How Will SCRC Raise the Millions of Dollars Required to Build this Facility?
Local Donations vs. Capital Funding Campaign
As you already know, SCRC has decided to scale-back our project, (full details here,) which has given everyone renewed enthusiasm over the project. The previously proposed Smelter City Recreation Complex required $40 million in funds. Our new proposal requires approximately $8 million.
That difference is a significant one; however $8 million is still no small sum. One of the first questions we receive when we present SCRC to the community is, "how do you ever expect to raise multiple-millions of dollars in our small town and county?" The answer is, we don't - not completely.
Given the frequency with which this question comes up, we thought it would be worthwhile to explain our fundraising efforts as we approach year-end and ask for your support. More specifically we want to give clarity to the inquiry regarding how local donations collected today are used, versus the role of our capital funding campaign.
A capital funding campaign is a complex, concentrated effort to raise a significant sum of money for a specific project. Nonprofit organizations like SCRC commonly utilize this approach in their efforts to construct new buildings. Capital campaigns entail meetings with notable large-scale donors who believe in giving back, and who have extensive funds to do so. The capital funding campaign is where SCRC intends on raising the millions of dollars needed to construct this incredible space.
It is essential that the campaign is well-executed because the outcome will determine whether SCRC will succeed. Launching our campaign requires coordination, professionalism, and experience - which is why our Board of Directors has decided to hire Bannack Group.
Bannack Group is a strategic consulting company out of Bozeman that specializes in conducting feasibility studies and fundraising campaigns for Montana-based nonprofits. We've been meeting with them for over a year with the intent on hiring them when the timing was right. Our hope is that the time is now; but it is contingent upon our 2020 year-end donations.
Due to COVID-19 our fundraising efforts came to a screeching halt this year; and we are still a few thousand dollars short of the $30,200 it will cost to hire Bannack Group. We intend on raising the millions of dollars required to build this facility in our capital funding campaign; however we are unable to launch that campaign without your support today.
Local donations pay our monthly bills. Local donations allow us to have professional meetings in our office space, and to pay our phone and internet bills. Local donations allow us to host fundraising events in non-COVID times. Local donations allow us to hire architectural firms for building designs and demographic researchers to complete professional market analyses. Local donations cover our operational costs; and now, your donation will be used to hire Bannack Group and enable SCRC to present our proposed facility to the individuals/companies that have the means to make this project a reality.
The Montana donors we will meet with for our capital funding campaign want to see that our community is committed to this project. Your giving demonstrates the local desire for this facility. Your giving demonstrates that their giving is worthwhile.
Thank you again for your support and generosity,
Your SCRC Board of Directors
* Please mail donations to PO Box 33, Anaconda MT. 59711.
* Checks must be made out to Smelter City Recreation Complex.
* All donations are tax deductible.
* Our Tax ID# is 81-3281617.