How and Why to Set a Breathtaking
Capital Campaign Goal
By Andrea Kihlstedt Leave a Comment
Ask most people in the first phases of planning a capital campaign how much they need to raise
and they’ll have a simple answer straight out of the gate. It might be something like, “We’re
planning to raise $5 million over five years.”
But that quick, simple answer… It’s seldom big enough to meet their needs — let alone big
enough to take their organization to the next level.
That initial number usually reflects some of what they need, tempered by their belief and anxiety
that they can’t raise more.
If the scenario above describes you, STOP!
Your Capital Campaign is No Time to Think Small!
Here’s why…
Consider the costs.
First, let’s consider any costs you might be forgetting. For example, say you’re going to raise
money for a new building. You know you need $2 million to build it – but have you taken into
account the money you’ll need for new furniture and equipment? How about insurance costs?
Legal fees? Moving costs? The inevitable overruns?
How about the costs of the capital campaign itself? Not to mention the expense of starting up the
new programs you’ll have in the building?
Think “big impact.”
Next, remember — a capital campaign is about increasing your organization’s impact. It’s not
about little, incremental change. It’s about catapulting your organization to the next level of
impact.
You’re not “just” putting up a new building. No, you’re going to serve more people and do more
good once this project is complete.
And you’re not “just” asking your donors for money. No, you’re inviting them to partner with
you to make a difference in the world.
So you’ve got to think big enough about your goal so that the money you raise through your
campaign really will have significant impact.
What Will Your Campaign Fund?
Setting a preliminary financial goal that includes everything you’ll need (and then some) is one
of the most important steps in planning your campaign. It’s one of the 5 things you should do
before you hire a capital campaign consultant.
The very act of clarifying what your campaign will fund and creating a preliminary dollar goal
will force you to think carefully about the scope of your project and everything you’ll need to
make your project a success.
This kind of early planning is your chance to encourage your team to dream, and dream big.
So before you get very far in your capital campaign planning, take a moment to estimate the
entire cost of your ideal project. Be sure to create a preliminary campaign budget so you can
include your capital campaign costs.
Estimate your project costs carefully.
Here are some items you might want to include:
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Real estate
Design costs
Construction costs
Insurance
Interim financing
Equipment and furnishings
Administrative costs
Consultant and legal fees
Campaign expenses
Think expansively as you do this early work on your campaign goal. This is the time to be
inspired by your dreams, not hampered by your fears! And be sure to consider including some
endowment funds in your campaign goal.
It’s Called a “Working Goal” for a Reason
Just like the beginning stages of your case for support, your capital campaign’s fundraising goal
is a draft — an early estimate of what you might raise.
Your final campaign goal may be quite different from your early estimate. Yes, it might be
lower. But it also might end up higher. Use the phrase “working goal” to indicate it might
change.
But just because you’re not sure what your plans will cost or whether you can raise that much,
putting early numbers down on paper in the early stages will help focus everyone’s attention on
two vitally important issues:
1. Your vision.
2. The nuts and bolts of getting there.
So be sure to keep your DRAFT stamp ready, and use it liberally, while creating your initial
capital campaign goals!
(Yeah… we know no one uses draft stamps any more, but you get the idea. Make sure that it’s
clear — super clear. On every document that the goal is just an early estimate and is likely to
change over time as the project becomes more and more real.)
Aim high!
And especially at the beginning, aim high. You’ll find that it’s far easier to lower the working
goal than it is to raise it. And your donors may be willing to give more generously to big ideas
that have the potential to make a big impact.
**Photo credit: Lightwise / 123RF Stock Photo
Filed Under: Setting Campaign GoalsTagged With: camaign basics, campaign goals, campaign
planing, capital campaign budget, confidence, goal setting