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Opportunities- which status settings do I use to track bequests prospects

Debbie Edinburg

I run the Bequests department of our NFP. If there were default NXT status settings in opportunities, they have been modified and there are only a few available. I need to have a better idea of which to use to properly track a bequest sales process (e.g. cultivation, solicitation..). I have lots and lots of people identified and then I start contacting them, but can't all sit in that 'I've made contact' status (which we define as solicitation)- it needs to be further segmented before they get to stewardship. Some solication are good prospects and some are ho-hum and not really going anywhere, but I don't want to park them just yet. I would really apprecaite some help here. And thank you.

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Comments

Christine Robertson

@Debbie Edinburg It's hard to answer this in part because every organization sets this up a bit differently. I think the best thing that you can do is to pull a list of the codes that you have for this field, identify how they have been used, decide what codes you need (you may need to add some, inactivate others, etc.) and write out specific definitions for what those codes mean (when they should be added, changed, etc.).

Joe Moretti

@Debbie Edinburg I second Christine, that is up to your organization to determine that info. For us it is ( I will also say, this is not the place to have a gazillion statuses in your moves managememnt, a few, simple and consise.)

There are FIVE steps or Phases for the moves management (which currently are listed in the Prospect Tab/General/Prospect Status in Database View or Prospect Management tile in RE NXT. Each prospect status has a time frame in days of how long someone can stay in each before they’re considered past due (number in parenthesis). The prospect status should be updated when necessary to keep current.

Phase 1- IDENTIFICATION/RESEARCH (30): Identify potential prospects, research & gather information

Phase 2- QUALIFICATION (21): Does the prospect quality to move to next step

Phase 3- CULTIVATION (180): Cultivate a relationship with prospect

Phase 4- SOLICITATION (90): Solicit a gift from prospect

Phase 5- STEWARDSHIP (365): Continue building a relationship with donor after the’ve given

Faith Murray

@Debbie Edinburg
@Joe Moretti's list is the industry standard, and also very close to what we use. However, I know that Planned Gifts can hang and hang, sometimes taking a few years to mature. So in your case, you can take a couple routes:

You may wish to review when someone transfers from cultivation to solicitation. In my mind, cultivation can take up to 2 years, depending on the donor, while solicitation is a solid ask – you've sent them the application paperwork, or solidly asked them to consider a bequest. Therefore, a reasonable period for solicitation would be about 6-12 months.
Or, if that just isn't “you”, you can split the Solicitation stage into 2 stages: “Solicitation” and “Pending”. We use “Pending” when we've made the ask and are awaiting a decision. You may even add a third stage, “Soft solicitation”, to precede the more formal “Solicitation” stage, depending on how you perform your tasks.

Either way, as others have said, keep it simple and streamlined. I wouldn't get hung up quite so much on the time limits as on the clarity of the stage developments. Especially in planned giving, things can take awhile.

Debbie Edinburg

Thank you Faith for putting the time and care into this answer. Very helpful

Debbie Edinburg

Thnak you Joe

Debbie Edinburg

Thank you so much@Christine Robertson.