m3 Development: Wealth Screening Generates $650,000 from New Prospects for Hampton Library
The Hampton Library in Bridgehampton, Long Island, has raised $650,000 through two lead gifts in the first months of its $2 million campaign, thanks to Marc Saffren of m3 Development and WealthEngine screenings. Saffren notes, “These lead gifts came from donors that we never would have known about without WealthEngine and research.”
Saffren is founder and managing director of m3 Development, a consulting firm specializing in nonprofit management, fundraising, and strategic planning. The firm also provides counsel to family foundations. Saffren and m3 Development serve clients nationwide, although the majority are located in the New York Metro area. Saffren holds his CFRE and has worked in professional fundraising since 1992. Prior to founding m3 Development, Saffren was the Vice President for Development at the Jewish Fund for Justice.
Saffren has used WealthEngine for four years. Because of his work in development at Touro Law School in the early 1990s (and access to Lexis Nexis and other legal research databases), Saffren is familiar with and knows the value of using research to accomplish fundraising goals for the organizations with which he works. Typically, he uses WealthEngine every day to obtain individual profiles on prospects, do additional research before making solicitations and, most importantly perhaps, to find prospect opportunities that might never be identified.
Saffren describes how he used the WealthEngine screening to launch the campaign for the Hampton Library. He explains, “When I looked at the screening, I recognized the names of three siblings who were all trustees in their family foundation. I called the executive director of that foundation and told her that three of the trustees had homes in Bridgehampton. The connection was made – and resulted in a $150,000 gift. This was a gift we would never have gotten without research.”
“Another profile in the screening was for a man who was on the Forbes list of top hedge fund managers, making over $100 million annually. It turns out he was also a 39-year-old father who brings his kids to the Hampton Library each Saturday morning. That gift was for $500,000.”
“An organization should not be asking people for significant gifts without first having done their research,” stresses Saffren. “Otherwise, how would you ever know what to ask someone for? You need to know where someone has given, what they have given and how they have given.”
“Also, make sure that you utilize WealthEngine on a regular basis, beyond the screenings,” advises Saffren. “You need to access WealthEngine every day to do your job. The importance that research plays in the outcome of a fundraising effort should never be underestimated,” concludes Saffren.
To contact Marc Saffren and m3 Development, email msaffren@m3development.net or call 631/697-3577.
