Is a feasibility study necessary?
Nonprofit organizations often face the decision to retain fund raising counsel to conduct a feasibility study. With a strategic plan completed and approved by the Board, its goals for growth opportunities and sustainability must be shared and reviewed in confidence by key volunteers, especially those with the capacity to support them. These goals usually take the form of a new (or increased) endowment, purchase/renovation of real estate, a building, or spaces, and expanded programs. Sometimes a combination with other needs is recommended. All will require fund raising, volunteer involvement, and staff working at deeper and more sophisticated levels. At the same time, many organizations recognize that their family of active supporters may be too small in number or, while the donor base is growing, the promise of leadership giving is unfulfilled. Potential major gift donors representing new constituency support may be willing to help but await leadership and a plan. An institution’s own
