Despite the title of this popular article, we love wealth screenings here at HBG. What we don’t love is when all that time, work, and money spent on a wealth screening go to waste. My colleagues Maureen, Tara, Heather W. and I were talking about this one day, and we were brainstorming so many great ideas that I asked them if we could capture them in a podcast for you. [Read more…]
As you probably remember from my previous article on this topic, it’s a myth that high net worth people don’t use social media. Studies show that the adoption rate in that demographic is growing every day, too.
That’s great for those of us in fundraising, because new sources like these help us to (as Chris Carnie recently discussed in a terrific podcast with Ben Rymer) craft a donor-centered relationship for each individual donor – because we can (and should) treat them as individuals. [Read more…]
Out now are the Forbes Billionaires list (with a record 290 newcomers), and the 2015 Knight Frank Wealth Report, providing a global perspective on ultra high net worth individuals (UHNWIs) and the variety of ways they hold assets.
If the collective wealth of these 172,850 UHNWIs – clocking in at nearly $21 trillion – was the fuel moving a private jet, the sonic boom would be so stratospheric that the astronauts in the international space station would be able to hear it. According to the K F report, an average of 15 people joined the ranks of the ultra-wealthy every day last year. But even that group doesn’t have money like some have money. K F say:
“Moving up the wealth brackets, nearly 1,180 people became centa-millionaires in 2014, taking the world’s total population of those worth over $100m to 38,280.” [Read more…]
This month, I’m delighted that HBG Senior Researcher Elizabeth Roma shares her insights on Ultra High Net Worth Individuals (UHNWI) and their potential to affect transformational change in the world through philanthropy. Elizabeth and Kenny Tavares have been studying the infrastructure and impact of HNW Family Offices, and she will present a session on the topic in June at the Mid-Atlantic Researchers Conference in Baltimore. I hope you’ll be able to join her there!
Do you want to hear something that will blow your mind?
In 2010 there were 388 billionaires whose combined wealth was equal to the combined wealth of the poorest 50% of the world’s population.
Amazing, right? But that’s nothing.
In 2014 there were 80 people whose combined wealth equaled that of the poorest 50%. According to a report from Oxfam, the wealth of those 80 people has doubled since 2009. If these trends continue, Oxfam predicts that the richest 1% will have more wealth than the remaining 99% by 2016 (yes, that’s next year).
Things are changing, and not necessarily for the better (at least not for those of us in the 99%). But does this have to be all bad news? [Read more…]
Researching international prospects can be overwhelming, especially if you have a number of constituents and very little information. It’s fairly easy to hit up against a brick wall. What’s the most efficient way to get a window on your very best prospects overseas?
While not perfect, a wealth screening [Read more…]
Prospect identification is a bi-polar experience for many prospect researchers and analytics professionals: it’s both pure joy and deep-seated frustration. Not all of the time, but mostly.
On the one hand, it’s creative. It’s super fun. (And at work, yet!)
Prospecting sure beats the heck out of doing profiles. Not because profiles aren’t interesting in and of themselves, but because prospect ID projects come from *your* heart. You dream them up, you make them happen. Sure, the project may be in response to a request, but how you fulfill it uses your own chosen palette to create the masterpiece.
But then, on the other hand, you pass off the list of names and what do you hear back? Crickets. [Read more…]
One of the scariest things we know as fundraisers is that donor attrition is at stratospheric levels.
Studies by the renowned philanthropy scholar-evangelist Adrian Sargent have shown that (on average) charities lose 50 percent of their cash income from brand-new donors between their first and second gift, and up to 30 percent after that. (Read Dr. Sargeant’s outstanding article in Nonprofit Quarterly here). [Read more…]
These days, prospect research is seen as a fairly cerebral task where you sit at your desk gathering information using a computer while trying not to snack (or maybe that’s just me?).
Back in the day, though, being a researcher meant never needing to say “boy, I really need a gym membership.” Typically, a journal entry for a day would go something like this: [Read more…]
The theme for our HBG September blog is prospect identification and, because it’s one of her favorite activities, I asked Senior Researcher Jennifer Turner to give us some creative ideas for finding new donors. Over to you, Jen!
Your usual prospecting assignment: Find high net worth individuals (HNWIs) with the capacity to make a gift in a specific target range and with a likely interest in your cause.
Sounds like Prospecting 101, right?
Your usual method might be head to donor lists of organizations similar to yours to see who is giving, and at what level.
But what if you took some slightly unusual approaches – ones that shake up the traditional ways you normally prospect? Might that result in viable new prospects as well? My experience says yes! [Read more…]
“Yes, we did a wealth screening a couple of years ago. We didn’t really find it very helpful.” <pause>
“Well, to be honest, we didn’t really do anything with the information when it came back. It just kind of sat there.”
If I had a twenty for every time someone said that to me I’d be making major gifts already.
It absolutely kills me, too, because wealth screenings
a) are not cheap, and
b) can be worth every single penny.