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A M Y H O L L A N D , C F R E D I R E C T O R O F D E V E L O P M E N T

T H E C U L T U R A L A R T S C E N T E R A T G L E N A L L E N

&

F . N I C H O L A S S O L L O G I I I , B C R E T H E S O L L O G G R O U P , L L C

Wealth Screening: A Consultative Approach to Analysis

How long have you been in development?

�  Less than a year

�  1-3

�  3-5

�  5-10

�  10+

How many are in your development shop?

�  2 or less

�  3-5

�  6-9

�  10+

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Have you done a wealth screening?

�  Yes

�  No

�  Not Sure

Outline

�  The Basics �  Wealth Screening 101 �  Case Study

�  Key Take Aways

The Basics

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First Things First

�  Do Your Records Have???

¡  Complete and Correct Mailing Address

¡  Phone Number

¡  E-mail Address

¡  Consistent Salutations

¡  Consistent Gift Codes

¡  Preferred Method of Contact

How Do I Fix It?

� Methods ¡  National Change of

Address

¡  Data Appends

¡  Wealth Screening

�  Vendors ¡  Whitepages.com

¡  Alumni Finder

¡  CRM’s

¡  Wealth Screening

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Donor Retention

� What is it?

� Why is it important?

� Other Types ¡  Re-capture Rate ¡  Consecutive Years

Wealth Screening 101

What is it?

Wealth screening is a subset of prospect research focused on wealth indicators such as real estate ownership, stock holdings in public companies, business affiliations, and known philanthropy...

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Why is it Important?

� Capacity

� Likelihood Score

� Segmentation Strategies

� Giving Amounts

� New Prospects

Things to Consider

�  Reason for Screening �  Data Related �  Giving Information �  What do you want answered??? �  Cost

�  Bandwidth

Vendors

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Scoring

� DS Rating System

� RFM

� Likelihood

Case Study

Challenges

�  New VP learning the donor base

�  Looking toward a major campaign

�  Desire to start a planned giving program �  Heavy reliance on event fundraising �  Shop of two full time development staff

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The Questions

� Which individuals are the best prospects for a major/campaign gift?

� Which individuals are the best prospects for a planned gift?

� Which individuals are the best prospects for an increased annual fund?

� What is the combined potential of those best individual prospects?

The Numbers

�  Focusing the Scope ¡  2,752 were screened ¡  1,292 had a DS 1-3 or higher ¡  538 had made a gift in the last 3 FY’s ¡  209 had made at least 3 gifts in their lifetime

�  Tiered Capacities

¡  Major Giving/Campaign Prospects ¡  Planned Giving Prospects ¡  Annual Giving Prospects

Total Potential

Tier 1 - 3 209 � $4,022 = average last reported gift � $7,272,348 = total given � $32,876,3272 = 1 year capacity � $1,643,814 = 5% of 1 year capacity � $7,865 = average size of gift based on capacity

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Next Steps

� Verification of return of all 209 prospects

� Target Ask & Strategy for top prospects

� Research profiles for prospects not well known by staff

� Use data for Direct Mail efforts

Segmentation Plan

� Criteria

¡  LYBUNTS

¡  SYBUNTS (2YR and 3YR)

¡  Wealth Screen Prospects

¡  Giving Levels

�  Tier 1 = $1,000 and up ¡  Ask - $1,000; $2,500;

$5,000 �  Tier 2 = $500 - $999

¡  Ask - $500; $1,000; $1,500

�  Tier 3 = $250 - $499 ¡  Ask - $250; $500; $1,000

�  Tier 4 = $100 - $249 ¡  Ask - $100; $250; $500

�  Tier 5 = $1 - $99 ¡  Ask - $25; $50; $100

Communication Plan

� Direct Mail 11/24

� Giving Tuesday 11/28 ¡  Social Media every 2 hours ¡  Personalized Emails

� Personalized Email ¡  Personalized Gratitude 12/20 ¡  Personalized Final Ask 12/29

�  Additional Social Media 12/27 – 12/31

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Stewardship Plan

Gift Level Method Timing Signature Follow-up ALL Letter 48hrs CEO/ED Annual Report

$1-99 Phone Call 1wk AGO Quarterly Gift-in-Action

$100-$249 Phone Call 1wk AGO Quarterly Gift-in-Action

$250-$499 Hand-written Note 1wk DOD Invite to a

group lunch

$500-$999 Hand-written Note 1wk DOD Phone Call

from CEO/ED

$1,000-$2,499 Hand-written Note 2wks CEO/ED Note from

Board Member

$2,500+ Phone Call Immediately CEO/ED Note + Visit/Tour

Direct Mail Return Report

Segment # Mailed# Gifts

ReceivedPercent Giving

Total $$ Amount

Average Gift Size

Tier 1 222 23 10% 101,000.00$ 4,391.30$ Tier 2 128 11 9% 7,200.00$ 654.55$ Tier 3 88 13 15% 5,000.00$ 384.62$ Tier 4 283 19 7% 3,450.00$ 181.58$ Tier 5 380 10 3% 5,800.00$ 580.00$ Total 1101 76 7% 122,450.00$ 1,611.18$

* Not actual numbers

Success!

Fiscal Year goal exceeded on January 9!

2016 2017Mailed 3100 1101Return 2% 6%

Response Increase 15%

Funds Raised Difference 255%

Cost per dollar raised 0.13$ 0.02$

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Key Take Aways

�  Know your data!

�  Determine your questions FIRST �  Wealth Screening is not just for Major Gifts

�  Track your results consistently

�  Adjust your plan accordingly

Playing in the Data

Contact Information

�  Amy:

¡  amyholland1015@gmail.com

�  Nick:

¡  nick.sollog@thesolloggroup.com ¡  Social Media Handles

÷  @thesolloggroup ÷  #TheResearchedAsk