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Is This a Bad Time for a Fundraising Campaign

In this episode of The First Day from The Fundraising School, host Bill Stanczykiewicz, Ed.D., is joined by the philanthropic powerhouse himself, Gene Tempel, Ed.D., Dean Emeritus and founding father of the Indiana University Lilly Family School of Philanthropy. Together, they dive headfirst into a question that keeps many nonprofit leaders up at night: “Is this a bad time to launch a capital campaign?” The answer? Well, let’s just say it’s complicated, but not impossible. Gene reminds us that before we start counting pledges, we’ve got to answer the most basic question: What’s the compelling case for support? It’s not about shinier buildings or more vans, it's about fulfilling the mission and addressing urgent needs in society. Now, if you’re waiting for a perfect economy, spoiler alert: you’ll be waiting a long time. From the energy crisis to the Great Recession to COVID, Gene’s seen it all, and fundraisers kept fundraising. Instead of running from uncertainty, nonprofits should focus on preparation. That means digging into the test for readiness, planning like it’s a chess game (hello, “what-if” scenarios), and launching feasibility studies that give donors the mic. Because, as Gene points out, “not everyone is affected the same way” in tough times. Some donors are doing just fine and may even be more ready to give than you think. Gene takes us inside the anatomy of a capital campaign and zeroes in on the often-forgotten “middle of the gift range chart,” the fundraising Bermuda Triangle. We know our biggest donors. We love our annual givers. But what about those $2,000 donors who could be cultivated into $25,000 champions? “That’s where it breaks down,” Gene says. Building systems to engage mid-level donors isn’t just smart, it’s essential. It’s also okay to fail the readiness test, pause a campaign, or renegotiate pledge timelines. Flexibility is not a weakness. It’s leadership. Gene offers some pop-culture perspective: as Billy Joel once sang, “We didn’t start the fire,” and neither did you. History is full of crises, but capital campaigns still thrive. “If you have a compelling case, urgency, internal readiness, and donor validation,” Gene says, “then go forward.” And if things go sideways? Adjust, adapt, and keep your eyes on the mission. Because fundraising isn’t just about money, it’s about movement. And thanks to legends like Dr. Tempel, this movement’s got a playbook for every season.