1. Community's perception of the importance of the need for which money is to be raised.
2. Feelings, both positive and negative, about the organization and its mission.
3. Size of the potential donor base and its ability to give.
4. Availability of strong campaign leadership and effective volunteers.
5. Internal resources available for the campaign and the preparedness of the organization to undertake it.
6. External factors that could influence the outcome of the campaign.
So, what is the best way to conduct a feasibility study? Without a shadow of a doubt, you should hire outside counsel to conduct the study. Why?
Organizations lacking the resources and the know-how described above are not in a position to evaluate the feasibility of a capital or endowment campaign. In addition, a number of external issues may need to be addressed. These can include problems with name and mission recognition in the community, or harmful misperceptions about the organization or proposed project. Many such organizations will find it necessary and practical to engage outside professional fund-raising counsel to conduct a feasibility study.
A feasibility study conducted by an experienced, competent professional can reveal a great deal. Properly planned and executed it is in reality a survey of the philanthropic "market" and an organization's place within that market. By asking affluent and influential persons the right questions, an organization can get information that has direct and positive bearing on its mission, governance, staffing, and the quality and delivery of its services.
Lastly, the principal value of having outside counsel perform a campaign feasibility study is the opportunity to obtain candid answers to tough questions. A consultant is not part of the organization's "family," and that means the responses from study subjects will be more candid and complete.
Alden Charles Associates can assist your organization by conducting feasibility studies on your organization's behalf.
