Fundraising is a constant challenge for nonprofits and associations, which often rely on periodic drives for the majority of their revenue. But sometimes, these organizations need to embark on specific fundraising projects for large scale purchases or investments. That's when it is time to launch a capital campaign.

A capital campaign, in short, is an effort to raise money for a particular need. Building purchases are a common goal, since growing nonprofits often need to move into larger facilities when they outgrow the ones they currently occupy. However, this is far from the only thing that a nonprofit organization might have to purchase.

Because of the narrow nature of capital campaigns, they are often run differently than general fundraising drives. First and foremost, organizations must define exactly what they need and be prepared to make their case to potential donors. In some cases, a feasibility study then becomes necessary, as the organization needs to establish specific details about the project, such as location and cost. Finally, organizations should form a capital campaign committee to oversee the fundraiser and the project itself.

Though they can be more difficult to carry out, capital campaigns do carry some advantages. For example, high profile donors to buildings are often granted the opportunity to name the structure once it is finished. It is also true that the completion of a major project can help a nonprofit boost its own name recognition, which is particularly useful for future fundraisers.

For the members tasked with running these campaigns, it can feel quite different from what they might be used to. However, many training programs are available to help ease the process.

When organizations have big purchases to make, they often rely on capital campaigns.