white paper

A Summary
“The Feasibility Study: A Road Map to Success”

Whether known as a feasibility study, planning study, implementation study, or by some other term, in the world of successful private fundraising, a feasibility study is an absolutely essential task and project for colleges serious about raising local dollars and support. The authors—Pendleton Armistead, Ed.D.; Kristin Culp, CFRE; and Marvin LeRoy, Jr.—have addressed a number of key issues and questions about feasibility studies in their white paper titled, “The Feasibility Study: A Road Map to Success.” The work can be acquired from the Council for Resource Development (a council affiliate of the American Association of Community Colleges) by visiting their website at www.crdnet.org.

The authors discuss and provide numerous positive outcomes of conducting the study, not the least of which is the work of Zimmerman-Lehman (2007), which outlines five critically important reasons to conduct feasibility studies prior to launching into a full scale campaign effort. The five reasons include:

  1. Offering an opportunity to determine how the institution is viewed through the eyes of those considered to be affluent and influential;
  2. Helping determine whether the community understands the importance of the proposed improvements;
  3. Providing an assessment of the college’s readiness for the undertaking;
  4. “Lighting a fire” under prospective donors; and
  5. Providing an assessment of human resources needed to implement a successful campaign.

The “white paper” is designed to answer questions surrounding the feasibility study’s purpose, effective techniques and implementation practices, and the benefits derived from what the authors believe should be the first step within a campaign (as opposed to just a preliminary step towards a fundraising campaign). The work also provides national benchmarking and comparative criteria gathered from more than 230 successful feasibility studies conducted by the Clements Group since 1986, as well as recommendations for maximizing the success of a feasibility study. The database utilized in the report is a compilation of information from studies conducted in rural and urban areas, from large multi-campus institutions to small local institutions where more than 4,000 major gifts campaign initiatives were tested, and from the thoughts and choices made by more than 14,500 “eagle” interviewees.

The findings compiled from these feasibility studies can be used as guiding benchmarks to determine challenges and opportunities, such as:

  1. General impressions of the college, administration, governing board, foundation board, and faculty;
  2. Opinions regarding the proposed campaign schedule;
  3. Opinions regarding the proposed campaign;
  4. Feasibility of the goal amount being tested;
  5. The eagles’ willingness to participate in the campaign;
  6. The eagles’ willingness to contribute to the campaign; and
  7. The eagles’ willingness to consider naming the college in their wills or estate plans.

A major gifts campaign should not be thought of as an isolated activity to raise funds; rather, it should be seen as a significant step in a long-term journey to enhance private-sector awareness, partnering, and resource development. The authors indicate that the feasibility study is an essential component of a successful campaign in that it is the road map to campaign success. Among other things, it is a:

  1. Prudent and essential tool to gauge the proposed vision and direction of the college against the needs of the community before funds are sought;
  2. Planning study to map a strategy for the campaign;
  3. Means of gaining assurance that there will be full engagement and support of the college and its boards;
  4. Time-sensitive snapshot of needs, impressions and support;
  5. Mechanism necessary to enhance awareness and cultivate prospective donors;
  6. Means of creating a sense of ownership and responsibility for the campaign and furthering relationships with donors;
  7. Means of discerning logical and pragmatic courses of action for the college so it can help resolve critical community-based needs and challenges; and
  8. High-profile endeavor which will give area residents a clear and compelling understanding of the impact the college has had and will continue to have on the regional economy.

In short, the feasibility study is the first step in positioning a college as a solution provider to community needs while also addressing whether the college meets the six essential campaign criteria necessary to move forward with a successful campaign: an essential need, a compelling case for support, inspired and influential leadership, sufficient prospects, a plan of action, and sound management.