The first Philanthropy Insights discussion covers how to qualify high net worth donors, tactics to yield meaningful conversations and moving prospects from giving intent to grantee identification.

Vice President and Managing Director of Geneva Global Nathaniel Heller hosts the first installment of Philanthropy Insights on how to build deep engagement with high net worth donors. He is joined by Kathryn Compton, Chief Development Officer at World Vision USA and Global Impact Board member, and Christin Cardone McClave, Chief Growth Office at AchieveNEXT, Global Impact Board member and high net worth donor. They discuss how to qualify high net worth donors, tactics to yield meaningful conversations and moving prospects from giving intent to grantee identification.

 

Key takeaways include: 

  • Every person is different. 
    The prospect process begins by gathering data. Ask questions and practice active listening to learn your prospect’s unique drivers, risk profile, appetite for giving and definition of success. Asking questions like “What are you passionate about?”, “What have you learned about this passion?” and “What is the impact you’re looking for?” will help guide the direction (Kathryn calls this the donor’s personal mission statement).  Especially when working with families or other giving units, identifying a clear set of shared values among the group makes the process more efficient. 
     
  • It’s a relationship, not a transaction.
    The goal is to create a mutually beneficial, years-long relationship that advises the prospect and enables them to eventually transfer their values down to their family. Transparency is the foundation of a successful relationship and as the relationship progresses, your role is to help the prospect become a well-informed philanthropist in their own right.  
     
  • Look for the ROI. 
    When helping the donor select an organization, find one that reports out on their impact (i.e. how many lives their program has changed), provides internal and external accountability measures, and is continuously learning and evolving. Additionally, the organization should make the experience personal to the donor, so they feel included as part of the solution.  

Philanthropy Insights is a new video series where Global Impact hosts discussions on emerging trends in the field with leading experts. Stay tuned for the next video on May 31 about how corporations select nonprofit partners.  

Contact us for help developing your high net worth donor strategy.