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September 29, 2008

Debunking Capital-Campaigns Myths

Most capital campaigns design their strategies based on myths — and a a result, they often fail to reach their full potential, William C. Krueger, president of Capital Quest, a fund-raising consulting firm, told last week’s annual meeting of the Association for Healthcare Philanthropy, in Chicago.

For example, many people believe that campaign-feasibility studies predict how much will be raised, but “statistics mean nothing in a campaign,” said Mr. Krueger. Instead, he said, a preliminary study should be used to start a discussion with prospective donors about the campaign, not to come up with numbers for how much money can be raised.

Some fund raisers also believe that getting all board members to give to a campaign is essential, but an obsession with getting all board members of offer their support can kill a campaign, said Mr. Krueger.

“The words ’100% of the board has given X’ are not all that different than ‘Our board has given a combined amount of X,‘” he said.

He advised fund raisers to promote their campaign to board members just as they would to any other prospective donor.

Another misconception is that campaigns attract wealthy people, said Mr. Krueger. All potential donors of big gifts are wealthy, but not all wealthy people are potential donors, he said. Campaign success is determined by an organization’s access to affluent donors and enlisting volunteers and staff members who know what amount to ask them to give.

— Paula Wasley

Monday September 29, 2008 | Permalink

Comments

1. I agree that feasibility studies are wonderful donor/prospect cultivation opportunities. But I have personally seen too many organizations flounder with campaigns that had no grounding in reality. We’ve been brought in after the fact on multiple campaigns that have been launched with impossibly high goals. Not every organization needs to do a full-fledged study, but those orgs that have not done a campaign before, or where years have gone by since the last campaign, MUST do a reality check before committing hard-won human and financial capital to an unrealistic campaign goal (much less a capital project they can’t afford to complete that will damage the org’s financial stability and future!)

   — Nancy C    Sep 29, 02:25 PM    #

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