83. Insights from the 2024 State of Capital Campaigns Benchmark Report
About this episode
Have you been hesitating to launch a capital campaign due to economic uncertainty, political turmoil, or fears of cannibalizing your annual fund? As a nonprofit leader, you're not alone in these concerns. But what if I told you that capital campaigns are not only viable but can be incredibly successful, even for smaller organizations? In this post, I'll share eye-opening insights from the 2024 State of Capital Campaigns Benchmark Report conducted by Capital Campaign Pro. After listening to my eye-opening conversation with the brilliant Steven Shattuck, you'll have the confidence and knowledge to consider a capital campaign for your organization, regardless of its size or the current economic climate.
The Surprising Success of Capital Campaigns
When I first dove into the results of this comprehensive study, I was struck by how overwhelmingly positive the outcomes were. Here are some key findings that might surprise you:
High Success Rates: A staggering 96% of organizations that completed a campaign considered it a success, regardless of whether they hit their exact fundraising goal.
Resilience in the Face of Challenges: Despite concerns about external factors like the economy or political climate, 56% of respondents reported that these issues did not negatively impact their campaigns.
Small Organizations Can Thrive: Organizations with annual budgets under $1 million showed similar success rates to larger nonprofits. In fact, they often outperformed larger organizations in areas like board involvement and donor relationship building.
These statistics paint a picture of resilience and adaptability in the nonprofit sector. It's clear that with the right approach, organizations of all sizes can successfully execute capital campaigns, even in challenging times.
Debunking Common Capital Campaign Myths
As I delved deeper into the report, I found that several long-held beliefs about capital campaigns were challenged:
The Annual Fund Myth: Contrary to popular belief, 80% of organizations reported that their annual fund either increased or stayed the same during and after the campaign.
The Wealthy Board Myth: While board involvement is crucial, the study showed that only about 15% of campaign funds came from board members. What's more important is their engagement and support, not their personal wealth.
The "Go It Alone" Myth: About two-thirds of successful campaigns involved some form of external consulting help, highlighting the value of expert guidance.
These findings underscore the importance of challenging our assumptions and being open to new approaches in fundraising.
Key Takeaways for Your Next Capital Campaign
Based on the study's results, here are some actionable insights for your next (or first) capital campaign:
Focus on Major Gifts: The study found that about 70% of campaign goals were met with just the top 20 gifts. This underscores the importance of identifying and cultivating major donors.
Engage Your Board: While financial contributions are welcome, board engagement and support are even more critical to campaign success.
Consider External Help: Don't be afraid to seek expert guidance. The majority of successful campaigns involved some form of consulting assistance.
Be Fearless: Don't let external factors or internal doubts hold you back. If you have a compelling vision and a strong case for support, now is the time to move forward.
A Wealth of Encouraging Data
The 2024 State of Capital Campaigns Benchmark Report offers a wealth of encouraging data for nonprofits considering a capital campaign. It challenges many long-held assumptions and provides a roadmap for success, regardless of your organization's size or the external environment. Remember, the biggest difference between small and large organizations in campaign success is often just the number of zeros at the end of the goal.
I encourage you to download the full report and share these insights with your team and board. Have you been considering a capital campaign? What challenges or opportunities do you see? Share your thoughts in the comments below, and let's continue this important conversation about the future of nonprofit fundraising.
If you find this episode valuable, I encourage you to share it with your colleagues in the nonprofit sector. Together, we can create a more aligned, effective, and fulfilling fundraising landscape.
With boundless gratitude,
Tammy Zonker
Major Gift Expert & Keynote Speaker
Our guest
Steven Shattuck, Director of Engagement, Capital Campaign Pro, Author
LinkedIn / Facebook / X / YouTube / Podcast / Contact / Website
“If you've got a clear need and a strong case for support and a vision, go.”
Steven Shattuck, Director of Engagement, Capital Campaign Pro, Author
Resources mentioned in this episode
The State of Capital Campaigns in 2024 Benchmark Report
Robots Make Bad Fundraisers: How Nonprofits Can Maintain the Heart in the Digital Age by Steven Shattuck
FundraisingAI Global Summit
7. The Importance of Creating & Maintaining Heart-Centered Connections with Our Donors
Fundraising Principles and Practice 3rd Edition by Adrian Sargeant
The Singularity Is Nearer: When We Merge with AI by Ray Kurzweil
FundMiner
Thanks to our friends over at Kindsight for sponsoring this episode of The Intentional Fundraiser podcast.
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