November 2008
CONTENTS:
1. Prospect Research and the Economy
2. Kayaks and Fundraising
3. Resource Spotlight: Two New Articles
4. Focus on FillaResearch: The Chester County Hospital
Prospect Research and the Economy
Greetings!
Everywhere people are talking about how the economic downturn could and is affecting charitable giving. As companies have closed their doors or merged, corporate giving has changed or dried up entirely. Foundations are watching their funds lose value and freezing new proposal submissions to ensure they can honor prior commitments. But what about individuals? We know from Giving USA research that individuals give more than 85% of all gifts, especially if you include bequests and private family foundations. How are individual gifts affected by the economy? Kayaking helped me find some answers.
Kayaks and FundraisingMany of you know that I have relocated to the Tampa area in Florida. What you probably do not know is that I bought an inflatable kayak. Even though I had only been in a kayak once before, I hopped right into the water full of excitement and optimism. After all, I love swimming and being in water. But I had barely paddled ten feet before I began wondering if I could do it.
The wind was blowing and the current was at odds with the path I had to take to clear the dock. The kayak seemed to bounce around and refused to go in one direction. Sheer force helped, but that did not feel like recreation. I decided it was the wind and would wait for a calm day. Except that there are no days without wind here. Then yesterday I put the kayak in the water and without hesitation began paddling into the wind over the waves. It worked! I hustled along. On my return I followed the direction the wind pushed me, pulling across it only when I neared my dock.
It occurred to me that the current fundraising climate is similar to my kayaking experience. Fundraising in an economic downturn is still fundraising, but it requires a different approach. A new wind is blowing. Instead of fighting the pull of the current looking for the same types of donors, we need to go with the current and identify new prospects that are thriving in the downturn. Notwithstanding, if the current is pulling you away from past loyal donors, identify low-cost ways to keep in touch with them so that they remain loyal and resume giving when able.
Resource Spotlight: Two New Articles
Using Prospect Research to Boost Giving
This overview article answers your who, what, when, why, and how questions about prospect research.
Three Simple Steps to a Prospect Management System
You've got the prospects, now find out how to keep track of them! This article gives you a foundation to build on and actions you can take today.
Content is always being added and updated, so visit our Resources page often!
Focus on FillaResearch: The Chester County Hospital
FillaResearch has been delighted to provide prospect research to The Chester County Hospital, the last remaining independent, community-owned and governed non-profit hospital in Chester County, Pennsylvania. Here's what they had to say about us:
"I was pleased with your work. Your research profile was very helpful in preparation for our visit and for our ongoing strategy with this prospect."
Kevin O'Brien
Senior VP of Development
The Chester County Hospital Foundation
"Nature, to be commanded, must be obeyed"
Sir Francis Bacon, English philosopher and statesman (1561-1626)
FillaResearch helps organizations use research to create and maintain meaningful relationships with donors. We provide profiles on people, companies and foundations.
Contact FillaResearch and ask how we can help you find and get to know your major gift donors better. Call 610.566.5113 or email jen@fillaresearch.com