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Capital Campaigns and Fundraising Keep Rural Healthcare Facilities State of the Art

Compeer Financial
Home > Education & Events > May 2017 > Capital Campaigns and Fundraising Keep Rural Healthcare Facilities State of the Art

There’s no arguing that some of the most vital institutions in rural America are health care organizations, quite often organized as not-for-profits.  These organizations are financially supported by the communities through taxes, community patronization and fundraising efforts.

Maintaining sound business practices and building good relationships with local governments are critical to the success of any nonprofit health care organization, but let’s not overlook the importance of philanthropy.

Improving philanthropic efforts provides benefits to health care institutions, which directly benefits the community and can be critical to maintaining independence.  Things like delivering higher quality services and increasing the variety of services offered are just a few benefits that can be attained through philanthropy. But let’s not forget the other benefits of these efforts, such as engagement, sharing of ideas and creating solidarity among the people of the region.

There are generally two segments to nonprofit philanthropy, fundraising and capital campaigns:

Capital campaigns – time-limited efforts to achieve a specific goal (like raising funds for brick and mortar endeavors).

Fundraising – ongoing effort to sustain and build capital to support an operation.

Maintaining these efforts on a continual basis can help build strong and successful organizations.

General elements of successful fundraising or capital campaigns include being well organized, setting clear goals, developing a strong communication plan, having a well-developed plan for engagement and a solid strategy. This requires the engagement of the entire board, as well as management.  Any one of these elements can be the key to a successful philanthropic group, so it’s important to develop solid leadership that can contribute to each item.

Leadership at this level is key to developing and driving the execution of the vision, so getting the right community member on board at this level deserves proper consideration.  Sometimes having board members from outside the community can be beneficial as they may provide unique perspectives not observed by local community members and could shift the framework from thinking locally to regionally.  If you’re thinking of building a new facility, remodeling or adding on, consider getting your board engaged well in advance to provide plenty of runway for planning and strategy development.

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