EDUCATION

Why Prospect Research Is So Important to Gift Development

Prospect research is fundamental to guiding fundraising strategy and vital to identifying which potential donors have not only the inclination, but the financial capacity to support your nonprofit.  Properly completed, prospect research can greatly reduce the time and effort spent by gift officers to find the most likely and wealthiest supporters.  Without first identifying potential donors, major gift and planned giving officers will proceed blindly into the vast plethora of the donation world without information or direction.

The benefits of prospect research cannot be overestimated.  Specifically, good research will answer the following questions:

Once the above questions are answered, the gift-development cycle can be successfully launched, and the relationship-building process with each prospect will be much easier to start with face-to-face meetings.   Since the number of givers has now been pared down and prioritized to a manageable group, gift officers’ efforts will be more efficient.

Edward Stephon
Staff Writer, Major Gifts Today