PROSPECT RESEARCH: Myths, Misconceptions and Reality RESEARCH: Myths, Misconceptions and Reality Special Libraries Committee Prepared by: Greg Barber

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  • PROSPECT RESEARCH:

    Myths, Misconceptions and

    Reality

    Special Libraries Committee

    Prepared by:

    Greg Barber

  • The evening

    Nonprofit sector

    Sunnybrook

    What do Prospect Researchers do?

    What makes a great prospect?

    Data Mining to find new prospects

    Prospect Research example

    What do you mean you cant find that?

    Skills and Career

    Questions

    2

  • Nonprofit sector

    Canadas charitable and nonprofit sector is the 2nd

    largest in the world; the Netherlands is the largest; the

    United States is the 5th

    there are an estimated 170,000 nonprofits and charities

    in Canada

    2 million people are employed by these organizations

    representing 11.1% of the economically

    active population

    $106 billion or 8.1% of GDP (larger than the automotive

    or manufacturing industries)

    Source: Imagine Canada

    3

  • Bayview and Lawrence (north Toronto)

    1.2 million patient visits each year

    10,000 employees

    Heart, Cancer, Trauma, Women & Babies

    Sunnybrook Foundation raises about $60M

    annually

    4

  • Prospect Researchers

    Assist frontline fundraisers to find Major

    Donors for our organizations.

    Fundraisers AKA Major Gift Officers,

    Advancement Directors, Development Directors

    Prospects are potential donors, prospective

    donors

    5

  • Prospect Research and Major Gifts

    Major Donors = Major Gifts

    Largest donations that your organization will receive

    At Sunnybrook a major gift is $25,000

    Prospect Researchers research donors with $25K Capacity

    Capacity = Ability to give

    6

  • Who is a prospect?

    Myth: all rich people are prospects

    Related myth: Prospect Research is all about

    stalking rich people.

    Wealth and philanthropy are key

    But not all wealthy people are prospects

    7

  • Major Gifts Cold Calls

    To get Major Donors/Major Gifts a charity

    needs

    Connection(s) to the prospect/donor

    Who can help? Who do we know that

    knows them?

    Board member, volunteer, friend,

    physician

    Funding interest

    Health care

    A way in8

  • Gates Foundation funding interest --

    supporting developing countries

    9

  • Major Gifts, Major Donors

    10

  • Connections, Funding interest

    Loretta Rogers has been a

    Toronto General Hospital

    Foundation board member

    since 2005

    Ted Rogers suffered from heart issues

    11

  • Where do we find great prospects?

    The best prospects are

    already giving you money

    Data Mining

    Internal information

    Raisers Edge (RE)

    Donor Management

    Database

    Daily screening of gifts of $1,000+

    Looking for signs of Capacity to give $25K+

    12

  • After $1K+ screening, do research to

    find:

    Gifts to Sunnybrook

    Connection(s)

    Career, biography

    Wealth

    Philanthropy

    13

  • Data Mining $1K+ example Robert M.

    Ogilvie

    Robert gave $1,000 in December 2015 in response

    to the annual board appeal.

    Previously he gave $5,000 to Heart Centre in

    2013; he gave $5,000 to Heart in 2012 as well.

    His company, Toromont Industries, sponsored the

    Golf Classic in 2014 at the request of board

    member Don Jay.

    Robert and Don golfed together at the event.

    14

  • Robert looks like a great prospect!

    Total giving $11K

    (Possible) funding interest

    Program area (Heart)

    Timing of the gift

    Recently - December 2015

    Connection

    Robert and Don Jay golfed together.

    Board member Don Jay is our connection.

    We can ask Don to help us approach Robert.

    15

  • Additional research on Robert

    Career, biography easier for public companies

    16

  • 17

  • Roberts wealth

    SEDAR filings

    Five top paid executives of a public company

    Compensation, shares held, value of shares

    18

  • But usually

    Most prospects will be less visible and not

    with public companies Job title

    President, Owner, Founder, Partner, Managing

    Partner

    Private company revenues

    Scotts, Hoovers

    News, size, scope, operations

    Any public wealth information you can cobble

    together

    19

  • Less visible people, private companies

    Robert is the Founder and Managing Partner of

    Lampfield Capital which has $60M in assets under

    management.

    Robert presides over several privately held

    companies in Markham. No revenue figures are

    available. The companies include Bonwick

    Enterprises, a soil testing company founded in

    1986 which has 25 employees and offices in

    Calgary as well as Markham.

    20

  • Roberts real estate

    21

  • But usually

    Less real estate information is found

    Prominent neighbourhood, street

    Robert lives in Hoggs Hollow on

    Donwoods Drive

    Dilemma of the $1M home in Toronto

    Homes elsewhere

    Florida

    County tax appraisal records

    Cottage

    22

  • Roberts philanthropy - where else has

    Robert made major gifts?

    PRO Online, Charity Can

    Aggregators of Donor Reports

    23

  • But sometimes

    Robert has no major giving history.

    Smaller gifts $1,000+, $5,000 not usually

    of interest

    $10,000+ is the floor

    Absence of major gifts elsewhere is not a

    problem if there is already giving to your

    charity, wealth and connections.

    24

  • Packaging, format. How you present

    research depends on workplace, workstyle

    Gifts to Sunnybrook

    Connection(s)

    Career, biography

    Wealth

    Philanthropy

    25

  • Myth: Prospect Research is all about

    research profiles

    Name Title/Company

    Connection SunnybrookAffiliation

    Research Notes

    Recommendations

    Robert Ogilvie

    ChairmanToromont Industries (construction and heavy equipment seller)

    He is connected to SF board member Don Jay.

    Robert has given $11,678 to SB including $10K to Heart. Last gift in Dec 2015.

    His company sponsored the golf classic at the request of Don Jay and they golfed together.

    Robert holdsToromont shares worth $63.5M.

    He has given $5M to Mount Allison University.

    Consult with Don Jay. He appears to know Robert well.

    26

  • Myth: Prospect Researchers can find anything about anyone

    Did Sandra Chang

    sell her family

    company? For

    how much?

    Whats the status

    of the XYZ Corp

    IPO?

    How old is she?

    Didnt she just

    divorce her

    husband?

    Why did they

    make that gift? Is

    the pledge done

    yet?

    When will his term

    on that board

    end?

    27

    Norm Jones is

    heavily invested in

    gold. We need to

    track gold prices.

    How is Jon Smith

    related to Alan

    Smith?

    We need a family

    tree for the Clark

    Family!

  • Career landscape

    53% work for Higher Education; 19% for Healthcare; 9%

    for arts & Culture

    91% work full-time; 3% contract

    60% have completed Masters degrees while only 50%

    of the positions require Master level

    61% earned $50,000 - $79,999.

    The average salary was $65,000 in 2013

    Source: Membership Survey. APRA Canada (Association of Professional Researchers in

    Advancement), 2013.

    28

  • Skills

    Research needs to be your passion

    But learn to think like a fundraiser

    Business/company/industry research

    Investment terminology, financial services

    industry

    SEDI, SEDAR

    Read business section, appointment notices

    Fundraising industry

    Raisers Edge

    Volunteer experience

    29

  • Skills

    Excel

    Less for math than sorting, creating lists of prospects

    Data mining, data quality, data cleansing

    Information Management, Knowledge Management

    Patience, persistence, skepticism

    Creativity, strategy

    Discretion

    Further Reading: APRA Body of Knowledge for Prospect Development

    Professionals

    30

  • Courses, Learning

    iSchool offering elective this year; one day

    workshop in the past; both taught by Jennifer Zhang

    Hogan, Cecilia. (2008). Prospect Research: A

    Primer for Growing Nonprofits. Boston: Jones and

    Bartlett.

    Prospect Research in Canada: An Essential Guide

    for Researchers and Fundraisers [forthcoming]

    APRA Canada. Civic Sector Press, 2016.

    31

  • Network

    APRA Canada

    Semi-annual conference Oct 12 14, 2016,

    Toronto, Courtyard Marriot

    Webinars periodically

    Toronto social meetups

    Mentoring program for new researchers

    32

  • Questions?

    33

  • Thank You!

    Greg Barber

    greg.barber@sunnybrook.ca

    gbarber000@sympatico.ca

    34

    mailto:Greg.Barber@sunnybrook.camailto:gbarber000@sympatico.ca