Nonprofits accept donations from all types of donors. However, a category of donations known as major gifts describes donors who gift the largest amounts. Interestingly, there is no industry standard for how much money counts as a major gift. Each organization must look at its donation pool and decide what it means to them. Major gifts typically help fund the projects and programs that make an impact. When creating a donor strategy, nonprofits use a process called wealth screening, powered by technology, to determine which donors are likely to have the capacity and interest to be major donors.
Giveffect, the all-in-one nonprofit management software, created an integration with DonorSearch, the industry’s top wealth screening tool, to perform wealth screening without leaving Giveffect’s CRM.
Wealth Screening Challenges many nonprofits experience
Most nonprofits do wealth screening in some capacity on a regular basis. There are specific pain points that nonprofits run into when determining a potential donor’s capacity to give. The most common pain point is that their software requires constant toggling between multiple systems.
Specifically, your current CRM software may require you to export donor information from your database first. Then, import that information into your wealth screening software. Next, export wealth screening information and upload that information back into the original CRM database. So many steps waste time, adds administrative work, are inconvenient, and are prone to human error.
For example:
Wealth Screening with Giveffect
Alternatively, Giveffect offers a comprehensive all-in-one nonprofit CRM and management software suite which seamlessly integrates with DonorSearch. This integration provides a robust online prospect research tool with wealth and philanthropy screening and analytics to uncover your best donors within one software suite.
Giveffect’s proprietary technology, Smart Automation, automates all of your wealth screening and donor management activities.
Donor Scenario:
Let’s say that our donor makes a one-time gift of $1,000 through a campaign or recurring event that your organization holds. With Smart Automation, the donation is automatically updated within their Giveffect profile as soon as the donation is processed. There is no need to manually enter the information anywhere else.
Wealth screening is done directly in individual profiles in Giveffect. This eliminates the need to leave the platform, download or export this information, and enter it manually into another system. Giveffect helps you uncover new opportunities that may have gone unnoticed.
Access these tools in just a few clicks. Let’s take a look at wealth screening with Giveffect:
Moves Management within Giveffect
Major donor cultivation requires a strong strategy, time, and organization. Within the Giveffect, you can instantly commence the Moves Management process as well. This process helps you keep track of the stage each prospective major donor is in. And helps you move donors through the stages. There are five basic steps within the moves management process: Identification, Qualification, Cultivation, Solicitation, and Stewardship.
Here’s a peek at the moves management experience within Giveffect. Easily add notes and assign tasks to team members, pulling donor information directly from your CRM all in one place.
Here’s another look at this powerful suite of wealth screening tools to determine which donors may be high-value, Then funnel your prospects through the pipeline from identification to stewardship:
Don’t forget, Giveffect’s wealth screening tools are also connected to our nine other systems. All user-completed actions and updates automatically update on the administrative end. Here’s an example of a 360-degree view donor profile within Giveffect.
The Giveffect wealth screening and major gifts system are fully integrated with all of the nine other software systems, which help your team perform prospect research to optimize fundraising efforts and move prospects through the pipeline more quickly and efficiently.
Not only that, but you can generate rich and comprehensive reports focused on everything from wealth and philanthropic giving, income, real estate holdings, relationships with other nonprofits, relationships with publicly held companies, stock transactions, and more. Quickly and easily search all of your records within seconds with reporting. To access these features, click the Reports tab at the left in the navigation bar on the backend.
Key takeaway:
Help your nonprofit identify and move your donor prospects move through your pipeline. Giveffect is integrated, automated, and connected to provide you with a comprehensive and easy-to-use tool to achieve your fundraising goals.
Want to learn more about how the Giveffect all-in-one software system can help your nonprofit in its wealth screening and donor efforts? Visit us online at www.giveffect.com.