[NPFX Ep. 19] Nonprofit Feasibility Studies
Welcome to The Nonprofit Fundraising Exchange, a podcast from IPM Advancement. Our mission is to help you raise more money so you can make the world a better place.
Today’s topic: Nonprofit Feasibility Studies
Many nonprofits operate within very tight budgets that leave little or no margin for error. That’s why smart nonprofits rely on data before beginning a capital campaign or other large fundraising project. In today’s podcast episode, IPM consultants Rich Frazier, Sondra Madison, and Alan Knobloch take a close look at one of the best sources of data available to nonprofits: The Feasibility Study.
Time-Stamped Episode Shortcuts:
- Introductions [1:20]
- What a feasibility study is and why it's important [1:58]
- Is your nonprofit too small to benefit from a feasibility study? [4:30]
- Real-world examples of how feasibility studies have helped nonprofits [5:18]
- Why confidential, consultant-led interviews elicit the most valuable information [8:35]
- The #1 risk of not doing a feasibility study [14:31]
- Key steps you never want to skip [17:44]
- Scheduling feasibility study interviews [20:44]
- COVID-19 and conducting feasibility studies virtually [22:58]
- Challenges and mistakes to watch out for [24:02]
- How to select the right consultant or agency to run your feasibility study [26:23]
- Advice for nonprofits who can't hire a consultant [29:59]
- How to prevent your capital campaign from drawing resources away from day-to-day fundraising [32:39]
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Rich Frazier has worked in the nonprofit sector for nearly 30 years. In his role as senior consultant with IPM Advancement, Rich offers extensive understanding and knowledge in major gifts program management, fund development, strategic planning, and board of directors development.
Sondra Madison has raised millions of dollars for organizations across the U.S. since beginning her nonprofit consulting work in 2002. She’s led projects for large national non-profits such as CARE, American Diabetes Association, Feeding America, and Habitat International, as well as serving Boys & Girls Clubs of America as their Senior Vice President of Development.
Alan Knobloch has worked in the non-profit sector for over 30 years, holding positions at The Nature Conservancy Arizona, St. Joseph’s Hospital and Barrow Neurological Institute, Phoenix Children’s Hospital Foundation, and Valley of the Sun United Way. In addition to being a Certified Fund Raising Executive from the Association of Fund Raising Professionals, he has earned a diploma from the National Planned Giving Institute from the College of William and Mary.