Capital Campaign Committee
The campaign committee is being formed now. It will begin to meet twice monthly in mid-
October. Its first task will be to identify lead prospective donors, identify who is the best
member of the committee to approach them for a gift, and identify what about the
project is likely to be of highest interest to them. Solicitation visits will then commence
and continue until the projected 14 leadership gifts are secured. As noted above, the
leadership gift phase is critical to a campaign’s success.
These are private, ongoing conversations with donors that take time. Many donors to
capital campaigns contribute once they feel the chance of success is high. This is
especially true with the Performing Arts Center because it is a start-up entity.
While the lead gifts are being sought, the newly formed campaign committee, the work
group with support from City staff, and Full Circle Consulting will apply to the NH
Community Development Finance Authority for an allocation of state tax credits. The due
date for this application has not yet been announced; the annual deadline is usually in
March or April with award allocations announced in June.
The major gift phase represents a broadening of the circle of prospective donors and
volunteers. The campaign committee will continue to meet twice-a-month, and in
addition to one-on-one meetings will organize small events at private homes and seek
private foundation support. Through this phase a projected 41 gifts will come in, and the
campaign will reach 90% of its goal.
If CDFA Tax Credits are allocated to the project, the campaign committee will sell them to
area businesses. More information on CDFA Tax Credits may be found here.
The public phase is when hundreds of donors join in and give at whatever level they are
able. Clearly, the Performing Arts Center will accept contributions of any size at any time,
but this phase is when the effort is made to secure a large number of smaller gifts.
Activities include social and traditional media campaigns, special events, and direct mail.
Donors to all phases of this campaign may make their contributions over a period of
three to five years so that an individual interested in giving $10,000 to the campaign in
one year could make a $50,000 gift by contributing $10,000 a year for five years.
New Market Tax Credits
City staff and a New Market Tax Credit Consultant have begun the process to apply for
and secure an allocation of New Market Tax Credits. The expectation is that they will have
a letter of commitment in the second quarter of 2019 with cash available for the project
by the end of 2019.
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