The Art of Prospecting – Why the Right Donor Isn’t Always the Obvious One

One of the most common questions I get from nonprofit leaders is, “Do you know anyone who might give to our cause?” It’s an honest question—but not always the right starting point.

In the investment world, we don’t just look for someone with capital. We look for alignment—long-term thinking, risk tolerance, shared values. Fundraising is no different. The best donors aren’t always the wealthiest names on a list—they’re the ones whose values and timing align with the organization’s mission.

This became clear to me when I volunteered to help a small arts nonprofit that was struggling to expand its donor base. They were focused on one or two well-known names in the community—big givers, certainly—but the conversations went nowhere.

When we looked closer, those donors had little connection to the arts or the local cultural scene. Meanwhile, we had completely overlooked a younger couple who had recently sold their business and were quietly attending every performance. Once we engaged them, they became not only major donors, but passionate ambassadors for the cause.

So how do we approach prospecting more intentionally?

1. Know the Segments

Donors come in many forms, and each requires a different approach:

• Everyday Donors & Crowdfunding: These are your digital champions. They may give $25, but they bring their entire network with them. Campaigns with clear, time-bound goals work well here.

• High-Net-Worth Individuals & Family Offices: These donors often think like investors. They want to see leverage, outcomes, and long-term vision. Relationships matter more than pitch decks.

• Next-Gen Donors: Millennials and Gen Z often give differently—they care about immediacy, equity, and involvement. They’re more likely to give via social media or volunteer first before writing a check.

• Corporate & Institutional: Businesses may give through CSR, HR, or even marketing budgets. Understanding their motivations—brand alignment, employee engagement, local impact—is key.

• Foundations & DAFs: These require patience, relationship-building, and a clear understanding of their funding cycles and strategic focus areas.

  
  

2. Look Beyond Wealth

When I sit down with a nonprofit, I often ask, “Who already shows up?” Who’s attending your events, reading your newsletters, reposting your stories? Wealth is important—but interest is essential.

Some of the most committed philanthropists I’ve seen are quiet, thoughtful people who start small and grow into transformational givers—if the relationship is nurtured.

3. Build a Prospect Pipeline

Think of it as a dynamic list, not a static spreadsheet. It should include:

• Existing supporters (who haven’t been asked yet)

• Friends of board members and donors

• Lapsed donors

• Attendees at events or webinars

• People who’ve given to similar causes

From there, prioritize based on fit—not just funding potential.

4. Match the Message to the Audience

An email campaign might work for digital donors, but it won’t land with a private foundation. A casual coffee may move the needle with a next-gen donor but won’t satisfy a corporate funder’s due diligence team.

Fundraising isn’t one-size-fits-all. It’s more like portfolio management: different segments, different strategies.

In the end, great prospecting is about curiosity and connection. It’s about asking not just who can give, but who wants to be part of the mission. That’s where the magic begins.

Next up: “What’s Changing in Philanthropy: 6 Trends You Need to Know”