Prospect research can be a complex subject, but it’s vital to growing and developing your nonprofit’s donor base.
With over $373 billion donated last year, giving is on the rise, which means that prospect research is more important than ever for capitalizing on your donors’ generosity and building strong relationships with them.
In this guide, we’ll cover all of the basics, from the definition down to the nitty-gritty details of how prospect research can work for you!
Last month, the Girl Scouts of Western Washington were in quite the predicament. When confronted with the dilemma to either accept a $100,000 major gift that would be highly beneficial to the advancement of the organization and some of its participants, or return the donation and lose out on the funding but avoid having to discriminate against transgender girls, it was evident that the Girl Scouts of Western Washington prioritized their mission over money. But they didn’t stop with returning the donation. As any smart and adaptable organization would, they leveraged the opportunity and started an online fundraising campaign to recoup the $100,000, attracting nearly three times the goal in less than a week. The Girl Scouts of Western Washington’s actions showcased the organization’s values, their ability and willingness to stand up for those values, and reinforced their brand, effectively telling the organization’s story and connecting with donors who hold the same values. In the words of Megan Ferland, Girl Scouts of Western Washington’s CEO, “every girl should have the opportunity to be a girl scout if she wants to.”
So what can your nonprofit take from this story? To start, it is important to identify under what circumstance you should return a major gift or donation. Continue reading →
As a fundraiser in the rush of day-to-day operations, deadlines, meetings and metrics, it’s easy to lose sight of the motivations and interests of your donors. Sometimes, fundraising can become more about reaching goals than relating to donors. And it can be a slippery slope – the results of which we’ve seen documented in UnderDeveloped: A National Study of Challenges Facing Nonprofit Fundraising, which outlined various problems arising in the nonprofit industry, including decreasing retention of fundraising employees and donors. There will be no cure-all for the industry as a whole, but there are steps individual fundraisers can take to see better results in fundraising. Those steps have nothing to do with “doing more” or “doing better”…they are related to an organization-wide shift toward a culture of philanthropy. Continue reading →
“Make no little plans; they have no magic to stir men’s blood and probably themselves will not be realized. Make big plans; aim high in hope and work.” — Daniel Hudson Burnham (1846-1912)
In major gifts fundraising, drafting small plans leads to small gifts. Donors give to the goal – not to an organization, person or what they think is needed – they give to the vision or the impact they see their gift will make toward that vision. If the vision is small, donors will behave accordingly. And if the vision is big, donors will step up in a big way.