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The Walters Art Museum— Leveraging Wealthengine to Build Community & Donors

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The Walters Art Museum— Leveraging Wealthengine to Build Community & Donors TM Client Success Story The Walters Art Museum— Leveraging WealthEngine To Build Community & Donors “I use WealthEngine almost every day,” says Julia Keller, Manager of Individual and Corporate Giving Circles at The Walters Art Museum in Baltimore, MD. A few tools within WealthEngine’s product that Keller finds most valuable are the LexisNexis Real Estate data, the Circle of Friends and the Propensity to Give (P2G) ratings. “WealthEngine is the first place I go when museum leadership asks for information on a prospect,” explains Keller. “I’m able to get a brief summary of that individual easily and quickly.” Keller regularly uses WealthEngine data to prepare short biographical paragraphs on prospects, so board members and fundraising volunteers can know more about the prospects. Other times, Keller will use WealthEngine data for comprehensive research on a prospect: where he or she lives, Walters’ Monthly Receptions Increase Contributions net worth, and how that net worth was acquired. by $30,000 and add 20-30 New Donors. The mission of the Walters Art Museum is ‘to bring art and people together for enjoyment, discovery, and learning.’ We strive to create a place where people of every background can be touched by art. Monthly receptions are one way the museum works to achieve this mission—and to attract new donors and more contributions. On average, 30-40 donors attend each reception, with some drawing 100 guests. When Keller first came to Walters, the museum held these receptions for current members at the time of their renewals. While the museum continues to invite current members to the reception, they now use these events as a cultivation tool for new donors. Keller says, “The receptions are designed to showcase particular parts of the permanent collection as well as special exhibitions the museum hosts throughout the year. Because of the exhibition variety and our efforts with WealthEngine, we can encourage a larger, more strategic universe of prospects to come out for a night of art and donor cultivation.” Keller tailors each guest list to the specific reception theme. In 2000, the museum had surveyed its membership, asking each member to identify personal favorites in the collection. Keller uses this information to identify current members to invite to a particular reception. Then, using WealthEngine, she works to identify prospects to be invited, based on interests and giving capacity. For example, for the current exhibition focusing on an early American artist, Rembrandt Peale: Portrait of John Meer, Keller used WealthEngine’s FindWealth Online to research donors of nearby organizations with American art interests. She looked at each prospect’s giving capacity as well as their P2G score. If the prospect seems to be a good match with the museum, Keller will also use WealthEngine to obtain the prospect’s mailing address, so the individual may be invited to a particular reception. Keller used this same technique when a former Cardinal was speaking at the Walters. She pulled names from the local Catholic organizations and hospital donor lists, and then researched them in WealthEngine. WealthEngine • 4339 Montgomery Avenue • Bethesda, MD 20814 800.933.4446 • Fax: 301.215.5987 • www.wealthengine.com TM Client Success Story The Walters Art Museum— Leveraging WealthEngine To Build Community & Donors “Any new donors we’ve attracted from these events in the past four years have been vetted by WealthEngine,” says Keller. Her work and research, as well as WealthEngine’s data, is paying off for the Walters. Results over the past year include: • The Walters has realized $30,000 in new or increased donations from those who attended the receptions. • 20-30 new donors were acquired. • The December 2008 reception realized more than $2,000 in sales at the museum store. • Many individuals renew their memberships after receiving a reception invitation, even though they do not attend the event. Other Everyday Uses of WealthEngine LexisNexis Real Estate data is a powerful and versatile resource for Keller. The Walters has a current database of about 60,000 names. Keller uses LexisNexis to update current donor addresses. She also uses it to find the addresses of new prospects. “The P2G score is an important analytics tool for me,” notes Keller. “I use it to identify the prospects we should target first.” Another initiative of the Museum is to upgrade members of the Annual Giving Circles—moving their annual donations from $150 to $250. Again, WealthEngine’s ratings and scores allow the Walters’ staff the ability to prioritize the most likely prospects for the upgrade. “When working with the board and fundraising volunteers on peer screening, I first go to FindWealth Online to develop the skeleton of a prospect. The Circle of Friends helps us to identify relationships we may not know about,” says Keller. The Economy’s Impact How has the Walters Art Museum been responding to the economic climate? Keller responds, “We’ve tailored our message. In December, we sent a ‘state of the museum’ letter. We are stressing that we are still vibrant, and there’s lots to do here. We are free, and we will remain a free museum. In fact, more than 22,000 schoolchildren were able to visit our museum free of charge last year.” “The Walters Museum is a community museum,” closes Keller. “Sometimes, the economic climate prompts people to give more. In down times I’ve found that donors want to continue supporting the things that they feel passionate about—like our museum—because they want to ensure its longevity. Many are giving at higher levels to help us weather this recession.” Together, WealthEngine and Keller are helping Walters reach more prospects and donors each day so they can continue to bring art and learning to the Maryland community. WealthEngine • 4339 Montgomery Avenue • Bethesda, MD 20814 800.933.4446 • Fax: 301.215.5987 • www.wealthengine.com.
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