Prospect research: Difference between revisions
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'''Prospect research''', also known as development research or [[fundraising]] research, is a technique through which fundraisers, development teams, and nonprofits gather relevant information about potential donors. Research methods include prospect screening companies, prospect research consultants, and in-house [[researchers]].[https://books.google.com/books?id=v6Iu1YB7_RcC&pg=PT20] |
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| ⚫ | Prospect researchers are usually employees of [[university|universities]], [[charitable organization|charities]] or other [[not for profit]] organizations. Some are freelancers, or work for private companies. Organizations generally employ prospect researchers to find and qualify potential "major" donors who have the resources to make a large gift to the organization, although the definition of a "large" gift can vary considerably. A prospect researcher will assess an individual's, [[company]]'s or [[charitable trust]] or foundation's capacity and propensity to donate. Prospect researchers use a variety of resources, including public records, business and financial publications, and Internet databases. |
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Prospect researchers also focus their search on individuals, companies and foundations on their specific giving interests and philanthropic histories, should they already exist. |
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| ⚫ | Prospect researchers |
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| ⚫ | Prospect researchers conduct research to evaluate a prospect's ability to give, also called capacity (how prospect can financially contribute to your organization), their warmth toward the organization, also called affinity (how close the prospect feels to the organization), and propensity (how likely the individual is to give at all). Prospect researchers may also analyze data in a donor or constituent database to identify new potential major donors or to predict which groups of constituents are most likely to make major gifts. |
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| ⚫ | Research is generally conducted via the Internet, but also with subscribed databases like [ |
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| ⚫ | Wealth ratings usually refer to a prospect's capacity to donate. One of the most common sources used by prospect researchers for this task are Rich Lists. The [[Sunday Times Rich List]] is widely referred to by prospect researchers, but its overall value is disputed. There is a large variety of algorithms that many scholars use to create a wealth score; most would agree in America real estate is the main indicator. |
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*[http://www.institute-of-fundraising.org.uk/groupsandnetworking/institutegroups/specialinterestgroups/researchersinfundraising/ Researchers in Fundraising (UK group)] |
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*[http://www.fundraisingresearch.info/ The Prospect Research Toolkit] |
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*[http://web.fumsi.com/go/article/find/2638 Prospect research: finally coming of age] |
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*[http://www.iwave.com/dataproviders/overview.php Prospect research: Example of a Prospect Research Company] |
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| ⚫ | Research is generally conducted via the Internet, but it is also done with the use of subscribed databases like [[Xapien]], [[Factiva]], [[LexisNexis]] and [[FAME (database)|FAME]]. A researcher may also use government-managed resources such as [[Companies House]], the [[Charity Commission]], or [[HM Land Registry]]. Other useful resources include [[Debrett's]] and [[Who's Who]], which can provide good general background on any prospect. |
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Prospect research is an established component of the Prospect Development field pioneered by Bobbie J. Strand,<ref>{{Cite book|last=Strand, Bobbie J.|url=https://www.worldcat.org/oclc/263075443|title=A kaleidoscope of prospect development : the shapes and shades of major donor prospecting|date=2008|publisher=CASE|others=Council for Advancement and Support of Education.|isbn=0-89964-412-0|location=Washington, DC|oclc=263075443}}</ref> which also encompasses relationship/pipeline management and data analytics for advancement. |
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==References== |
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{{Reflist}} |
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* {{cite book|url=https://books.google.com/books?id=v6Iu1YB7_RcC&pg=PT20|title=Prospect Research for Fundraisers: The Essential Handbook|author1=Jennifer J. Filla|author2=Helen E. Brown|date=18 March 2013|publisher=John Wiley & Sons|isbn=978-1-118-42157-4|pages=20–21}} |
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[[Category:Fundraising]] |
[[Category:Fundraising]] |
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Latest revision as of 10:20, 14 January 2024
 | This article needs additional citations for verification. (June 2019) |
Prospect research, also known as development research or fundraising research, is a technique through which fundraisers, development teams, and nonprofits gather relevant information about potential donors. Research methods include prospect screening companies, prospect research consultants, and in-house researchers.[1]
Prospect researchers are usually employees of universities, charities or other not for profit organizations. Some are freelancers, or work for private companies. Organizations generally employ prospect researchers to find and qualify potential "major" donors who have the resources to make a large gift to the organization, although the definition of a "large" gift can vary considerably. A prospect researcher will assess an individual's, company's or charitable trust or foundation's capacity and propensity to donate. Prospect researchers use a variety of resources, including public records, business and financial publications, and Internet databases.
Prospect researchers also focus their search on individuals, companies and foundations on their specific giving interests and philanthropic histories, should they already exist.
Most prospect researchers adhere to a code of ethics to protect both the institutions they represent and the prospects they research.
Prospect researchers conduct research to evaluate a prospect's ability to give, also called capacity (how prospect can financially contribute to your organization), their warmth toward the organization, also called affinity (how close the prospect feels to the organization), and propensity (how likely the individual is to give at all). Prospect researchers may also analyze data in a donor or constituent database to identify new potential major donors or to predict which groups of constituents are most likely to make major gifts.
Wealth ratings usually refer to a prospect's capacity to donate. One of the most common sources used by prospect researchers for this task are Rich Lists. The Sunday Times Rich List is widely referred to by prospect researchers, but its overall value is disputed. There is a large variety of algorithms that many scholars use to create a wealth score; most would agree in America real estate is the main indicator.
Research is generally conducted via the Internet, but it is also done with the use of subscribed databases like Xapien, Factiva, LexisNexis and FAME. A researcher may also use government-managed resources such as Companies House, the Charity Commission, or HM Land Registry. Other useful resources include Debrett's and Who's Who, which can provide good general background on any prospect.
Prospect research is an established component of the Prospect Development field pioneered by Bobbie J. Strand,[1] which also encompasses relationship/pipeline management and data analytics for advancement.
References
[edit]- ^ Strand, Bobbie J. (2008). A kaleidoscope of prospect development : the shapes and shades of major donor prospecting. Council for Advancement and Support of Education. Washington, DC: CASE. ISBN 0-89964-412-0. OCLC 263075443.
- Jennifer J. Filla; Helen E. Brown (18 March 2013). Prospect Research for Fundraisers: The Essential Handbook. John Wiley & Sons. pp. 20–21. ISBN 978-1-118-42157-4.