Nonprofit Board Builder LLC

FUNDER RESEARCH BLUEPRINT

Change Agents concept, Leadership changes to develop the organization for success, Businessman holding a human icon with word Change Agent.

Funders Prospecting

 

Email 1: To Your Board Members
 

Subject: Your connections are our superpower

Hi [Board Member Name],

Thank you again for your incredible energy and commitment as we build this new chapter for [Organization Name].

This is where our strategic plan moves from the whiteboard to the real world. As we discussed, the first and most important step in building our financial sustainability is connecting with people who have a natural reason to care about our work. This is where your leadership and network become our greatest asset.

To make this process easy and focused, I've attached two documents:

Our Benefactor List: A list of the types of professions and groups that benefit most from our mission. Think of this as a "thought-starter" to help you brainstorm.
Your Relationship Mapping Matrix: A simple grid to capture your thoughts.
Your Action: Please take 15 minutes this week to look at the benefactor list and fill out the mapping matrix with 3-5 people, companies, or organizations from your network who come to mind.

Your connections are the warm introductions that will open doors we could never open alone. Please send your completed matrix back to me by [Deadline].

Let's build this together.

Best,

Your Name, Role, and Organization + Contact details

 
 

Email 2: To Your Existing Supporters
 

Subject: A different way you can help [Nonprofit Name]

Hi [Supporter Name],

Your support for [Nonprofit Name] has been so important to our work, and I'm writing to you today because I truly value your perspective.

As we look to grow our impact this year, we are focused on building relationships with new people and businesses in our community who have a natural reason to care about our mission.

You know our work and our community so well, which is why I'm reaching out for your advice.

I've attached a short list of the types of groups and professions that benefit from our work (for example, [list 2-3 examples from your benefactor list]).

My question for you is simple: Does anyone in your network come to mind who fits these profiles?

If someone does, would you be willing to reply to this email with their name, or even better, make a simple email introduction? Your personal connection is the most powerful endorsement we could ever ask for and can help us make an even bigger impact.

Thank you for being such a vital part of our community.

Gratefully,

Your Name, Role, and Organization + Contact details

The Benefactor-Based Relationship Mapping Form


[INSERT YOUR ORGANIZATION'S LOGO HERE]

Unlocking Our Collective Network: A Strategic Approach

As leaders and ambassadors for [ORGANIZATION NAME], our collective network is one of our most powerful, untapped assets. The purpose of this exercise is not to create a list of wealthy friends to ask for money. This is a strategic tool to help us identify individuals, businesses, and community leaders who have a natural, vested interest in our success.

We will do this by using the attached Benefactor List—the list of professions and groups that directly or indirectly benefit from our work.

Your role is simply to act as a bridge, to help us open the door to a conversation. Your insights are invaluable. Please take 20-30 minutes to thoughtfully consider your connections through the lens of our benefactors.

Board Member Information

Full Name: ____________________________________________________

Date: ______________________

Instructions:
Review the attached Benefactor List. This is your guide and your "thought-starter."
For each benefactor profile on that list (e.g., "Real Estate Agents," "Local Employers," "Healthcare Providers"), brainstorm people or companies you know who fit that description.
Fill out the sections below with at least 3-5 contacts. Don't second-guess yourself; if someone comes to mind, write them down.

Your Relationship Map
Please fill out the following for each contact you identify.

Contact #1

Name of Contact / Company: _________________________________________________
Benefactor Profile (from the list): _________________________________________________
Your Relationship (e.g., Friend, Client, Colleague): _________________________________________________
Why They Might Care / The Connection: _________________________________________________
Willing to Introduce? (Y/N): _________________________________________________
Best Way to Approach? (e.g., Email, Coffee, Event Invite): _________________________________________________

Contact #2

Name of Contact / Company: _________________________________________________
Benefactor Profile (from the list): _________________________________________________
Your Relationship (e.g., Friend, Client, Colleague): _________________________________________________
Why They Might Care / The Connection: _________________________________________________
Willing to Introduce? (Y/N): _________________________________________________
Best Way to Approach? (e.g., Email, Coffee, Event Invite): _________________________________________________

Contact #3

Name of Contact / Company: _________________________________________________
Benefactor Profile (from the list): _________________________________________________
Your Relationship (e.g., Friend, Client, Colleague): _________________________________________________
Why They Might Care / The Connection: _________________________________________________
Willing to Introduce? (Y/N): _________________________________________________
Best Way to Approach? (e.g., Email, Coffee, Event Invite): _________________________________________________

Contact #4

Name of Contact / Company: _________________________________________________
Benefactor Profile (from the list): _________________________________________________
Your Relationship (e.g., Friend, Client, Colleague): _________________________________________________
Why They Might Care / The Connection: _________________________________________________
Willing to Introduce? (Y/N): _________________________________________________
Best Way to Approach? (e.g., Email, Coffee, Event Invite): _________________________________________________

Contact #5

Name of Contact / Company: _________________________________________________
Benefactor Profile (from the list): _________________________________________________
Your Relationship (e.g., Friend, Client, Colleague): _________________________________________________
Why They Might Care / The Connection: _________________________________________________
Willing to Introduce? (Y/N): _________________________________________________
Best Way to Approach? (e.g., Email, Coffee, Event Invite): _________________________________________________
Thank you for your thoughtful participation. Your network is a powerful force for good, and this exercise is the first step in channeling it to advance our shared mission.

Please return this worksheet to the board chair or the executive director by [Deadline].

Nonprofit Prospecting and Business Research Platforms: Costs, Pros, and Cons (2025)

Building a targeted prospect list is critical for nonprofit founders aiming to achieve financial sustainability. Prospecting platforms help identify high-potential donors, businesses, and grantmakers by analyzing wealth, giving history, and mission alignment. Business research platforms are particularly valuable for identifying corporate sponsors and partners whose goals align with your nonprofit’s mission. This guide expands on the previously mentioned platforms (iWave, DonorScope, Clay, Foundation Directory Online, GrantStation) and includes additional tools for donor prospecting and business research. Each entry provides estimated costs, pros, cons, and suitability for nonprofit fundraising, with a focus on business research where relevant. Pricing is approximate as of July 2025 and may vary; contact providers for exact quotes.

1. iWave
Purpose: Wealth screening and prospect research platform for identifying high-capacity donors, businesses, and grantmakers.

Estimated Cost:

~$3,000-$5,000/year for small nonprofits (base tier).
Custom pricing for advanced features or larger organizations.
Free trial available; visit iwave.com for details.

Pros:

  • Comprehensive data: Analyzes wealth, philanthropy, and business affiliations from public sources (e.g., real estate, SEC filings, corporate giving).
  • Business research: Identifies corporate donors through CSR (Corporate Social Responsibility) programs and foundation giving.
  • Custom scoring: Machine learning ranks prospects by capacity and affinity.
    Integrations: Syncs with CRMs like Salesforce and Blackbaud.
  • Grant research: Strong for finding foundations aligned with your mission.

Cons:

  • Expensive for small nonprofits: Annual cost may strain limited budgets.
  • Learning curve: Advanced features require training.
  • Limited real-time social media data: Less focus on social media prospecting.
  • Business Research Relevance: iWave’s business research capabilities include analyzing corporate foundations and CSR initiatives, making it useful for identifying local and national businesses with a history of supporting causes like yours.

Best For: Mid-sized to large nonprofits seeking detailed donor and business prospecting.


2. DonorScope
Purpose: Prospect research and wealth screening focused on donor capacity and giving history.

Estimated Cost:

~$2,000-$4,000/year for small to mid-sized nonprofits.
Contact donorscope.com for custom pricing.

Pros:

  • Philanthropy-focused: Strong on giving history and nonprofit connections.
  • Affordable: More cost-effective than iWave or DonorSearch for smaller organizations.
  • Custom searches: Target prospects by location, cause, or industry.
  • Data enrichment: Enhances existing donor lists with wealth and giving data.

Cons:

  • Limited business research: Less robust for corporate prospecting compared to iWave or LinkedIn Sales Navigator.
  • Smaller database: May not cover as many prospects as larger platforms.
  • Basic interface: Less polished user experience.
  • Business Research Relevance: Limited for business research; primarily focused on individual donors and foundations. Use in combination with business-specific tools like LinkedIn Sales Navigator.

Best For: Small to mid-sized nonprofits prioritizing individual donor research on a budget.


3. Clay
Purpose: Data automation and enrichment platform for building detailed prospect profiles, including business contacts.

Estimated Cost:

Starts at ~$149/month (nonprofit discounts may apply).
Higher tiers: $349-$799/month for advanced automation.
Check clay.com for nonprofit pricing or free trials.

Pros:

  • Versatile data sourcing: Pulls contact details, social media profiles, and business data from LinkedIn, public records, and more.
  • Automation: Streamlines prospect list building with workflows (e.g., finding emails for business owners).
  • Business research: Excellent for identifying local business leaders or corporate CSR contacts.
  • Scalable: Flexible pricing suits organizations of all sizes.

Cons:

  • Not nonprofit-specific: Requires customization for fundraising.
  • Costly for advanced features: Higher tiers may be unaffordable for small nonprofits.
  • Data compliance: Ensure GDPR/CCPA compliance when scraping business contacts.
  • Business Research Relevance: Clay excels at finding contact information for business owners, executives, and CSR managers, making it ideal for targeting local businesses or corporate sponsors.

Best For: Tech-savvy nonprofits needing automated contact discovery for business and individual prospects.


4. Foundation Directory Online (by Candid)
Purpose: Grant research platform for identifying foundations and grant opportunities.

Estimated Cost:

Essential plan: ~$49.99/month or $599/year.
Professional plan: ~$199.99/month or $2,399/year.
Nonprofit discounts available; visit fconline.foundationcenter.org.

Pros:

  • Comprehensive grant database: Profiles thousands of foundations, including corporate foundations.
  • User-friendly: Keyword and geographic filters simplify grant searches.
  • RFP updates: Regular alerts on new grant opportunities.
  • Educational resources: Includes grant-writing guides and sector trends.
  • Affordable: Essential plan is budget-friendly for small nonprofits.

Cons:

  • Grant-focused: Not suitable for individual or business donor prospecting.
  • Manual effort: Requires time to analyze and prioritize opportunities.
  • Limited CRM integration: May not sync seamlessly with donor management systems.
  • Business Research Relevance: Useful for researching corporate foundations (e.g., Walmart Foundation) but not for direct business contact prospecting. Combine with LinkedIn or Clay for corporate outreach.

Best For: Nonprofits seeking foundation grants, especially smaller organizations.


5. GrantStation
Purpose: Grant prospecting platform for corporate, family foundation, and community-led funding.

Estimated Cost:

~$699/year for full access.
Monthly options: ~$99/month.
Discounts for small nonprofits; visit grantstation.com.

Pros:

  • Affordable: Cost-effective for small nonprofits.
  • Community focus: Highlights local and regional funding, including corporate giving programs.
  • User-friendly: Easy to search by program type or region.
  • Training resources: Offers webinars and grant-writing guides.
  • Open shop focus: Targets foundations accepting unsolicited proposals.

Cons:

  • Grant-focused: Limited to foundation and corporate grant research.
  • Smaller database: Fewer foundations than Foundation Directory Online.
  • Manual research: Requires effort to vet opportunities.
  • Business Research Relevance: Strong for identifying corporate giving programs, especially local and regional businesses, but lacks tools for direct business contact research.

Best For: Small nonprofits seeking accessible grant opportunities from corporate and community foundations.


6. LinkedIn Sales Navigator
Purpose: Professional networking platform for identifying business contacts and corporate sponsors.

Estimated Cost:

Core plan: ~$99.99/month or $959.88/year.
Advanced plans: ~$159-$400/month.
Nonprofit discounts available; visit linkedin.com/sales-navigator.

Pros:

  • Business research powerhouse: Access to 1 billion+ professionals, including CSR managers and business owners.
  • Advanced filters: Target by industry, company size, location, or philanthropy interests.
  • InMail: Send direct messages to prospects without needing connections.
  • CRM integration: Syncs with Salesforce and other CRMs.
  • Real-time insights: Tracks company updates and leadership changes.

Cons:

  • Not nonprofit-specific: Requires tailoring for fundraising purposes.
  • Costly: Monthly fees can add up for small nonprofits.
  • Learning curve: Effective use requires training on advanced search features.
  • Business Research Relevance: Ideal for identifying and contacting business leaders, CSR managers, or local entrepreneurs who align with your mission. Use filters like “corporate social responsibility” or “nonprofit board member” to find prospects.

Best For: Nonprofits targeting corporate sponsors or high-net-worth business professionals.


7. DonorSearch
Purpose: Comprehensive prospect research and wealth screening with AI-driven analytics.

Estimated Cost:

~$5,000-$10,000/year for small to mid-sized nonprofits.
Contact donorsearch.net for custom pricing or demo.

Pros:

  • Extensive database: Over 1 billion data points on wealth, philanthropy, and business affiliations.
  • AI analytics: Predictive modeling identifies high-potential donors and suggests ask amounts.
  • High accuracy: Claims 90%+ accuracy in wealth and giving data.
    Integrations: Syncs with 40+ CRMs like Salesforce and Bloomerang.
  • Business research: Identifies corporate donors through giving history and affiliations.

Cons:

  • High cost: Prohibitive for small nonprofits.
  • Complexity: Requires training for AI and analytics features.
  • Major donor focus: Less suited for grassroots campaigns.
  • Business Research Relevance: Strong for identifying corporate donors through their philanthropic history or board affiliations, but less effective for direct business contact research compared to LinkedIn Sales Navigator or Clay.

Best For: Larger nonprofits focused on major gifts and corporate partnerships.


8. WealthEngine
Purpose: Wealth screening and prospecting platform for major donor and corporate identification.

Estimated Cost:

~$3,000-$7,000/year for basic plans.
Custom pricing for enterprise features; visit wealthengine.com.

Pros:

  • Advanced analytics: Predictive modeling for donor capacity and propensity.
  • Broad data: Includes real estate, stock ownership, and corporate giving data.
    Scalable: Suitable for nonprofits of all sizes.
  • Free tools: Fundraising Report Card offers free analytics for small nonprofits.
  • Business research: Identifies corporate donors through CSR and foundation data.

Cons:

  • Costly for small nonprofits: Pricing may be a barrier.
  • General focus: Not exclusively nonprofit-oriented, so some features may be irrelevant.
  • Learning curve: Analytics tools require training.
  • Business Research Relevance: Strong for researching corporate giving programs and identifying business leaders with philanthropic interests, but less effective for direct contact sourcing.

Best For: Nonprofits with established fundraising programs seeking major donors and corporate partners.


9. Instrumentl
Purpose: Grant prospecting platform with AI-driven matching and grant management.

Estimated Cost:

~$49/month or $540/year for basic plans.
Higher tiers: $99-$299/month.
Free trial available; visit instrumentl.com.

Pros:

  • AI matching: Matches grants to your mission and programs.
  • Comprehensive database: Includes corporate and foundation grants.
  • Time-saving: Reduces prospecting time by up to 75%.
  • Grant management: Tracks deadlines and applications.
  • Affordable: Competitive pricing for small nonprofits.

Cons:

  • Grant-focused: Not suitable for individual or business contact prospecting.
  • Limited analytics: Less robust for wealth screening.
  • Subscription model: Ongoing costs may add up.
  • Business Research Relevance: Useful for researching corporate grants but not for direct business contact or CSR manager outreach. Combine with LinkedIn Sales Navigator for broader business prospecting.

Best For: Nonprofits prioritizing grant funding with limited research time.


10. Prospect Visual
Purpose: Data visualization tool for mapping donor relationships and wealth indicators.

Estimated Cost:

~$2,000-$5,000/year for small nonprofits.
Contact prospectvisual.com for pricing.

Pros:

  • Visual analytics: Maps donor and business connections for strategic outreach.
  • Relationship mapping: Identifies links between prospects and your organization.
  • User-friendly: Intuitive interface for complex networks.
  • Business research: Visualizes corporate affiliations and board memberships.

Cons:

  • Niche focus: Primarily for visualization, not comprehensive prospecting.
  • Limited data: Requires integration with other tools for full functionality.
  • Costly for niche tool: May not justify expense for small nonprofits.
  • Business Research Relevance: Excellent for mapping corporate relationships (e.g., identifying board members or business networks), but lacks direct contact sourcing capabilities.

Best For: Nonprofits with complex donor networks needing visual relationship mapping.


11. AlumniFinder
Purpose: Data enhancement and prospecting for alumni and donors, with wealth screening.

Estimated Cost:

~$1,500-$4,000/year for basic plans.
Free data quality reports; visit alumnifinder.com.

Pros:

  • Alumni-focused: Ideal for nonprofits with alumni networks (e.g., educational organizations).
  • Data enhancement: Updates contact details and appends wealth data.
  • Free reports: Offers initial data quality assessments.
  • Business research: Can identify alumni who are business owners or executives.

Cons:

  • Limited scope: Primarily for alumni and donor data.
  • Costly for non-educational nonprofits: Less versatile for general use.
  • Manual integration: May require effort to sync with CRMs.
  • Business Research Relevance: Useful for identifying business leaders within alumni networks, but not a primary tool for broader corporate prospecting.

Best For: Educational nonprofits or organizations targeting alumni donors.


12. Crunchbase
Purpose: Business intelligence platform for researching companies, investors, and executives.

Estimated Cost:

Starts at ~$29/month for basic plans.
Pro plans: ~$49-$99/month.
Enterprise pricing: Custom; visit crunchbase.com.

Pros:

  • Business research: Detailed profiles on companies, including funding, leadership, and CSR activities.
  • Investor data: Identifies philanthropists and corporate investors.
  • Affordable: Lower cost than specialized nonprofit tools.
  • Real-time updates: Tracks company news and leadership changes.
    Integrations: Syncs with CRMs and LinkedIn.

Cons:

  • Not nonprofit-specific: Requires customization for fundraising.
  • Limited philanthropy data: Less focus on giving history compared to iWave or DonorSearch.
  • Data depth: May lack detailed contact information for smaller businesses.
  • Business Research Relevance: Excellent for researching local and national businesses, identifying CSR programs, and finding executive contacts for sponsorship outreach.

Best For: Nonprofits targeting corporate sponsors or startup ecosystems.


13. Bloomerang
Purpose: Nonprofit CRM with prospect research and wealth screening features.

Estimated Cost:

Starts at ~$99/month for basic plans.
Higher tiers: $125-$500/month.
Visit bloomerang.co for transparent pricing.

Pros:

  • Integrated prospecting: Includes generosity scores and engagement metrics for donor prioritization.
  • Business research: Identifies business owners or executives in donor lists.
  • User-friendly: Intuitive interface for managing donor and business data.
  • Integrations: Syncs with DonorSearch and other tools.
  • High retention: Claims 64% donor retention for top users (vs. 42% industry average).

Cons:

  • Primarily a CRM: Prospecting features are secondary to donor management.
  • Costly for small nonprofits: Higher tiers add up.
  • Limited grant research: Not suited for foundation prospecting.
  • Business Research Relevance: Useful for identifying business leaders within your existing donor base, but less effective for external business prospecting.

Best For: Nonprofits needing a CRM with built-in prospecting for individuals and businesses.


14. GuideStar (by Candid)
Purpose: Nonprofit and foundation data platform for researching grantmakers and peer organizations.

Estimated Cost:

Basic access: Free.
Pro plans: ~$125/month or $1,500/year.
Visit guidestar.org for details.

Pros:

  • Free access: Basic nonprofit and foundation data available at no cost.
  • Grant research: Detailed profiles on foundations, including corporate ones.
  • Peer research: Analyze donor lists of similar nonprofits via 990 forms.
  • Transparent: Publicly accessible data on nonprofit financials and giving.
  • Business research: Identifies corporate foundations and their giving priorities.

Cons:

  • Limited for individual donors: Primarily focused on organizations.
  • Manual research: Requires time to extract and analyze data.
  • Pro plan cost: Advanced features may be expensive for small nonprofits.
  • Business Research Relevance: Strong for researching corporate foundations and their giving history, but not for direct business contact sourcing.

Best For: Nonprofits researching corporate foundations or peer organizations on a budget.


Choosing the Right Platform

To select the best platform(s) for your nonprofit:

  • Define Your Focus: Prioritize individual donors (iWave, DonorSearch), businesses (LinkedIn Sales Navigator, Crunchbase, Clay), or grants (Foundation Directory Online, Instrumentl, GrantStation).
  • Assess Budget: Small nonprofits may prefer affordable options like GrantStation, GuideStar, or Crunchbase, while larger organizations can invest in iWave or DonorSearch.
  • Evaluate Business Research Needs: For corporate sponsors, prioritize LinkedIn Sales Navigator, Crunchbase, or Clay for contact sourcing; use iWave or GuideStar for corporate foundation research.
  • Check Ease of Use: Clay and Bloomerang are intuitive, while DonorSearch and iWave require training.
    Test Integrations: Ensure compatibility with your CRM (e.g., Salesforce, Bloomerang).
  • Start with Trials: Request demos or free trials (e.g., Clay, Instrumentl, GuideStar) to test fit.

Action Step

  • Shortlist 3 platforms based on your needs (e.g., LinkedIn Sales Navigator for business contacts, iWave for donor and corporate research, Instrumentl for grants).
  • Contact providers for demos or quotes within the next week.
  • Test one platform (e.g., Crunchbase’s basic plan or GuideStar’s free access) to add 10-20 prospects to your list this month.

By combining these platforms, nonprofit founders can build a robust prospect list targeting individuals, businesses, and foundations, ensuring a strategic and sustainable fundraising approach.