Wealth screening versus Yoda and The Force
I came across a cool infographic from DonorSearch thanks to Bloomerang’s Monthly Nonprofit Wrap-up digest of blogs and fundraising resources. After digesting the data in the infographic, I couldn’t help but conjure up an image of Yoda talking to a fundraising professional and saying “Use your donor database you shall.” Hahaha! OK, maybe this thought was a result of Force Friday and all the marketing hype around the soon-to-be-released newest Star Wars movie. Regardless, please keep reading . . .
While there was lots of data embedded in the infographic (and you want to click-through to see that graphic), here are two no-brainers:
- The donors most likely to donate in the future are those who have previously donated
- Philanthropic giving to other nonprofit organizations is the second most predictive sign of future giving
Looking at these two predictive data points, Yoda would probably say:
- “To find donor prospects for your year-end giving appeal and 2016 annual campaign use your donor database. Herh herh herh.”
- “For new prospects, look around at other organization’s annual reports, newsletters, websites and donor honor rolls. “
Having worked with non-profit organizations who use wealth screening tools, I share the following observations:
- these tools are powerful
- they are expensive
- they are great for major gift planning, endowment prospecting and capital campaign evaluation and qualification work
- it is like using a bazooka to kill a fly if you’re using it for annual campaign purposes
- too often fundraising professionals view wealth screening as a perfect science whereas it should be seen as complimenting the human intelligence gather exercises associated with prospect identification – evaluation – qualification work
What has been your organization’s experience with donor databases, wealth screening, prospect identification/evaluation (e.g. setting targeted ask amounts) exercises? Please share your thoughts and experiences in the comment box and try to do so in Yoda-speak. Let’s have some fun today.
To your health, here is!
Founder & President, The Healthy Non-Profit LLC
Posted on September 29, 2015, in Fundraising, nonprofit, resource development, technology and tagged fundraising, nonprofit, philanthropy, resource development, wealth screening. Bookmark the permalink. Leave a comment.