3 Ways to Determine Which Major Fundraising Campaign to Host

Every nonprofit leader eventually reaches a point where annual funding is not enough to accomplish all of their organization’s goals. Usually, this is because they have a larger goal that they want to fulfill, and no matter how much they try, no amount of budget tweaking will get them to it. One effective solution to this situation is to host a major fundraising campaign.

As the name suggests, major campaigns are major undertakings. They require a lot of effort and planning to pull off successfully. One of the biggest mistakes you can make early on that could undermine your plans is choosing the wrong type of campaign. The wrong campaign can lead you to produce confusing messaging, contribute to funder fatigue, or even cause you to miss your funding goal entirely.

To secure a substantial amount of funding, you need to select a fundraising campaign that aligns with your goals and resonates with your supporters. Here are three ways to determine which major fundraising campaign is right for your nonprofit organization.

1. Assess your nonprofit’s funding needs.

Unlike annual fundraising, which supports general operations and programs, major fundraising efforts usually are tied to a specific milestone or asset. For example, many nonprofits host major campaigns to fund a new building project or renovations for their existing facilities. Your first step is to determine exactly what you want to do with donated funds. And then be clear about why your supporters should care about this initiative.

Next, look at the following list of the most common types of major fundraising campaigns to see which one matches your needs:

• Capital campaigns: When most nonprofit professionals think of a major campaign, they think of a capital campaign. It is an intense, time-limited effort (usually three to five years) specifically designed to raise funds for a specific new initiative that requires a large influx of cash beyond what your organization’s annual budget can support.
• Comprehensive campaigns: A comprehensive fundraising campaign is a single, structured initiative that consolidates multiple funding efforts, including major gifts, annual appeals, and capital investments. Its ultimate goal is to provide long-term financial sustainability, enabling your nonprofit to have a greater impact over time.
• Endowment campaigns: In an endowment campaign, a nonprofit seeks to raise a substantial amount of money to secure its future financial stability. Throughout the process, nonprofits raise a principal sum of money that is invested, and the organization will use the interest or investment income to fund its work. Endowments are most commonly used by educational, cultural, and healthcare organizations, but any nonprofit can create one.
• Legacy (or planned) giving campaigns: These fundraising initiatives focus on securing planned gifts, such as bequests in wills or beneficiary designations. Revenue doesn’t come in immediately, due to the nature of these gifts, but a dedicated campaign drives a high volume of planned gift commitments in a set period. Since funders’ day-to-day spending is not impacted by donating these gifts, they tend to be much larger than cash contributions—making planned gifts highly sought after across the sector.

Evaluate your timeline and urgency. Most of these campaigns take different lengths of time, so time span should inform which campaign is best suited to your needs. For instance, capital campaigns are considered to be on the shorter side. If your project has a hard deadline or is tied to a specific window of opportunity, the high-intensity focus of a capital campaign could be what you need.

By contrast, comprehensive campaigns often span five to seven years. These fundraising initiatives combine capital needs, endowment growth, and annual operating support into a single “mega-goal.” If your goal doesn’t have a specific deadline and is more about generally (but intentionally) expanding your organization’s revenue streams, a comprehensive campaign could be the best approach.

During this process, be sure to consult with your development and finance teams to gain the best understanding of what your nonprofit needs to achieve and what you should prioritize. With their input, you can make an informed decision about your funding needs and ensure you select the right major fundraising campaign.

2. Consider your main base of funders.

The success of most major campaigns is determined by your supporters’ willingness to make gifts of various sizes. That means that your campaign model and message must resonate with your targeted funders and investors. The composition of your supporter base should influence your campaign choice as follows:

• Capital campaigns tend to attract funders who want to see visible impact from their funds. They want the joy of contributing to a new project and the satisfaction of knowing that their money brought the initiative to life.
• Comprehensive campaigns appeal to your most loyal, long-term funders. These individuals trust your leadership and understand that organizational growth requires a blend of capital improvements, programmatic expansion, and operational stability. They are willing to fund or invest in the “whole picture” rather than contribute toward a single asset or initiative.
• Endowment campaigns often require a more sophisticated base of funders or investors who understand that they are giving to secure your nonprofit’s future. Similar to funders for comprehensive campaigns, supporters for endowment campaigns see their contribution as an investment in your mission, ensuring that you can continue to further your cause regardless of circumstances.
• Planned giving campaigns resonate with supporters thinking about their personal legacy. These are often donors who want to make a transformational gift that they perhaps can’t afford during their lifetime. They trust your organization to steward that wealth for future generations.

Consider your communications and how you’ve positioned your nonprofit and its cause in your supporters’ minds. When you make asks or appeals, what language do you use? How do you position your nonprofit’s mission? What has historically been most successful? These details tell you what resonates with your supporters and what type of campaign would be most likely to elicit a positive response.

3. Work with a fundraising consultant.

If you’re still feeling uncertain about what type of major fundraising campaign to host, working with a fundraising consultant could be the right choice. These individuals have years of experience determining which campaign best suits a nonprofit’s goals and even guiding them through the specifics of their chosen campaign.

For example, a consultant specializing in capital campaigns would help you:

• Conduct feasibility studies
• Advise your nonprofit’s leadership
• Evaluate funder prospects
• Train your fundraising team
• Develop strategic messaging
• Keep your campaign on track

Most important, a fundraising consultant provides an objective perspective that your team may lack due to their closeness to your mission. A consultant will use their expertise and trustworthy data sources to advise you about which campaign your nonprofit should undertake, ensuring your team invests time and resources into a winning strategy.

Choosing the Right Major Fundraising Campaign

Choosing a major fundraising campaign is a big decision that defines your organization’s trajectory for the next several years. By analyzing your needs, evaluating your timeline, understanding your supporter base, and partnering with a fundraising consultant, you can select a campaign that will help your nonprofit fulfill its unique goals and further its mission.