Prospect research
Encyclopedia
Prospect research, also known as development research or fundraising research, is a process in fundraising
wherein a researcher
identifies and provides relevant information about potential donors to an organization. Prospect researchers are usually employees of universities
, charities
or other not for profit organizations. Some are freelancers, or work for private companies. Organizations generally employ prospect researchers to find and qualify potential "major" donors who have the resources to make a large gift to the organization, although the definition of a "large" gift can vary considerably. A prospect researcher will assess an individual's, company
's or charitable trust
or foundation's capacity and propensity to donate. Prospect researchers use a variety of resources, including public records, business and financial publications, and Internet databases.
Most prospect researchers adhere to a code of ethics to protect both the institutions they represent and the prospects they research.
Prospect researchers will conduct research to evaluate a prospect's ability to give, also called capacity (how much the individual is worth) and warmth toward the organization, a.k.a. affinity (how close the prospect feels to the organization). Prospect researchers may also analyze data in a donor or constituent database to identify new potential major donors or to predict which groups of constituents are most likely to make major gifts.
Wealth ratings usually refer to a prospect's capacity to donate. One of the most common sources used by prospect researchers for this task are Rich Lists. The Sunday Times Rich List
is widely referred to by prospect researchers, but its overall value is disputed. There is a large variety of algorithms that many scholars use in regards to a wealth score, most would agree in America real estate is the main indicator.
Research is generally conducted via the Internet, but also with subscribed databases like Factiva
, LexisNexis
and FAME
. A researcher may also use government managed resources like Companies House
, the Charity Commission
or HM Land Registry
. Other useful resources include Debrett's
and Who's Who
, which can provide good general background on any prospect.
Fundraising
Fundraising or fund raising is the process of soliciting and gathering voluntary contributions as money or other resources, by requesting donations from individuals, businesses, charitable foundations, or governmental agencies...
wherein a researcher
Researcher
A researcher is somebody who performs research, the search for knowledge or in general any systematic investigation to establish facts. Researchers can work in academic, industrial, government, or private institutions.-Examples of research institutions:...
identifies and provides relevant information about potential donors to an organization. Prospect researchers are usually employees of universities
University
A university is an institution of higher education and research, which grants academic degrees in a variety of subjects. A university is an organisation that provides both undergraduate education and postgraduate education...
, charities
Charitable organization
A charitable organization is a type of non-profit organization . It differs from other types of NPOs in that it centers on philanthropic goals A charitable organization is a type of non-profit organization (NPO). It differs from other types of NPOs in that it centers on philanthropic goals A...
or other not for profit organizations. Some are freelancers, or work for private companies. Organizations generally employ prospect researchers to find and qualify potential "major" donors who have the resources to make a large gift to the organization, although the definition of a "large" gift can vary considerably. A prospect researcher will assess an individual's, company
Company
A company is a form of business organization. It is an association or collection of individual real persons and/or other companies, who each provide some form of capital. This group has a common purpose or focus and an aim of gaining profits. This collection, group or association of persons can be...
's or charitable trust
Charitable trust
A charitable trust is an irrevocable trust established for charitable purposes, and is a more specific term than "charitable organization".-United States:...
or foundation's capacity and propensity to donate. Prospect researchers use a variety of resources, including public records, business and financial publications, and Internet databases.
Most prospect researchers adhere to a code of ethics to protect both the institutions they represent and the prospects they research.
Prospect researchers will conduct research to evaluate a prospect's ability to give, also called capacity (how much the individual is worth) and warmth toward the organization, a.k.a. affinity (how close the prospect feels to the organization). Prospect researchers may also analyze data in a donor or constituent database to identify new potential major donors or to predict which groups of constituents are most likely to make major gifts.
Wealth ratings usually refer to a prospect's capacity to donate. One of the most common sources used by prospect researchers for this task are Rich Lists. The Sunday Times Rich List
Sunday Times Rich List
The Sunday Times Rich List is a list of the 1,000 wealthiest people or families in the United Kingdom, updated annually in April and published as a magazine supplement by British national Sunday newspaper The Sunday Times since 1989...
is widely referred to by prospect researchers, but its overall value is disputed. There is a large variety of algorithms that many scholars use in regards to a wealth score, most would agree in America real estate is the main indicator.
Research is generally conducted via the Internet, but also with subscribed databases like Factiva
Factiva
Factiva is a business information and research tool owned by Dow Jones & Company. Factiva aggregates content from both licensed and free sources, and provides organizations with search, alerting, dissemination, and other information management capabilities...
, LexisNexis
LexisNexis
LexisNexis Group is a company providing computer-assisted legal research services. In 2006 it had the world's largest electronic database for legal and public-records related information...
and FAME
FAME (database)
FAME is a time series database from SunGard which comes along with a suite of APIs and domain-specific programming language.- History :...
. A researcher may also use government managed resources like Companies House
Companies House
Companies House is the United Kingdom Registrar of Companies and is an Executive Agency of the United Kingdom Government Department for Business, Innovation and Skills . All forms of companies are incorporated and registered with Companies House and file specific details as required by the...
, the Charity Commission
Charity Commission
The Charity Commission for England and Wales is the non-ministerial government department that regulates registered charities in England and Wales....
or HM Land Registry
HM Land Registry
Land Registry is a non-ministerial government department and executive agency of the Government of the United Kingdom. It was created in 1862 to register the ownership of land and property in England and Wales...
. Other useful resources include Debrett's
Debrett's
Debrett’s is a specialist publisher, founded in 1769 with the publication of the first edition of The New Peerage. The name "Debrett's" honours John Debrett...
and Who's Who
Who's Who
Who's Who is the title of a number of reference publications, generally containing concise biographical information on a particular group of people...
, which can provide good general background on any prospect.