Perhaps one of the most awkward activities during the early parts of a capital campaign is reviewing and prioritizing prospects.

By: Roy P. Wheeler, Jr.

Perhaps one of the most awkward activities during the early parts of a capital campaign is reviewing and prioritizing prospects. The key is to have a well-developed strategy that demystifies the process, puts the campaign volunteers at ease, and draws out clear conclusions about which prospects represent the greatest potential for support. The tremendous benefits reaped from candid discussions about the organization’s prospects always outweigh the initial feelings of awkwardness.

Earlier in the Fundraising Free Press, I did a four-part series of articles discussing the four elements of a successful capital campaign. The third of those was: “Prospects: Who to Ask for What When.” In that article I discussed the prospect identification process as one of the first important tasks of the campaign. Methodically, the process may include the following five steps:

1. Identification – who are our best prospects?
   
   
2. Research – what can we learn about them?
   
   
3. Evaluation – what does research tell us?
   
   
4. Cultivation – how do we educate them to our needs?
   
   
5. Solicitation – who is going to ask them?

In the second article of that series, I discussed setting up a “Campaign Cabinet” to oversee initial campaign activities. One of the first tasks of the Cabinet should be to begin to identify potential major gift prospects. I suggested several areas to which they could look to begin including:

• Feasibility Study Report (if one has been conducted);
  
  
• Development Office Records (Who has been involved in major campaigns before? Who are regular donors at the highest levels? Who has been cultivated to this point? Etc.);
  
  
• Board of Trustees;
  
  
• Previous major gift donors; and,
  
  
• Names suggested by volunteers, the organization’s leaders and staff.

Knowing these starting points, the process should be an easy one – or at least one that isn’t foreboding. However, in nearly every campaign I have conducted, I have found initiating prospect review can be an awkward or intimidating process to begin. Having said that, I have also found that once the process is clearly understood and underway, the awkwardness evaporates quickly as volunteers accept the process and begin to see results.

Typically, the first meeting of the campaign executive committee tends to be an orientation of sorts – that is, members are newly recruited and often not that familiar with the case or process of a capital campaign. Therefore, I use that first meeting as a “team building” session, one that incorporates all the volunteers in learning why the organization is raising funds, who is leading the effort, what the needs are, is, where we will attempt to raise funds, and how we will go about it. This also provides an excellent opportunity to close any outstanding gift requests among committee members and others.

The second meeting of the committee is generally when we begin the process of prospect review. I have found it helpful to have the volunteer leaders of the campaign begin the meeting by welcoming everyone, updating them on the progress of the campaign, then describing the meeting objective – reviewing prospects suggested in one or more of the categories listed above.

Then, as counsel, I describe the end product of successful prospect review – a major gift! With their focus on getting major gifts, I then describe the process. This usually includes passing out copies of a list of prospects and advising them that we will review the list as a group with three initial aims:

1. Who is on this list that probably should not be (not good prospects);
   
   
2. Who is not on the list that should be; and,
   
   
3. Who would you feel comfortable helping us contact.

With this as a starting point, the volunteers have a focus and can begin to discuss the names with some confidence. I then start at the top of the list, calling out each name and asking if anyone knows them or anything about them. I ask the leaders to join in and help keep the meeting upbeat and keep the pace moving as quickly as possible.

Using this as a starting point for prospect review, I have been able to get the committee past the initial feelings of reluctance to participate or to “talk about” other people. I let them know this is a confidential process and that nothing said leaves the meeting room. I use the example of making personal requests of our prospects – as volunteers usually understand the importance of personal requests – and ask them to take it one step further: e.g. who do we see first and why?

Once the committee members know the importance of asking for the biggest gifts first in order to build momentum, raise significant funds, and raise the expectations of others to follow, they typically see the logic and necessity of thorough prospect review and assignment. As with all aspects of a successful capital campaign, the best results come when we marry tried and true fundraising principles with the inherent leadership skills of our top volunteers.

Roy P. Wheeler, Jr. is executive vice president of Custom Development Solutions, Inc. (CDS). CDS has become one of North America's best and most sought after fundraising consulting firms specializing in the strategic planning and tactical execution of capital campaigns for non-profits throughout the United States and Canada. More information on CDS can be found on the web at www.cdsfunds.com. If you have a fundraising question for Roy, please call 800-761-3833 or send an email to rpw@cdsfunds.com.