Invention:
This innovation focuses on a novel approach to identifying high-impact donors to higher education using advanced machine-learning techniques. It was developed and tested as a proof-of-concept at the University of Arizona. By leveraging predictive algorithms, this method enables the university to pinpoint potential philanthropists who are most likely to contribute significant financial support. Unlike traditional donor prospect research methods, this method allows for faster and more accurate identification of high-value donors, optimizing fundraising efforts and improving fundraising results. The algorithm was developed, tested, and found to reliably identify pools of high-value donor prospects with elevated likelihood to make major gifts.
This innovative tool is particularly valuable for development teams seeking to enhance their donor pipeline. By utilizing data-driven insights, the technology provides a more efficient and targeted approach to fundraising, ultimately leading to increased financial contributions and strengthened relationships with prospective donors.
Background:
Identifying high-value potential donors in fundraising for higher education can be challenging. Traditional methods often depend on prospect research personnel applying rules of thumb and conventional wisdom to data such as historical giving patterns and basic demographic data to identify donor prospects. This can be time-consuming to gather and analyze by prospect research personnel. This method leverages machine learning to analyze large datasets faster with greater precision to ultimately identify and predict potential high-impact major donors.
Applications:
- Higher education fundraising
- Nonprofit organizations
- Philanthropic strategy and donor analytics
- Development and alumni relations
Advantages:
- Improves identification of high-value donors
- Provides faster results compared to traditional methods
- Utilizes easily accessible demographic data for better insights
- The algorithm was tested and found to accurately identify high-value donors
