The Easiest Way To Find New Grants (Peer Prospecting)
Summary
TLDRInstrumental introduces a new 'Peer Prospecting' feature to streamline identifying nonprofit peer organizations and their funding histories. This tool eliminates the need for manual searching by offering a dynamic 'peer list' that tracks potential funders and compares organizations. Users can easily add peer nonprofits, access insights on their 990s, compare key metrics, and review funding histories. An advanced filter helps identify high-ROI funders based on past support for peer groups. Instrumental aims to simplify developmental due diligence, enabling organizations to focus on growth. Feedback is encouraged for future improvements.
Takeaways
- 😀 Introduction of new functionality called 'Peer Prospecting' by Instrumental.
- 🔍 Peer Prospecting helps identify and track peer nonprofit organizations, saving time on manual searches.
- 📊 New tools streamline the process of uncovering potential funders aligned with an organization’s mission and geography.
- 📑 Pro users now have access to a 'Peer List' feature, located at the bottom left of the screen under projects.
- ✨ This peer list is a living tracker, automatically updating with new funding data as it becomes available.
- ➕ Adding a peer organization is simple: click the purple plus button and input information like name, location, and EIN number.
- 📈 Advanced recipient insights include organization comparisons, showing how an organization stacks up against peers.
- 📅 A funding history table reveals year-to-year or total fundraising data of selected nonprofits.
- 💡 A new filter allows users to find funders that have supported peer organizations, helping identify high-ROI potential funders.
- 📢 Instrumental encourages feedback on these new features and invites users to share how the tools can be improved.
Q & A
What is the new functionality introduced by Instrumental?
-The new functionality introduced by Instrumental is called 'peer prospecting,' which helps users identify peer nonprofit organizations and analyze their funding histories to uncover potential funders.
What problem does peer prospecting aim to solve?
-Peer prospecting aims to solve the time-consuming issue of manually searching for and tracking peer nonprofits and their funding histories, which often involves combing through tax documents.
Where can users find the peer list in the Instrumental interface?
-Users can find the peer list at the bottom left of their screen, underneath their projects in the Instrumental interface.
What is the purpose of the peer list?
-The peer list serves as a living tracker for peer organizations, helping users keep tabs on potential funders and measure their organization's activities compared to others.
How do users add a new peer organization to their list?
-Users can add a new peer organization by clicking a purple plus button, entering information such as the organization's name, location, and EIN number, and then selecting the desired organization.
What kind of insights can users get from the added peer organizations?
-Users can view a detailed breakdown of a peer organization's 990 form, including key metrics that compare their organization's activities with the peer organization, as well as a funding history table.
What is the purpose of the organization comparison feature?
-The organization comparison feature allows users to quickly highlight how their organization stacks up against a peer organization by pulling key metrics from their 990 forms.
What information does the funding history table provide?
-The funding history table shows the story of the selected nonprofit’s fundraising year-to-year or in total, including details about the average award to the recipient and when they last received an award from a fund.
What does the new filter on funder matches allow users to do?
-The new filter on funder matches allows users to filter results to see which foundations have given to organizations in their peer group, helping identify potential high ROI funders.
How can users provide feedback on the new features?
-Users can provide feedback on the new features by commenting or sending a message to the Instrumental team.
Outlines
🚀 Exciting New Peer Prospecting Feature Unveiled
The speaker introduces a new functionality called 'peer prospecting' from Instrumental. This tool helps identify peer nonprofit organizations and examine their funding histories, which is a crucial part of development due diligence. Instead of manually combing through tax documents to find potential funders, users can now leverage this feature to simplify the process.
📊 Introducing the Peer List Tracker
A new 'peer list' feature is highlighted, available at the bottom left of the user's project screen. This list keeps track of peer organizations and allows users to monitor potential funders and compare their organization’s activities with others. The speaker mentions that this dynamic list is continuously updated as new funding data becomes available, removing the need for extensive manual searching.
➕ Adding Peers Made Simple
The process of adding a new peer organization to the list is explained. Users can click the purple button with a plus sign, enter basic details such as the organization's name, location, and EIN number, and then add them to their list. The speaker demonstrates this by adding a local organization and explains that selecting the organization provides a detailed breakdown of its Form 990 data.
🔍 Organization Comparison and Insights
The new advanced recipient insights feature is introduced, starting with organization comparison. This feature allows users to see key metrics from peer organizations' Form 990s, quickly highlighting how their own organization compares. The speaker scrolls through a funding history table, showing year-to-year fundraising trends and total amounts received, along with details of the average awards.
📊 Deep Dive into Funding Data
The speaker goes into more detail about how users can explore the funding history of selected nonprofits. The table allows users to see how the selected organization compares in terms of average awards received. Users can also expand each row to see more granular details about each award, helping them better understand the funding landscape.
🔎 Funder Match Filters for Targeted Research
A new filter has been added to the funder matches feature. This filter helps users identify which foundations have supported organizations in their peer group, enabling more targeted research for high-return-on-investment (ROI) funders. It provides evidence of foundations that support specific focus areas or geographies, helping users find relevant funding opportunities.
💬 Excitement for Future Feedback
The speaker concludes the video by expressing excitement about how users will implement these new features in their work. They encourage viewers to share feedback, either in the comments or via direct message, on how to further improve the tool in future releases. The speaker signs off with thanks and well wishes.
Mindmap
Keywords
💡Peer Prospecting
💡Funding Histories
💡Peer List
💡990 Forms
💡Organization Comparison
💡Funding History Table
💡Advanced Recipient Insights
💡Funder Matches
💡Award Breakdown
💡High ROI Funders
Highlights
Introduces new functionality called Peer Prospecting.
Peer Prospecting helps identify peer nonprofit organizations and dig into their funding histories.
This feature aids in uncovering potential funders aligned with an organization’s mission or geography.
Peer Prospecting eliminates hours of manual searching through tax documents for solid prospects.
Pro users can now access a peer list at the bottom left of their project screen.
The peer list serves as a living tracker for peer organizations.
Instrumental keeps the peer list updated as new funding data becomes available.
Users can easily add a new peer organization by clicking a purple button and filling in some basic details.
The peer list helps users measure their organization's activities against peer organizations.
New advanced recipient insights include the ability to compare organizations based on key 990 metrics.
The funding history table provides a year-to-year breakdown of a nonprofit’s fundraising activities.
Users can see how the average award to a recipient compares to the overall average award from a fund.
Details such as the last award received and the total number of awards are available in the funding history.
A new filter allows users to see which foundations have given to organizations in their peer group.
The new features enable users to identify high-ROI funders with evidence of supporting similar focus areas or geographies.
Transcripts
Howdy Folks wanted to hop on today to
show off some exciting new functionality
we've cooked up here at instrumental
called peer prospecting as many of yall
know identifying peer nonprofit
organizations and digging into their
funding histories is a staple of
Developmental due diligence it can be
truly Illuminating uncovering lots of
new potential funders that might align
with your organization's Mission or even
its
geography the only problem is that most
of the time it involves hours of manual
searching and tracking combing through
tax documents for the hope of finding
one solid
Prospect well we are happy to report
that we've actually built some tools
designed to make that a thing of the
past with this release as Pro users now
have access to a peer list it can be
found on the bottom left of your screen
over here at the bottom of your projects
so underneath the projects you can see
peers this list serves as a living
tracker for peer organizations helping
you keep tabs on potential funders as
well as helping you measure your
organization's activities next to theirs
no long will you need to Google peer
nonprofits at nauseum as instrumental
will keep this list updated as new
funding data becomes
available now in order to add a new pier
you simply click this purple button with
the plus put in some information there
about their name maybe where they're
located their e number and then select
the organization you're after I'm going
to select one local to my community
right here I'm going to click that
little plus button once that
organization has been added to your list
you can select their name which I'm
going to do right here and then we can
see a more detailed breakdown of their
990 on this right hand side okay we've
also added new Advanced recipient
insights with this release the first of
which is the organization comparison so
again right here at the very top this
pulls a few key metrics from their 990s
and quickly highlights how your
organization Stacks up we've added the
funding history table let me scroll down
a bit right here and this is able to
tell the story of the selected
nonprofits fundraising year-to-year or
in totality
this will also show you how the average
award to this recipient compares to the
overall average award from that fun so
we can see that information right here
in Gray it'll also detail when they last
received an award from this fun as well
as the total number of awards received
from that fun you can also expand each
row to see more detailed breakdowns of
the awards given you can see that right
there and finally we've actually
introduced a new
filter on our funder matches that allows
you to filter results um to see which
foundations have actually given um to uh
people in your peer group it allows you
to quickly identify and research those
potential High Roi funders who have real
evidence of supporting your focus area
or even again maybe focused in your
geography um so anyway we're excited to
see how y'all can put these new features
to work in your own day-to-day and look
forward to hearing how you think we can
improve them in the future so definitely
let us know in the comments or send us a
message so all right thanks for joining
us and we'll talk to you soon byebye
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