As we celebrate our 25th anniversary, Andrew reflects on changes in the world of major donor fundraising and shares some of his proudest Prospecting for Gold moments.
What do you think has changed in major donor fundraising and prospect research since you founded Prospecting for Gold in 1999?
Many people have moved into major donor fundraising over the last couple of decades and they’re realising how important prospect research is. And so, bit by bit, prospect research is becoming more respected. My favourite tale about this comes from the University of Arizona. Nobody in their large fundraising team is allowed to contact a prospect until they’ve had sign off from the head of prospect research. We’re starting to see that kind of discipline in UK organisations too.
Has the way charities engage with donors changed, would you say?
I think so. It used to be that you’d invite people to the opera or the ballet. Now, people are more likely to want to go and see rock stars at the 02. And I think people want to meet others in environments they wouldn’t otherwise have access to. Anyone can see a celebrity on stage but not many can have dinner with them in their own home. If you can offer that kind of access, things can get interesting.
Another change I’ve seen is that some benefactors are a lot more open about their values and faith. On the other hand, I can think of charities who’ve spent years trying to remove all signs that they might have religious roots. But there’s a growing awareness that someone with an active faith or strong values (regardless of faith) is predisposed to be charitable, so these charities need to think about going back to their roots and embracing their history or driving home values.
An anniversary is a good excuse for a spot of naval gazing. When you look back at 25 years of Prospecting for Gold, what are you proud of?
I’m proud that we’ve lasted this long, helping over 2,000 charities and not for profit organisations. And I’m very proud of our team. We’ve really been open to flexible working to make sure people can have balance in their lives. We’ve also encouraged people to take time to volunteer. As a result, people have stayed with us for many years. And since becoming a fully virtual business in 2020, we’ve been able to recruit new team members who live further away – and everyone’s benefited from working more flexibly.
What’s coming up next for prospect research, do you think?
We’d like to see our research being shared more within fundraising teams. For example, if you take our wealth screening and get our match report, it can inform almost your entire fundraising strategy. The report will tell you how many directors and trustees are on your database; information you can share with corporate fundraising. Age profiles are brilliant for your legacy team. In essence, we want our research to support more fundraisers and enable our clients to raise more money for their charity.
Tell us about your 25th anniversary year – do you have any exciting plans?
We’re kicking the year off with our new website and the relaunch of our Million Pound Properties project, which has grown from roughly 200,000 to over 800,000 properties. And there’ll be a party in London in the summer. My problem is that I’ve spent my entire career advising clients not to waste too much time on anniversaries, as they’re generally useless for fundraising. But now I’m finding that, actually, we just want to celebrate!