This post was written by Bill Tedesco, CEO of DonorSearch
Real estate holdings are the wealth marker extraordinaire. They are the cream of the crop.
Significant real estate ownership can act as more than a wealth marker. It has philanthropic predictive capabilities as well.
With trends like that, it is easy to see why real estate ownership can be so significant in analyzing a donor’s giving capacity.
With the rise of the internet and social media, it’s possible to find information about almost everybody and everything. Whether you’re collecting data on a new renter, a potential employee or a prospective donor, knowing which information to use is important.
Fundraisers have an array of tasks, but learning all they can about their donors in order to build and cultivate relationships is among the most vital. From their home address to their financial investments, collecting important data about donors can help nonprofits build rapport, as well as discover their next major gift donors.
From social media to blogs to 24/7 news services, there is more information on people available than ever before. You just have to know how to look for it.
Some people know how to block their online profiles from public view or limit the exposure of any online content about them. This is less a problem of making friends than it is a conundrum for prospect researchers who are trying to learn as much as they can about potential donors. Should nonprofits seek ways to obtain the purposefully hidden information? What are the limits to any workarounds?
The Earth has 196,940,000 square miles of total surface area, and, unless you have a teleportation device, your fundraising team can’t cover it all. The most convenient place to look for new donors is on your street, around the corner, and other places within your city or state. As with those who desire fresh vegetables, it’s best to stay local to get what you want.
Unlike fresh vegetables, money won’t conveniently spring up from the ground. You need to be proactive to get new donors. Proactive as in don’t just jump through hoops. Jump through rings of fire to land where new donors live. And don’t merely take the long road. Dare to trek across frozen tundras in order to find greener pastures. Don’t think that finding new donors will always be difficult, but do realize that donor acquisition takes both decisive action and a dedication to reaching for new opportunities.
DonorSearch’s blog is dedicated to covering prospect research, wealth screening, and other fundraising-related topics. Yet, our readers and customers often ask if there are any free prospect research resources we recommend. So, we reached out to Chris Dawson at University Hospitals of Cleveland to share his thoughts on alternative prospect research resources.
For your reading ease, we’ve divided this insightful contribution into three parts:
Click on any of the links above to skip ahead to a particular section.
DonorSearch’s blog is dedicated to covering prospect screening and other fundraising-related topics, yet our readers and customers often ask how they can keep their donor databases clean. So we reached out to Steven Shattuck at Bloomerang to share a few strategies for how nonprofits can keep their donor databases clean.
A nonprofit can never reach their full fundraising potential unless their donor database has clean, actionable data. Making sure that data is accurate when it’s first inputted is one challenge. Keeping it that way is quite another.
What’s better than a $3,000 donation? A $6,000 donation. Prospect research identifies prospective donors, and matching gifts allow you to double their charitable gifts. When you use prospect research and matching gifts hand-in-hand, you bring in multitudes of new donors who give twice the money.
Many corporations run charitable giving programs that match employee donations to eligible nonprofits. The check that the corporation writes is called a matching gift.
For example, Amy from American Eagle Outfitters donates $300 to her daughter’s university. American Eagle matches the gift 1:1 (other companies will match 2:1 or even 3:1), and writes the university a check for $300. This doubles Amy’s gift into a $600 donation. The $300 check from American Eagle is the matching gift.
The secret to a successful fundraising campaign is identifying the right prospective donors – those who care about your organization and are able to make a significant contribution. Finding these donors is the tricky part!
Whether you have experienced this problem firsthand or are planning your next fundraising campaign – this article is here to help. We are going to explore the top five factors that most accurately predict future giving.
Based on an analysis of $5 billion in known giving to 400 nonprofit organizations, here are the top five data-driven predictors of future giving: