Tips for When and When Not to Do a Feasibility Study

Feasibility, or pre-campaign planning, studies help prepare an organization for a successful capital campaign. But are they always necessary?

The book “The Fundraising Feasibility Study: It’s Not About the Money,” edited by Martin L. Novom, offers insights into the feasibility-study process from a host of professional fundraisers.

For example, Elliott S. Oshry, executive vice president of fundraising firm Ketchum, talks about the benefits and elements of a pre-campaign planning study, including things like objectives and deliverables, process, and timing.

Oshry says there are no downsides to doing a pre-campaign study. Though it requires time and some expense, it usually pays clear dividends. He says a pre-campaign study always should be done when:

* There is any question about the community’s acceptance of the capital project.

* There has been any major board or CEO transition.

* It is a “first” campaign for the agency.

* It has been 10 years or more since the last campaign.

* The annual fund has been stagnant.

* There is no clear and accessible first choice for campaign chair.

* The lead gift is not clearly identified.

On the flip side, some instances where a pre-campaign planning study might not be necessary include when:

* The agency has had seamless, back-to-back campaigns.

* The campaign is mandated by an accrediting body.

* The lead gift has been secured.

For more, “The Fundraising Feasibility Study: It’s Not About the Money,” edited by Martin L. Novom. 2007, John Wiley & Sons. $50. www.wiley.com/WileyCDA/WileyTitle/productCd-0470120746.html