Initially posted in March 2014, up to date in March 2023

Probably the most pleasurable elements of main present fundraising is getting to construct relationships with donors—relationships that final past one donation and stay sturdy even when it’s challenging for donors to give. However typically nonprofits squander the relationship-building alternatives given to them by not doing any analysis.

Conducting thorough donor analysis lays the muse for attending to know your donors as folks first and supporters second. On this information, we’ll take a more in-depth have a look at the donor analysis course of and methods to compile donor prospect profiles that may inform your interactions with potential donors.

What’s a donor prospect profile?

A donor prospect profile is a donor management instrument that organizes all the data a corporation gathers a few potential donor.

In response to DonorSearch’s guide to prospect profiles, this could embody particulars in regards to the particular person’s:

• Neighborhood involvement
• Hobbies
• Household
• Training
• Profession and employer

It’s also possible to use a prospect profile to maintain observe of interactions with a prospect. Consider it as a dwelling doc that you simply’re all the time including to while you get new data.

7 Instruments You Can Use to Create Prospect Profiles

Making a profile for a potential new major donor begins with conducting thorough analysis, and to take action, you’ll want the fitting instruments in your facet.

Beneath are eight instruments you need to use to get a fuller image of who your potential donors are.

Earlier than we get began, a phrase of warning: the purpose of analysis isn’t to snoop. We’re solely going to have a look at publicly obtainable data, but it surely nonetheless would possibly really feel intrusive. Your integrity is all the time price greater than the largest donation an individual may give. At all times. (Click here to tweet that.)

A great observe is to run your self via the prospecting instrument first that can assist you see what comes up and the way correct it’s. Once I lately ran myself via the steps outlined under, I used to be shocked to see myself listed on the boards of nonprofits I’d utterly forgotten about. It’d been over a decade for the reason that organizations closed, however they nonetheless confirmed up on the record.

1. Your Donor Database

One of the best place to start out your analysis is in your personal database.

For every potential donor, have a look at:

• Their primary handle data (akin to metropolis or state)
• The “notes” on their recordsdata
• The “actions” or “interactions” tab
• The “relationships” or “associations” tab

This data is barely nearly as good as the continued record-keeping of main present officers. In my expertise, main present officers and nonprofit leaders rely far an excessive amount of on their reminiscence when working with main donors. Most appointments and interactions have to be documented. One consumer known as this the “hit by a moose” plan: what would occur for those who have been hit by a moose? May your nonprofit decide up the place you left off? (For these of you not in rural areas, for those who’re hit by a moose, the moose often wins.)

Be persistent and tenacious in recording all of the pertinent data in your prospect profile.

2. WhitePages.com

Should you don’t have the prospect’s handle or telephone quantity, WhitePages.com is a good place to look. (Once more, strive looking out your self first to see what addresses come up.) This data helps fill out their profile and is required to do the extra detailed wealth screening later.

3. Google

Among the best donor analysis instruments is Google. Looking a prospect’s title tends to tug up a lot of data. Relying on the prospect, you will see that company bios, alumni notes, and even group volunteer lists. You may refine your search by placing the title in quotes, including a location, or looking out their title and their enterprise title collectively.

If you copy and paste any useful tidbits onto your prospect profile, embody the URL of the reference so your staff can shortly learn extra. I like to save lots of useful webpages as a PDF and add them to the prospect’s file on my pc or my nonprofit’s shared server. This manner, anybody can see the supply materials even when the webpage is eliminated sooner or later.

I additionally do a picture search on Google. As soon as I discover a picture that appears to be correct, I put it aside to the prospect’s folder within the shared drive and paste it into the highest of their prospect profile. It’s a lot simpler to speak with a donor when you’ve a face to place to their title.

4. Wealth screening instrument like DonorSearch

Wealth screening instruments like DonorSearch, WealthEngine, or iWave pull collectively all kinds of publicly-accessible wealth data and indicators: actual property holdings, inventory holdings, directorships, aircraft or yacht licenses, and so forth. In addition they report on prospects’ charitable giving and lists if individuals are on boards of foundations as listed by Guidestar. And it offers you a steered vary to ask for a donation primarily based on the prospect’s capability.

However watch out. Many wealth screening instruments solely concentrate on whether or not a prospect has the monetary means to donate, not in the event that they’d be concerned with making a significant present. And so they don’t allow you to customise the report, eradicating listings you understand don’t belong to the donor. Right here’s the place DonorSearch shines! They help you take away listings in a profile that you understand to be inaccurate. They even rating data reliability primarily based on their expertise doing this kind of analysis.

Extra importantly, DonorSearch is weighted extra towards demonstrated philanthropy than towards wealth. They’ve all of the wealth indicators and so they offers you an estimated capability primarily based on wealth. However they’ve a way more full record of items the prospect has made. So in addition they recommend a present ask stage primarily based on the giving, not simply the wealth. A prospect could have the aptitude of constructing a $25 million to $50 million present. But when the best present they’ve ever given is $100,000, it’s higher to think about asking at that stage, a minimum of at first! Plus, an perceived capability to offer could also be primarily based on the worth of their home. However I’ve not but met a donor who’ll promote 1/10 of her home to help your nonprofit.

No matter instrument you utilize, make sure to add a PDF of the profile to the shared drive. And jot down any gadgets of be aware on the prospect profile sheet.

5. Zillow

Placing the prospect’s handle into Zillow may help you discover an estimated price of their home (or homes you will have found within the property listings in WealthEngine or DonorSearch). This may be helpful to incorporate on the prospect profile.

6. GuideStar

Should you’ve found clues that point out the prospect could have their very own basis, trying up their Type 990s on GuideStar may help you get a extra full sense of their giving.

The Type 990s record each what organizations they’ve supported and the way a lot they gave to every. Jot any worthwhile data onto the prospect profile.

7. Matching Present Database

Some prospects may match for an employer that gives present matching as a part of their company philanthropy efforts. Understanding which prospects are eligible for matching is effective, as employers will typically supply a 1:1, 2:1, and even 3:1 match.

Leverage a matching gift database to verify prospects’ eligibility and file it in your prospect profiles. Then, when the time comes, be certain that to teach your donor about matching items to allow them to submit the required data to get their donation doubled!

Robust Donor Relationships are Definitely worth the Effort

Your nonprofit’s relationship with donors is price taking time to get proper. Utilizing these instruments to arrange a prospect profile may help you concentrate on what’s vital to particular person donors and discover the best methods to communicate with them.

Creating prospect profiles may assist your nonprofit leaders. One of many prime nonprofit CEO fundraising frustrations will not be being correctly ready for a gathering with a significant donor. Donor profiles like these will assist your leaders be their greatest of their conferences!