initiatives are also possible. Campaigns are also a lot of work – before, during, and after. If your board is considering a campaign, here are a few things to ask yourselves:
· HOW do we fund the upfront costs?
· WHY do we need more . . . space/funds/upgrades?
· WHAT will the actual physical outcome be (if it’s a building)?
· WHO might be interested in supporting the effort?
· WHEN can we add the level of activity into our agendas – personal and organizational?
HOW: You’ll need to engage an architect and a consultant for the feasibility study. You need to have start-up funds – sometimes found through existing donors brought into the project early on.
WHY: Sometimes it’s an outdated facility, or the programs have grown so there’s literally no more room, or sometimes it’s a matter of keeping up with the expectations of donors, the public, clients etc. Whatever the reason, you want your rationale to be clear and focused – prospective donors will want to know the need.
WHAT: Again, clarity is your friend. If the campaign will allow you to serve more folks, expand your offerings, keep staff safe, and make sure your building/renovation design reflects those plans. Donors want to understand what you plan to do and the best way is to show them with architectural drawings of the finished product.
WHO: We like to think of campaigns as a great big community effort to do something good. That’s only partly true. The 80/20 rule applies to campaigns – and lately we’re seeing a shift to closer to 90/10 – meaning that 90% of your funds come from 10% of your donors. This speaks strongly to the need to know your donor base – and develop your relationships ahead of time. You can attract new donors during a campaign, but you’re far more likely to see gifts from those who already know you.
WHEN: Campaigns are a lot of work – about two years from start to finish. Be sure your executive director, board, and key volunteers have the time required. Everyone needs to be committed not just to the outcome, but to the process.
Campaigns can drive new life into an organization and allow you to live your mission more fully. Just remember, they require advance planning, careful management, clear communication, and plenty of focused efforts by all involved.