Economic uncertainty makes many nonprofit leaders pause. Boards ask whether this is the right moment to move forward, while staff members wonder how donors will respond.
Fortunately, the data tells a more encouraging story.
The Capital Campaign Pro’s 2026 Capital Campaign Benchmark Study shows that approximately 95% of campaigns have succeeded since 2024, which marked the previous height of inflation and recession concerns. The research also shows that most organizations do not delay their campaigns because of the economy. Even more encouraging, most campaigns report that they do not cannibalize annual funds. Organizations are raising capital dollars while maintaining healthy annual giving.
However, even with this data, launching a capital campaign can feel like a leap of faith. To help your nonprofit navigate running its campaign, here are ten tips for what to do during times of economic uncertainty.
1. Let the Research Give You Confidence
When the broader economy feels unstable, nonprofit leaders often assume donors will retreat. However, the data shows that nonprofits approaching the right donors will still find success. In particular, nonprofits are noticing these trends:
- Increased wealth concentration. The United States has seen continued wealth stratification, with a small number of wealthy individuals owning the majority of assets.
- Continued asset growth for wealthy donors. Even during economically challenging times, the wealthiest donors tend to still see asset growth.
- Increased focus on major giving. As major donors continue to increase their wealth and are relatively unaffected by economic downturns, many nonprofits are drawing an increasing percentage of their campaign funds from a small number of donors.
Currently, campaigns tend to draw 70% to 80% of their funds from a relatively small group of major donors. While engaging mid-level donors may be difficult, nonprofits with strong major donor pipelines should be able to weather economic challenges.
2. Be Bold About a Compelling Need
A capital campaign rises or falls on the strength of its case for support. If your need is clear and urgent, do not let economic uncertainty stop your project. Communities recognize strong visions and will likely support a compelling campaign, regardless of economic conditions.
Additionally, if your nonprofit offers programs that receive increased demands during economic hardships—such as a food pantry or homeless shelter—you can use current conditions as a rallying point to earn more support.
3. Build on an Active Major Gift Program
Campaigns succeed when your nonprofit already has a strong major gifts program. Before launching a campaign, look at your current portfolio of major donors. Are you meeting with them regularly? Do you have a pipeline of prospects? Have you practiced asking for five- and six-figure gifts?
While you can grow your fundraising capacity through your campaign, your initial success will depend on what your nonprofit already has in motion. If you already have strong major gift relationships, capital campaign fundraising will seem like a natural extension of your current strategies rather than an abrupt shift.
4. Stay in the Quiet Phase Until You Reach 70% to 80%
Many campaigns struggle when they go public too early. The quiet phase is where you secure the majority of your campaign’s funding, helping you earn leadership commitments and build credibility.
Best practice is to raise 70% to 80% of your goal before making any public announcements. This gives your nonprofit space to refine your messaging and adjust your strategy based on feedback from major donors. Plus, even with a strong message, public excitement will likely only last so long, and you should only rely on the public part of your campaign to push your nonprofit across the finish line.
5. Strengthen Your Data and Break Down Silos
A successful campaign depends on accurate, accessible donor data. Educational institutions often need to bring together development and alumni relations data, while churches and associations may need to combine membership and giving records.
If your database is fragmented or outdated, make fixing it a priority before launching your campaign. When your data is organized, you’ll be able to:
- Better identify major giving prospects
- Stay in touch with donors throughout your campaign
- Maintain campaign continuity and consistency
When all of your data is easily accessible, you’ll know more about your major donors, leading to more confident fundraising asks.
Getting your tools in place now can make your campaign easier to manage.
6. Conduct a Thorough Feasibility Study
If you have concerns over whether now is the right time to launch a campaign, your feasibility study can provide a definitive answer. These tests will help you:
- Understand donors’ willingness to contribute
- Identify potential lead donors
- Uncover donor concerns or possible obstacles
Often, nonprofits outsource feasibility studies to a third-party consultant. However, increasingly, nonprofits are turning to a guided feasibility study model where they work alongside a consultant to conduct donor interviews. This helps your nonprofit leadership understand exactly where donors stand and if economic concerns might impact their giving potential.
7. Engage and Activate Your Board
Board engagement consistently correlates with campaign success. In general, the more involved a board is, the more likely a campaign is to succeed. Encourage engagement early on by ensuring that board members:
- Understand and support your campaign
- Know their role in your campaign
- Have practical next steps to take to further your campaign
Look closely at who on your board has access to potential campaign donors. Provide training so board members feel comfortable making introductions and participating in solicitations. An engaged board sets the tone for the entire effort.
8. Invest in Staff and Outside Counsel
Campaigns require focus and expertise. A capital campaign consultant can bring structure, accountability, and experience to their partnership with your nonprofit. With their insights, you should be able to set realistic goals, design a long-term campaign plan, coach volunteers, set a budget, and avoid common pitfalls.
Additionally, expand your internal fundraising team. Many organizations add development staff or reassign responsibilities during a campaign to increase their fundraising capacity.
9. Communicate to Protect (and Grow) Annual Giving
One persistent fear is that a capital campaign will drain annual support. However, most nonprofits report that annual funds remain stable throughout their capital campaigns.
Clear communication is key. Explain how capital gifts are separate from annual operating support. Continue to steward annual donors throughout your campaign by holding your regular annual fundraising activities, like auctions, peer-to-peer campaigns, and online giving campaigns.
10. Keep the Mission Front and Center
Economic cycles rise and fall, but nonprofits’ passionate missions endure.
When leaders ground their campaign in service to students, families, congregants, or community members, donors respond. People give to impact, not to economic forecasts.
Uncertainty can even clarify priorities. Organizations that articulate a compelling vision and demonstrate responsible stewardship often find that donors welcome the opportunity to invest in something stable and meaningful.
If you’re starting to plan your campaign, having everything in one place helps you stay on track.
Capital campaigns require courage and preparation. The current economic climate may feel unsettled, yet the evidence from the 2026 Capital Campaign Benchmark Study points to sustained success. High completion rates, strong board engagement, widespread use of outside counsel, and steady annual funds all tell the same story.
For small-to-mid-sized nonprofits, the question is less about timing the economy and more about readiness. Do you have a compelling case, committed leadership, strong data, and a thoughtful plan?
If so, this may be the right moment to move forward with confidence.
