Summer Institute for Advancement Services Pre-Institute Sessions-Intro Prospect Research and Management_CASE SIEFR FY2023_LaRue

Intro Prospect Research and Management_CASE SIEFR FY2023_LaRue_Final

Pdf Summary

Prospect research and management are essential processes in fundraising for non-profit organizations. Prospect research involves learning more about potential or existing donors by gathering information on their backgrounds, giving history, wealth indicators, and philanthropic motivations. This information is used to evaluate a prospect's ability to give and to develop strategies for cultivation and solicitation. Prospect research techniques include seeking out publicly available information, identifying connections and affiliations, and estimating capacity and inclination to give.<br /><br />Prospect management involves planning, recording, and reporting on significant moments in the relationship between prospect donors and the non-profit organization. This includes tracking portfolio movements, recording prospect interactions, and estimating pipeline activity. The goal is to manage prospects through the fundraising cycle and to maintain continuity in the relationship, regardless of staff or organizational changes.<br /><br />Good prospect management allows for the tracking and reporting of metrics and progress for development officers. It also involves coordinating face-to-face solicitation activity, maintaining relationships with prospects, and ensuring that the organization maintains a positive image.<br /><br />Ethics play an important role in prospect research and management. Researchers must balance an individual's right to privacy with the institution's need for information. Fundamental ethical principles include integrity, accountability, practice, and avoiding conflicts of interest.<br /><br />There are various resources available for conducting prospect research, such as public record databases, social media platforms, wealth evaluation tools, and real estate information sources. Affinity, or an individual's connection to the organization, is also an important factor in identifying potential donors.<br /><br />Prospect research and management are collaborative efforts involving various stakeholders within an organization, including development assistants, annual giving teams, alumni relations, engagement teams, stewardship and donor relations, and government and community relations. Good partnerships and regular communication are key to successful prospect research and management.<br /><br />Overall, prospect research and management are critical components of fundraising, helping non-profit organizations identify and cultivate relationships with potential donors and maximize their fundraising efforts.

Keywords

prospect research

fundraising

non-profit organizations

donors

wealth indicators

philanthropic motivations

prospect management

relationship tracking

ethics

resources for prospect research