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archive_AAD 640, Unit 4: Individual and Institutional Prospect Research

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UK Arts Administration

on 6 October 2017

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Transcript of archive_AAD 640, Unit 4: Individual and Institutional Prospect Research

Unit 4:
1. Donor Psychology: Why do certain people give?
2. Categories of Donors
3. Individual Prospect Research: The Moves Management System
4. The Moves
5. Institutional Prospect Research: The Four Filters Plus One Method
The Communitarian
Why Do we care about individuals?
The Devout
The Investor
The Socialite
The Repayer
The Altruist
The Dynast
Active supporters
Previously active supporters
Prospective supporters
Suspects
Name
Various addresses
Spouse’s name
Place of work
Complete giving history
Contact person (solicitor)
Communication plan
Plan for future fundraising
Category of donor
Donor type
The three C’s:
Capacity
Commitment
Connection
Measuring Capacity
• Expensive home, vacation home
• High-paying job, lucrative profession
• Owns a business, sold a business
• Professional, doctor, lawyer, etc.
• Drives a luxury car, has a boat, airplane
• Has an expensive hobby like flying or collecting cars
• Is over 60 years old. Older people have had longer to earn and save money, while younger people usually have many commitments, such as children and college loans.
• Travels a lot
• Is retired, even at a young age
• Younger people who do not work and have no apparent means of earning a living, and yet they live well.
• People who have inherited wealth—the sons/daughters and grandsons/granddaughters of other wealthy people.
Measuring Commitment and Connection
• Interest and support of the arts
• Has a large art collection and/or parents took them to museums as a young children
• Politically active, locally, statewide, and nationally
• Went to college to study art
• Active in their community with a variety of causes
Connection
Step One: Identifying Prospects
1. Subject Area
2. Geographic Preference
3. Type of Financial Need
Program or project funding
Capital or equipment purchases
Endowment funds
Technical development or capacity building
Seed funding
General operating support (very difficult to get, and will not provide funding to eliminate deficits)
4. Dollar Range of Grants
Relationships (+1)
Read local newspapers and clip articles about philanthropic gifts
Civic associations, banks, real estate companies, utilities, grocery stores, major retail outlets, and new franchises of national chains often make modest community grants
When an organization purchases computers or other expensive items from a vendor, it should inquire about the company’s community relations program.
Find personal contacts who can help your organization approach a grantmaker:
Perhaps a board member or volunteer knows a trustee at a foundation
A volunteer who works for a large company can contact the corporate foundation on your organization’s behalf
Another local agency that has received grants from a foundation can write a letter of support for your proposal
Large foundations and government agencies often issue an RFP or Request-For-Proposals announcement that details competition instructions and funding guidelines
Pay attention to the values, goals and priorities of the funding agency
Examine the amount, purpose and payment schedule for past grant awards
Look for the total assets and total annual grantmaking budget of the funder, which can be found on Guidestar.org
First-time proposals submitted to foundations for which an organization has no existing relationship should request a conservative grant amount
Many foundations are loyal to grantees; a modest initial gift can lead to ongoing partnerships with larger grants awarded each year
Corporate mergers often result changing the foundation landscape, both in the establishment of new community funding programs or reduced/eliminated programs
Look on company websites for pages related to corporate relations, community involvement, employee volunteer programs and press releases
Subscribe to free fundraising publications, visit nonprofit web sites and join email discussion groups for grantwriters. Professionals frequently share successful proposals and exchange insight about funders through these sources
1. We start with the connections the organization already has.
1. The organization should approach people who are most ready to give first.
2. Secondly, the organization will begin cultivating relationships with the individuals who are not quite ready to give now but are aware of the organization
3. Lastly, the organization will invest the time in developing relationships with people who just don’t know the organization very well.
Question: How do I begin to identify prospects?
Step Two: Donor Cultivation:
prioritizing prospects into manageable groups
cultivating them and soliciting gifts.
(a) reach out to the people who are most ready to give first,
(b) cultivate those who require more cultivation, and
(c) you can safely delay activity with those who are further down the list.
The solicitation
The right person
The right time
The right gift
Step Three: Closing the Loop
Prospect Research
• Expensive home, vacation home
• High-paying job, lucrative profession
• Owns a business, sold a business
• Professional, doctor, lawyer, etc.
• Drives a luxury car, has a boat, airplane
• Has an expensive hobby like flying or collecting cars
• Is over 60 years old. Older people have had longer to earn and save money, while younger people usually have many commitments, such as children and college loans.
• Travels a lot
• Is retired, even at a young age
• Younger people who do not work and have no apparent means of earning a living, and yet they live well.
• People who have inherited wealth—the sons/daughters and grandsons/granddaughters of other wealthy people.
• Expensive home, vacation home
• High-paying job, lucrative profession
• Owns a business, sold a business
• Professional, doctor, lawyer, etc.
• Drives a luxury car, has a boat, airplane
• Has an expensive hobby like flying or collecting cars
• Is over 60 years old. Older people have had longer to earn and save money, while younger people usually have many commitments, such as children and college loans.
• Travels a lot
• Is retired, even at a young age
• Younger people who do not work and have no apparent means of earning a living, and yet they live well.
• People who have inherited wealth—the sons/daughters and grandsons/granddaughters of other wealthy people.
• Expensive home, vacation home
• High-paying job, lucrative profession
• Owns a business, sold a business
• Professional, doctor, lawyer, etc.
• Drives a luxury car, has a boat, airplane
• Has an expensive hobby like flying or collecting cars
• Is over 60 years old. Older people have had longer to earn and save money, while younger people usually have many commitments, such as children and college loans.
• Travels a lot
• Is retired, even at a young age
• Younger people who do not work and have no apparent means of earning a living, and yet they live well.
• People who have inherited wealth—the sons/daughters and grandsons/granddaughters of other wealthy people.
1. The organization should approach people who are most ready to give first.
2. Secondly, the organization will begin cultivating relationships with the individuals who are not quite ready to give now but are aware of the organization
3. Lastly, the organization will invest the time in developing relationships with people who just don’t know the organization very well.
1. The organization should approach people who are most ready to give first.
2. Secondly, the organization will begin cultivating relationships with the individuals who are not quite ready to give now but are aware of the organization
3. Lastly, the organization will invest the time in developing relationships with people who just don’t know the organization very well.
Step Two: Donor Cultivation:
prioritizing prospects into manageable groups
cultivating them and soliciting gifts.
Step Two: Donor Cultivation:
prioritizing prospects into manageable groups
cultivating them and soliciting gifts.
(a) reach out to the people who are most ready to give first,
(b) cultivate those who require more cultivation, and
(c) you can safely delay activity with those who are further down the list.
(a) reach out to the people who are most ready to give first,
(b) cultivate those who require more cultivation, and
(c) you can safely delay activity with those who are further down the list.
Step Three: Closing the Loop
Step Three: Closing the Loop
1. Subject Area
1. Subject Area
2. Geographic Preference
2. Geographic Preference
2. Geographic Preference
3. Type of Financial Need
Program or project funding
Capital or equipment purchases
Endowment funds
Technical development or capacity building
Seed funding
General operating support (very difficult to get, and will not provide funding to eliminate deficits)
3. Type of Financial Need
Program or project funding
Capital or equipment purchases
Endowment funds
Technical development or capacity building
Seed funding
General operating support (very difficult to get, and will not provide funding to eliminate deficits)
Relationships (+1)
Relationships (+1)
Quick Tips on Institutional Giving Research:
A member of local galleries
• Interest and support of the arts
• Has a large art collection and/or parents took them to museums as a young children
• Politically active, locally, statewide, and nationally
• Went to college to study art
• Active in their community with a variety of causes
• Interest and support of the arts
• Has a large art collection and/or parents took them to museums as a young children
• Politically active, locally, statewide, and nationally
• Went to college to study art
• Active in their community with a variety of causes
• Interest and support of the arts
• Has a large art collection and/or parents took them to museums as a young children
• Politically active, locally, statewide, and nationally
• Went to college to study art
• Active in their community with a variety of causes
A member of local galleries
A member of local galleries
Full transcript