Conducting Fundraising Feasibility Studies
Launching a major fundraising campaign without a feasibility study is like setting sail without checking the weather.
A fundraising feasibility study is not just a “nice-to-have” — it’s a critical tool to validate your campaign readiness, strengthen your relationships, and plan strategically.
Here’s how to truly nail it:
1. Understand What a Feasibility Study REALLY Is
At its core, a feasibility study is an honest, structured, pre-campaign assessment.
It measures three things:
Internal Readiness: Does your organisation have the leadership, infrastructure, and campaign mindset needed?
External Readiness: Will your donor base (and broader community) support your goal?
Campaign Readiness: Are the proposed priorities compelling enough to inspire major gifts?
2. When Should You Conduct a Feasibility Study?
Before launching a capital campaign (buildings, endowments, program expansions).
When you’re targeting a goal larger than your normal annual fundraising.
When you’re considering a multi-year strategic fundraising initiative.
Timing Tip:
Ideally 6–12 months before the campaign launch. Give yourself time to adjust your plans based on the study’s findings.
3. How to Structure a Feasibility Study
Step 1: Define the Study Goals
How much do you want to raise?
What is the preliminary case for support?
What internal systems (staff, technology, policies) are needed?
Step 2: Recruit an External Consultant (Highly Recommended)
Third-party interviewers elicit more honest feedback.
Consultants also bring benchmarking expertise and can spot red flags early.
Step 3: Identify Key Stakeholders to Interview
Aim for 30–50 interviews including:
Current major donors
Past major donors
Key board members
Community leaders
Corporate/foundation partners
Prospect donors
Step 4: Prepare a Strong Discussion Guide
Ask strategic questions like:
How compelling do you find the proposed project?
Would you consider supporting it? At what level?
How would you suggest we strengthen our case?
Are there any potential barriers you see?
Who else do you think should be involved?
Step 5: Conduct the Interviews (Confidentially)
Listen deeply without selling.
Focus on gathering perceptions, concerns, motivations.
Step 6: Analyse and Synthesise Findings
What is the estimated philanthropic potential?
What are perceived strengths/weaknesses?
What leadership gaps exist?
How strong is the community excitement and buy-in?
Step 7: Report and Make Decisions
Your final report should recommend:
Whether to proceed, pause, or pivot
Adjustments to the fundraising goal
Case for support refinements
Staffing or resource needs
4. Common Pitfalls (And How to Avoid Them)
Pitfall: Skipping the study to “save time/money.”
Fix: Studies prevent costly public campaign failures later.Pitfall: Only interviewing “safe” friendly stakeholders.
Fix: Include skeptics, critics, and neutral parties too.Pitfall: Ignoring negative feedback.
Fix: Hard truths early save you heartache later.Pitfall: Treating it like a sales pitch.
Fix: It’s about listening, not selling.
5. Extra Pro Tips from the Field
Draft a Preliminary Case for Support BEFORE the study. Even a 2-page draft can focus conversations.
Ask about timing: Would donors prefer pledging now, later, or after seeing early results?
Look for champions: Identify who might chair your campaign, host events, or open doors.
Identify giving ranges: Based on feedback, build a preliminary gift pyramid (e.g., one $500k gift, three $100k gifts, etc.).
Key Takeaway:
A feasibility study is not about getting permission — it’s about gathering insights to sharpen your strategy, avoid pitfalls, inspire donors, and build a stronger, smarter campaign from day one.
It’s one of the smartest investments you’ll ever make in your organisation’s future fundraising success.