It may surprise you, but capital campaigns aren’t just for the biggest nonprofits. According to a 2024 study by Capital Campaign Pro, organizations with annual budgets under $1 million raised $3.3 million to $9.5 million, on average, in ambitious, multiyear fundraising drives.
When universities or hospitals embark on capital campaigns, they’re typically raising funds for a new building or program. But small nonprofits may use a multiyear campaign to expand a program or inspire supporters with an audacious annual fundraising goal. Such efforts may also be called comprehensive campaigns.
My colleague Lisa Schohl spoke with veteran fundraisers who have launched multiyear campaigns for small organizations, and they said these endeavors are well worth the effort — even in today’s uncertain economic climate.
“People are going to be asking philanthropists for gifts,” says Matthew Naylor, CEO of the National World War I Museum and Memorial. “You may as well be one of those.” The museum is in a campaign right now, and is currently on track to beat its $50 million fundraising goal by 50 percent, Lisa reports
Amy Eisenstein, CEO of Capital Campaign Pro, agrees. “You can’t time the market,” she says. Historically, recessions last about 10 months, and capital drives run for three or four years, she says, so it’s likely you’ll see both ups and downs before you’ve finished. But keep in mind, the wealthiest donors — who are crucial to the success of these campaigns — tend to get richer amid stock-market fluctuations.
One big tip before you get started: Conduct a readiness study to determine whether your nonprofit has the systems and capacity to manage a multiyear campaign — including staff to do the work, a culture of fundraising at the organization, and a donor database that enables you to track and steward supporters properly. In particular, make sure your board is ready to pitch in on a multiyear fundraising endeavor.
For more insights, read Lisa’s full article, How Small Nonprofits Can Run a Strong Capital Campaign: 8 Tips.
Have a great week,
Emily Haynes
Senior Editor, Nonprofit Intelligence