Capital Campaigns in a Down Economy: Readiness Matters More Than Ever

Can you start a capital campaign during a recession or down economy?

Technically—yes. History shows that campaigns have succeeded in tough times, and we believe wholeheartedly that a compelling case can rise above the noise when people are being more thoughtful about where to give.

But here’s the harder truth: if your organization is entering a campaign already in a fragile financial state, lacking a clear plan or a strong major gifts program, a recession won’t just make things harder—it could derail your effort entirely.

A tough economic environment is not the time to gamble on shaky readiness.

Instead, it might be the perfect time to pause, reflect, and invest in your fundraising infrastructure:

• Build or deepen your major gifts pipeline

• Develop a realistic donor engagement plan

• Align your campaign goals with your organizational capacity and financial strategy

• Engage your board in meaningful fundraising leadership

• Test the case and donor appetite with a guided feasibility study

• Assess your organization’s ability to navigate revenue volatility—do you have reserves? Contingency plans? A clear picture of how different economic scenarios could affect your fundraising and operations?
  

Campaigns thrive on confidence—yours and your donors. If your internal financial stress or lack of clarity is visible, potential supporters will hesitate. But if you can show adaptability, forward thinking, and a compelling long-term vision, even a challenging economy can be the backdrop for a successful capital campaign.

So before you forge ahead into a campaign during uncertain times, ask the deeper question: Are we truly ready? Or is our next right step laying the groundwork for when we will be?

At Fundraising Sol, we help organizations assess their capital campaign readiness with honesty and care—and if it turns out you’re not quite there yet, we don’t leave you hanging. We offer strategy calls and tailored support to help you build the strong foundation you need to succeed when the time is right. Curious where you stand? Let’s talk.

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Frances Roen is a Georgia girl at heart, and has been graciously adopted by beautiful, snowy Minnesota. She is a forty-something daughter, friend, mom, wife, and entrepreneur, and is always on the look-out for a perfectly

fried piece of chicken.

Frances is a Certified Fundraising Executive (CFRE) with nearly 20 years of experience fundraising and has raised over $200M for nonprofits. She has held fundraising positions at The Bakken Museum, Augustana Care Corporation, and YouthLink and consulted with dozens of nonprofit clients across the globe. In these roles, she has been responsible for all aspects of fundraising including comprehensive campaigns, major and planned gifts, annual funds, events, communications, corporate partnerships, and volunteers.