Expert Economic Development Fundraising to Boost Your Impact
At Convergent, we understand the importance of economic development organizations (EDOs) and the role they play in communities across the nation. Local economies attract new talent, leading to workforce development, increased DEI, and, on a larger scale, economic mobility. To continue making an impact, you need to secure reliable funding.
What happens if you can’t access the funds you need to support your EDO’s community? Convergent’s fundraising experts can help.
Convergent is ready to help your EDO meet and exceed its funding goals by offering the following services:
Feasibility Studies: Is your EDO ready for a capital campaign? We’ll gather candid insights from your key stakeholders and community leaders to assess readiness, identify potential challenges, and uncover untapped support.
Capital Campaign Management: We will handle everything related to your capital campaign—from identifying prospects to facilitating funder meetings and planning campaign materials—so that you can focus on your mission.
Development Audits and Assessments: Is your EDO experiencing stagnant or declining fundraising results? Or are you trying to improve funder relationships and engagement? Whatever your goal, we can audit your organization to diagnose fundraising gaps and align staff and board expectations.
Resource Development: Planning to scale your organization? We offer customized plans that help your EDO grow sustainably.
Case Studies
Hear from some of the EDOs that Convergent has helped over the years.
How does economic development fundraising differ from traditional charitable giving?
What sets economic development fundraising apart from traditional nonprofit fundraising is its goals. While traditional nonprofit fundraising addresses social needs, such as providing emergency food, medical supplies, or disaster recovery, economic development fundraising aims to generate investments for infrastructure, job creation, and systemic wealth-building.
Is a feasibility study necessary before an economic development campaign?
Yes, a feasibility study is necessary before launching an economic development campaign because it serves as a critical market test, ensuring your strategic plan aligns with local investors' priorities and financial capacity. If you launch a multi-year campaign without a thorough assessment, you may end up pursuing initiatives that local business leaders are not willing to support.
During a feasibility study, consultants will interview your key stakeholders to gauge their reaction to the proposed initiatives. This process not only identifies the total amount of capital your EDO can realistically raise, but also helps uncover potential campaign leaders and build early buy-in from the community.
How can EDOs prove their value to potential investors?
To prove your ROI to potential investors, EDOs must move beyond qualitative mission statements and utilize data-backed metrics that show how the investors’ capital directly contributes to specific regional wins, such as:
Job metrics: Track the number of new jobs created, retained, and supported by your workforce initiatives.
Capital investment: Measure the total private capital investment attracted to the region as a result of business expansion or recruitment efforts.
Community impact: Quantify metrics like infrastructure improvements, housing stock growth, or local tax base expansion.
How does an EDO maintain funding momentum between major campaigns?
EDOs maintain funding momentum between multi-year campaigns by implementing a robust investor retention strategy that includes:
Tiered annual giving: Many EDOs follow an annual-giving model, offering benefits such as exclusive access to workforce data and a network in exchange for financial support.
Asset and service monetization: Some EDOs generate revenue from their real estate, parking facilities, and other assets. Additionally, others get their revenue from specialized research, site-selection consulting, and international trade missions.
Grant acquisitions: EDOs sometimes partner with local institutions, such as universities and government agencies, to secure competitive grants for workforce development, infrastructure, and other community initiatives.
Ready to Grow Your Economic Development Organization?
When you are ready to get the support you need to thrive, contact Convergent with details about your EDO, and our expert consultants will be in touch with information about how we can help. With the right resources and experience on your side, you can meet and exceed your funding goals.
Convergent Nonprofit Solutions was the easiest choice for us. Their nonprofit knowledge, economic development experience, and understanding of the complexities that exist in public-private partnerships like ours was the trifecta. The Convergent team executed a feasibility plan that we continue to use today and a retention strategy that assists in retention and recruitment of our investors. The information, influence, and connections brought to our table by the Convergent team solidified our role in the community as the regional leader in business and economic development.
Megan Lucas Lynchburg Regional Business Alliance
Beth Hannam
I would absolutely recommend using Convergent. We were very pleased with our results. Not only did we raise more money than we thought was possible (15% over goal), we did it six weeks ahead of schedule and under budget! I don’t think we would be where we are today without their guidance.
Beth Hannam Sandusky County EDC
Lee Crume
We really liked Convergent's approach in looking at the science in terms of what the benefits would be to the community and quantifying that. They took an analytical approach as opposed to simply running a campaign.
Lee Crume Northern Kentucky Tri-ED
Rick Dickinson
We can count on them to provide solid recommendations for our campaign, specific enough that they offer direction but broad enough that they aren't limiting. We’ve had good experiences with each study Convergent has done, but I have to say this was the best one despite the challenges of a global pandemic. We were very pleased.
Rick Dickinson Greater Dubuque Development Corporation
Rod Crider, CEcD, CCE
I’ve worked with Convergent on four campaigns now and their concern for our success, along with their integrity and professionalism, are the reasons that I will continue to use them in the future.
Rod Crider, CEcD, CCE Rowan Economic Development Commission
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
Giving USA 2026 is being celebrated as a banner year. Look underneath the headline and a different story emerges — one that explains why an investment-driven approach to fundraising matters more now than at any point in the last 40 years.Americans gave a record $617.20...
Many nonprofits struggle with unpredictable fundraising cycles, relying on short-term grants, annual campaigns, and event-based revenue streams. This reactive approach leaves organizations vulnerable to economic shifts, grant expirations, and donor fatigue. Your nonprofit may be feeling this stress right now, given the uncertainty in federal...
FOR IMMEDIATE RELEASEMarch 1, 2026For more information, contact:Brian Abernathy, General ManagerEmail: babernathy@convergentnonprofit.com Phone: 678.835.8735 ATLANTA, GA — At the International Economic Development Council Leadership Summit, March 1–3, Convergent announced its merger with Resource Development Group. Effective immediately, RDG will operate as RDG, a Convergent Company. This partnership unites...
Fundraising feasibility studies are the foundation of successful capital campaigns. Starting a major campaign without one is like starting a road trip without a map—it will be challenging to reach the desired destination.At Convergent Nonprofit Solutions, we have a proven process for conducting feasibility studies...
Economic development organizations (EDOs) now operate in a markedly different environment than five years ago. Population changes, labor fluctuations, housing pressures, and infrastructure demands impact communities of all sizes. Expectations have evolved, with business leaders, officials, and residents seeking EDO engagement on issues beyond business...
