A capital campaign is a targeted fundraising effort over a set period to raise money for a specific project.
Budgeting for Your Campaign
To budget for your capital campaign:
- Take 10 percent of your total campaign goal. This estimates your campaign’s costs.
- For smaller campaigns under $2 million, expect to spend 15 percent.
- For campaigns from $3-5 million, budget 10 percent.
- And for near $10 million campaigns, plan for 4-5 percent.
Your budget should include costs for:
- Infrastructure
- Professionals
- Staff
- Consultants
- Events
- Materials
Consultant-led studies often cost over $50,000. Overall, determine your project, set your monetary goal and timeline, excite your leadership, assemble a committee, complete a feasibility study, identify prospects, then fundraise. Carefully budgeting keeps costs in check so you can fully finance your vision without pulling from operating funds.
Key Steps in Planning
- First, determine your needs and set fundraising goals.
- Then, build your team and excite your board.
- Conduct a feasibility study to assess stakeholder support.
- Make your case for support and develop a gift range chart.
- Finally, budget carefully, usually less than 10% of your goal.
Successful campaigns grow out of long-range plans specifying needed investments. A feasibility study serves two key purposes: assessing stakeholder support and generating early backing among key supporters.
Campaign Phases
The three campaign phases are:
- Planning
- Quiet
- Public
In the quiet phase, aim to raise 50-70% of your goal through major gifts before going public.
Overall, successful capital campaigns require thorough planning, strong leadership support, and adaptability to keep on track towards your end goals.