Funding Feasibility Studies
Are you planning a major project or capital appeal? Do you need evidence of potential funding? Is your organisation actually in a position to raise the funds? To answer these questions, you probably need a funding feasibility study.
Commissioning a feasibility study is the professional way to prepare for your major appeal and reduce the risk of failure. It identifies the key issues you will have to address if you are to succeed, as well as often unearthing previously unseen opportunities. Issues that need to be investigated in a funding feasibility include:
- How does the project fit with the vision and mission of the organisation?
- Is the money actually available for the project in question?
- If so, where is it and how much could the organisation realistically expect to raise?
- Is the case for support strong enough? Could it be strengthened in any way?
- Does the organisation have the energy, capacity, contacts and determination to deliver a successful capital appeal?
- What contact networks are available to support an appeal?
- Where might a lead gift come from?
- How long would an appeal be likely to take?
- Who would lead the appeal? Do the trustees and others involved have the time and energy to support the appeal? Do external volunteer leaders need to be recruited?
- Can the total be achieved in one push, or should it be phased?
- What resources will be needed to make the appeal succeed, in terms of people, information, contacts, administration and budget?
- How does the proposed appeal fit with the organisation’s wider fundraising programme and how can any clashes be avoided?
- What are the key risks involved?
- What are the critical success factors?
- Is a successful appeal likely or not?
- What specific recommendations are appropriate?
A funding feasibility study consists of three phases – information gathering (interviews with key people inside and outside the organisation, as well as desk research into funding sources), followed by analysis and reporting.
The outcome of a funding feasibility study is one of three conclusions:
- The appeal is viable, so can move to the planning stage
- The appeal is likely to be viable once certain measures have been put in place (such as the recruitment of additional volunteer leadership)
- The appeal is not viable and should be abandoned.
For further information on funding feasibility studies or to discuss your appeal, please call us now on 01785 663600. See also our pages on capital appeals and fundraising strategies.