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Printable Guides: Prospect Research 101 (pdf) | Prospect Profile Template (doc) |
The basics of individual research include:
Financial status, such as corporate history which may include salary information and/or stock holdings, real estate and other assets
Biographical or family background, such as associations (corporate board memberships, nonprofit/volunteer board memberships, private clubs)
Philanthropic/favorite causes and charities, that reflect personal interests
Locating and analyzing financial information is crucial in establishing an appropriate ask amount for various types of giving (annual gifts, major gifts, planned gifts), in identifying assets that may be used to fund a gift, and in understanding a prospect’s current feeling of wealth.
For example, identifying real estate holdings is important. Real estate is often the most valuable asset a person holds so locating property is a key to understanding that person's donation capacity. Information including comps is available for free online; however it is not always completely accurate as the real estate market is constantly in flux. If a prospect has multiple residences it is a good indicator that there is wealth. Additionally, properties in trust are a sign that the prospect has done some sophisticated financial planning.
In addition, learning about a prospect’s social, civic, and biographical background and interests is important in fostering a meaningful relationship. Things to consider:
Club memberships
Civic committee memberships
Education
Political affiliations/perspectives
Family relationships, such as dates of birth and occupations of spouse and children; dates of marriages and/or divorces and names of relatives who have been involved with the organization
Hobbies or special skills
Finally, you should understand a prospect’s philanthropic tendencies:
Affiliations with foundations or philanthropic boards indicate that the prospect is charity-minded and understands the needs of nonprofits
Gifts to other organizations give you an idea of the prospects attitude towards philanthropy and what their average level of giving is
This can be important in determining if the prospect would be interested in your organization’s mission and in developing an appropriate solicitation strategy