Microsoft Power Point Prospect Research Training 3/2009


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Prospect Research Basics, presented for APRA MO/KAN Chapter, March 26th, 2009

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  • Microsoft Power Point Prospect Research Training 3/2009

    1. 1. <ul><li>PROSPECT RESEARCH BASICS </li></ul>2009 APRA MO-KAN Maryrose Larkin, Northwest Research [email_address]
    2. 2. What Is Prospect Research Anyway? <ul><li>Prospect research is the collection, synthesis and dissemination of information on </li></ul><ul><ul><li>Individuals </li></ul></ul><ul><ul><li>Corporations </li></ul></ul><ul><ul><li>Foundations </li></ul></ul><ul><li>Prospect researchers collect, analyze and present information about entities that might be interested in providing funding, or other help, to a non-profit organization </li></ul>
    3. 3. What Is Prospect Research Anyway? <ul><li>In a donor-centered universe, prospect research is the systematic retrieval and synthesis of information on potential donors in order to discover how to marry the interests of a potential donor with the interests of your non-profit. </li></ul>
    4. 4. What Is Prospect Research Anyway? <ul><li>Its not just about the money? </li></ul><ul><ul><li>Prospect Research focuses on wealthy individuals, however </li></ul></ul><ul><ul><ul><li>Researchers work to find family history, affiliations, connections, past giving, company histories and any other publicly available information that may be helpful in cultivating, soliciting, or stewarding a donor. </li></ul></ul></ul>
    5. 5. Why research your prospects? <ul><li>Donor Research gives you the tools to effectively serve your donors. </li></ul><ul><li>Major donor identification and donor research allows you to use your limited resources in the most effective manner. </li></ul><ul><li>Learning everything you can before soliciting a gift increases the success of your fundraising endeavors. </li></ul>
    6. 6. Are you a private detective? <ul><li>Prospect researchers only use legal, publicly available sources </li></ul><ul><li>Prospect researchers, as a profession, adhere to the APRA code of ethics, which advises researchers on confidentiality, relevance, honesty, accuracy and accountability </li></ul><ul><li>Unlike a private detective or a journalist, prospect research is never adversarial in nature. </li></ul>
    7. 7. Research Ethics <ul><li>Association of Prospect Researchers for Advancement (APRA) has a Statement of Ethics specific to research </li></ul><ul><li> </li></ul><ul><li>Association of Fundraising Professionals (AFP) has several articles about ethics: </li></ul><ul><li> content_item_id=1068 </li></ul><ul><li>Council for Advancement and Support of Education also has articles about ethics: </li></ul><ul><li> </li></ul><ul><li>Donor Bill of Rights </li></ul><ul><li> </li></ul>
    8. 8. Confidentiality <ul><li>Any organization collecting prospect or any other type of confidential or sensitive information should develop a written confidentiality policy and should require anyone who uses or who has access to this information to sign a confidentiality statement </li></ul><ul><li>Although all information collected in the research process is from publicly available sources, it is important to treat prospect research information and documents as confidential to protect the privacy of your donor. </li></ul>
    9. 9. What sort of information do researchers seek? <ul><li>Biographic information, including family, education, professional and business information. </li></ul><ul><li>Financial information, including real estate holdings, “insider” stock holdings, and salary estimates. </li></ul><ul><li>Affinity and Connections, including giving, political, and volunteer information </li></ul>
    10. 10. What sort of information do researchers seek? <ul><li>Business Information, including public company holdings, private company holdings and net income estimates, previous businesses and business connections </li></ul><ul><li>Foundation information, including grants given, board members, foundation assets and stated purpose of foundation </li></ul>
    11. 11. Where do researchers look? <ul><li>LIBRARY SOURCES </li></ul><ul><li>Newspapers, Journals and Magazines—usually used through library. This includes trade magazines </li></ul><ul><li>“Who’s Who” and other biographical databases </li></ul><ul><li>Business Sources, including databases such as Dun and Bradstreet, and Reference USA </li></ul>
    12. 12. Where do researchers look? <ul><li>Public Records—including real estate and corporate databases </li></ul><ul><li>Foundation Sources—Guidestar, FC Search and Foundation Search </li></ul><ul><li>The Internet </li></ul><ul><ul><li>Plan your search </li></ul></ul><ul><ul><li>Use search strategies including exact search, city search, and site search </li></ul></ul><ul><ul><li>Consider the sources </li></ul></ul>
    13. 13. <ul><li>Specialized Databases </li></ul><ul><ul><li>Insider stock trading and SEC databases </li></ul></ul><ul><ul><li> </li></ul></ul><ul><ul><li>Tax assessor database </li></ul></ul><ul><ul><li>Proprietary databases, including Wealth Engine, PIN!, Lexis/Nexis etc. </li></ul></ul>Where do researchers look?
    14. 14. What You Can’t Find <ul><li>Stock holdings </li></ul><ul><li>Private company stock holdings </li></ul><ul><li>“ Old” Wealth </li></ul><ul><li>Company Employee Lists </li></ul><ul><li>Net Worth </li></ul>
    15. 15. Net Worth and Gift Capacity <ul><li>Net Worth=All Assets - All Liabilities </li></ul><ul><ul><li>Prospect Research is at best able to estimate net worth. Only an individual (and his accountant) are actually able to assess net worth </li></ul></ul><ul><li>Gift Capacity Ratings </li></ul><ul><ul><li>Prospect Research provides a gift capacity rating. This rating is based on known assets, and other giving. These ratings are based on giving demographics. </li></ul></ul>
    16. 16. Sometimes…. <ul><li>Sometimes, Prospect Research winds up ruling out a donor </li></ul><ul><ul><li>“Big Hat No Cattle” </li></ul></ul><ul><ul><li>Multiple Refinances on a home usually means “home rich, cash poor” </li></ul></ul><ul><ul><li>Some individuals have other major philanthropic commitments </li></ul></ul><ul><ul><li>Some individuals are more interested in donating their time, connections and energy. </li></ul></ul>
    17. 17. Tips for Prospect Research <ul><li>Determine the type and level of data needed </li></ul><ul><li>Talk to your college and local librarian about good places to search </li></ul><ul><li>Organize the search—Use a checklist </li></ul><ul><li>Look for patterns, connections and openings </li></ul><ul><li>Be timely </li></ul>
    18. 18. Useful sites <ul><li>APRA National and Local </li></ul><ul><ul><li> </li></ul></ul><ul><ul><li> </li></ul></ul><ul><li>My sites </li></ul><ul><ul><li> </li></ul></ul><ul><ul><li> </li></ul></ul><ul><li>Internet Prospector </li></ul><ul><ul><li> / </li></ul></ul>
    19. 19. Things I can send to you on request <ul><li>Sample Checklist of Sources </li></ul><ul><li>Handouts on finding prospect donors, screening companies, and assessing gift capacity </li></ul>
    20. 20. QUESTIONS <ul><li>[email_address] </li></ul><ul><li>Northwest Research 503-819-9455 </li></ul>