An organisation considering a major fundraising project should undertake a feasibility study to test the potential support by its stakeholders. The goals are two-fold. Gather feedback and information to guide the project and create early support and awareness among key parties.

These studies are conducted through one-on-one meetings and focus groups, during which an objective third-party representative asks concise, engaging questions to elicit perceptions of an organisation and its project.

The benefit of a feasibility study is that it enables organisations to develop realistic goals and a strong case for support by proactively addressing issues and roadblocks. As a result, they have a greater likelihood of reaching – and often exceeding – their financial goals.

WHAT QUESTIONS WOULD A FEASIBILITY STUDY ANSWER?

• Is there a compelling case for support?

• Which projects make sense and offer a solution?

• Is there support among board and volunteer leadership? Who are the potential campaign leaders and prospects?

• Are there any obvious concerns in regarding for fundraising?

• What is the best the timing for the various initiatives?

• How much should the organisation expect to raise for each initiative?

One of the benefits of this process is the awareness and excitement generated among those closest to the organisation while encouraging them to see their role in the campaign! Feasibility studies are an excellent stewardship activity with many positive, and often unanticipated, outcomes during the campaign.

WHO PARTICIPATES IN A FEASIBILITY STUDY?

A study is only as valuable as its participants. As such, it is important to assemble diverse perspectives and viewpoints in which to test an idea. Donors, volunteers, clients, community members and even staff are ideal candidates; organisations should be sure to include friends and critics to their study.

Additionally, the number of people taking part can range from 10 to 50, depending on the maturity of the organisation and potential size of the capital campaign. Here is an example of the variety of individuals to be considered for interviews:

• Current and former board members

• Current major donors (including legacy/planned gift donors)

• Former or inactive major donors

• Key volunteers

• Community stakeholders (i.e., community foundations, trust officers, church delegates, political officials, as appropriate)

• Business owners and prominent vendors

• Grateful patients, alumni/alumnae and students

WHAT MAKES A SUCCESSFUL FEASIBILITY STUDY?

• It should be conducted by an objective, third-party representative, that you trust and who would be well-received by your participants.

• The majority of those interviewed should have a strong and genuine affiliation with the organisation, rather than high-profile “community types” who have not personally contributed to your organisation

• The Board should be open to the report’s findings, which will include recommendations regarding a campaign goal, the intended use of funds to be raised and the best format for the campaign.