Initially posted in March 2014, up to date in March 2023
One of the vital gratifying elements of main present fundraising is getting to construct relationships with donors—relationships that final past one donation and stay sturdy even when it’s difficult for donors to present. However usually nonprofits squander the relationship-building alternatives given to them by not doing any analysis.
Conducting thorough donor analysis lays the inspiration for attending to know your donors as folks first and supporters second. On this information, we’ll take a more in-depth have a look at the donor analysis course of and methods to compile donor prospect profiles that may inform your interactions with potential donors.
What’s a donor prospect profile?
A donor prospect profile is a donor administration device that organizes all the data a corporation gathers a couple of potential donor.
In keeping with DonorSearch’s information to prospect profiles, this may embody particulars concerning the particular person’s:
- Neighborhood involvement
- Hobbies
- Household
- Training
- Profession and employer
It’s also possible to use a prospect profile to maintain monitor of interactions with a prospect. Consider it as a dwelling doc that you simply’re all the time including to while you get new data.
7 Instruments You Can Use to Create Prospect Profiles
Making a profile for a potential new main donor begins with conducting thorough analysis, and to take action, you’ll want the precise instruments in your facet.
Under are eight instruments you need to use to get a fuller image of who your potential donors are.
Earlier than we get began, a phrase of warning: the aim of analysis isn’t to snoop. We’re solely going to take a look at publicly out there data, however it nonetheless would possibly really feel intrusive. Your integrity is all the time price greater than the most important donation an individual may give. All the time. (Click on right here to tweet that.)
apply is to run your self by way of the prospecting device first that will help you see what comes up and the way correct it’s. After I not too long ago ran myself by way of the steps outlined beneath, I used to be shocked to see myself listed on the boards of nonprofits I’d fully forgotten about. It’d been over a decade because the organizations closed, however they nonetheless confirmed up on the listing.
1. Your Donor Database
One of the best place to start out your analysis is in your individual database.
For every potential donor, have a look at:
- Their fundamental handle data (reminiscent of metropolis or state)
- The “notes” on their information
- The “actions” or “interactions” tab
- The “relationships” or “associations” tab
This data is simply pretty much as good as the continuing record-keeping of main present officers. In my expertise, main present officers and nonprofit leaders rely far an excessive amount of on their reminiscence when working with main donors. Most appointments and interactions must be documented. One shopper known as this the “hit by a moose” plan: what would occur in the event you had been hit by a moose? Might your nonprofit choose up the place you left off? (For these of you not in rural areas, in the event you’re hit by a moose, the moose normally wins.)
Be persistent and tenacious in recording all of the pertinent data in your prospect profile.
2. WhitePages.com
For those who don’t have the prospect’s handle or cellphone quantity, WhitePages.com is a good place to look. (Once more, attempt looking your self first to see what addresses come up.) This data helps fill out their profile and is required to do the extra detailed wealth screening later.
3. Google
The most effective donor analysis instruments is Google. Looking out a prospect’s title tends to tug up numerous data. Relying on the prospect, you will discover company bios, alumni notes, and even neighborhood volunteer lists. You may refine your search by placing the title in quotes, including a location, or looking their title and their enterprise title collectively.
Whenever you copy and paste any useful tidbits onto your prospect profile, embody the URL of the reference so your crew can rapidly learn extra. I like to save lots of useful webpages as a PDF and add them to the prospect’s file on my pc or my nonprofit’s shared server. This fashion, anybody can see the supply materials even when the webpage is eliminated sooner or later.
I additionally do a picture search on Google. As soon as I discover a picture that appears to be correct, I put it aside to the prospect’s folder within the shared drive and paste it into the highest of their prospect profile. It’s a lot simpler to speak with a donor when you might have a face to place to their title.
4. Wealth screening device like DonorSearch
Wealth screening instruments like DonorSearch, WealthEngine, or iWave pull collectively all types of publicly-accessible wealth data and indicators: actual property holdings, inventory holdings, directorships, aircraft or yacht licenses, and so forth. Additionally they report on prospects’ charitable giving and lists if individuals are on boards of foundations as listed by Guidestar. And it will provide you with a urged vary to ask for a donation based mostly on the prospect’s capability.
However watch out. Many wealth screening instruments solely deal with whether or not a prospect has the monetary means to donate, not in the event that they’d be excited by making a serious present. They usually don’t allow you to customise the report, eradicating listings don’t belong to the donor. Right here’s the place DonorSearch shines! They can help you take away listings in a profile that to be inaccurate. They even rating data reliability based mostly on their expertise doing this kind of analysis.
Extra importantly, DonorSearch is weighted extra towards demonstrated philanthropy than towards wealth. They’ve all of the wealth indicators they usually will provide you with an estimated capability based mostly on wealth. However they’ve a way more full listing of items the prospect has made. So in addition they recommend a present ask degree based mostly on the giving, not simply the wealth. A prospect might have the potential of constructing a $25 million to $50 million present. But when the best present they’ve ever given is $100,000, it’s higher to contemplate asking at that degree, not less than at first! Plus, an perceived capacity to present could also be based mostly on the worth of their home. However I’ve not but met a donor who’ll promote 1/10 of her home to assist your nonprofit.
No matter device you utilize, you’ll want to add a PDF of the profile to the shared drive. And jot down any objects of notice on the prospect profile sheet.
5. Zillow
Placing the prospect’s handle into Zillow may help you discover an estimated price of their home (or homes you’ll have found within the property listings in WealthEngine or DonorSearch). This may be helpful to incorporate on the prospect profile.
6. GuideStar
For those who’ve found clues that point out the prospect might have their very own basis, wanting up their Type 990s on GuideStar may help you get a extra full sense of their giving.
The Type 990s listing each what organizations they’ve supported and the way a lot they gave to every. Jot any worthwhile data onto the prospect profile.
7. Matching Reward Database
Some prospects may fit for an employer that provides present matching as a part of their company philanthropy efforts. Understanding which prospects are eligible for matching is effective, as employers will usually provide a 1:1, 2:1, and even 3:1 match.
Leverage an identical present database to verify prospects’ eligibility and file it in your prospect profiles. Then, when the time comes, be sure to teach your donor about matching items to allow them to submit the required data to get their donation doubled!
Sturdy Donor Relationships are Definitely worth the Effort
Your nonprofit’s relationship with donors is price taking time to get proper. Utilizing these instruments to arrange a prospect profile may help you deal with what’s necessary to particular person donors and discover the simplest methods to talk with them.
Creating prospect profiles may assist your nonprofit leaders. One of many prime nonprofit CEO fundraising frustrations is just not being correctly ready for a gathering with a serious donor. Donor profiles like these will assist your leaders be their greatest of their conferences!
