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From Prospect Research to Donor Relations


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From Prospect Research to Donor Relations

  1. 1. From Prospect Research to Donor Relations <ul><li>Andrea Snyder </li></ul><ul><li>Grants Collection </li></ul><ul><li>Enoch Pratt Free Library </li></ul>
  2. 2. What is the Grants Collection?
  3. 3. Goals <ul><li>Why people give </li></ul><ul><li>Why research individuals </li></ul><ul><li>Where to start </li></ul><ul><li>Resources available </li></ul>
  4. 4. Why do we give?
  5. 5. Why research individuals?
  6. 7. Sources of Revenue for Reporting Public Charities, 2004 Private Contributions 12.5% Government Grants 9.0% Investment Income 3.9% Other Income 3.7% Fees for Services and Goods 70.9% Source: Nonprofit Almanac 2007 National Center for Charitable Statistics, the Urban Institute
  7. 8. Private Contributions by Source, 2005 ($ in billions) 76.5% 5.3% 6.7% 11.5% Individuals $199.07 Corporations $13.77 Bequests $17.44 Foundations $30.0 Source: Giving USA 2006, Giving USA Foundation, researched and written by the Center On Philanthropy at Indiana University
  8. 9. Benefits of researching individuals: <ul><li>Provides insight into background and interests; </li></ul><ul><li>Reveals relationships w/others; </li></ul><ul><li>Helps to determine capacity to give; </li></ul><ul><li>Builds the confidence of the person asking for the gift. </li></ul>
  9. 10. Prospect Research <ul><li>Identification of and research of individuals who are capable and interested in giving a substantial gift to your organization. </li></ul>
  10. 11. A Likely Prospect: <ul><li>Has all three qualities: </li></ul>capacity willingness interest A limited number of people are capable of giving you a major gift!
  11. 12. <ul><li>Majority of income </li></ul><ul><li>will come from </li></ul><ul><li>minority of donors. </li></ul>
  12. 13. Considerations <ul><li>Most of the people in your database are not wealthy </li></ul><ul><li>Some of the people on your database don’t care that much about your mission </li></ul>
  13. 14. Ready to take the leap?
  14. 15. Get Organized
  15. 16. Have a Research Plan
  16. 17. Set a Time Limit
  17. 18. Investigate Analyze Compile
  18. 19. Step 1: Compile Involved with similar organizations Similar interests & Capacity to give Involved with organization
  19. 20. Step 1: Compile <ul><li>Begin with those who have closest ties to organization : </li></ul><ul><li>Board & their connections </li></ul><ul><li>Family & friends </li></ul><ul><li>Volunteers </li></ul><ul><li>Current and past donors </li></ul><ul><li>People your organization serves </li></ul>
  20. 21. Step 1: Compile <ul><li>Think creatively. </li></ul><ul><li>Research donors and board members of local and/or similar organizations. </li></ul><ul><li>Use lists of the wealthy, large gifts, top people by profession or industry, state and population group. </li></ul><ul><li>Read, Read, Read!! </li></ul>
  21. 22. Step 2: Investigate <ul><li>Confirm and verify results </li></ul><ul><li>Seek the most authoritative sources </li></ul><ul><li>Check dates of information </li></ul>
  22. 23. Step 3: Analyze the Results <ul><li>Prospect management: </li></ul><ul><li>Rank prospects by likelihood and size of gift; </li></ul><ul><li>Decide on communication. </li></ul>
  23. 24. Research Resources
  24. 25. Ethics / Privacy
  25. 26. Let your journey begin….
  26. 27. <ul><li>Andrea Snyder </li></ul><ul><li>Grants Collection </li></ul><ul><li>Enoch Pratt Free Library/ </li></ul><ul><li>State Library Resources Center </li></ul><ul><li>[email_address] </li></ul><ul><li>(410)396-5320 </li></ul>