WealthEngine Best Practice Report
To access a free copy of WealthEngine’s first Best Practice report; Best Practices for Prospect Research in Healthcare Fundraising, click here
Fortifying Your Major Gifts Pipeline to Buffer Against a Weak Economy
In a shrinking or stagnant economy, many nonprofit leaders consider reducing their fundraising budgets. However, those that cut back not only risk missing current goals, but they also risk shrinking their fundraising capacity for years to come by jeopardizing the longterm health of the prospect pipeline. In a flat economy, nonprofits should consider investing in major gift programs to fortify the number of prospects in the pipeline.
Why focus on major gifts?
"The American economy is so diversified; you can't look at it as a whole," says Michael Dimengo, arguing that segmenting for major gifts fundraising can prove promising during a soft economy. Dimengo is President of Sage Fundraising Solutions. Major gifts tend to be more insulated from the vagaries of economic cycles and, therefore, can serve as a buffer against recessionary forces. There are several reasons this may be so... READ MORE
Power Your Prospect Research: Integrate Screening Results
The benefits of integrating your screening results are numerous. Integration allows the fundraising team to house information on all prospects (donors and non-donors alike) in one location so that a specific strategy can then be assigned, not only based on giving capacity information, but also based on affinity for the organization. As well, integrating screening data into your Donor Management System (DMS) allows you to conduct a side-by-side comparison of all levels of donors and prospects, ensuring that the best prospects are managed through prospect management. WealthEngine offers several ways to integrate as well as expert support... READ MORE
Prospect Research 101 for Small Organizations
Knowing the right dollar amount to ask for is always the ten million dollar question. Prospect research has long been the norm among large nonprofits, especially with education and health-related organizations, in determining an individual's wealth and the perfect dollar amount to request. However, greater numbers of small and mid-sized organizations are beginning to use-and find success with-prospect research for their donor and prospect development. What is prospect research? Why is it important? And what are the keys to success? ... READ MORE
Routine Wealth Screening-Why it Works
Have you ever considered screening your prospect lists as they come in rather than saving them for a major wealth review? Aside from the data overload that you may experience sorting through the results of thousands of records you've also lost time to act on the prospect's interest. As part of the next generation of prospect research, routine wealth screening-daily, monthly or quarterly reviews of prospect lists-will result in faster prospect qualification, cultivation, and a better "customer service" experience for those you need to target.
What you can find?
When trying to build a prospect base, whether to locate new prospects or learn more about current donors, it's important to review the resources you have on-hand including central files, institutional knowledge, and your existing constituents. Within these sources, there is a wealth of data that is often underutilized. This data can be brought to the forefront using an enhancing product, such as a database overlay or wealth screening, and allows you to increase your knowledge of your… READ MORE
The Secret to Making Your Annual Fund Sizzle
Shhh-it's a secret. Discover what forward-thinking fundraisers have known all along-data mining is not just for major gifts. That's right, astute development directors know that they can leverage their electronic screening results to improve their annual fund bottom line. And you can do it, too. Information from a screening is invaluable for uncovering new major gift prospects, and for creating a more detailed picture of prospects you already know. Perhaps 5-10% of your constituents will fall into these categories. But don't ignore the other 90%. You can use this same research data and predictive modeling to create better annual fund prospect lists so you can make the right ask, to the right person, at the right time. Let's take a closer look at finding your best prospects for a $1,000 per year 'President's Circle' annual appeal… READ MORE
Identify New Prospects
Finding and cultivating new prospects is critical to raising funds—Prospect Generator makes it easy to find new prospects with the wealth and inclination attributes that fit your organization’s needs. With more than 8M+ high net worth individuals in the database, Prospect Generator is flexible, affordable and a must-have for building your prospect pipeline. » More Info