 WealthEngine Best Practice Reports
WealthEngine has released our latest in a series of Best Practices reports, entitled Best Practices for Prospect Research in Higher Education Fundraising. This Report is the culmination of a 5-month research initiative which included an in-depth survey of colleges and universities and qualitative interviews with development professionals. The Report outlines eight best practices, details five university case studies and includes helpful return on investment worksheets to help you achieve success in your prospect research and overall development efforts.
Click here to download a free copy of the report or to listen to a webinar on the findings.
To access a free copy of WealthEngine’s first Best Practice report; Best Practices for Prospect Research in Healthcare Fundraising, click hereIdentify New Prospects
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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.
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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. "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
 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
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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 SizzleShhh-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 |
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 |
WealthEngine offers web- and software-based data mining technology to nonprofits and financial services organizations. More than 1,800 clients use our products and services for comprehensive research on individuals, companies and foundations. Information from more than 30 different databases is bundled into handy profiles containing hard asset, charitable and campaign giving, real-estate, corporate and other biographical data. Headquartered in Bethesda, Md., WealthEngine offers products in both the United States and the United Kingdom. For more information, visit www.wealthengine.com or contact us at info@wealthengine.com or 301.215.5980.
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"How is the economy affecting your nonprofit's fundraising?" seems to be a common question as we continue to see the decline in the stock market and home sales, while the number of business closings grows. Olivia Scozzafava of the Cape Cod Commercial Hook Fishermen's Association (CCCHFA) says, "It's even more important now, in this economy, for organizations to continue to develop and expand their circles of friends. Right now, it's not necessarily about that gift, but it is about that relationship."
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Find out how prospect research and routine screenings can help you identify hospital patient prospects while remaining HIPAA-compliant. »READ MORE |
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Volunteers and board members can provide the associations and influence you need to identify prospects and make the right ask at the right time. Find out how prospect research can help you tap into this powerful network.
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"Fundraising is not so simple anymore," explains Ann Herzog, president and founder of Avalon - Integrated Fundraising Experts. WealthEngine works when it comes to upgrading donors who give less than $1,000 to donors who give $1,000 or $2,000 gift amounts.
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In this day and age, one small mistake can greatly harm your long term efforts. WealthEngine's sole focus is prospect research. That means that your records and our data sources are all processed internally and the information is never shared with outside parties. With more than 14.2 million records run last year alone, your data is in good hands. You need to know that you are working with the best company in the market, despite the price. As you consider your donor/ prospect screening process, please use our helpful tips to ensure that your data remains private and secure. »READ MORE |
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