WEALTH SCREENING

 

Wealth screening is a powerful tool that nonprofits can use to help determine donors’ capacities to give. As a subset of prospect research, wealth screening looks at top indicators of wealth like real estate ownership, business affiliations, and stock holdings in public companies. Mosaic has the tools to accomplish this important task. The Mosaic team is ready to help you be successful.

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WHY DO YOU USE WEALTH SCREENINGS FOR FUNDRAISING?

DETERMINE MATCHING GIFT ELIGIBILITY

If you can determine that certain gifts made by donors are match eligible, this can at least double the amount you receive from them.

How can you determine who is eligible for matching gifts?

Wealth screening can help you identify who among your constituents is eligible for a matching gift through their employer. For this purpose, Double the Donation, the leading matching gifts database software is one of the best software available take a look here.

When going through your prospects, Double the Donation indicates which of your constituents work for a company that offers matching gifts. Because of this, your team will know whom to reach out to and how.

FIND MAJOR DONOR PROSPECTS

Major donors are a crucial source of funds for any nonprofit.

As such, it’s imperative to find out who among your supporters could be ready to make a major gift to your organization.

Researching your donor base first using wealth screening techniques can help you identify who among them has the potential to become a major donor.

CREATE REALISTIC FUNDRAISING GOALS

Not every donor will be able to give the same amount. At its core, wealth screening answers a fundamental fundraising question:

How much can a given prospect realistically donate?

Once you have established an amount to expect from each of the prospects in your donor base, you can temper your fundraising expectations and set realistic goals for your nonprofit.

PLAN YOUR DIRECT ASKS

The more you know about your supporters, the better!

With the insight that wealth screening provides, you’re better equipped to accurately segment donors for targeted communications and design ask strategies around the ideal gift amount for each prospect.

Simply put, tailoring your asks to each prospect makes it that much harder for them to say no.

WHAT DATA SHOULD YOU HAVE IN A WEALTH SCREENING?

PHILANTHROPIC INDICATORS

Philanthropic indicators speak to a prospect’s affinity for charitable work and your organization. Logically, a donor who has given in the past and who has been involved with your nonprofit recently and frequently is a strong candidate for becoming a major gift donor.

PAST GIVING

The strongest indicator of future giving is past giving. Donors who have given between $5k and $10k to a nonprofit are 5 times more likely to make a charitable donation than the average person.

GEO Mapping

You can utilize location-based data to help pinpoint your target audience. You can use geo-mapping to precisely target your neighborhood mailings by radius in miles, next door, down the street, or a specific set of coordinates. Targeting your audience based on their location ensures you are focusing your attention around prospects and members who share a similar geographical area. Growing your membership base near your physical locations builds a strong sense of community.

POLITICAL GIVING

Political giving, traceable through publicly accessible databases, can provide a window into a donor’s wealth and inclination to give.

WEALTH MARKERS

These indicators are what typically comes to mind when people think about wealth screening. Above all else, wealth markers are simply signals of someone’s financial capacity to give — just as philanthropic markers are a good indication of a prospect’s willingness to donate to charity.

REAL ESTATE OWNERSHIP

Real estate ownership is a great indicator of wealth. An individual that owns $2+ million worth of real estate is 17 times more likely to give philanthropically than the average person.

STOCK OWNERSHIP

Stock ownership can give you an idea of a donor’s relative wealth and potential ability to give.

BUSINESS AFFILIATIONS

A two-fold indicator, business affiliations say a lot about a prospect’s own wealth and giving capacity while also revealing potential professional connections for your nonprofit. In addition, if you incorporate an automation platform for matching gifts, you can identify those who are eligible for matching gifts based on their employer email address.

Take your marketing to the next level with SnapShot, Mosaic’s automated service that statistically profiles your best customers.  Your loyalty customer data is matched against our comprehensive database of U.S. consumers or businesses to create a customized market penetration analysis. The strength of SnapShot lies in the demographic and firmographic overlays that reveal more detailed information about your customers.

Mosaic Marketing is a leader in Consumer Identity Management, our hi-quality data on 220 million U.S. individuals empowers marketers to optimize every single engagement. Find more qualified customers with Mosaic Marketing.