Where does the data come from?
Having an accurate understanding of your prospect’s financial capacity before you create a cultivation plan improves the development experience for both the donor and your team.That’s why securing data that you can rely on is key to successful solicitations.
Experian data is tested, validated, cleansed and then combined using Experian’s proprietary modeling to create the most accurate and comprehensive repository of donor prospect marketing information available. This process sets DonorScope apart from other data suppliers who typically rely on secondary sources. Since data is acquired directly from the original source the end result is that nonprofit’s are provided the most accurate and complete picture available of a donor’s potential to invest your important cause.
IMPORTANT: Many wealth screening services cite all sorts of data sources that in actuality do not provide information that contributes to understanding an individual’s net worth. Quite often these sources may assist in researching the specifics of a prospect’s volunteerism or community leadership but in no way shape or form contribute to net worth determination.
Experian extrapolates net worth by determining the net difference in an individual’s or families’ assets minus their liabilities. The model measures:
– Liquid assets as well as fixed assets including the value of a primary residence, the cash value of insurance, collectibles, real estate, and other investments.
– Liabilities include mortgages, auto loans, student loans, home improvement loans, credit card balances, other personal loans, and balances on other lines of credit.
Experian’s net worth model is based on the following sources:
- Experian Credit Reports
- Security and Warranty Deeds
- Tax Assessor Files
- U.S. Census Data
- Mail Order Transactions
- Product Registrations
Net Worth is updated monthly and averages 200,000 modifications every thirty days with an approximate annual update of 2,500,000 records.