3 Tips to Know Before You Begin
As you start thinking about undertaking your nonprofit’s next fundraising campaign, you may be tempted to dive in head first to get the ball rolling. While this enthusiasm is great, completing some groundwork before getting started is important.
What kind of groundwork, you ask? Before starting any large-scale fundraising campaign, nonprofits should always begin by conducting a feasibility study.
Nonprofit feasibility studies are assessments designed to determine an organization’s readiness to take on a fundraising campaign. They reveal your organization’s strengths and weaknesses (in regard to development) and clarify opportunities for improvement.
A comprehensive feasibility study will reveal how key stakeholders feel about your upcoming campaign, the types of fundraising strategies they respond to, and what resonates with them as supporters. Ideally, you will use study results to shape campaign elements and strategy—or focus on areas of improvement before embarking on your campaign.
Nonprofit feasibility studies are informative tools that can help nonprofits avoid fundraising catastrophe . . . yet many organizations elect to skip them. Big mistake!
Start your next big fundraising project off right by taking time to conduct a thorough feasibility study. Read on to learn how you can make the most of this important assessment.