January 2010
CONTENTS:
1. Letter from Jen
2. A Gold Digger's Top Ten Tips for Donor Prospecting
3. Resource Spotlight: CCS Study on Million Dollar Gifts
4. Focus on Aspire Research: Peer Review Example
Greetings!
Welcome to the year 2010! January is one of my favorite months of the year. It is the first step in the New Year and I enjoy getting busy with tasks more than the planning that happens at the end of the year. In this spirit I am beginning a series of newsletter articles on actions you can take using prospect research beginning with prospecting, moving through cultivation and ending with solicitation. So lace up your work boots and grab a shovel!
Your self-proclaimed gold-digger,
-Jen Filla
President,
Aspire Research Group LLC
P.S. APRA Florida is hosting a virtual seminar replay of "Approaches to Estimating Gift Capacity and Rating Systems" on Jan 28, 2010 in three locations in Gainesville, Tampa and Orlando. Registration and details can be found here: http://www.aprafl.org/programs.htm Free for APRA Florida members and $10 for non-members.
A Gold Digger's Top Ten Tips for Donor Prospecting
Depending upon your organization and how you fundraise, there are many opportunities to dig for gold in your donor database and in your community. You have probably heard of some of these tips, but hopefully you will discover new ones too.
- Get a prospect screening and use it; if you have no budget do multiple database searches to identify wealth (giving amount, biz title, wealthy zip, 2nd home, etc) and overlay with searches on affinity (consecutive year giving, total years giving, lifetime gift amount, volunteering, event attendance etc)
- Have your board review your donor prospect list (click here for an example peer review document)
- Read your local newspapers for leaders and philanthropists who likely favor your mission, then do a board review
- Create a Google Alert or other alert on your top 10 prospects to uncover news as it is happening
- Contact every volunteer with regular giving (esp. $500+ annual donors) and/or long-time and multi-consecutive year donors to begin cultivating for a planned gift
- Train your gift processor to notify you if a donor starts giving more, if a new donor makes a large gift, or s/he notices anything else worth mentioning
- Interact regularly with front-line program staff to identify volunteers and others with a fiery passion for your organization
- Create a list of types of prospects you wish for (waste disposal biz owner, works at a specific company, old family etc) and ask your board who they know
- Perform a foundation search by giving interests and geography and have the board review the directors of the best 5-10 new foundation prospects
- Get a wealth screening/snapshot donor prospect profile if there are early questions about wealth and giving history
Resource Spotlight: CCS Study on Million Dollar Gifts
In 2008 the consultant group CCS commissioned the Center on Philanthropy at Indiana University to complete a study entitled An Analysis of Million Dollar Gifts: January 2000-September 2007. One of the findings was the following: "Entrepreneurs are less likely than all other donors to give to environment or religion. They are more likely to give to a foundation, for international aid or for human services." The study is full of practical insight to guide you as you dig for gold in your donor database!
Click here for a copy of the full report.
Focus on Aspire Research: A Peer Review Example
Many organizations successfully use a peer review to find connections to prospects and to evaluate giving capacity. Aspire Research Group has created a very simple example of a peer review sheet you can use with board members, volunteers and staff. You will want to change, add or remove items to fit your organization. Don’t forget to remind peer reviewers to keep information confidential. Click here to download the document.
Be like a postage stamp. Stick to one thing until you get there.
-Josh Billings, humorist (1818-1885)
Aspire Research Group believes every development office should have the benefits of professional prospect research.
We help you raise more money by guiding you through prospect screenings, providing profiles on people, companies and foundations and giving you advice and action on using prospect research throughout the development program to boost giving.
Contact Aspire Research Group and ask how we can help you boost giving through prospect research. Call (727)231.0516 or (610)566.5113 or email jen@aspireresearchgroup.com.