Nearly every nonprofit should embark on a capital campaign at least once every ten years. If your organization hasn’t had a campaign in the last decade, it’s time to start planning one today.
You know the expression:
If you’re not growing, you’re dying.
It’s a cliché, but it’s also true. If you haven’t accomplished your mission, it’s likely you need to grow.
3 Reasons to Start a Capital Campaign Right Now
Capital campaigns are the ultimate fundraising vehicle and the most cost-effective way to raise money. Here are three reasons to start planning a capital campaign.
1. To provide next-level programs and services.
If your organization has a big vision and an important mission, it’s likely you’re not providing as much value as you could or should. Capital campaigns catapult organizations to the next level.
2. To start raising major gifts in a bigger way.
There’s no better way to raise major gifts than through a capital campaign. That’s because capital campaigns are major gifts efforts on steroids. Capital campaigns provide a framework for a tried-and-true strategy, a specific plan, and they add the pressure of time to ensure things get done.
3. To build capacity throughout your organization.
A capital campaign provides an opportunity to hire additional fundraising staff, which you should be able to keep following a successful campaign. In addition to staff, you will build the entire fundraising infrastructure including things like marketing, staff training, fundraising systems, and more.
What if you don’t have an established major gift program?
While it’s ideal to start a campaign with an established major gift program, a campaign is often the catalyst that’s needed to kick off a major gift program. Remember, a campaign is a major gift program on steroids.
And, if you haven’t already successfully raised major gifts, it’s going to take something big to get your organization’s leaders in gear. There’s nothing like a campaign to light a fire under the most reluctant staff and volunteers.
How to Start a Capital Campaign
So, how do you get started with a capital campaign? You’ll need to do three things.
1. Create a strategic plan with a big vision.
If you don’t have a strategic plan for your organization, that’s the first step. Once you get everyone in agreement about the future, you’re one step closer to planning a campaign.
2. Put together a core committee.
A core committee of a few key leaders will help determine the next steps. This committee is a small group (usually 4-6 people) who drive your project and your campaign. Its members must be fully committed to advancing your campaign.
3. Do some pre-campaign planning.
There’s lots of planning that needs to happen before you’re ready to raise money. You’ll want to consider a feasibility study (AKA pre-campaign planning study) which will tell you how to proceed with a campaign (not whether you can do one).
DON’T WING IT!
One thing I feel strongly about is that you do not wing it. Through my work at Capital Campaign Toolkit, I’ve seen enough horror stories of folks who tried to figure it out on their own. There are tried-and-true methods for conducting a capital campaign, and you shouldn’t be making it up on the fly when it comes to raising more money than you ever thought possible.
- Do your research.
- Hire help.
The return on your investment should be huge, but you do need to invest in the process.
Free Capital Campaign Resources
I normally write about raising major gifts. And a great way to learn to raise major gifts is with the structure, strategy, and time pressure of a capital campaign.
If you want a variety of free campaign resources, we have them over at the Capital Campaign Toolkit. My team of campaign experts is available to help you get started. So give us poke when you’re ready to talk.
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