The Use of Capital Campaigns to Facilitate Successful Healthcare Philanthropy

Due to financial constraints, urgent investments or even cutting-edge medical research projects with high financial requirements cannot be realized. The acquisition of major donations as an additional source of funding can contribute to this. Crucial here is the knowledge of the most potent donor target group - the high-net-worth individuals (HNWIs = financial assets of at least $1 million, UHNWIs = financial assets of at least $30 million) as major donors. However, there are hardly any comprehensive empirical data on wealthy individuals as donors to cutting-edge medical projects in Germany. This study, therefore, examines for the first time the functionality of major-donor fundraising explicitly for hospitals from two different perspectives - of hospital directors and high-net-worth individuals themselves. The study follows a mixed-methods approach, combining the three sub-studies. The study clarifies that UHNWIs and HNWIs in Germany are willing to become socially involved and that hospitals represent an attractive object of donation for them in terms of a large donation not only during their lifetime but also after their death. However, hospitals do not approach high-net-worth individuals consistently, effectively, and sustainably. This is because German hospitals are not appropriately structured and staffed to meet the wishes and needs of the target group adequately. For the future, a major rethink is coming to hospitals because major gift fundraising cannot be established as an additional funding source without first making a significant investment.