Wealth Screening During a Campaign’s Feasibility Study and Quiet Phase

If you’re contemplating a capital campaign feasibility study, chances are you can already recite most of the names that will appear on your list of interviewees.

One-on-one conversations with board members, top donors, and engaged volunteers are among the most valuable fruits of a study. Finding out that your board chair is in the midst of a multi-year pledge to another organization, or that your top donor is interested in a substantial naming opportunity can help you create informed plans and goals.

But feasibility studies can also be extraordinary prospecting opportunities.

Early use of wealth screening tools can help you find the high-capacity, potentially game-changing donors who might be hiding in plain sight in the middle of your annual report list.

Screening and Studies – It’s Not Too Soon to Start

Even as you’re considering which consultant to engage, what study model to choose, and how to make the most compelling case for support, it’s not too early to think about screening your donor database.

Any wealth screening tool that uses publicly accessible information like past contributions, stock holdings, and real estate ownership – like Kindsight (formerly iWave), DonorSearch, and WealthEngine – will help you target donors with capacity and inclination to give. An initial wealth screening will provide a lot of information and hundreds of leads.

Questions Surrounding Your Feasibility Study

But wait, how many interviews make sense? How much time should we spend on this study? Let’s say you intend to interview 40 individuals. Your board, top donors, and most active volunteers will fill about 30 slots.

With wealth screening, you may identify an additional 40 to 60 prospects (giving you some padding in case not everyone is available for a study interview), while also enriching the profiles of the 30 you’ve already identified. Wealth screening information, combined with the giving information you already have, will help you strategically build out your study pool.

A Real-World Example

In one of my first studies, we sent a handful of interview request letters to current donors who our screening tool identified as philanthropic and likely to be interested. I remember meeting with a donor whose name wasn’t recognized by the staff or board. I went in without expectations, but came out inspired by her enthusiasm and unexpected level of financial commitment.

If a broad-brush approach can result in such fortunate surprises, looking more closely at the data can lead to even better results.

Wealth screening can give you a lot of information, but a person’s giving to other organizations tends to carry the most weight; a substantial investment in a group with a similar vision is a clear indicator of both philanthropic intent and genuine interest.

Many wealth screening tools also provide information about employers, nonprofit boards, and other memberships. This makes it much easier to make connections between a potential donor and someone in your network who can provide helpful advice.

Seeking Donor Connections in the Quiet Phase

While a study is a great opportunity to engage newer people as well as old friends, it’s just the beginning.

Once your study is complete and your quiet phase has begun, you will naturally focus on your most committed leaders and donors. Asking for those big, foundational gifts is one of the most exciting times for any fundraiser.

Achieving 20 or 30% of the goal in a matter of months is thrilling. But it’s important to remember that even if you have a large board and many committed donors, you still need to build your pipeline.

Don’t wait until the public launch to cast a wider net. I learned the hard way that putting off prospecting until a later phase can result in the dreaded campaign lull. After a quick start, it’s tough to face a plateau in dollars raised as you rush to cultivate new potential donors.

Running a cultivation effort parallel to your leadership gifts phase will help you steer clear of the doldrums.

Wealth Screening Can Guide the Way Early On

Unsure where to start? Wealth screening results can point you toward your best prospects.

Have you ever had a volunteer say, “I would be happy to host an event, but I need help identifying people to invite”? Your database – plus screening information – will enable you to create a list of philanthropic, committed guests who live in your volunteer’s area, or work in their field.

Another Real-World Example

For example, I once held a series of cultivation events for a conservation organization during the quiet phase. We didn’t mention the campaign or its goal, but we did introduce specific projects. The venues ranged from a board member’s elegant apartment to a rural working farm, and the Q and A sessions were especially lively.

Several attendees became donors and volunteers in the campaign’s next phase, which involved regional committees in key areas of the state.

While it’s largely true that an organization’s closest friends provide most of the campaign leadership and the bulk of the early gifts, it’s never too early to start building a wider circle.

Guided by wealth and affinity data, you can recruit the donors who will fuel your regional and public phases even as you secure lead gifts.