Watch the video below to learn the key steps included in the investment campaign model. This best practices approach is a proven and highly successful way to secure the funding needed to implement a wide variety of economic development initiatives. You can also continue reading below for the full video transcript.
The best practices approach for funding economic development organizations or the economic development initiatives of chambers of commerce is through an investment campaign. The investment campaign model for funding economic development essentially works like this:
First, you develop a multi-year strategic plan or program of work. Three to five years is typical. The program should encompass everything that you want to do for your community within that time frame, all the items that you'd like to work on; new business recruitment and attraction, existing industry retention and expansion, workforce development, whatever the right strategies are for your organization and your community. You'll also develop a multi-year budget and establish big-picture, long-term goals for what you would like the program to accomplish.
Then, you undergo what is pretty much a traditional nonprofit capital campaign process to secure multi-year pledges, funding commitments, from your stakeholders. In an economic development campaign, the primary stakeholders are the local business community. Then, with funding secured, you focus on implementing your program of work, attaining your big picture goals, and in the process, providing a return on investment to your stakeholders, your investors. Essentially, as you work to grow your local economy you'll be helping local businesses to prosper.
At the end of the three to five year period, you basically repeat the process. You develop a new plan, you establish a new budget, you set new big-picture goals, and you justify a fresh round of investment from your investors. Typically, the funding levels increase cycle over cycle. Hundreds of economic development organizations and chambers all over the country have adopted this model with much success. In fact, some organizations are in their sixth, or seventh, or eighth multi-year cycle and have literally been doing this for decades with great results.
Convergent's role in the process is at the outset of each cycle. We can help you to frame up the strategic plan in a way that maximizes investor appeal and thenconduct the capital campaign. We can actually go out secure the funding for you so that you have the resources needed to implement a program of work that produces the outcomes your investors value.
I am passionate about empowering nonprofits to accomplish the extraordinary for the communities they serve. Although much of my career has focused on raising money for economic, workforce, and community development organizations (chambers of commerce, EDCs, etc.), I truly love the diversity of our clientele and the interesting variety of projects I get to work on. From public libraries to private schools, from senior assisted living facilities to YMCAs, and even from a puppetry arts group to a ski jump club, I’ve had the chance to help so many great client organizations raise the money they need to fulfill their missions. I love my work!"
As a founding Principal of Convergent Nonprofit Solutions, Mark focuses on empowering nonprofits to accomplish more for the communities and constituencies they serve by dramatically increasing their financial resources. He is recognized as one of the leading national experts in funding nonprofit organizations and community initiatives through fundraising campaigns.
Mark has managed and consulted on fundraising campaigns for a broad array of nonprofits, however, the bulk of Mark’s career has been spent securing funding for chambers of commerce and economic development corporations. His experience ranges from working in small, rural communities of a few thousand people to major metro areas, regions, states, and even national projects. Mark’s specialized expertise includes transitioning membership-based organizations into investment-based organizations, forging public/private partnerships, forming and capitalizing new economic development organizations, and establishing regional economic development collaborations.
Summary of Experience
Directed and provided oversight for more than 80 feasibility studies and fundraising campaigns for organizations nationwide, raising hundreds of millions of dollars for a wide variety of nonprofits.
Conducted dozens of successful high-profile six, seven, and eight-figure funding requests.
Managed major feasibility studies and/or capital campaigns with eight-figure goals in large metro markets such as Orlando, Atlanta, Indianapolis, and Seattle.
Led workshops and participated in panel discussions at more than a dozen statewide, regional, national, and international conferences and events for economic development professionals, chamber executives, and nonprofit leaders.
Authored two legal reference books, a research paper in an international academic journal, and numerous articles on fundraising and other nonprofit concerns.
BA in Political Science from Emory University and a law degree from the University of Georgia, School of Law. Member of the bar in both Georgia and Florida.
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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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