There is a field in LCRM called Primary TeamRaiser Registration. The admin that is performing the upgrade must have this field visible on their profile in order to successfully complete the upgrade. Below are the steps by which this field can be added to admin profiles.
  1. In LCRM navigate to Setup > Create > Objects > TeamRaiser Registration > Primary TeamRaiser Registration
  2. Click Set Field Level Security
  3. Click Visible for the appropriate profiles 
You should now be able to successfully complete the upgrade process.