Q. What is a Feasibility Study?
A. The Goldie Company believes that a Fundraising Feasibility Planning Study is an integral part of your planning process, and that it is the necessary first step in a proven and successful sequential fundraising strategy. Prior to implementing a Planning Study, however, certain essential questions must first be answered:
- Why do we need a Study?
- What is the relationship between a Study and a capital campaign?
- What is the methodology?
- How long does the Study take?
- How much does it cost?
The key objective of our Fundraising Planning Studies is to determine whether our clients can raise the funds that they require from their respective communities and constituents. Two essential sub-objectives of the Study are:
- To educate your community and constituents on the benefits of supporting your project and on the need for, and urgency of, a private sector fundraising campaign.
- To provide your constituents with the opportunity for early input during the planning stage of the project, while advising them that a campaign is being planned.
We ask members of each client’s Study Committee to participate in an individual interview and three Committee meetings. We also require the assistance of one staff liaison individual who can answer our questions and can help us to arrange selected interviews.
Each Study, depending on its individual characteristics, can take approximately eight weeks to complete. Personal interviews are conducted with 25 to 75 people and, in some instances, one or two focus-group sessions are recommended. A Goldie Company Study will provide our clients with the answers they will need to proceed:
- Can our campaign goal be achieved? If not, how much can we raise?
- How is our organization, as well as this project or need, perceived by our constituents?
- What are the perceived strengths and weaknesses of our project? Which strengths will our constituents support and to what extent?
- What volunteer leadership is available and interested in participating in our campaign?
- What are the sources of our financial support and their potential for giving? In particular, who will our largest contributors be?
- What is the current fundraising environment and what is our competition?
- Does our project hold any special designation or sponsorship opportunities?
- How will our volunteers and staff be involved?
- What should be our basic strategy
- What kind of campaign organization is required?
- When is the best time to initiate our campaign? How long will it take?
- What kind of help will be needed to implement the campaign?
- How much is it going to cost?
The Goldie Company provides an experienced team of skilled and objective professionals to prepare the necessary materials, to conduct the Study and to prepare the resultant summary of Findings and Recommendations.
Our Studies include three sequential phases:
1. Research and Preparations
- We research and write a Case Summary statement outlining your needs and rationale for a campaign.
- We work with your Study Committee to select the interview candidates and to prepare the interview questions.
2. Study Implementation
- We mail introductory materials to interview candidates.
- We telephone candidates to arrange interview appointments.
- We conduct the actual interviews and focus group sessions.
3. Reporting and Recommendations
- We summarize the interview and focus group input.
- We prepare the report of findings and recommendations.
At the completion of the Study, our clients have the facts to make educated decisions that will enable them to organize and conduct an effective and successful campaign.