Top 5 Wealth Screening Software Providers for Your Nonprofit
Wealth screening is a valuable first step to prospect research. By knowing your donors’ wealth standing, you can tailor your asks to segments of your database or identify major donors.
But as valuable as wealth screening is, it’s not always easy to wade through an entire ocean of records on the search for your most valuable donors.
With wealth screening software, you get to put your donor data in capable, automated hands for fast results while you focus on other matters. To make that your reality, check out our analysis of the top 5 wealth screening software providers to find the perfect one for your nonprofit.
1. DonorSearch — Our Top Wealth Screening Software Provider
Wealth Screening Software Provider Overview
DonorSearch is the go-to wealth screening software. With its Integrated Search feature, you receive an exhaustive breakdown of your prospect’s wealth information and philanthropic history. And the best part is that by combining automated and manual research verification, DonorSearch’s wealth screening is 90% accurate. Compare that to the industry standard of around 70% for machine-generated data.
Best Features of DonorSearch’s Wealth Screening Software
Pulling from DonorSearch’s proprietary database, NPO Authority offers bulk screening for a minimum of 100 donors per batch. Like its partner DonorSearch, NPO Authority also combines electronic and manual screening for a 90% accuracy rate. Screening for planned gifts is also available.
Best Features of NPO Authority’s Screening Software
With Integrated Search and Gift Search, NPO Authority expands the ways you can find likely prospects:
You can search for common nicknames, not just first names, which widens your search.
You can screen prospects for their past gifts, finding trends that are invaluable for your planning.
You can research annual reports that name donors and gift recipients, looking for connections to new prospects through existing donors.
Pricing packages range from a $1,200 annual contract with unlimited access to searches, training, and online tools to a $1,495 annual contract complete with a free consultation and 1,000 records screened at once.
Timetric’s WealthInsight service focuses your attention on high net worth individuals. You can request detailed profiles of your prospects from just a list of their names, or you can provide criteria and request a list of names and profiles that match your guidelines. However your list comes to be, Timetric’s WealthInsight also keeps track of your prospect’s networks to look for other potential donors.
Best Features of Timetric’s Screening Software
Timing can be an important factor when sending asks. Timetric’s WealthInsight keeps on top of significant events in high net worth individuals’ lives so you can time your asks around them. Some significant events for donation that Timetric tracks are, for example:
Liquidity events, so you know when your prospects come into new wealth.
Donation events such as parties and galas, so you know when your prospects are in a charitable spirit.
Other events based on custom profiles of prospects’ interests, philanthropic and otherwise.
Direct sales inquiries to firstname.lastname@example.org.
PROscreen, a subset of iWave’s umbrella service Prospect Research Online (PRO), focuses on both potential donors’ capacity to give and their inclinations toward your specific organization or industry. The PROscreen tool rates prospects on their likelihood and ability to give to your organization. As an added bonus, the software integrates with a few popular CRMs.
Best Features of iWave’s Screening Software
iWave doesn’t want you to wait around. To save time and gather the most well-rounded information possible, PRO pulls from a wide array of databases to collect specific subsets of information linked to statistical propensity for charitable giving:
VeriGift, to better understand your prospect’s charitable giving history.
The Federal Election Commission and Elections Canada, for political contributions.
Thomson Reuters, diving into insider transactions and securities.
Fill out the online contact form to start a conversation about iWave and its products, including PROscreen.
Whether you’re a small nonprofit looking for your first major donors or a large organization ready to automate the process, there’s a wealth screening software solution out there for you. Take your time to research and find a software that will let you focus on the matters that need your attention more.
Head on over to these other pages to learn more about wealth screening and nonprofit software: