Success Story: Phelps County Development Corporation
Launching A Successful First Capital Campaign
Success Story: Phelps County Development Corporation
Can a rural community Economic Development Organization (EDO), which has never run a capital campaign in the past, launch a major fundraising initiative? How do you generate full buy-in from a business community that has never been presented with an “ask” of this nature? These are just a few of the concerns Convergent helped Phelps County Development Corporation (PCDC), a rural EDO in Nebraska, address on the way to its first successful capital campaign.
The Situation:
Phelps County, Nebraska, a rural agricultural region located close to Interstate 80, is known for its fantastic quality of life and for offering significant advantages to businesses looking for a convenient location and a qualified workforce. Despite its many positive attributes, the region has historically dealt with “brain drain,” especially among many of the county’s young adults. To combat this, the Phelps County Development Corporation (PCDC), the county’s primary economic development engine, had a series of ideas to keep younger workers and families in the region and to recruit more well-paid manufacturing jobs.
“Phelps County is a wonderful place to live and work,” said Monica Boyken, Former Executive Director, PCDC. “Not surprisingly for a rural community, many young workers choose to leave for larger, more urban environments at some point. However, we find that many families realize what they are missing and eventually express a desire to move back. Our goal is to make moving back—or staying in the first place—a more attractive option by creating even more high-paying and stable jobs.” With these goals in mind, PCDC engaged Convergent to implement its first-ever capital campaign.
Funding Goals:
Secure campaign commitments of $1,000,000
Educate the board of directors about the need for a capital campaign and the need to engage professional fundraising consultants
Generate buy-in from a business community that had never been presented with a campaign of this nature
The Challenges:
PCDC had never run a capital campaign in the past, but its leaders decided that a major focus on fundraising was necessary to promote economic development in the region. Most notably, PCDC set out to tackle two large undertakings: secure a large tract of land to encourage businesses to locate in the region and implement a scholarship program to encourage young workers to stay home after graduation.
The Convergent Approach:
One of Convergent’s main differentiators is our ability to manage an entire campaign start to finish, from conducting a feasibility study and gaining a full understanding of our clients’ marketplace, to setting the campaign goal and ultimately, making the “ask.” Part of this approach includes having a full-time Convergent consultant living and working in the community during the campaign.
In the case of Phelps County, Convergent immediately understood how important this would be. The feasibility study, which included interviewing several key regional business leaders—and genuinely soliciting their input—led to Convergent’s realization that educating potential investors would be critical to the success of the campaign. The absolute need for job creation and talent retention was pointed to as a key to the future viability of the region. While PCDC had never run a capital campaign in the past, this approach proved to be extremely effective in a business community that understood the need to act aggressively. Nearly two-thirds of the prospects receiving a formal presentation pledged.
The Results:
The campaign secured a total of $1,349,400 in commitments; 135% of the original project goal
PCDC was able to purchase 134 acres of land to attract business and industry
PCDC implemented a “High Demand Scholarship Program” to encourage individuals to remain in Phelps County
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Raised
$1,349,400
“As a result of the success of this campaign, every decision we make as an organization is made with confidence due to our budgetary stability, rather than speculation. The campaign set us up for years to come.”
Monica Boyken, Former Executive Director, Phelps County Development Corporation
Testimonials
Andrew Keenan
“The fact that Convergent could make the ask was huge. Working with our director and joining solicitations made me a better fundraiser – that was the right formula for us. Moving forward I feel much more confident in making asks and telling our story, and that is going to make us more sustainable in the long run.”
Andrew Keenan, Executive Director Callanwolde Fine Arts Center | Atlanta, GA
Lisa Zaken
“In the span of six short months, our Board went from being nervous about the initial campaign investment to being ecstatic with the attainment of our goal, and our subsequent stretch goal! Convergent can do it like no other. Their system is rigorous and extremely effective. We have nothing but great things to say about this organization!”
Lisa Zaken, President & CEO Leadership Gwinnett | Duluth, GA
Dion Davis
“The strategy and support offered by Convergent helped our Board expand its vision for the Foundation, which in turn helped to refocus and redefine our organization's impact in our community. The methodology behind their capital campaign process not only helps to raise more money in the immediate, but it also builds best practices for long-term investor relations and lays groundwork for the success of future funding initiatives.”
Dion Davis, Former Executive Director Jekyll Island Foundation | Jekyll Island, GA
Robin Mauck
“Working with Convergent has been a pleasure all the way around. Their approach is customized to your organization and their expertise is unmatched in the field. The Convergent team immersed themselves in our process, culture, and goals to provide exceptional value during our campaign. They truly walk alongside you every step of the way!”
Robin Mauck, Executive Director Obria Medical Clinics Gwinnett | Lawrenceville, GA
Aimee Hall
“I loved working with Convergent. I never could have done what Convergent did. If you want to run a successful campaign, you need to bring in that expertise. Thanks to their help, our capital campaign really took us to the next level within our community.”
Aimee Hall, Executive Director Safe Homes Domestic Violence Center | Augusta, GA
Phillip Aldridge
“I wanted to thank everyone from the Convergent team who assisted in our campaign. Of the varying ways the campaign’s success may be measured, I count it a blessing that we achieved what we did. Not just the funds committed but the contacts made, the level of exposure reached, and ultimately, what the funds and exposure mean in terms of how many more we now serve as a result. My thanks is in recognition and appreciation for Convergent serving as our fundraising counsel and for the patience and professionalism demonstrated throughout the campaign. You were a godsend for Valley Healthcare!”
Phillip Aldridge, Board Chair Valley Healthcare System | Colombus, GA
Jeff Taylor
“Early in our campaign feasibility study it became apparent that we lacked the Asking Rights necessary to conduct a capital campaign. As a result, Convergent’s knowledgeable consultants prepared an extensive plan of action that is a road map for growing our awareness and philanthropy. A successful capital campaign will be possible in the near future. Their entrepreneurial approach will definitely get you where you want to go.”
Jeff Taylor, CEO MedCura Health, formerly Oakhurst Medical Center | Stone Mountain, GA
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The Situation: 
Funding Goals: 
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The Convergent Approach: 
The Results: 