iWave Introduces New Insights Feature
iWave’s newest feature will help nonprofits further segment their database and make major gift asks with expert precision.
Charlottetown, 27 February 2019 – iWave is thrilled to announce the launch of our new Insights feature. Insights will help nonprofit development teams segment their database and uncover major gift prospects by analyzing an individual’s donation history with the specific organization as well as wealth and philanthropic indicators within iWave’s database.
A common challenge for many nonprofits is their database contains thousands of individuals that they know very little about. Among those thousands are Hidden Gems that have great major gift potential but haven’t yet been identified, and Champion Donors who have the capacity to donate and contribute specifically to your nonprofits. iWave’s new Insights will help nonprofits efficiently analyze and segment their database so they can more effectively action prospects and make major gift asks with expert precision.
iWave’s Insights build on the analysis of traditional wealth screening and capacity scoring which analyze external wealth and philanthropic information. Insights then combine this rating with an analysis of the individuals internal giving history with the specific nonprofit to segment and sort them into an actionable manner.
Insights segment prospects into four categories:
- Hidden Gems: Prospects who have great potential to become major gift donors. They have the capacity and are already giving to other nonprofits, though they are not giving much to yours.
- Distinguished Philanthropists: Great major gift donors who are interested in your organization and donate to your cause. They may also be giving to others and have could have additional capacity.
- Your Champions: High performers that have a proven affinity to your nonprofit and are already donating charitable gifts. They do not appear to be on the radar of other nonprofits.
- Not Now: Individuals that do not appear to be philanthropic with you or other nonprofits.
“I love the new insights feature and especially the Hidden Gems,” said Kelly Schoenberger, Chief Development Officer at Seminary Ridge Museum. “I used to spend hours doing research to try and uncover these individuals but now iWave does it for me. Sometimes I recognize the names of the Hidden Gems but with many of them, I had no idea they had capacity and were philanthropic. This is extremely helpful in meetings with leadership and our board as it helps them better understand our prospect pool.”
“We created this new feature to help our clients more effectively action their database,” said Gerry Lawless, CTO and Chief Evangelist at iWave. “Their internal database is the absolute best place to start when looking for prospects with a proven connection to your cause. Combining this information with their wealth information and external charitable giving to others is a very powerful way to segment and prioritize prospects.”
About iWave — iWave, the industry’s top-rated prospect research platform. Our solutions enable development departments to fundraise with confidence and determine who to ask, how much to ask for, and when to ask. Since 1991, clients from the United States, Canada, and the rest of the world have depended on iWave to power their development efforts.