At Midwest Studies Group, we often work with organizations eager to launch a capital campaign. They come to us with impressive plans, sometimes complete with architectural drawings and a clear sense of purpose. However, there's one crucial step that’s sometimes overlooked: determining if the project is financially feasible.

We often hear, "Our project would make a huge impact in the community. People really need this." While that may be true, it's essential not to skip the financial homework. Here are two key steps to get started:

1. Review your donor database. Can you realistically support this project? Do you have enough high-level donors? Are local grantors and funders familiar with your organization and mission? If you have a solid base of support, great. If not, it may be time to focus on growing your board, supporters, and annual donors.
2. If you believe you have sufficient backing, conducting a feasibility study is crucial. This objective analysis will help gauge donor interest and determine how much funding you can realistically raise. Skipping this step could mean leaving money on the table or, worse, offending donors by not doing your due diligence.

We understand that taking these steps can feel like a delay when you're eager to start raising money. However, we believe that doing things right from the start will save you time and increase your chances of success. Remember, in most cases, you only get one chance to ask donors for funding on a capital project—getting it wrong can be costly.

So, take the time to do it right. It will make your GREAT project even GREATER.

If Midwest Studies Group can assist you as you consider starting a capital campaign, please reach out to us at info(at)midweststudiesgroup.com.