Are You Ready for a Capital Campaign?
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A lot of people think that once they decide they want to start a capital campaign, they can just jump right in and start raising money. But it takes a lot of planning and preparation to make sure your campaign is successful. So, how do you know if your small nonprofit is ready to launch a capital campaign?
On today's episode, we’re talking all about Capital Campaigns with Sabrina Walker-Hernandez, Certified Consultant, Coach, Facilitator & Best Selling Author helping small nonprofits build relationships that convert into more donations. She's worked for 25 years in our sector from direct services operations all the way to executive leadership, and she took an organization with an annual budget of 750,000 to 2.5 million a year operations and launched a $12 million capital campaign in the US's third poorest county.
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Myths that Sabrina wants us to walk away from:
You can start a capital campaign right away. If you are a small nonprofit, you need to build your annual campaign before you go into a capital campaign because capital campaigns are all about individuals and relationships. And you want those individuals connected to you and your work before you ask them to dig deep into their pockets.
You can ask any of your donors to give to your capital campaign. Yes - you can ask each and every donor to give towards your capital campaign (it’s not just about the big gifts), BUT you really need to have a relationship with them before you go and ask them for a special gift. You can't take a person from zero to $250,000.
Sabrina’s thoughts on Capital Campaign
Relationships first. Start with individual giving as you build your foundation. You have to have a relationship with people before you go and ask them for the amount of money that you're going to need to complete a capital campaign.
Feasibility Study. Have a conversation with the individuals in the community to let them know about what you want to do and share your vision. Seek advice from people who want to be part of the campaign.
Identify the key person. The executive director doesn't necessarily have to lead, but you can identify a co-chair to lead the campaign or even hire a consultant that can guide you through the campaign.
Phases of the campaign. You can start to secure your top gifts from your top donors and board members first. Depending on your strategy, you can also have mid-level, the corporate approach, and the foundation approach. Lastly, you can also have a community approach to get everyone involved.
Favourite Quotes from Today’s Episode
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“People will follow success. When we first launched this capital campaign and we talked about $12 million, people did not think it could be done. So we had to come out strong and so people will follow success, invest upfront in getting those top donors on board. It will break or make your capital campaign.”
“You have to have a relationship with people before you go and ask them for the amount of money that you're going to need to complete a capital campaign. You're going to need large amounts of money. And so you have to already have that relationship with them. You can't take a person from, you know, zero to, man, my largest capital campaign gift from an individual's $250,000. There was no way that I could take them from zero to $250,000. ”
Resources from this Episode
