Wealth Screening and Matching Gifts

(The Ultimate Guide)

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Wealth Screening Basics: What You Need to Know

What is donor wealth screening?

Wealth screening is one of the most-used prospect research strategies in today’s fundraising landscape. And it’s an excellent way for an organization to collect and analyze insights regarding an individual’s (or group of individuals’) ability to give.

The process involves a nonprofit using the information it has on a particular donor in order to uncover common indicators of financial prosperity. In order to locate such insights, the organization (or a third-party wealth screening solution) compares information in its donor database against external sources. These might include government databases, public records, and other online resources that help determine an individual’s estimated net worth and overall ability to give.

Types of wealth indicators to consider

So-called wealth markers can vary from one screening to the next. However, the research process typically includes attributes like these:

Stock holdings
Real estate ownership
Educational background
Careers or high-income professions
Business affiliations
Luxury vehicles and other high-end assets
Philanthropic history
Past political giving
And more!

Key advantages of wealth screening

According to trends in nonprofit data, fundraising, and corporate philanthropy, donor wealth data⁠—and having the right resources to leverage it⁠—goes a long way toward successful revenue generation⁠.

How? Prospect research strategies empower your team to identify and pursue the highest-value opportunities for your organization. And if you’re looking to increase your organization’s corporate revenue as well, wealth screening and matching gift efforts can work together seamlessly.

When done effectively, wealth screening enables fundraising organizations to reap substantial benefits in terms of donor relations, corporate philanthropy, and overall revenue growth.

Wealth screening vs. prospect research

Although wealth screening can be immensely beneficial, it’s important to recognize that it does have its limitations. The truth is that wealth screening is only part of what you need to determine a high-quality fundraising prospect.

A donor’s financial situation may speak to what they are capable of donating⁠. But it doesn’t account for the likelihood of them being willing to do so!

To best encompass the affinity factor, you’ll need a full prospect screening. This research process incorporates charitable indicators such as previous nonprofit involvement and donation history into its overall findings.

Common wealth screening use cases

Performing a wealth screening can be beneficial for your organization in many scenarios. These include:

Preparing for upcoming events.
Screening attendees for an upcoming fundraiser is a great way to make the most of your nonprofit’s and your guests’ time. Doing so allows your team to prioritize its attention on those with high capacities to give!
Uncovering major donor prospects.
Some donors may have a greater giving potential than you currently know. In order to scale up your major giving strategy, look for wealth indicators that signal an individual may have the financial means to make significant contributions to the cause.
Identifying candidates for planned or legacy giving programs.
Use wealth screening to locate individuals in your donor base with the potential for making legacy donations. Plus, research shows that participation in planned giving leads to an estimated increase of 75% in total annual gifts!

Informing your fundraising campaign objectives.
Gain insights into the collective wealth capacity of your donor base! This information can help guide the establishment of lofty yet realistic fundraising goals at the right level to inspire generosity.
Tailoring your individual donation asks.
A too-high donation appeal can result in rejected proposals, while a too-low one leaves potential funding on the table. Wealth screening can help your team calculate the request that is “just right” for each person.
Pursuing corporate matching gift opportunities.
As you conduct your research, you’re more likely to determine which donors qualify for matching gift programs through their employers. This not only opens doors for corporate giving revenue, but it also leads to increased individual giving as well!

How Wealth Screening and Matching Gifts Work Together

Uncovering matching gifts with wealth screening

Matching gifts are a form of corporate giving offered by companies to financially support the causes their staff cares about. Gift matches are most often made at a dollar-for-dollar rate, though some businesses supply up to $3 for every $1 donated by an employee.

It’s a great way to multiply fundraising success and amplify the total mission impact. Plus, a well-thought-out strategy can even result in unique opportunities for broader, long-term corporate partnerships!

Despite the many benefits of matching gifts, studies show that approximately 78% of match-eligible individuals are never made aware of these programs. This results in billions of corporate dollars going unclaimed each year, with only 7% of qualifying donors actually submitting their requests.

Luckily, these are issues we can solve. And donor wealth screening can play a significant role in the process!

Wealth screening and matching gifts statistics

Benefits of Wealth Screening and Matching Gifts

Increased overall fundraising and corporate giving revenue

A lot of effective fundraising⁠—matching gifts included⁠—relies on having the right data to drive your efforts. One of the best ways to collect this information (e.g., employment details) is through wealth screening.

Effective wealth screening practices can help identify your match-eligible donors, inform your personalized outreach practices, and drive more initial gifts and completed matches to the finish line. When donors are aware of their employers offering generous matching gift programs, an estimated 84% are more likely to engage in charitable giving. And 1 in 3 would contribute a larger amount when they know it will be matched.

The result? Simply mentioning matching gifts in a fundraising appeal produces a 71% increase in donation response rate⁠—and a 51% increase in the average gift size. And that’s even without accounting for companies’ fulfilled matches!

Targeted communications with high-value donors

In order to maximize results, you must engage with high-net-worth supporters in a strategic and relational way. If you typically employ automated email communications, consider a more personalized approach instead. This allows you to build deeper relationships and demonstrate your donors’ value as critical mission partners.

Thus, it’s important that you have the tools to screen and flag your highest-value supporters. Then, you can use the details you learn about each person to target and adjust your messaging accordingly.

For example, if you know that a major donor works for a company with a particularly generous matching gift program, look into their program guidelines and determine if a recent gift is eligible for a match. If so, share this information with the donor (as well as links to any online submission forms) so that they can easily take the next steps.

More comprehensive understanding of supporters

Knowing your donors requires a holistic view of each person rather than rows in a database or dollar signs on a check. Yet some of the information in your CRM⁠—and the wealth screening practices that supply such data⁠—can help inform your efforts as you establish an increasingly well-rounded understanding of your audience.

Not to mention, the more you know about their participation in (and availability of) workplace giving opportunities, the better you can understand their motivations for engaging with your cause.

Most donors give because they see the organizations they support doing great work with their hard-earned dollars. Thus, if a supporter is impact-driven, demonstrating how matching gifts multiply your organization’s influence can go a long way.

Best Practices to Drive Matching Gifts With Wealth Screening

Collect employer information while the donor gives.

Ensure your donation forms include optional fields for collecting employment information as users complete the giving process! Collecting this data during the giving experience is quick and easy for the donor (while they’re at the height of their engagement with your organization) and sets the stage for matching gift opportunities tied to donors’ employers.

Use employment data to target matching gift opportunities.

Next, leverage the information your donors supplied within your giving forms to identify and target matching gift opportunities. If you know Donor A works for Coca-Cola, for example, you can do a quick search to discover that the company matches employee gifts at a 2:1 ratio up to $20,000 per team member on an annual basis.

Integrate your wealth screening + matching gift tools.

We’ll talk more about our favorite wealth screening and matching gift resources below, but for now, keep in mind the power of a seamless integration. Since wealth screening and matching gifts work so well together, it makes sense to consider a screening tool that integrates with your donation-matching software to boost results and efficiency.

From there, you can integrate the tools into your donation process to help donors easily uncover matching gift information.

Consider matching gifts when flagging high-value supporters.

When flagging high-value supporters, make sure not to overlook their matching gift eligibility and the potential impact a match could make for your fundraising. We recommend identifying donors who have significant financial capacity and work for well-known⁠—and particularly generous⁠—matching gift companies.

In doing so, you have the chance to identify some mid-level donors who, when combined with a company match, can enter the major gifts threshold for the first time.

Market matching gifts to donors to increase participation.

Perhaps your wealth screenings have uncovered additional match-eligible donations. Just because your team is aware of the opportunity, however, doesn’t mean the donors themselves are. Thus, you’ll want to clearly communicate the availability of matching gift programs through various channels.

We recommend including relevant matching gift information in your newsletters, emails, social media posts, website, direct mailings, and just about any other donor-facing materials. And as you do so, reiterate the amplified impact their contributions can have through employer matching.

Update donor records to reflect matching gift insights.

You’ll likely want to update your donor records to incorporate matching gift information as a part of your donor stewardship cadence. If an individual indicates they’ve submitted their matching gift request, let them know how much you appreciate it and make a note in their file for future reference.

Plus, don’t forget that employment is not a static data point. Continue refreshing supporters’ profiles to keep track of changes in employment or matching gift eligibility. When you include a company search tool in your donation form, the old employer will be replaced in your database when a new one is supplied!

8 Steps to Take For More Successful Wealth Screenings

1. Clean Your Database

Prior to diving into your wealth screening, take a step back and begin by cleaning up your donor data.

You want to start your research off on the right foot, which means you should ensure that the existing donor information in your database is clean. Cleaner records will yield far more accurate screening results than messier data.

What does clean mean here?

Removing duplicate information — Don’t accidentally screen donors twice!
Purging lapsed donors — Don’t screen someone who hasn’t given in years!
Regularly updating dynamic data ⁠— Don’t let your donor info get stale! Refreshing employment information and other inconstant details can go a long way.

When we talk about clean data, we also need to mention database management on the whole.

If your team has the proper procedures in place for data input and handling and you have an effective CRM (constituent relationship management system), you’ll be positioning yourself for more effective fundraising across the board, wealth screening included.

Takeaway: The accuracy of your wealth screening results is directly correlated to the quality of the data you put in. Better data equals better output.

2. Screen Donors by Segment

Screening, though incredibly helpful, can be an extensive process. In order to maximize the effectiveness of your screenings, you’ll want to screen in segments. Find and use a charitable giving database that includes all kinds of useful metrics. This way, you can create prioritized lists that each address a different aspect of your fundraising needs.

Donors can be segmented according to many categories. These include:

Event attendees: This will not only increase the fundraising totals from your events but also help your team transition supporters from attendees to donors.
Major gift donors: Major gift donors are game-changers; your nonprofit should do all it can to find qualified prospects.
Loyal donors: Your most loyal supporters deserve additional recognition and stewardship. Not to mention, these are some of the best candidates for giving level upgrades.
Volunteers: Though they may not contribute to your organization financially, that doesn’t mean they lack the ability to. Consider screening some of your most dedicated volunteers to locate potential donors for your cause. You already know they care about the mission!

As you can see, each screening group assists your nonprofit with a specific area of your fundraising endeavors. For example, during the quiet phase of a capital campaign, you’re likely to host an event catered solely to major donors. In that case, a major gifts screening will tell you about your event attendees and vice versa.

Takeaway: When you segment your donor pool for wealth screening, you set your team up to capture more targeted, detailed results.

3. Uncover Business Connections

Double the Donation defines corporate philanthropy as “The act of a corporation or business promoting the welfare of others, generally through charitable donations of funds or time.”

So, how does that relate to wealth screening?

As part of the wealth screening process, you’ll likely reveal the key corporate connections of your prospects and donors. With that knowledge, you can then determine who of your major gift prospects work for companies with generous corporate philanthropy initiatives.

Then, you can use what you’ve learned to promote specific corporate giving programs⁠—like matching gift companies⁠—to prospects eligible to receive them.

Takeaway: With the right strategy, you can potentially use the results of a wealth screening to double a donor’s gift!

4. Study Up On Stock Ownership

Stock ownership in publicly held companies is one of the top means of analyzing donor wealth. As such, it should be included in robust wealth screenings.

As far as wealth markers go, stock ownership is one of the standards. Essentially, an individual’s stock ownership will establish a window into a donor’s total finances. You can then use that window to calculate giving capacity and determine your ideal donation asks and more.

Just remember that you’ll only be able to find data on the ownership of public companies online. From there, you’ll need to use your best judgment to assess how much of a donor’s wealth their stock ownership is.

Takeaway: Stock ownership is a major wealth indicator with great predictive value so long as you’re aware of its limitations.

5. Research Real Estate Holdings

Owning a lot of real estate is hard to do without a lot of money. For that reason alone, you’ll already want to include real estate in your wealth screening strategic plan.

But there’s more to it. Real estate ownership isn’t just a marker of wealth.

Statistically, individuals who own more than $2 million worth of real estate are significantly more likely than the average person to give charitably—up to 17 times more, actually.

Takeaway: Real estate ownership is more than just a wealth marker; it’s a statistical indicator of a prospective donor’s philanthropic interest.

6. Look Into Political Giving History

Political giving is one of those rare data types that teaches your nonprofit about both a prospect’s likelihood of giving and their ability to do so.

When someone donates to a political campaign, they’re demonstrating an openness to making contributions when they feel moved to do so. If your frontline fundraisers can engage those prospects to the same extent, there’s a good chance they’ll be willing to donate to your cause.

On the wealth side of things, the size of someone’s past political contributions can give you a sense of how much they’re able to donate to a specific campaign.

Because of this duality, political giving is a must-have indicator in any wealth screening. According to DonorSearch, in fact, those who give more than $2,500 in political gifts are 14 times more likely to donate charitably than those who do not.

Takeaway: By incorporating political giving analysis into your wealth screening, you get a 2-for-1 deal. You gain insight into wealth and philanthropy!

7. Confirm Your Results

Your solicitations are only as good as the data you’re relying on to plan them. When it comes to wealth screening results, data verification is a must!

Thus, when you receive donor data as part of a wealth screening, it’s crucial that your team is able to ensure its accuracy. And how you went about the screening process (in-house researchers, wealth screening software, consultants, etc.) will factor into the level of verification needed.

At the end of the day, you know your donors better than anyone. If something seems inaccurate within your results, don’t hesitate to double-check it!

Takeaway: Confirm the accuracy of your wealth screening results in order to feel confident in the information driving your solicitation strategy.

8. Apply Your Insights

Identifying and segmenting high-net-worth individuals is one thing, but converting that information into a useful conversion strategy is another. Luckily, the same information you used to identify your potential major donors can help you out when you make your ask.

After all, the most effective asks are the most specific. By incorporating tailored donation appeals, you increase your chances of a donor or prospect feeling a connection to your cause.

Therefore, when reaching out for major gifts, consider these two major components of your appeal strategy:

Ask size: The results of your wealth screening should give you an idea of a reasonably sized donation request for a particular donor. The goal is to find the sweet spot between asking too much (and getting nothing) and asking too little (and leaving funds on the table).
Giving history: You’ll definitely look into your donors’ giving history, which means you’ll have plenty of information about the causes and organizations they’ve supported in the past. Look for connections between their interests and the campaigns you’re running. Then, send specific information about the events or fundraisers you think they’ll be most likely to support.

Takeaway: Use the results of your wealth screening to tailor your asks to the amounts and campaigns your donors are most likely to support.

Top Wealth Screening Tools and Resources to Consider

When it comes to combining wealth screening and matching gifts, you know you’ll need the right tools for increased success and efficiency. Sure, you might be able to manually evaluate a small group of prospects with routine wealth indicators using tedious screening methods. And you could technically research each individual’s employer⁠—and the companies’ policies⁠—to determine their matching gift eligibility.

However, wealth screening and matching gift tools in tandem make the process a whole lot faster and easier for your team. This, in turn, allows your staff to invest its time and resources into other mission-valuable tasks.

Note: Hopefully, you’re already set up with a gift-matching database and automation solution—so now all you need is to add powerful wealth screening tools into the mix. But if you’ve yet to invest in a matching gift platform, we’ll cover that recommendation first.

360MatchPro by Double the Donation

Double the Donation’s flagship product, 360MatchPro can play a pivotal role in any nonprofit’s fundraising and corporate giving process.

As a platform designed to streamline and automate the matching gift fundraising experience, 360MatchPro equips organizations with valuable insights regarding their donors’ employment statuses and workplace giving eligibility.

Your team can then utilize the supplied data to not only identify and pursue opportunities such as matching gifts, volunteer grants, and more but to tailor its outreach efforts accordingly. Meanwhile, this additional layer of information also contributes to a more comprehensive understanding of your donors’ overall wealth and giving capacity.

Plus, it can seamlessly integrate into your organization’s existing fundraising workflows, allowing you to seamlessly initiate matching gift identification into your engagement strategies without disrupting established processes.

Free Wealth Screening Resources

FEC Filings

For nonprofits seeking comprehensive prospect research, FEC (Federal Election Commission) filings can serve as a goldmine of information. After all, a donor’s political contributions can provide invaluable insights into their values, interests, motivations, and philanthropic inclinations.

And in doing so, you can better understand and leverage a donor’s political affiliations in a way that showcases alignment between their values and your mission!

CHECK IT OUT

SEC Filings

SEC (Securities and Exchange Commission) filings can offer a unique perspective into potential donors’ buying and spending habits. Not to mention, an individual’s securities may also serve as valuable indicators of their wealth or financial standing.

When you understand a donor’s investments, you can better assess their capacity for major gifts. Plus, you may be able to locate opportunities for philanthropic initiatives that tie into a donor’s financial endeavors, empowering your team to tailor appeals to resonate with its audience.

CHECK IT OUT

A professional networking powerhouse, LinkedIn serves as a valuable tool for uncovering a donor’s professional history, affiliations, and more as a part of their wealth screening efforts.

For example, a LinkedIn profile typically showcases an individual’s current employment information and career history, providing insights into their business networks. From there, you can manually screen for workplace giving opportunities (if not equipped with a matching gift database already) and locate opportunities for donors’ support to be amplified.

CHECK IT OUT

The Million Dollar List

Compiled by the Indiana University Lilly Family School of Philanthropy, the Million Dollar List stands as an incredibly useful resource that catalogs publicly announced million-dollar-plus gifts. For nonprofits, tapping into this repository can provide inspiration and insights into potential donors within the wealth screening process.

Plus, it provides a treasure trove of major gift prospects! With search functionality by donor, recipient, location, and more, organizations are able to uncover particularly generous supporters.

CHECK IT OUT

DS Giving

DS Giving a free DonorSearch prospect research tool that allows users to locate information about potential donors using its search tool. As a fundraiser, all you have to do is supply relevant details, such as the individual or business name, the state in which they reside, and the type of gift you’re looking for.

Once you hit “search,” the information populates in real time, providing a snapshot view of the prospect in question, along with their recent charitable donations.

CHECK IT OUT

Paid Prospect Research Tools

In addition to free tools available online, there are also a number of subscription-based wealth screening solutions an organization can use to determine donors’ and prospects’ giving capacity. These resources typically provide more accurate and regularly updated financial estimates by initiating a fuller search of publicly and privately held datasets.

These kinds of powerful platforms offer unique and invaluable insights into some of your most critical donors and prospects. As a result, the tools are able to help charitable organizations like yours see substantially improved fundraising results.

This might include:

Customizable objectives based on whether your fundraising team is seeking major donations, annual fund donors, leadership gifts, planned giving, or other types of support.

Personal and household attribute management, which takes into account other interests, virtues, and signals beyond typical wealth markers.

Holistic perspectives that combine data from multiple points of engagement⁠—such as donor databases, events, alumni rosters, and member networks.

Data Enrichment Tools/Appends Services

Accurate donor data is a key tool in the wealth screening process. Knowing more about where your prospects live and work helps you understand their capacity to give.

Luckily, a data appends provider can supply your fundraising team with a wealth of invaluable insights regarding your organization’s supporters. In other words, you don’t have to know everything there is to know about your donors. An enrichment tool can help you fill in the gaps!

For example, let’s say you know a donor’s full name and email address, but you’re seeking additional information regarding their capacity to give. By cross-referencing against extensive database resources, a data appends service will provide additional insights (such as an individual’s employment status) that help your team build a more well-rounded understanding of the individual, their financial situation, and more.

Whether you’re a small nonprofit with only a few hundred donor records or an enterprise-level association with thousands of profiles to append, the right provider can help you track down vital information about your constituents.

Benefits of employer appends for matching gift screening

CHECK OUT OUR RECOMMENDED PROVIDER, NPOINFO

Prospect Research Consultants

Finally, a prospect research consulting firm can be a valuable ally for a nonprofit looking to enhance its wealth screening efforts but feeling like it’s out of their own depth. Such a fundraising consultant can play a crucial role in optimizing the process and unlocking new opportunities for success.

After all, a prospect research firm would supply specialized knowledge and expertise in wealth screening techniques. A consultant is going to be well-versed in utilizing various tools, databases, and methodologies to identify and assess the wealth and capacity of potential donors.

Not to mention, consulting firms can typically tailor wealth screening strategies to align with the specific goals and priorities of your nonprofit. They take into account your organization’s mission, fundraising objectives, and even the unique characteristics of your donor base.

Through a thorough wealth screening process, a consulting firm will likely identify several major gift prospects within your donor pool or larger network. This information can then assist in creating targeted and effective major gift drives, annual funds, capital campaigns, and more.

Concluding Thoughts + Further Reading

All in all, wealth screening and matching gifts are two of the most vital yet often overlooked fundraising strategies for nonprofits looking to scale their efforts. Each allows your team to better engage with your supporters in new and exciting ways.

When combined, these tactics empower organizations to raise substantial funds as efficiently as possible. And your donor relationships benefit, too!

Learn more about wealth screening and matching gifts with these other educational resources:

An Overview of Prospect Research

Learn more about matching gifts and wealth screening with our guide on prospect research

Effective prospect research goes beyond typical wealth screening. In this resource, we consider aspects of a donor’s ability and their affinity to give.

Read the ultimate guide to learn the ins and outs of prospect research and wealth screening for organizations like yours.

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Matching Gift Program Basics

Matching Gift Programs Additional Resources for Matching Gift Month

Wealth screening and matching gifts can go hand in hand. Learn how your team can increase its corporate matching gift fundraising efforts⁠—and how knowing more about your donors can help.

Check out the comprehensive guide to matching gift programs to learn more.

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Fundraising Software Buyer’s Guide

Buying Online Fundraising Software Additional Resources

A wealth screening solution is one of many types of fundraising tools your nonprofit can benefit from.

Find out what to look for in top fundraising platforms and how you can select the best fit for your team. Explore our nonprofit software buyer’s guide here!

READ NOW

Wealth Screening and Matching Gifts

(The Ultimate Guide)

Wealth Screening Basics: What You Need to Know

How Wealth Screening and Matching Gifts Work Together

Benefits of Wealth Screening and Matching Gifts

Increased overall fundraising and corporate giving revenue

Targeted communications with high-value donors

More comprehensive understanding of supporters

Best Practices to Drive Matching Gifts With Wealth Screening

8 Steps to Take For More Successful Wealth Screenings

1. Clean Your Database

2. Screen Donors by Segment

3. Uncover Business Connections

4. Study Up On Stock Ownership

5. Research Real Estate Holdings

6. Look Into Political Giving History

7. Confirm Your Results

8. Apply Your Insights

Top Wealth Screening Tools and Resources to Consider

360MatchPro by Double the Donation

Free Wealth Screening Resources

FEC Filings

SEC Filings

LinkedIn

The Million Dollar List

DS Giving

Paid Prospect Research Tools

Data Enrichment Tools/Appends Services

Prospect Research Consultants

Concluding Thoughts + Further Reading

An Overview of Prospect Research

Matching Gift Program Basics

Fundraising Software Buyer’s Guide

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