Cape Cod Commercial Hook Fisherman's Association: Putting prospect research to work in a tough economy
“How is the economy affecting your nonprofit’s fundraising?” seems to be a common question as we continue to see the decline in the stock market and home sales, while the number of business closings grows.
Olivia Scozzafava of the Cape Cod Commercial Hook Fishermen’s Association (CCCHFA) says, “It’s even more important now, in this economy, for organizations to continue to develop and expand their circles of friends. Right now, it’s not necessarily about that gift, but it is about that relationship. When the time comes and the economy turns around, we want to be a strong presence in our community.”
Resources for nonprofits are always an issue, but in this time of financial crunch, resources may be even more limited. Scozzafava adds, “Our resources here at CCCHFA have traditionally been limited, so we’ve always strived for efficiency. Now, as we increase our outreach, efficiency is even more important. WealthEngine is the tool that ensures staff and volunteers at CCCHFA are focusing our efforts on those who have the greatest funding capacity.”
The Cape Cod Commercial Hook Fishermen’s Association was founded in 1991 by a small group of commercial hook and line fishermen. The organization’s major fundraising effort is the development of the Cape Cod Fisheries Trust which works to ensure a lasting future for sustainable fishing on Cape Cod by purchasing and managing fishing quota. Specifically, their fundraising goal is $10 million by 2011.
Scozzafava shares with WealthEngine what steps CCCHFA is taking now to weather the economy and meet its goals. This past summer, the organization hosted numerous cultivation events. Scozzafava relied on both WealthEngine’s donor screening capability and its online research tool in an effort to raise money and save resources.
“Basically, WealthEngine did the work for us. We gave them our data, and they identified the 500 top profiles. Then, we knew where to focus our efforts. We were also able to follow up with targeted appeals and personalized notes after the events, based on what we learned at the events and from WealthEngine,” explains Scozzafava. For a small organization, like CCCHFA, which has a staff of less than 10, this was a huge savings and helped contribute to the success of the cultivation events.
And, these events were successful beyond cultivation. Scozzafava says, “One attendee gave a first-time contribution of $10,000 – and we are now in discussions about future gifts. A number of other attendees gave first-time gifts of $1,000 or $2,000. Again, the WealthEngine screening helped us focus our time and money resources – and we got results.
“Dataquick has been another WealthEngine tool which has gotten great results and also saved us resources,” adds Scozzafava. “We had street addresses for taxpayers in our area, but not the mailing addresses. So, we would constantly get returned appeal letters. Now, we are able to mail directly to local residents using their P.O. addresses.
“WealthEngine works,” continues Scozzafava. “Other products may appear to have more bells and whistles and they come with a hefty price tag and longer learning process. Our organization doesn’t need tools that use more of our resources – WealthEngine is sophisticated and user-friendly. We need a prospect research tool that’s easy to use and that helps us bring in money. That’s WealthEngine.”
“When things do turn around, it’s going to be an absolute storm for donors and prospects. At CCCHFA, we want to make sure we are ready,” sums up Scozzafava. “Now is the time for networking and cultivating those relationships.”
