Is your nonprofit ready for a capital campaign?

A capital campaign can help your not-for-profit turn an ambitious vision into reality, but the size of the undertaking may cause hesitation. Fortunately, these campaigns aren’t only for large organizations and don’t necessarily undermine annual giving. With careful planning and effective leadership, your nonprofit can position its campaign for success.

Build a leadership team for the long haul

Capital campaigns are multi-year efforts. But their specific duration can vary considerably depending on an organization’s size, sector and campaign scope. To carry out yours, you’ll need a champion with vision and stamina. Consider board members or leaders in your broader community with:

• A fundraising track record,
• Knowledge of your nonprofit’s mission,
• Familiarity with how current issues affect your organization’s work,
• The ability to motivate others, and
• Time to manage projects and attend meetings and fundraising events.

Your leader will need a strong team to achieve the capital campaign’s goals. Volunteers, board members and staffers may be needed to raise funds through direct mail, email, personal solicitations and special events. If you need more help, look to like-minded community groups and clients who’ve benefited from your services.

Create momentum before going public

Traditional fundraising wisdom holds that you shouldn’t go public with your campaign until you’ve secured significant “lead gifts” from major donors. It’s generally easier to solicit smaller gifts from a broader group of supporters after you’ve already landed several large gifts. Current guidance suggests raising roughly 50% to 60% of the campaign goal during the quiet phase before a public launch. However, the appropriate percentage can vary based on the concentration and capacity of your donor base.

To secure these initial gifts, develop a broad pool of prospective donors based on factors such as their connection to your mission, giving history and potential capacity. Draw your list from past donors and event attendees, local business owners, board members, volunteers and other likely prospects. Then identify and prioritize your strongest major-gift prospects for cultivation and personal conversations before expanding your outreach to the broader prospect pool.

Make the case for impact

Pay particular attention to how you craft your message. Make sure your financial goal is achievable and that your plan for spending the funds raised can capture supporters’ imagination.

Potential donors must see your organization as strong and capable of innovating and thriving well into the future. However, they also need to know that your nonprofit is the same steady group they’ve championed for years. Instead of focusing on what donations will do for your organization, show potential donors the impact on their community. Keep supporters informed about campaign milestones, track your progress toward your goal and communicate how campaign gifts advance the intended projects or programs.

Test the numbers before committing

A successful capital campaign requires more than enthusiasm for a big idea. Before moving forward, your organization needs to understand whether your goal is financially realistic. Also consider how campaign commitments may affect cash flow and operations, and whether you’ll have the resources to support the effort over time. Contact us to discuss the financial considerations of a proposed capital campaign and for help determining whether the numbers support your plans.

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Strengthen Your Nonprofit’s Financial Planning with WCS

A successful capital campaign requires more than a compelling mission and strong donor support. Nonprofit organizations also need sound financial planning to determine whether campaign goals are realistic, understand the potential impact on cash flow and operations, and ensure they have the resources to support their plans over time.

WCS brings more than 40 years of experience working with nonprofit organizations and understanding their unique financial and compliance needs. Our team provides financial planning, budgeting, performance measurement recommendations, Client Advisory Services, Audit & Assurance, and tax services to help nonprofits strengthen their financial processes and make informed decisions. We are a non profit CPA in Baltimore and we work with a variety of tax-exempt organizations, including private and charter schools, churches, environmental organizations, animal shelters, labor unions, and other organizations recognized under Section 501(c) of the Internal Revenue Code.

Learn more about WCS’s nonprofit services and how our experienced professionals can help strengthen your organization’s financial planning and stewardship. Contact WCS today to discuss your nonprofit’s needs.