Prospect Research for Fundraisers E-Book

Jennifer J. Filla

• Herausgeber: John Wiley & Sons
• Kategorie: Fachliteratur
• Serie: The AFP/Wiley Fund Development Series
• Sprache: Englisch

Seitenzahl: 286

Veröffentlichungsjahr: 2013

Beschreibung

Essential tools for implementing right-sized prospect research techniques that help nonprofit organizations reach their fundraising goals Written especially for front-line fundraisers, Prospect Research for Fundraisers presents a practical understanding of prospect research, prospect management, and fundraising analytics, demonstrating how research can be used to raise more money. Filled with examples, case studies, interviews, and stories, this unique book is structured around the fundraising cycle and illustrates the myriad of current and ever-changing prospect research tools and techniques available to boost an organization's fundraising effectiveness. From essential overviews to how-to-search skills, this practical book gives development officers the tools to understand how to use prospect research in ways that best fit their goals for each stage of the fundraising cycle. * Provides practical insight to understand the best use of each prospect research tool and technique * Features a companion website with a variety of online tools to help readers implement key concepts * Part of the AFP Fund Development Series Prospect Research for Fundraisers provides fundraisers with an understanding of what prospect research is and which resources are available to small organizations that have limited internal capacity, medium-sized organizations building capacity, and large organizations wanting to maximize their strengths. It offers a practical understanding of the relevant tools at the disposal of development officers and managers responsible for hiring, outsourcing, purchasing, managing, and implementing prospect research within their organizations.

Leseprobe

Table of Contents

Additional Praise for Prospect Research for Fundraisers

The AFP Fund Development Series

2012–2013 AFP Publishing Advisory Committee

Title Page

Copyright

Dedication

Foreword

Acknowledgments

Introduction

Chapter 1: The Big Picture

What Is Prospect Research?

Why Do Prospect Research?

How Does Research Fit into My Work and into the Gift Cycle?

Communication

Dispelling Myths and Corroborating Evidence

Summary

For Further Reading

Chapter 2: Identifying New Prospects

Overview: Why We Identify New Prospects

Capturing and Maintaining Constituent Information

Manual Prospect Identification Methods

Wealth Screenings

Surveying

Simple Data Mining

Advanced Data Mining

Donor Modeling

List Rental

Summary

For Further Reading

Chapter 3: Researching Prospects

Different Levels of Research

Types of Donor Profiles

Assembling Your Research Toolkit

Search Techniques Every Fundraiser Should Know

Capacity Ratings: Putting the Information Together

Summary

For Further Reading

Chapter 4: Donor Relationship Management

What Is a Relationship Management System?

The Three Moving Pieces

Creating Your Own System

Summary

For Further Reading

Chapter 5: Managing Prospect Research

Managing to Your Fundraising Goals

Hiring Employees and Volunteers

Skill Sets for Hiring

Managing Expectations

Defining Common Terms and Using Forms

Purchasing Resources

Options for the One-Person (or Small-Team) Development Office

Summary

For Further Reading

Chapter 6: Ethics, Risk, and Data Protection: What's the Big Deal?

Starting with Donor Trust

Risky Business

Ethics

Legal Issues

Outside of the United States

Some Practical Tips

Summary

For Further Reading

Chapter 7: International Prospect Research

Making International Fundraising Work

Getting Started with International Prospects

Summary

For Further Reading

Chapter 8: Trends and Opportunities: The Future of Prospect Research

Big Data and Segmentation

Data Visualization

Relationship Mapping

Social Media and Social Scoring

Content Curation

What the Future Might Look Like

Summary

For Further Reading

Appendix A: AFP Code of Ethics

Appendix B: Donor Bill of Rights

Appendix C: APRA Statement of Ethics

Appendix D: APRA Skill Sets—Advanced

Appendix E: APRA Skill Sets—Fundamentals

Appendix F: APRA Skill Sets—Relationship Management

Appendix G: APRA Skill Sets—Research Management

About the Authors

Jennifer J. Filla

Helen E. Brown

Index

Additional Praise for Prospect Research for Fundraisers

“Too often, the partnership between fundraisers and prospect researchers is in name only. Now Helen Brown and Jennifer Filla have written a book to bridge that gap. No matter what level their experience, fundraisers and researchers alike will find in its pages a wealth of information ranging from organization and budgeting to data analytics and prospecting tips. This book will take its place among the few essential research reference books on my shelf.”

—David Eberly, Senior Director, Prospect Development, Boston Children’s Hospital Trust

“Often in the development area, we hear about the dangers of the ‘Ready, Fire, Aim’ approach, but Brown and Filla remind us that there is something that can be even more catastrophic to our donor relationship-building and that is the ‘Aim, Fire, Ready’ approach. We cannot start the process of cultivating and soliciting donors without first getting ready. This book provides both experienced development officers and beginners in the field with all the tools they need to get ready for those important donor calls. The resources provided and the real life stories of how to use wealth screening, anecdotal research, and other prospecting strategies to show the donors that you’ve done your homework, and that you have the donor’s best interests in mind are crucial to success in fundraising. Congratulations to the authors on producing a book that should be in every development officer’s library.”

—Linda Lysakowski, ACFRE, President, Linda Lysakowski, LLC

“Fundraisers in organizations large and small will benefit from the insights in this book. Whether partnering with research experts or doing their own research, development officers who value information and understand how to gather, integrate, and use information from a wide variety of sources, including prospective donors, are more effective for their organizations and more highly regarded by the philanthropic individuals and institutions with whom they work.”

—Ronald J. Schiller, Senior Vice President, Lois L. Lindauer Searches

The AFP Fund Development Series

The AFP Fund Development Series is intended to provide fund development professionals and volunteers, including board members (and others interested in the nonprofit sector), with top-quality publications that help advance philanthropy as voluntary action for the public good. Our goal is to provide practical, timely guidance and information on fundraising, charitable giving, and related subjects. The Association of Fundraising Professionals (AFP) and Wiley each bring to this innovative collaboration unique and important resources that result in a whole greater than the sum of its parts. For information on other books in the series, please visit www.afpnet.org.

The Association of Fundraising Professionals

The Association of Fundraising Professionals (AFP) represents over 30,000 members in more than 207 chapters throughout the United States, Canada, Mexico, and China, working to advance philanthropy through advocacy, research, education, and certification programs.

The association fosters development and growth of fundraising professionals and promotes high ethical standards in the fundraising profession. For more information or to join the world's largest association of fundraising professionals, visit www.afpnet.org.

2012–2013 AFP Publishing Advisory Committee

CHAIR: Steven P. Miller, CFRE

Vice President, Resource Development, Reston Interfaith

D. C. Dreger, ACFRE

Director of Campaigns for the Americas, Habitat for Humanity International

Nina P. Berkheiser, CFRE

Principal Consultant, Your Nonprofit Advisor

Patricia G. Egan, CFRE

Fundraising Consultant

Scott Fortnum, ACFRE

Chief Development Officer, Saint Elizabeth Health Care Foundation

Audrey P. Kintzi, ACFRE

Senior Development Director, Saint Mary's University of Minnesota

Marilyn Foster Kirk, CFRE

Associate Vice Chancellor, University of Illinois at Chicago

Benjamin T. Mohler, CFRE

Director of Development, UNC Charlotte

Robert J. Mueller, CFRE

Assistant Vice President, Hosparus

Maria-Elena Noriega

Director, Noriega Malo y Asociados. S.C.

Ligia Pena, CFRE

Fundraising Consultant, Diversa

John Rivas, CFRE

Chief Development Officer, Florida United Methodist Home

John Wiley & Sons, Inc.:

Susan McDermott

Senior Editor (Professional/Trade Division)

AFP Staff:

Jacklyn P. Boice

Editor-in-Chief, Advancing Philanthropy

Chris Griffin

Professional Advancement Coordinator

Rhonda Starr

Vice President, Education and Training

Reed Stockman

Cover image: © Troels Graugaard/iStockphoto

Cover design: Andrew Liefer

Copyright © 2013 by Jennifer J. Filla, Helen E. Brown. All rights reserved.

Published by John Wiley & Sons, Inc., Hoboken, New Jersey.

Published simultaneously in Canada.

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Library of Congress Cataloging-in-Publication Data:

Filla, Jennifer J., 1970-

Prospect research for fundraisers : the essential handbook / Jennifer J. Filla, Helen E. Brown.

pages cm. — (The AFP fund development series)

Includes index.

ISBN 978-1-118-29739-1 (cloth); ISBN 978-1-118-41970-0 (ePDF);

ISBN 978-1-118-58548-1 (Mobi); ISBN 978-1-118-42157-4 (ePub)

1. Fund raising. 2. Fund raisers (Persons) I. Brown, Helen E., 1963- II. Title.

HV41.2.F55 2013

658.15′224–dc23

2012045892

This book is dedicated to our prospect research mentors and colleagues. You are an inspiration to us.

Foreword

Robbe Healey, MBA, ACFRE

Founding Member, Aurora Philanthropic Consulting

Think for a few minutes about things you like to do…but at which you will never be an expert. For example, I enjoy volunteering with my local Habitat for Humanity. In fact, I particularly like working on the sheetrock crew. There is something very satisfying about seeing the interior spaces of the home defined by the walls as they are finished. There is, however, no comparison between my speed and skill at hanging sheetrock and those of a skilled professional. The installation ratio of a volunteer to professional is probably 1:5, or more. The same ratio can be applied to prospect research.

We know we need to work hard and work smart. We are committed to good stewardship. We want to achieve our goals both in funds raised as well as managing the cost of fundraising. What do we do ourselves? What do we outsource? How do we decide?

In the past decade there has been a sea change in the way that prospect research is being applied in fundraising. Historically, prospect research has been reactive and largely considered to be a back-office function or service. Given the breadth, depth, and scope of information now available through multiple sources, prospect research has evolved. It is now a transformational springboard for fundraising success for organizations that invest appropriately and strategically. In this book, Filla and Brown explain concepts, strategies, tactics, and implementation plans in very understandable terms to empower fundraising leaders to make wise, cost-effective decisions.

As we've all experienced, technology and the way it can be used in development programs is changing quickly. Organizations that don't evolve and that resist using the latest resources and techniques will be behind the curve, or worse. As staff members on the front lines of technology, skilled prospect researchers are now full partners with frontline fundraisers in building and achieving organizational success.

That's why this book is so important. Filla and Brown clearly define not only what best-practice prospect research is but also discuss what it can do for you: how you can use research, prospect management, and analytics to your organization's best advantage and what the future may bring to a well-resourced department.

You may be thinking, “We have a subscription that finds everything we need” or “I just do a Google search and find everything I need.” You are kidding yourself. Search engines give you the mere the tip of the iceberg; according to some experts it is only about 20 percent—or less—of available information. Subscriptions may give you a little more. But investing in research by a skilled researcher gives you a much bigger picture. A researcher pulls information together into a story with suggestions for donor-focused cultivation, solicitation, and stewardship. Their work frees you up to be out in the community where you belong, with your donors and prospects.

Let's go back to sheetrock…can you really perform? If you or your frontline fundraisers are attempting to do more than cursory research, it is not good stewardship of departmental resources. Compare salaries and think about who should be doing the research. Each frontline fundraiser, whether in a small or large shop, must be intensely focused on developing high-quality relationships with individuals and the interactive processes that will secure funding and meet goals. Organizational leadership may have a vision and plan for the future that requires expanding to a new level of productivity. Increased results are unlikely to materialize if we use the same behaviors. Using an expert researcher, either internal or outsourced, can be the difference between flat and growth—and is always more economical!

You may have met goals and even completed successful campaigns without research in the past…so why start now? Because competition is increasing, along with the need for highly segmented and personalized donor strategies. Success will require us to streamline our fundraising, target our best prospects, and stay focused on meeting donor needs. We must give each donor messages in the medium they prefer. Personalization can mean the difference between success and disappointment—or failure.

Peer reviews and effective discovery visits will still play an important role, but they are not enough. It is not reasonable to review and visit all of your potential prospects. Research can prioritize large lists and, especially prior to solicitation, complement anecdotal information with the kind of assets and giving history that rarely arise in conversation. Research helps identify hidden gems in our donor pool and frees us to focus on top prospects who have demonstrated that they are philanthropic. Filla and Brown provide recommendations for integrating research and frontline fundraising by helping us assess approaches, make decisions, and move forward strategically and intelligently.

Organized to make the book especially valuable both as a comprehensive overview and as a reference tool, each chapter includes a select bibliography of recommended readings and resources. In a style that is clearly written and easy to comprehend, these chapters discuss and explain:

The ways prospect researchers identify new prospects, from simple to sophisticated methods.

Individual, company, and foundation research, including small-shop tactics.

Relationship management, ratings, prioritizing prospects, and reporting.

Overseeing or creating a research department, including hiring talent, output, quality, and resourcing for best results.

Ethics, risk, and due diligence.

International prospect research.

Trends and possibilities.

Particularly engaging, Filla and Brown have made liberal use of case studies, interviews, quotes, and tips that highlight topics and issues for additional thought or consideration. Each chapter focuses on a topic in such a way as to allow the reader to review and consider how to apply the topic to their shop and situation.

This book will be useful to staff at all levels of an organization. It provides a comprehensive overview, step-by-step guide, hints, and recommendations. It is the kind of book you will read, put on your shelf, and then refer to regularly as you meet new challenges and expand your practice. If you don't know where you're going, any path will get you there. We know where we are going and we want to be on the best path. Research can be our guide to the best route. Filla and Brown have provided the GPS.

Acknowledgments

Working in the fundraising field is a joy. This book would not be possible without the sharing, mentoring, and teaching our colleagues have given us over the years and continue to give. It has been our privilege and honor to be able to pull together our own experiences and the knowledge of so many people in creating this book.

We are truly grateful to all of the people who graciously donated their time for interviews and who provided case studies, expertise, opinions, and other valuable contributions to these pages. We would especially like to thank our colleagues who fearlessly reviewed our rough drafts and provided great insight: Jane Arnett, Chris Carnie, Molly Carocci, David Eberly, Susan Hunt, Marianne Pelletier, Sue Piergallini, Ann Satterthwaite, Ron Schiller, Allen Thomas, and Dina Zelleke.

Of course, without the AFP Publishing Committee and a nudge from Nina Berkheiser and Grant Martin, this book would still be inside our heads. A very hearty thanks to the team at John Wiley & Sons and to Becky Hemperly for the patience, advice, and support they provided to two new authors.

Lastly, but most importantly, we'd like to thank our spouses, Rich and Julie, and our close family, friends, and workmates who have shared our excitement, listened patiently, and provided moral support, tea, and sustenance while we wrote this book. Our deepest thanks for putting up with our temporary obsession, for helping to keep us sane and motivated, and for doing the stuff that we didn't have time to do because we were writing a book!

Introduction

Large institutions have been using prospect research since long before the Internet introduced blogs. Those institutions still lead the way in prospect research, but we have witnessed many different sizes and types of organizations harness the power of prospect research tools and techniques to enhance and grow their fundraising. You may be an executive director or CEO, a vice president, a development director, a prospect researcher, or some other fundraising role. If you are interested in understanding how prospect research can help your fundraising, then this book is for you!