Occasionally when reviewing the wealth screening results of an organization, I find that there are assets posted that suggest the extreme wealth of a young person. At these times, the development office may be discouraged once they discover that the assets are identified due to the primary address, last name and sometimes matching first name of the prospect and their parents. This is not necessarily a dead end.
Many secondary education, higher education and health care databases list the primary contact as the student or care recipient rather than the legal guardian. However, not every fundraising database has access to the age of the individual.
If your development database has access to an age indicator, such as class years or birthdates, run a query isolating those younger individuals where wealth is present in the screening returns. Consider a special approach of soliciting a gift from their family in honor of the young adult or minor.
If your database does not have access to an age indicator, a more careful eye must be used when confirming the wealth returns. Real estate records can be a reliable guide to the primary asset holder when the name of the parent and the child is different. When the name of the parent and child is similar and generational, rely on the suffix when it is present.
What kinds of approaches have you considered or implemented for this segment of your prospect pool?
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