Why is Due Diligence Important?
With all the different areas a prospect development shop can operate in, why due diligence? There are many reasons why including;
Protecting the reputation of your organization. Often times, fundraisers are so focused on raising money that they might not realize the risk involved with engaging certain prospects. It is the job of the prospect development professional to be aware of these situations and bring to light information that can help your organization avoid these areas entirely.
There is no better suited resource for this type of work than prospect development. Professionals in this area are already suited to this type of in depth, attention to detail research. Collecting this important information from a variety of sources then compiling it into a coherent product that can be used to make decision is our specialty.
It is becoming more important to the supporters of an organization that the institutions they support carry themselves in a way that they feel proud of. Overall prospect satisfaction relies on this type of diligence. And the important role prospect development plays in prospect satisfaction calls for the need of organizations to perform due diligence.
With a due diligence process, organizations can avoid the reputation risk that comes with accepting the biggest checks from donors who don’t represent their values. The importance of this work will only grow as donors become more and more aware of these types of issues.
