Good morning. I am Lawrence Pierce-Durance and I have been doing a series of short videos on fundraising. My focus has been on small to medium size nonprofits where I have spent most of my career.
Today’s attention is on Campaign Feasibility Studies – What They Are and How To Use Them.
The heart of a feasibility study is conducting 25 to 100 confidential interviews amongst major gift prospects and other stakeholders of your organization.
These studies are expensive (from $10,000 upwards to $50,000+) so learn as much as you can as to what you can expect from a study and what not.
In planning a major campaign at your organization do you always need to have a feasibility study?
Lawrence says no. If your organization has a sound track record of recent campaigns; a viable case for support; and strong leadership, a feasibility study may not be necessary.
But for many organizations this is not the case. So what does a feasibility study do? Lawrence Pierce Durance PD Solutions Inc indicated it seeks candid insights from the interviewees in these four areas:
1. Your case for support for the proposed campaign - is it clear, concise and compelling.
2. Your Board and other volunteer and staff leadership – is this group capable of truly leading the campaign.
Lawrence indicated that it is in this area of leadership why it is important to have an outside person or organization conduct the study.
Interviewees are often in a difficult position to comment here if someone from inside the organization is conducting the interviews.
3. Sources of support – are there enough prospects at high enough potential gifts to help ensure campaign success.
Lawrence Pierce-Durance Fundraising Consultant said gift range charts are often used in the interviews to focus attention on sources of support. The chart indicates what typically might be need in terms of the levels of gifts and number of gifts. Interviewees often have their own sights lifted.
4. How is your organization perceived in the community and what is the fundraising climate like in the community?
The feasibility study report should focus on the four areas mentioned above and indicate for each the findings, conclusions and recommendations.
Typically, the report is presented to the Board in person by the person who conducted the study. The Board may accept, reject or ask for more information on the report.
Lawrence believes the critical piece in the report is the recommendations. That is what you are really paying for in using an outsider. If they are any issues, your organization wants them pointed out AND recommendations how to fix!
They are two distinct types of feasibility studies.
Lawrence Pierce-Durance said the first is where your organization has its case in order and the feasibility studies is basically and exercise to alert and cultivate your major stakeholders. And unless there is a really major unexpected issue that arises, the campaign going forth is a done deal.
The second type of study is truly testing the “feasibility” of going forth with a campaign. The Board is hesitant to make such a decision until it confirms in amongst its potential supporters that the case is on point; the dollar goals are reasonable (albeit typically a stretch); the leadership is strong; the organization is respected in the community; and the timing for the campaign is good.
Lawrence said which type of study is best for your organization is best decided at Board level and is an early step in preparing for a campaign.
At the same time, an initial draft of the case should be reviewed by the Board.
This has been a simple overview of campaign feasibility studies to hopefully help you get started in your thinking.
If you wish to discuss any of this presentation as it relates to your organization’s situation, you may contact Lawrence through his website “Lawrence Durance PD Solutions”.
There will be no charge and anything discussed will be confidential.
Finally, other videos particularly on major gift fundraising for medium size organizations may be found on YouTube by searching Lawrence Pierce-Durance.
The following article Lawrence Pierce-Durance Campaign Feasibility Study What They Are and How to Use Them is courtesy of: Lawrence Pierce Durance Blog
source http://lawrencedurance.com/lawrence-pierce-durance-campaign-feasibility-study-what-they-are-and-how-to-use-them/
