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Data Mystery to Cultivation Strategy: Investigating and Defining Families of Wealth

 

Multiple capital projects and scholarship endowments mean many opportunities to recognize the many families with multigenerational ties to Rollins to further or commemorate their relationship with the college. What started looking into a mysterious “Children of Notable Parents” inclination code turned into a developing strategy as we followed the code to its source and started a project will hopefully continue to produce results for our campaign. Beyond just investigating where this code came from and screening for new prospects, this was a comprehensive project that will reach from our major gift strategies to our data conversion.

 

After an analysis of the current coded group and augmentation by other segments, we arrived at these two groups that will be clearer and more useful going forward:

 

Family of Wealth:

  • Prospects who have potential to give beyond their objective wealth rating due to familial wealth, in partnership with other Rollins affiliated family members.

 

Future Prospects:

  • Prospects who demonstrate above average assets and/or giving for their age, and therefore could be above average givers in the future.

 

Defining these groups and the policies of the codes’ application was a necessary cleanup but also a chance to add another layer to our strategy for this campaign and the next. By identifying them earlier, we have the chance to develop a relationship that hopefully leads to increased affinity and philanthropy to the institution. Through trial and error and – hopefully soon, predictive modeling – we’ve identified over 120 assignments, including:

  • Individuals whose siblings or parents are major gift rated

  • Applicants for a legacy scholarship

  • Prospects with ties to family companies or foundations

 

From here, we’re rolling out assignments to either major gift officers for family cultivation or, if more appropriate, to leadership annual fund officers to begin their philanthropic journey with Rollins. The streamlining of physical codes in the system will also benefit our upcoming database conversion (and my own clean-data-loving peace of mind). It’s a work in progress, but one that has already generated results for this campaign and set us up for success in future endeavors. I can’t wait to share more at APRA FL!

About the Author:

 

Amanda Ward

Director, Research and Relationship Management

Rollins College

 

Amanda is the director of research and relationship management at Rollins College. She focuses on preparing profiles for meetings and events, proactive research to identify new prospects, and the parents program.

 

 

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