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Using Data to Identify Potential Donors Session for Symposium on Rural Philanthropy July 17, 2012

Using Data to Identify Potential Donors Session for Symposium on Rural Philanthropy July 17, 2012. Scope of Session. Role of Prospect Research Preparing for Prospect Research Ethical Considerations What Are You Looking For?. Wealth Ratings Additional Resources. Role of Prospect Research.

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Using Data to Identify Potential Donors Session for Symposium on Rural Philanthropy July 17, 2012

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  1. Using Data to Identify Potential DonorsSession forSymposium on Rural PhilanthropyJuly 17, 2012

  2. Scope of Session • Role of Prospect Research • Preparing for Prospect Research • Ethical Considerations • What Are You Looking For? • Wealth • Ratings • Additional Resources

  3. Role of Prospect Research • Find and verify • Ability to make a major gift • Interest in your mission • Links to your organization • Also consider • Philanthropic behavior

  4. Role of Prospect Research AND organize, record, protect, analyze, package and disseminate relevant prospect and donor information. Take the long view!

  5. Professionalize Prospect Research • Centralize all donor and prospect information • Invest in a database designed to store information that can be accessed and analyzed. • Invest in database training (or you will end up with Excel spreadsheets) • Establish written policies to protect donor information • Establish written procedures governing database usage

  6. Prospect Research Ethics

  7. Ethical Considerations AFP’s “Donor Bill of Rights” APRA’s “Statement of Ethics” • Self-responsibility • Honesty • Conflict of Interest • Confidentiality • Accuracy • Relevance A donor has a right to see any information you have collected

  8. Levels of Research Discovery • Enough information to merit initial contact • Capability, Interest, Linkage Cultivation • Spot research as needed • Much of the research is done through contact with the prospect Pre-solicitation (0 to 6 months) • Full profile, everything that will influence successful solicitation

  9. Role of Prospect Research What Are You Looking For? MAJOR GIFT PROSPECT • Interest/Linkage -- Gift history, volunteer activity, shared values, membership, family link, beneficiary • Philanthropic behavior -- Gifts to any organization, political contributions, religious affiliation • Wealth Indicators -- insider, private company ownership, occupation, real estate, private equity, club membership, foundation or donor advised fund, gifts to other orgs

  10. What Are You Looking For? • Income often is not relevant • nine out of 10 planned gifts are bequests. • Consistent annual fund donor • Volunteer • Age 40-60 • Educated – bachelors degree or higher • Motivated by helping others, religious beliefs and giving back PLANNED GIFT PROSPECT

  11. What Are You Looking For? PLANNED GIFT PROSPECT cont’d. • Single or widowed • Married with few or grown children • Wants to provide for loved ones • Concerned about retirement income • Tax concerns Bequest Donors: Demographics and Motivations of Potential and Actual Donors. Prepared for Campbell & Company by Center on Philanthropy at Indiana University, March 2007.

  12. Where is the Information? Your database – gleaned from annual fund • Gift history – size, frequency, appeal response, fund • Event attendance • Volunteer activity • Beneficiaries of grants and scholarships Prospect contacts – staff, board members and other volunteers Publicly available resources • Commercial databases • Commercial screening and data append services • Free resources online and through libraries

  13. Wealth • Center on Wealth and Philanthropy • Giving USA • Bank of America Study • The Millionaire Next Door by Thomas J. Stanley (1996) • Rural Policy Research Institute • Transfer of Wealth in Indiana Study

  14. Wealth Respondents by source of wealth • Some or all from inheritance/gifts -- 50.9% • Some or all from business or professional efforts -- 89.1% • Some or all from investment -- 75.5% • All from inheritance/gifts -- 3.6% • All from business or professional efforts -- 11.8% • All from investment -- 0.9% Source: "Extended Report of the Wealth with Responsibility Study / 2000."Paul G. Schervish and John J. Havens, Boston College, March 2001

  15. Wealth • “There is a growing body of evidence on the critical role that entrepreneurs and small businesses play in driving local and national economies. • The structure of rural economies is essentially composed of small enterprises, which are responsible for most of the job growth and the innovation. Moreover, small businesses represent an appropriate scale of activity for most rural economies. “ Rural Policy and Research Institute website http://www.rupri.org/entrepreneurship.php

  16. Wealth in Your Community Chambers of Commerce USA Chamber of Commerce Directory Directory of Local Chambers of Commerce and Visitors Bureaus

  17. Wealth in Your Community Zoominfo 1) Create list of businesses in your community based on location, revenue, and/or number of employees 2) Go to business’ website to identify stakeholders 3) Research stakeholders Dun & Bradstreet Hoover’s Online Reference USA Commercial resources that may be available through you library.

  18. Wealth in Your Community Reference USA is available online from many public libraries through Midwest Collaborative of Library Services.

  19. Individual ResearchPublic Company Executives SEC -- • Compensation, stock holdings, options activity of corporate insiders • Read the help section, know forms • Look for DEF-14A Yahoo Finance -- • Financials, charts, historical information, news, insider rosters, stock ownership and recent activity

  20. Wealth IndicatorsPolitical Contributions There is a correlation between political contributions and philanthropic gifts FEC Political Contribution Filings Can drill down to form Open Secrets Quicker geographic search

  21. Wealth IndicatorsProperty NETROnline Needs updating Indiana Assessor and Property Tax Directory Commercial website Indy.gov: Dept. of Local Government Finance County Assessor’s Website – look for GIS BRB’s Free Resource Center

  22. Wealth IndicatorsOccupation / Salary Executive Salary Wizard (Public Execs) Salary.com Jobstar.com Physicians (Hope for orthopedic surgeons, neurosurgeons & radiologists) Indiana Professional Licensing Agency

  23. Wealth IndicatorsPhilanthropy • Guidestar – more info with paid subscription • FC Online – paid service might be available through your library • Chronicle of Philanthropy • Indiana Grantmakers Alliance • Annual Reports • Google search with name and “donor” or “gift”

  24. Ratings RATINGS FORMULAS are not SOLICITATION AMOUNTS The purpose of capability ratings is to identify, segment and prioritize prospects. It is a starting point. Solicitation amounts should be based on what is learned through building a relationship with the prospect.

  25. Ratings BASED ON INCOME The average American contributes 2% of their income per year to charity. The percentage increases at higher levels of income. • $100,000-$499,000 x 2.7% x 5 = gift capability • $500,000-$999,000 x 2.9% x 5 = gift capability • $1,000,000+ x 4.3% x 5 = gift capability Source: Martz & Lundy

  26. Ratings BASED ON REAL ESTATE • Real Estate x 3 x 5% = gift capacity BASED ON STOCK HOLDINGS • $100,000-$499,000 stock & options x 1%-4% = gift capacity • $500,000-$999,000 stock & options x 5%-9% = gift capacity • $1,000,000+ stock & options x 10% = gift capacity Source: Martz & Lundy

  27. Ratings * Where individual is owner, CEO, founder, principal or president Source: Benz, Whaley Flessner

  28. Ratings Grid

  29. Additional Research • Contact information • Career information • Circles of Influence • Biographical details • Interests

  30. Searching Public Databases Not all search engines and databases use the same search language • Natural language • terms as you would use them in speech. • Boolean Language • uses connectors AND, OR, NOT, sometimes • Proximity indicators: NEAR, w/1, * • Parenthesis to group • the order and use of parenthesis can change the outcome of the search • quotation marks for exact phrases

  31. General Information -- Collections Public Library Online Resources INSPIRE Indiana Indianapolis Marion County Public Library

  32. General Information -- Google Use Advanced Search or know how to use the standard search box – it makes a difference

  33. Individual Research – Contact Information Directories • http://www.anywho.com/ • http://www.switchboard.com/ • http://search.infospace.com/ispace/ws/index • Reverse lookup • http://email.iaf.net/email-search.html • Email search • http://zip4.usps.com/zip4/welcome.jsp • Zip codes List courtesy of David Lamb’s Prospect Research page

  34. Individual Research – Contact Information

  35. Individual ResearchBusiness and Career Biznar Deep web Creates “clusters”

  36. Individual Research – Career / Links • Google Advanced • LinkedIn • Muckety • Corporate Websites • Blue Golf

  37. Individual ResearchThe Full Picture You are the most important source of information about the prospect / donor Get into the habit of filing contact reports and recording relevant information into your database.

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