At its heart, a capital campaign is a targeted fundraising effort that aims to raise large amounts of funds for a specific project or purpose. You set a period of time, a goal amount, and a purpose for the fundraiser. It\u2019s incredibly common to use a capital campaign for physical spaces, whether that\u2019s building a new building or renovating an old one, but you can also use them for equipment, starting up a new program, or to meet any one-time need in your organization. Generally you\u2019ll be running your campaign for somewhere between six months and a year to raise the funds you need.<\/p>\n\n\n\n
Unlike many fundraising projects, a capital campaign is unique because it cuts across departments and areas: you\u2019ll want to put together a committee of people who are expressly committed to working on the campaign. It will include staff members, board members, and ideally some excited volunteers who will help make calls to prospective donors. You may also hire a consultant.<\/p>\n\n\n\n
Benefits of Capital Campaigns<\/h2>\n\n\n\n
With all that in mind, what\u2019s the benefit of a capital campaign? Why would you want to set aside a long chunk of time to fundraise in a way that\u2019s outside of your typical structures? The main reason to use a capital campaign is if you have a specific need for a large amount of income in a specific time. It\u2019s often the only way you can do something like purchase a new building or expand your organization in an important way.<\/p>\n\n\n\n
Of course there are other benefits to running a capital campaign: you\u2019re likely to get many new donors<\/a> and new major donors<\/a>. People are likely to give more than usual because they can see exactly where their gift is going and feel a tangible impact. You\u2019re also likely to get increased volunteer involvement: a capital campaign is a time specific ask with clear roles for volunteers. That\u2019s a great way to get new people involved more deeply with your organization.<\/p>\n\n\n\n So now that you\u2019re on board to run a capital campaign, how do you actually do it?<\/p>\n\n\n\n As with most fundraising, the first step of any capital campaign is the planning stage. Depending on how in-depth you want to get at this point, it can include any or all of the following:<\/p>\n\n\n\n Once you have the basic plan in place, it\u2019s time to conduct what\u2019s called a feasibility study or assessment. This is where things start to get real: your feasibility study is where you find out if your organization is ready to run this campaign and if you have the support to be successful. You\u2019ll want to put together a list of questions to help you determine if your community is on board, and then interview all the stakeholders. That includes:<\/p>\n\n\n\n So what kind of questions do you ask these stakeholders to figure out if this capital campaign thing is right for you? Here are some examples to get you started, but any questions that ask about your organization\u2019s reputation, the specific project you\u2019re looking to fund, and how the community will respond to the project are good.<\/p>\n\n\n\n Once you\u2019ve finished your feasibility study, you may end up adjusting your plans slightly. Maybe you want to decrease or increase your goal, change your timeline, or spruce up your communications. And then it\u2019s time for the scary part: actually doing the dang thing!<\/p>\n\n\n\n Generally a capital campaign happens in two parts: a silent phase and a public phase. Let\u2019s take a look at each one.<\/p>\n\n\n\n The first portion of your capital campaign is what\u2019s called the Silent Phase or the Quiet Phase. This is where you spend your time raising funds through major gifts<\/a>: you won\u2019t be sending out solicitations to your larger donor lists. Instead, you\u2019re going to focus on finding the right people who can make significant donations. What you might not expect about this phase is that it\u2019s actually going to bring in the majority of the money: you\u2019re looking to raise somewhere between 50 and 70% of your total goal.<\/p>\n\n\n\n A lot of the work here will be in personalized<\/a> phone calls and meetings with people you identified early in the process. These are people who care about your organization and who have the ability to make a major gift. One of your best bets is to target people who have made major gifts<\/a> before. Of course not all of this work happens offline: there are still some great ways to make use of your online platforms<\/a>. Setting up a beautiful donation page, a strong \u201cAbout\u201d section<\/a> on your website, and an easy to complete donation form will not only help with your major donors, it will also serve you well when you move into the more public phase of your campaign.<\/p>\n\n\n\n What qualifies a good <\/a>major donor<\/a>? For starters, it\u2019s someone who is already giving to you. This shows that they believe in what you\u2019re doing and think it\u2019s worth their money. Another good major donor qualification is that they\u2019re willing to sit down and discuss going above and beyond their current gift level. Again, if they\u2019re giving you their time and attention, you mean something to them.<\/p>\n\n\n\n It\u2019s good to remember that most prospects know that when you call for a meeting, that it\u2019s likely about money. If it\u2019s on your radar, it may be on theirs as well.<\/p>\n\n\n\n Other ways to qualify a major donor include:<\/p>\n\n\n\n Whatever you do, don\u2019t assume that someone who gives to other organizations or who has the financial capacity is automatically going to throw you $10,000. Major donor cultivation requires a relationship built over time.<\/p>\n\n\n\n One way to make this section of your campaign successful is to have a clear set of goals when you start: how many donations at each level do you need to reach your set amount? If you need 5 donations of $10,000, you can let your potential donors know that you\u2019re asking for that amount because it\u2019s a necessity. Asking for a specific amount <\/a>is a great strategy: it lets the donor know what you need.<\/p>\n\n\n\n Another important thing to remember is that sometimes a past donor may be ready to increase their gift and start giving more<\/a>. Take a look at the donor data<\/a> you have and see who gives consistently or who has increased their donations over time. These mid-level donors may be ready for cultivation into a major donor.<\/p>\n\n\n\n Finally, this is a great stage to reach out to organizations who may be interested in supporting your capital campaign. You can take the strategies you\u2019d use to solicit sponsors<\/a> for an event and apply to them to your campaign. Don\u2019t forget that their employees<\/a> are a great resource as well, whether as a source of gifts, potential volunteers, or as a way to reach new companies. <\/p>\n\n\n\n During your planning, you\u2019ll want to set a specific timeline for your silent phase, as well as a specific goal. Once you hit the end of it, it\u2019s time to go public!<\/p>\n\n\n\n The public phase of your capital campaign will be the portion that feels the most familiar: it will look a lot like any fundraising campaign that you share with your general donors and audience! <\/p>\n\n\n\n Now that you have a solid foundation for your campaign from the silent phase, you\u2019ll start communicating with your whole community and reach your final goal. This can include quite a few different types of donations and fundraising, and you\u2019ll want to think about each to decide what will work the best for your capital campaign:<\/p>\n\n\n\n As you consider how you plan to share your capital campaign and what types of fundraising you\u2019re going to use, it\u2019s essential to choose a solid platform<\/a>. You want to offer donors one central location they can learn more about your campaign, give a gift, or create a fundraising page if you are running a peer-to-peer campaign. CauseVox has all of these features as well as a pledge donation option, and the ability to add a donation form directly into your website.\u00a0<\/p>\n\n\n\n Now that you know the basic steps to run your capital campaign, it\u2019s time to fine-tune. You\u2019re a fundraiser and you know the best practices in your day to day life, but what are the tips and tricks that are specific to a capital campaign that can bring you big success? We have six major things to keep in mind when you\u2019re running your capital campaign.<\/p>\n\n\n\n 1. Hire a consultant.<\/strong><\/p>\n\n\n\n While it\u2019s certainly possible to run a capital campaign without hiring a consultant, there\u2019s a reason they\u2019re so popular. A capital campaign is a big undertaking and most organizations will not run them often. That means most of your staff don\u2019t have any experience with this type of campaign. A consultant is someone who has run plenty of capital campaigns and can help guide you through the process<\/p>\n\n\n\n 2. Use your board.<\/strong><\/p>\n\n\n\n Your board is a strong resource during your capital campaign, and it\u2019s a good idea to involve them early and keep them close to the process all the way through. Whether they get involved by donating, reaching out to their connections, or by volunteering, they can be a wonderful asset.<\/p>\n\n\n\n 3. Focus on your story and case for support.<\/strong><\/p>\n\n\n\n Capital campaigns are unique in that they have one specific project and all the funds you raise will go towards that project. When you build your communications, you want to center that project. You can start by creating a case for support. Generally this includes your organization\u2019s history, mission, and vision as well as a description of the project and explanation of why the project is needed. From your case for support, you can build the stories that you\u2019ll use in your communications. In addition to the nitty gritty information about the project, you want to center emotional and personal stories that show what the impact of the project will be.<\/p>\n\n\n\nSteps to Running a Capital Campaign<\/h2>\n\n\n\n
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The Silent Phase of Your Capital Campaign<\/h2>\n\n\n\n
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The Public Phase of Your Capital Campaign<\/h2>\n\n\n\n
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<\/figure>\n\n\n\nBest Practices for Capital Campaigns<\/h2>\n\n\n\n