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Seven Big Benefits of Prospect Screening

If you have ever worked in fundraising at a nonprofit organization, then you understand the importance of a positive return on investment. As a member of a development team, you make choices every day about what types of fundraising activities justify your budget dollars and staff time.

Whether your nonprofit organization is small or large, established or new, prospect research can enhance your fundraising capabilities and help your organization spend its dollars and staff time strategically to ensure the maximum return on its fundraising investment.

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By donorsearch

Limits of Wealth Screening

All too often when nonprofits decide they want to invest in prospect research, they focus specifically on wealth screening.

While having some information is better than no information, wealth data is just one indicator of many when it comes to predicting a prospect’s likelihood of giving. Additionally, research has shown that historical charitable giving data is a much stronger predictor of future charitable giving.

For this reason, nonprofits that just focus on wealth screening are losing out on valuable information about their list of prospects and missing an opportunity to get the most out of their fundraising activities.

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By donorsearch

Eight Types of Essential Prospect Data

When conducting prospect research for your next fundraising campaign, there are countless types of information that you may find useful in your evaluation of whether an individual is a strong prospect. Just remember that all data is not equally meaningful when it comes to fundraising!

For this reason, we have compiled a list of the eight most essential types of data that you should include the next time you conduct prospect research.

  1. Previous Donations to Your Nonprofit
  2. Past Charitable Giving to Other Nonprofits
  3. Political Giving
  4. Nonprofit Involvement
  5. Real Estate Ownership
  6. Business Affiliations
  7. Securities and Exchange Commission (SEC) Insider Stock Transactions
  8. Personal Contact Information

Each of these data types brings its own valuable predictive qualities to the prospect research table. And we’re going to cover every item on this list in depth. If you want to jump ahead to a particular data point, click on any of them to be directed right to that section.

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By donorsearch

What is Prospect Research? (Your Question, Answered!)

You’re here because you’re contemplating a very important question:

What is prospect research?

Well, ask and you shall learn because this entire post is dedicated to helping answer that very question.

Is your organization looking to grow its pool of major gift prospects? Are you hoping to upgrade annual fund donors? Do you wish you knew more about your prospects during cultivation?

If you answered yes to any of those questions or find yourself in very similar situations, your nonprofit could likely benefit from prospect research.

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