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Using Prospect Research to Boost Giving

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Introduces prospect research, how it fits into the fund-raising program, and discusses data-mining, wealth screening and prospect profiling. Also included is some information on prospecting in a …

Introduces prospect research, how it fits into the fund-raising program, and discusses data-mining, wealth screening and prospect profiling. Also included is some information on prospecting in a recession.

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  • 1. www.AspireResearchGroup.com Using Prospect Research to Boost Giving Presented on Using Prospect Research 13 Jan 2009 Page 1 to Boost Giving Jennifer J. Filla President Aspire Research Group LLC 13 January 2009
  • 2. Defining Prospect Research Using Prospect What is it? Privacy Concerns* Research to Boost Giving • Anonymous collection, • Appropriation Presented on summary, analysis & • Intrusion 13 Jan 2009 presentation Page 2 • Public Disclosure of • All public sources Private Facts • False Light APRA Statement of Ethics on www.aprahome.org The ONLY purpose for the researched information is to help you develop a deeper relationship with your prospects and donors. *(Source: Wites & Kapatan, P.A., Florida Litigation Guide, retrieved on 11/28/08 from: http://www.floridalitigationguide.com/guide/35.php)
  • 3. What makes a good prospect? Using Prospect Research to Boost Giving Presented on 13 Jan 2009 Page 3 – Recency – Frequency – Longevity ● Income ● Assets
  • 4. Research in the Cycle Using Prospect Data mining Research to Wealth Screening Screening confirmation Boost Giving Peer Review Prospect Profiles Presented on 13 Jan 2009 Page 4 Database
  • 5. Identify with Data Mining Finding prospects inside your database Using Prospect Data mining analyzes the information contained in your database and Research to Boost Giving finds patterns that suggest or predict which types of people are more likely to give at various levels. This method can use advanced Presented on 13 Jan 2009 statistical models as well as simple filtering searches. Page 5
  • 6. Data Mining Querying on indicators Using Prospect Research to Affinity and Inclination Wealth Boost Giving • Recency, frequency & • Securities Presented on 13 Jan 2009 longevity • Occupation/company Page 6 • First gift is a big one or ownership a pledge • Real estate • Giving increases • Family tree • Attendance at events • Luxury items and/or volunteering • Age • Benefited from services • Giving history – private • Giving history – private foundation foundation Note on Planned Giving: Affinity + Age
  • 7. Identify with Screenings Prioritizing your Prospects Using Prospect Research to • Vendor wealth screenings Boost Giving Presented on – Blackbaud Analytics 13 Jan 2009 Page 7 – DonorSearch.net – Target America – Wealth Engine • Board and staff review
  • 8. Using Prospect Research to Boost Giving Presented on 13 Jan 2009 Page 8
  • 9. Research for Wealth Prospect Profiling Using Prospect Elements of a Prospect Profile Research to Boost Giving • Biographical Presented on 13 Jan 2009 – Age, family, education Page 9 • Giving – Gifts, community involvement, family foundations • Occupation • Assets – Securities, real estate, collections, luxury items • In the News
  • 10. Impact of Recession National Business Sector Trends Using Prospect Research to Declining Recession-Proof Emerging Boost Giving • Financial • Funeral homes • Info services Presented on 13 Jan 2009 – Banking • Tax accountants • Computer systems & Page 10 – Investments • Bankruptcy lawyers Software – Mortgages • Waste collection • Employment services • Housing – Real estate • Debt collection • Mgmt, science & – Construction • High-end personal technical consulting • Automotive services like cleaning • Home health care and lawn care • Childcare services • Bartering & trade like CraigsList • Motion picture/video • Soup & food staples Source: Inc.com, 2005
  • 11. Impact of Recession Florida Forecasts 2009-2011 Using Prospect • Positive growth is forecasted for Education Research to Boost Giving and Health Services (2.5%). Presented on 13 Jan 2009 • Florida’s housing construction sector Page 11 bottoms out later and lower than expected in the second quarter of 2009. • Professional and Business Services and Leisure and Hospitality both will contract slightly on average (-0.03%). Source: Florida & Metro Forecast by the Institute of Economic Competitiveness, UCF College of Business Administration, December, 2008.
  • 12. Analyzing Giving Trends Using Prospect • Entrepreneurs are less likely than all other donors to give to Research to Boost Giving environment or religion. They are more likely to give to a Presented on foundation, for international aid or for human services. 13 Jan 2009 • Investors were more likely to give to education, Page 12 environment, foundations, and religion. They were not less likely than people with other types of wealth to give to any particular type of charity. • Donors with wealth from real estate were more likely than other donors to give to campus-wide initiatives and to “service-related” fields. They were less likely to give for science or technology, and no gifts were reported to libraries. Center on Philanthropy at Indiana University. 2008. An Analysis of Million Dollar Gifts: January 2000 – September 2007. (New York: CCS).
  • 13. Determining the Ask Amount Using Prospect Research to Boost Giving • Explore during cultivation why the Presented on 13 Jan 2009 prospect gives to you and/or others Page 13 • Review the capacity rating and the history with your organization • How close is the prospect? A first gift, step-up gift, or stretch gift? • Choose an amount that fits the prospect’s ability and the organization’s need
  • 14. True or False Using Prospect 1. All information found in the public domain is Research to Boost Giving suitable to include in a profile Presented on 13 Jan 2009 2. You have to buy data mining and wealth Page 14 screening services 3. Research can learn how much is in a trust fund 4. If you use a wealth screening vendor, you don’t need a profile before a major gift solicitation 5. A loyal donor without any typical wealth indicators is a good planned giving prospect
  • 15. Free Resources Online: Articles, Tip Sheets, Sample Profiles, Presentations, Newsletters, Link Lists Using Prospect Research to Using Prospect Research Boost Giving Presented on to Boost Giving 13 Jan 2009 Page 15 by Jennifer J. Filla President Aspire Research Group, LLC 610.566.5113 jen@aspireresearchgroup.com www.AspireResearchGroup.com Copyright Notice You are encouraged to copy, distribute, and display this work for noncommercial purposes as long as you provide credit to Aspire Research Group and do not alter, transform, or build upon this work. Feel free add a link from your website to: http://www.aspireresearchgroup.com/Documents/PResearch2BoostGiving.AFP2008