Capital Campaign Feasibility Study: Benefits & Why It’s Worth It

A capital campaign is on your organization’s horizon, and you, the chief development officer, have been tasked with campaign planning.

You are probably wondering: 

• Is our development operation prepared to tackle a major campaign?
• Do we have volunteers among our board and constituents who will provide leadership for our campaign? And who are they?
• Will our donors understand the need for our proposed project(s)?
• Is our campaign goal achievable?
• What will it take to do all of this successfully in the desired timeframe?

Should You Even Bother With a Feasibility Study? 

This leads us to the key question – should we even bother with a Feasibility Study? 

Many people think: doesn’t a Campaign Feasibility Study just tell us if we can or can’t raise the money? Wouldn’t it be better just to get going and give it a try?

But – in reality, the Study is much more than a go/no go proposition. 

Here’s the true value: the study engages your key constituents in a listening process that helps determine whether your organization is ready to launch a successful capital campaign—and what it will take to get there.

Here’s why it’s absolutely worth the time and investment:

A Feasibility Study gives you three key components that will drive momentum for your campaign: clarity, confidence, and credibility:

A Smart Study Gives You Clarity

A good Feasibility Study doesn’t just test fundraising potential — it gives much more. It will provides the data to inform all the decisions you need to implement in order to organize a successful campaign. 

Your Study, if well-done, will provide a true Campaign Strategy Roadmap for your campaign. The data will reveal: 

• Campaign Goal. The recommended goal or range of goals you can expect to achieve. 
• Timing. The timeline for achieving the recommended goal.
• Staff. Key staffing needs for your development operation and the expected return on your staffing investment. 
• Donor Prospects. What are your potential leads, and what do major donors think? What excites and concerns them, and does your vision align with their values?
• Specific Strategies. Informs what fundraising strategies and approaches will work best for your campaign.
• Messaging. What messaging resonates — and what doesn’t with your potential major donors – so your case is compelling, clear, and donor-focused?

 A Smart Study Builds Confidence

We all know that capital campaigns are quite risky. You do NOT want to fail or drag it out.

Many people understand that a Feasibility Study will mitigate the risk inherent in a campaign, because it allows you to move forward with increased levels of confidence.  As one of our consultants states: “you want high reward and low risk.”  

A Feasibility Study helps to reduce risk by giving you a heads-up on any red flags — internal capacity, timing issues, donor hesitations — before you invest heavily in the campaign.

Absolutely – you never want to gamble by launching a campaign that could fall short. 

Furthermore, gaining a clear sense of whether your community of supporters can and will fund your campaign offers you the confidence needed to move forward. 

How? Because you are getting feedback and insights directly from your potential supporters, 

• You learn whether your goal is too low, too high, or just right — based on actual donor feedback and giving potential.
• The Study helps to identify potential major gift prospects
• The Study helps surface those who may be ready to make leadership gifts.
• You also spot potential campaign chairs, committee members, or influencers who can drive momentum.

A Smart Study Builds Credibility

Campaign momentum is built on credibility.  In other words, donors must believe that the project is both possible and likely to succeed. 

One powerful way to establish that credibility is through a feasibility study. Because the results are informed by the voices of your own donors, you can be confident that you’re making the right decisions regarding the strategy and direction of your campaign.

To make the most of this process, it’s essential to secure early buy-in from a key group of potential campaign donors. When these individuals are asked for their thoughts during the Study, they feel included and respected.

As a result, this builds trust and lays the groundwork for future giving — after all, people are far more likely to support what they’ve helped shape.

Bottom Line: A Smart Feasibility Study will transform your campaign aspirations into achievable realities. 

By tapping into the perspectives of dedicated supporters, you are able to build a foundation of trust and collaboration that propels your campaign forward with clarity, confidence, and credibility. 

This approach not only aligns your goals with realistic donor potential but also it also galvanizes a committed community to champion your cause with vigor and enthusiasm.

A feasibility study ensures you’re not just guessing—you’re making informed, strategic decisions with donor voices at the center.