The Best Time to Launch Your Campaign
One of the most common types of questions we receive is, ‘when is the right time to start the Capital Campaign process?’ To quickly assess your organization’s Campaign readiness, we are sharing some of the key elements to set the stage for a successful campaign. Not able to check the box off on these items? You may want to adjust the launch of your campaign to allow enough time to enhance these key components thus ensuring the path to campaign success.
Board and Organization Leadership
The leadership and overall governance of the organization are one of the primary factors to consider when you are considering launching your campaign. A strong board and organization leadership signals their commitment and endorsement of the cause with their philanthropic investment in their personal and professional circles.
Organization Confidence & Impact
A critical element of future campaign success is a strong history of organizational impact on the communities and the constituents that they serve. This requires ongoing transparent reports and accountability to overcome barriers to success when strategies do not go to plan. These characteristics will assure the funder’s confidence and the ability of the organization to meet the campaign objective.
Alignment with Organization’s Mandate & Strategic Plan
It is important to consider if your investment in your project opportunity aligns with your organization’s mandate and strategic plans. In addition to direct costs, new opportunities have indirect implications on staff, infrastructure, and ultimately sustainability.
History of Fundraising Success & Qualified Prospect Pipeline
Ideally your organization has a loyal core group of donors, partners, sponsors or government to support your efforts. These donors are often the first to step up to provide support to capital or comprehensive campaign initiatives. If you are a new organization, it is crucial to identify and develop relationships with potential funders that have an affinity for your cause and key sources of funding as soon as possible for early relationship cultivation.
Cash Flow & Funder Timeline
Understanding your cash flow is essential to your campaign’s success. For some grantors, businesses, and donors, funding decisions align with their financial planning processes. Understanding the flow of cash payments into the organization is crucial to meet key funding timelines for major campaigns and capital projects
Administrative Structure & Support
Having the proper administrative support ensures the retention of talent and focuses them on revenue generating activities in support of the campaign. Additionally, meeting the required elements to run an efficient business while maintaining a strong return on investment.
Diversified Sources of Funding
Depending on the scope and the size of the campaign, it is important to consider diversified sources of funding rather than single-source funding. Are there alternate sources of funding (i.e., natural disaster funding, changes in government, social financing, pandemic, etc.) that could make up for the funding from individual donors, foundations, and businesses? Diverse funding sources mitigate any potential risk to reaching your campaign goal and ensure other funders’ confidence.
If you can confidently check each of these campaign financial elements, then you are ready for your next stage of campaign development. Missing some elements that are listed above? Consider stepping back to focus on enhancing that element to ensure you are on the path to Campaign success.
Your professional fundraising consultants will help to guide you through these elements to prepare you to begin your campaign process. For more information on planning for and managing your campaign, contact The Dennis Group Inc.
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