A feasibility study tests the viability of your potential capital campaign with your most loyal and generous donors.

It gives you the best possible insight into a campaign’s chances of success. It can also help you understand a project’s appeal, and what might need to be adjusted in order to reach a broader audience.

The feasibility study operates from a simple premise: if you are able to hear from your key stakeholders what they care most about and at what level they might support the project, you can establish a realistic working goal.

I've said it before and I'll say it a hundred times more: before embarking on a capital campaign, a feasibility study is the most valuable and wisest investment a school can take.

Similarly, a "capacity study" gives much-needed insight into what a school might be able to raise from its top supporters in advance of a capital moment. It is an analysis of giving data and prospect research.