Or Champagne Prospecting with a Kool-Aid Budget

Or Champagne Prospecting with a Kool-Aid Budget

Give an overview of building a pipeline Teach the how-tos Encourage investment of dollars, staff and/or time in your research process Suggest tools for learning more about your prospects Give tips for managing and making the most of your pipeline process

A defined group of constituents being cultivated and/or stewarded before being assigned to a portfolio A group of constituents identified as capable of a major gift Identified via prospect screening Identified via other means

All constituent names go into the hopper Screening determines capacity The high capacity names are your pipeline

Identify major gift prospects Build giving pyramid Increase giving Increase constituent participation

Create your Definitions Identify the Pipeline Team Determine Needs Determine Value/ROI Determine Budget Select Resources Determine how you ll manage the data Create stewardship opportunities Determine how you ll qualify

Define Major Gift Prospect Determined by institution $250,000 per year $25,000 over 5 years? Define Constituents Alumni Parents Community Patients Donors

Team? What team? Not enough staff for a team? One person can t do it alone, but. Even a very small development shop can build a pipeline team by including Board members Volunteers Faculty Major donors

Prospect Research Screen data Verify screened data Data Management Upload to database Manage in alternate format Qualification Stewardship

Which/how many records will you screen? Alumni, Parents, Donors Boards/Community Members How often will you screen? Monthly Weekly All at once How will you manage the data? I d b In database Outside of database

Screen 25,000 names MG = $25,000 over 5 years Conservatively ~ 5% (1,250) will qualify Approx. 10% of those (125) will give 125 x $25,000 Income of $3,125,000 Over 5 years = $625,000 per year

25,000 names screened 1 year About 2 hours per month Total of about 24 hours About $6,600600 $6,000 for screening tool $600 for staff time 25,000 names screened 25 years 2 hours per name 50,000 staff hours 2,000 work hours/year $1.25 million Avg. $25/hour X 50,000 hours Screening Tool No Screening Tool

Money? What money? You can t do this with free resources alone Must have at least one screening/research tool How much do you need to spend? Depends on vendor chosen Depends on vendor chosen Depends on # of names screened

I don t work for a research or screening vendor I ve never worked for a research or screening vendor I don t receive gifts or kickbacks for recommending any vendor(s) Each one has pros and cons I just have my own personal opinions and preferences

What is the cost? What information is returned? How is data submitted and returned? Does the data integrate with your database? Do you care whether it does? What kind of customer support is provided? d Is training provided? References?

Select based on your needs Price Database integration Data returned Major players Blackbaud Wealth Engine Donor Search GG&A

I can only give feedback on two of the majors Blackbaud Research Point Easy upload to Raiser s Edge Returns one capacity code Wealth Engine Web Express Returns full research data (real estate, stock, etc.) Returns full research data (real estate, stock, etc.) Need IT staff for uploads

Select based on your needs Best choice for my needs Wealth Engine Best value Most names screened for the price Full research data returned Combine with Online Research tool for one-at-atime researching

What does the data look like? Depends on vendor One code or full research What do you do with it? Upload to your database Store in Access or Excel How should you handle it? Verify before or after qualification Send out lists or give everyone access

Your donor database Ideal situation Probably need IT assistance/staff MS Access Good solution Need staff expertise MS Excel Simplest Not ideal hard to manage

Identify stewardship opportunities Mailings Events, lectures, galas, etc. Identify staff to conduct stewardship Alumni Office Annual Fund Determine data to be captured Mailings Invites Determine how to capture stewardship data Code in database

Why Qualify? Wealth Interest Determine if philanthropically inclined Give to your type of institution Who will do qualification calls? Development Director Major Gift Officer Alumni Director How will you do qualification? In person Phone

Steward Invite Cultivate Solicit Annual Fund Assign to a portfolio

Decide how assignments will be determined Course of study Region Who knows the prospect Determine timelines Within 3 months Within one week Determine guidelines A l 4 /? At least 4 contacts/year? What kinds of contacts?

Prospects removed for various reasons Best Case Scenario Portfolio assignment Worst Case Indicated d no interest Requested no contact What next? Code no contact Continue Annual Fund solicitation?

Identified Prospects are put into pipeline Continue Stewarding and soliciting by Annual Fund Remove to Portfolio Remove not qualified or interested t

What do we hope to accomplish? How do we define major gift? Who will manage the process? Do we have the budget? Can we afford not to? What infrastructure t do we need to establish? Researcher? More Development Officers?

Too many prospects, not enough time Too many prospects, not enough staff Not enough stewardship opportunities These are Good problems to have

Invest a little reap huge benefits Grow your prospect and donor pools Increase support for your institution Continue to do good for your students

Blackbaud www.blackbaud.com Wealth Engine www.wealthengine.comwealthengine Donor Search www.donorsearch.net GG&A www.grenzebachglier.com

Your institution s library Lexis/Nexis Academic www.lambresearch.com www.supportingadvancement.com www.zoominfo.com Google www.zillow.com

Contact for questions/comments Dana Reedy Director of Prospect Research and Advancement Services CSU San Marcos dreedy@csusm.edu 760-750-4401