There’s nothing like a good talk show format to share more information about our newest updates! This week, GiveCampus colleagues Jacob-Clifton Albritton and Amy Jacobs connected to talk through a new addition to the GiveCampus Platform: GC Wealth Screening.
Ready to learn how your school can leverage GC Wealth Screening? Fill out the form below and we will be in touch soon.
Jacob Clifton: Hello and welcome to the first edition of Innovation at GiveCampus with Jacob Clifton. I am your host, Jacob Clifton! Today, I want to highlight a new addition to the GiveCampus Platform: GC Wealth Screening. I have invited Amy Jacobs, one of our product managers, to help up get a better understanding of this new exciting product!
Hi, Amy! Thank you for joining us today.
Amy: It’s a pleasure to be here. I am excited to share more about GC Wealth Screening.
Jacob Clifton: To start off, why don’t you give us a high level overview?
Amy: GC Wealth Screening helps our partners answer the all important question of “which constituents do I prioritize”. As a former Annual Fund person, I know that all constituents are important, AND by allowing you to more precisely identify major gift prospects through GC Wealth Screening, schools have the ability to better engage with donors who can make a significant difference for their institutions.
Jacob Clifton: Wow! That sounds really impactful. As a former prospect researcher, I would have LOVED a product like this. Can you tell us more about how this product differs from other wealth analytics tools?
Amy: Absolutely! There’s a couple key ways that GC Wealth Screening stands apart:
Because of our partnership with leading wealth analytics provider, Windfall, the data set for GC Wealth Screening focuses exclusively on constituents who have household net worth of $1million or more. By focusing on this specific demographic, the results are much more specific, accurate, and up-to-date.
For example, there isn’t a “cap” on our net worth estimates, so you’ll never see something like “$20 million plus” wondering exactly what that “plus” means. When you’re talking about these high net worth households – knowing whether someone has a net worth of $20 million or $500 million makes a big difference in how you think about engaging and soliciting that donor as well as the impact that donor can make.
Another important difference is that GC Wealth Screening uses deterministic data sources meaning the information you’ll receive is more precise, which allows you to invest your team’s time into donors who actually have a high net worth. While most other wealth screening tools make assumptions about wealth based on imprecise and unreliable factors like a zip code or even magazine subscriptions, GC Wealth Screening looks for deterministic sources such as tax filings, real estate records, and asset ownership to give factual information about your donor’s wealth.
One of the best parts is that GC Wealth Screening functions on a subscription basis – meaning you can screen as much data as you’d like, as often as you’d like. If you’re already using our Volunteer Management System, you’ll literally be able to click a button to screen all data in your VMS. How easy is that?
Jacob Clifton: That sounds super easy! But you are saying that a school can get updated information about their prospects as often as they would like them?
Amy: Yes! A huge value in GC Wealth Screening is that you can screen your data as often as you’d like. Schools typically use other wealth screening services to do periodic screenings – once a year or even once every few years – because those services update their data set much less frequently. The data set used for GC Wealth Screening is completely rebuilt weekly. Because you can screen your constituents as often as you’d like, GC Wealth Screening allows you to make sure that you’re not unintentionally leaving dollars on the table from major donors. We’ve already seen some incredible “hidden gems” in our early screenings for GiveCampus partners.
Jacob Clifton: Let’s dig into that more. What have those early results looked like for them?
Amy: One school screened 1,287 of their online donors. GC Wealth screening Identified 78 donors with net worth greater than $1M. 17 had a net worth greater than $5M, 6 had a net worth greater $10M and 1 had a net worth greater than $20M. All of these donors had only been giving at a participatory level. 30 of these 78 donors had never been flagged by other wealth screening/analytics tools or by prospect research and only 2 with net worth greater than $5M were assigned to a gift officer.
Jacob Clifton: These are some amazing results, Amy. I love that this data will give prospect management and gift officers insight into how to best engage and steward donors who have potential to make transformative gifts that would have otherwise been missed. This is great news for all of our current and future partners.
Amy: Yeah! It is pretty awesome!
Jacob Clifton: I have one more question for you Amy. I know many people watching this are excited about GC Wealth Screening and want to know how they can take advantage of this new offering! How can schools learn more about getting started with GC Wealth Screening?
Amy: That is an excellent question! If you are ready to learn more, click the link below to express interest and a member of our team will be in touch soon to give you more information. For our current partners, be sure to check out the Windfall session during GCPCGV!
Jacob Clifton: Amy, thank you so much for joining me today. You have taught us so much about GC Wealth Screening, and I cannot wait to see how much this product helps our partners reach new philanthropic heights.
Y’all, be sure to fill out the form on this page to express your interest. I know the team is so excited to meet each and every one of you, and to show you how this product can help you and your schools discover your hidden gems.
Thank you for joining me for the first edition of Innovation at GiveCampus! I will be back next week with more exciting news and updates from GiveCampus. Until then, continue to reach and inspire your community, making the world a better place, one donor at a time!