When is the best time to start a capital campaign?

When making this decision, there are really only two things you need to take into consideration. One is your local philanthropic community, and the other is your organization’s own timeframe of activities. 

There is a misconception that periods of economic downturn are a bad time to start a capital campaign. One might also think a global pandemic is a bad time to start a capital campaign. In our experience, there is no bad time to start a capital campaign.

The reality is, people who have the willingness and capacity to give will continue doing so in times of economic downturn. A global pandemic, while challenging, means that donors are likely working/staying at home and easy to reach via Zoom.

So, what SHOULD you be considering when choosing the start of a capital campaign?

Philanthropic landscape within your local community.

Is there an organization with a similar mission to yours planning to do a campaign at the same time? Is there a much larger organization nearby that just wrapped up a major capital campaign, and most of the donors in your community are paying off large pledges?

Your organization’s internal timeline.

Do you have a major anniversary coming up? Are you planning a gala or similar annual fundraising event, or making any major internal changes such as new executive leadership or starting a new program? Your capital campaign should coincide with positive organizational changes but at the same time, there shouldn’t be too much internal disruption during a capital campaign.

Use your gala or other large-scale event to your benefit, it’s a great time to make a public phase announcement! Or align your campaign with an anniversary, a great time to plan in advance to make a public announcement. You shouldn’t have to worry about whats going on politically, economically/financially, or basically any circumstantial factors you can’t control. The news cycle will always give you reasons not to conduct a capital campaign—when in doubt, talk to your donors. If they’re ready to support you then there’s no reason not to go ahead.