We know that the best way to raise money for our organizations is through face-to-face relationships with our prospects. Like any relationship, we must put in time and effort. But sometimes, you need more than a company biography or what is in your organization’s database to establish that connection and maintain it. Knowing how to find the right information can be a struggle.
Imagine that you board a plane and just when you have reached altitude, the pilot comes on over the microphone and tells you that although you are scheduled to land in two hours, there is no fuel gauge. The pilot tells you they are optimistic and determined to arrive on time anyway. Would you believe me if I told you this is the way many organizations start their capital campaigns? It’s true!
The report was full of so much valuable information, we decided to split it into two blog posts.
The 2023 Bank of America Study of Philanthropy report is the 9th biennial examination about philanthropic attitudes, priorities, and more for affluent US households in 2022. It is written as a collaboration between Bank of America and the Indiana University Lilly Family School of Philanthropy. It is based on 1,623 wealthy US households, defined as either a net worth $1M+ or annual household income of $200K+. The average mean income was $523,472 and average mean wealth of $31M.
Finding new prospects is often compared to fishing. You throw out a proverbial net and hopefully get an incredible number of fish in return. Some are going to be bigger than others; hopefully, you’ll throw the smaller fish back into the water to grow and thrive.
The report is the 4th annual global family office report by UBS. The report provides comprehensive research on family offices throughout the world. Participating in the study were 203 family offices, each with an average $2.2B net worth.
It’s been a bumpy road for cryptocurrency over the past year. In 2021, cryptocurrency did not seem to have any limit to its heights but in 2022, the crash came. Many predicted it was the end of crypto. But 2023 has been an interesting year with the price of Bitcoin rising again. The Giving Block, a full-service crypto exchange solution provider, predicts that over $1B in cryptocurrencies will have been donated by 2027. Boston Consulting Group forecasts that the crypto market will grow significantly by 2030.
Read More »Introducing Volatile Opportunity: A Guide to Cryptocurrency and Fundraising
The report is the 27th annual world wealth report by Capgemini Research Institute. The report analyzes the state of wealth and wealth management across the world in the prior calendar year. The report focuses on High Net Worth Individuals (HNWIs) defined as individuals with assets of $1M+ and over.
Asking for a major or transformative gift is a little bit like asking someone to marry you. You’ve (likely) been dating one another for a while and know quite a bit about your respective interests. Maybe you’ve discussed marriage; perhaps you haven’t. Ideally, you have an idea that the other person will actually say “yes.”
For some prospects, it’s easy to know how they made their money. For instance, if they are a CEO or some part of the C-suite at publicly traded firm, there will be information about their salary, stock and other types of equity (like stock options and restricted stock units).