When chambers of commerce launch a capital campaign, they typically develop a multi-year strategic action plan, with multi-year measurable goals, and a multi-year projected budget. The campaign then seeks multi-year pledges from public and private sector investors to fund implementation of the plan. The plan is typically composed of several…
In the mid-2000s, most economic development organizations (EDOs) enjoyed solid financial support for their work. That changed significantly four years ago, after the global economy crashed. Job losses mounted, consumer spending plummeted, and financial support for EDOs began to waiver. Change was in the air. Many EDOs looked at their…
There are those who predict that in less than 10 years all websites will be replaced by apps. Close to 500 million smart phones and 55 million iPads have been sold in the last year. In fact, a recent article by Business Insider discussed data that indicates that mobile users will surpass desktop users…
Feasibility Study. Goal Assessment. Opportunity Analysis. No matter what you call it, a face to face meeting with potential funders is the nonnegotiable first step to a successful capital campaign. But let’s be clear: the feasibility study is NOT the proper place to solicit them for money. Just as capital…
With public sector funding for economic development drying up around the country – and in California particularly – it’s never been a better time for economic development organization to look to the private sector for funding. More EDCs than ever are now adopting the model that has long worked for…
Economic Gardening is not a new concept. Back in 1987, the City of Littleton, Colorado became the pioneers of this economic development practice, and since that time many other communities and states have adopted their own programs. In recent years, however, Convergent’s fundraising professionals have noticed more and more economic development…
Capital campaigns have been around as long as fundraising, and the mechanics of a campaign are well documented. One quick search on the Internet will give you everything you need to know, as will the thousands of books available (5,271 listed on Amazon.com) on the topic. We don’t need to…
When Rainbow Village decided it was time to grow their mission, they did what most non-profit organizations would do: they developed a strategic plan, and an ambitious one at that. This small, local program provides a transitional housing community for homeless families with children, and their goal was to expand their…
With donations dropping and competition surging for the nation’s charitable dollars, nonprofit organizations are increasingly looking to special consultancies to help with their fundraising. One such consultancy, Convergent Nonprofit Solutions, is making the business case for social investment by pointing out the tangible business benefits of giving money to charity.…
Historically most economic development organizations that procured private sector funding did so by utilizing a membership-based model, like chambers of commerce and other membership service organizations. Over the past decade, a powerful private sector funding trend has emerged. Forward-thinking and successful economic development organizations across the country have increasingly moved…
Social Media