Making Smooth Moves: Identifying Prospective Foundation Funders.
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Transcript of Making Smooth Moves: Identifying Prospective Foundation Funders.
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Making Smooth Moves:Identifying Prospective
Foundation Funders
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There are more than 100,000 foundations in the United States.
Foundation fundraising is experiencing a paradigm shift and has moved from a worthiness model to a business model.
As a result, nonprofit business organizations must restructure how they present and conduct their organizations—with specific focus on professionalism, efficiency, impact, and sustainability.
Fast Facts on Foundation Fundraising
For now we’re going to focus on efficiency.
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Prospecting: Why It Matters
Like gold prospecting in the 1800s, foundation fundraising requires a strategic and systematic approach.
If implemented well, your affiliate can: Develop focus Track progress Identify opportunities Focus on the most promising
prospects
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Prior to Prospecting:Make Smooth Moves
Position yourselves favorably in the community and your sector
Recognize your strengths as an organization
Perform a competitive analysis with similar organizations
Leverage current relationships and make them more dynamic
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Prospecting Step One:Identification
Identify the best prospects
Sift out foundations with little giving potential This will prevent
frustration and wasted effort.
This means: Research the
organization’s historical information
Search Internet, similar NPO donor lists, directories
Identify prospects through stakeholders
Expand network of current connections
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Prospecting Step Two:Qualify
Use 4-Point Assessment:1. Capacity to give2. Receptivity to new recipients3. Funding trends of giving interest4. Geography
A quick side note on geography.
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Location, Location, Location!:Foundations and the HFHI
Collaborative Development Policy
Fundraise in its local area or
Connect with foundations that have a “community presence”
If a foundation’s presence is unclear, the affiliate must: Collaborate with another local
affiliate to determine the geographical service area of the foundation and
Ask permission to pursue funding from that particular foundation.
HFHI policy dictates that each affiliate:
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Prospecting Step Two Continued:Qualify
As you qualify, Prioritize:
Foundations that best matches your affiliate based on the 4-Point Assessment and
Fulfills your affiliate’s financial and/or programmatic needs Create list of prospective foundations for each
program or project Include the amount your affiliate requests per foundation
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Conduct further research
Create a customized plan for each foundation
Call to confirm information and connect personally
Identify individuals who are connected your affiliate as well as to prospective foundations
Identify other levels of contact For example, engage and invite a foundation
representative to tour your facility or attend an event.
Prospecting Step Three: Cultivate
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Prospective
Foundation
Your Organizati
on
Aligning Your Research
• Analyze trends in a foundation’s giving
• Perform “competitive analysis,” i.e. compare the prospective foundation, as well as its trends, to a similar foundation(s)
• Use this intelligence to determine fundraising priorities
Alignment
Match your organization’s mission and
goals with the priorities of
the foundation.Then, begin the inquiry
process.
• Review current relationships and partnerships
• Draw in stakeholders
• Network for information and funding prospects
• Perform “4-point” assessment:
• Ask for the right amount
• Align interests
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Stake Your Claim:Where to Begin Foundation
Prospecting
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Is a fully-searchable, online database of foundations
Contains vital information about the funding history and priorities of over 100,000 U.S. foundations
Provides specific information you need to determine foundation prospects
FoundationSearch Basics
And the best part is…
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It’s free and available to HFH-NYS members now!
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Approximately 20% of foundations have websites. This means that 80% of foundations do not have widely
available information but instead provide it to specific companies and databases.
To maintain legal foundation status, foundations must give away 5% of their assets annually. In 2011, foundations provided approximately $80 billion
dollars in funding. You can enhance your ability to match your affiliate
with prospective foundations. For example, you can vet foundations by geographical
giving and stay in compliance with HFHI.
Why use FoundationSearch?
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FoundationSearch: Getting Started
Your Home Page
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FoundationSearch: Getting Started
Tools to Use Grant Analyzer
Grant Visualizer
Foundation Search
Foundation Visualizer
Prospect Generator
Profile Key Word Search
990PF Key Word Search
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Evaluate your affiliate and how you can fit it into the shifting foundation paradigm: What is your affiliate’s impact? What are your affiliate’s past successes? Is your organization structurally and financially
sustainable? What is your affiliate’s purpose or cause?
Start prospecting foundations Identify:
Employ the 4-Point Assessment Qualify:
Consider HFHI policy Cultivate
Moving Forward
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Questions, Comments?Talk to Judy.
Remember, keep it smooth.