Fundraising is hard work. Ask any Development Officer or Executive Director. But, there are tools that make it easier. One such tool is wealth screening.
First, let’s define wealth screening. Wealth screening is a research tool you apply to your own database. Using information you have about your donors, you can find out which donors have the capabilities of making larger gifts to your ministry.
Why is this a good idea? It helps you pinpoint which donors share your missional passion that also have the means to financially help your ministry serve more people.
But why use DonorCompassSM ? What makes it different? There are two main reasons:
- DonorCompassSM allows you to research more records.
Many donor data systems offer wealth screening tools, but they have limitations. Some allow you to research only one name at a time. Other systems allow you to search a batch, but you are limited to a batch of 2,000 names only one time a year.
With DonorCompassSM you can research as many names as you like, and you can do any number of searches in a year. It saves you time!
- DonorCompassSM gives more realistic information.
Some wealth screening systems output information that’s not relevant. Information like who owns a pilot’s license or a boating license. Having a license does not necessarily mean you own a boat or a plane.
DonorCompassSM uses over 300 million gift records and picks up on common threads of giving behavior—resulting in more refined and accurate data.
What You Need
What type of information do you need to use DonorCompassSM? It’s not hard. If you have these pieces of information it’s a great start!
- Donor’s full name
- Residential address
- Total dollar amount they have given your organization for the past year
Of course, having additional information like their spouse’s name, their business address and even the address of any seasonal home they own gives you an even more accurate report.
Having the information does not magically make bigger donations appear. You must commit to using the information.
Advocace makes it easy!
The report data is color coded to help you recognize the gift capabilities of each donor. And, the report gives a Gift Capacity Rating, showing a range of possible gifts totals over the next five years from each donor.
Want to learn more about how DonorCompassSM can help you start conversations with the right donors? Download our free eBook—How to Discover Your Hidden Major Donors >>