Whether you want to raise money for a new, bigger building, to fund travel for volunteers, to purchase supplies, etc. Capital campaigns are essential to keep your nonprofit running and to keep money coming in for the causes that you are supporting.
If you haven’t put together a formal capital campaign before, it may seem like a daunting task. However, a detailed, written plan is important when soliciting donors and partners to get onboard and support your mission.
Here are some things to keep in mind:
- Figure out who will be involved in the capital campaign and the overall project so that you know how to delegate tasks and who to refer people to who have questions or want to be involved. This is your support group, so make sure they are onboard!
- Determine your goals and deadlines: This is where you will explain what your capital campaign is, why you are embarking on it, what your goals and objectives are, and when you hope to reach certain benchmarks. This showcases to potential donors that you have an action plan in place, and it clearly lays out your gameplan.
- Lay out what you need: Tell your donors exactly how much you need in order to reach your goals. You don’t want to keep this vague or arbitrary. Instead, lay out the amount you will need for each phase of the campaign so prospects can see where donations will go.
- Explain the “why”: This is where you can tell your story. Why is this capital campaign important? What will the benefits be? Why should donors support this project? Explaining impact will inspire action when people feel like they have a case to support you.
- Develop giving levels: Rather than asking for donations, set specific giving levels that donors can choose from. This will take the guesswork out of it for donors and increase how much money you are bringing in from each donor.
- Explain your donor recognition plan: When donating to a capital campaign, your donors will want to experience some form of recognition. Make sure that your donors know how they will be recognized, whether it’s a plaque on the wall of your new building or a bio in your next organizational newsletter.
- Establish a communication plan: Now it’s time to distribute the information! Figure out the channels you will disseminate your capital campaign on, the messaging you will use and the contacts you will send it to, as well as the frequency.
A capital campaign is a big undertaking, but with a plan in place you can feel confident that your fundraiser will get off the ground and you will be on your way to meeting your fundraising goals.