Just because a capital campaign brings in a lot of money doesn't mean you should actually start one. So, how do you know if you are ready to take on such a large fundraising endeavor? There are a few key questions that can help you answer whether your organization is ready or not. We've shared five of those questions below. Make sure you carefully and honestly answer all of these questions before launching your campaign.

Why Are We Starting a Capital Campaign?

The first step toward executing a successful campaign is setting up what you hope to accomplish through it. If you can't explain how your campaign will help your organization, it will be hard to get support from staff, volunteers, and donors. Before you kick off your campaign, pause and ask such questions as: 

• Is there a compelling case for support of your campaign?
• How will a successful capital campaign affect your organization? What 
  will happen if the campaign fails?
• How will the world change as a result of the capital campaign?  
• Is it important for you to maintain annual support – or even grow it – 
  during the campaign?

After establishing your reasons for starting a large-scale fundraising effort, it's time to move on to the next question.

How Much Do We Really Need?

Don't choose this number without solid research. You need to do your homework before you can develop a realistic and practical budget. You don’t need to give every last detail to your donors, but you should give them the information they need in order to feel confident that you’ve carefully considered where their donations will go and what they’ll help you achieve. If you need, this article dives even more into major gifts and donor strategy.

When determining the amount you need, don’t leave out such items as possible additional staffing needs, fundraising costs, and inflation. A feasibility study may be needed in order to determine if your goal is actually achievable. 

Can We Identify Supporters?

You need to  identify probable major donors right off the bat. These donors should cover a large portion (50-75%) of your campaign. Determine where your potential top gifts will come from and if you have a donor base that can actually handle this type of fundraising plus (this is important) continued annual support.

You’ll also want to know if the campaign is compelling to donors, if they would support it, and if so, at what levels. Just as for the question above, this is where a feasibility study could be a useful tool. Long-time donors may be happy to contribute if they haven’t maxed out their ability or willingness to give. First-time donors shouldn’t be treated as one-time donors—your goal should be to convert them into ongoing partners. Asking a wealthy donor to shell out just this once may sabotage your long-term relationship.

Examining these items pre-campaign will allow you to enter the quiet phase of fundraising with the confidence to shoot for the stars.

Are We In Agreement?

Get staff and board aligned on your nonprofit's fundraising priorities. Internal alignment can make or break a campaign. Without the support of your staff and board, the campaign won't happen. Making sure that everyone is on board with the goals and that they’re excited about boosting the organization's fundraising is extremely important.

An aside: Mapping out your general timeline is also important, but you don’t want to set an exact end date just yet. Stating an exact end date should wait until you’re entering the campaign’s public phase.

Can We Commit?

To be completely honest, a capital campaign is a ton of work. It takes planning, dedication, and a significant financial investment. So ask yourself: Do we have the right people on the staff and board to pull off this colossal effort? Do we have the budget for travel, mail appeals, collateral materials, and general campaign infrastructure? Will we have the stamina to do extra major gifts fundraising, execute additional marketing and communications, and lead a volunteer committee? 

Making sure your team and your organization are ready to take on the responsibilities of a capital campaign will ultimately set you up to reap the rewards of said campaign.

Conclusion

A capital campaign doesn’t run itself. But if you’re ready to put in serious time and serious energy, a campaign can have a serious payoff. That is, if you can answer the five questions above with confidence and conviction. Learn more about how to launch a highly lucrative capital campaign through this comprehensive article. Cheers to a successful campaign!