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managing change in the arts and not-for-profit sectors |
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research |
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Hidden Wealth Research Project April - October 2010
Call for Participants At a time of significant political and economic change and what would seem to be almost inevitable declines in statutory investment, AQ Research is launching the first of a series of studies to explore opportunities to build capacity in a number of key areas which could prove vital to sustaining the vibrancy of the UK cultural economy. This first study looks at the potential for arts organisations to engage more effectively with High Net Worth Individuals already known to them as ticket buyers or indeed members of Friends schemes. With all three major political parties advocating tax reform to incentivise higher levels of financial support from individuals to the arts, this project is timely and offers the potential to inform the development of policy post election. To deliver this project, AQ Research is working with Prospecting for Gold, one of the UK’s leading agencies working to screen organisational data, to understand the extent to which High Net Worth Individuals already lie within the heart of cultural organisations as audience members but who have yet to be effectively nurtured to secure potentially significant levels of financial support. For 20 years, Prospecting for Gold (PfG) has been researching the UK’s wealthy and affluent donors, creating the UK’s largest supporter screening databases of almost 900,000 people from a broad range of regularly updated wealth intelligence data sources. While PfG has work directly with a number of arts organisations to screen data in preparation for undertaking major gift appeals, this will be the first time that their screening services will have been utilised on such a scale to determine the level of un-capitalised donor potential across all art forms, scales and regions of the UK cultural community.
The Project The Project will run for six months from April 2010 and all art organisations with an audience database containing individual data subjects with address information are invited to take part. It is hoped however that Phase 1 - the data screening process will be completed no later than August to allow for sector-wide analysis to then take place and for reports to be published and briefings to be scheduled in the early Autumn. In addition to contributing to building up a nationwide picture of the capacity for the arts to engage on a significantly greater scale with wealthy individuals, each participating organisation will receive an individual two-page summary of how many potential High Net worth Individual Donors and legators they have on their in-house databases, broken down by age, wealth band, company directorships, house value and other variables. This report is provided free of charge by way of thanks for taking part. Each participant will receive advance copies of the report but we will not be identifying individual organisations so it will be completely anonymous. Both AQ and PfG are registered under the Data Protection Act to undertake this activity. All individual organisation data will be kept strictly confidential and not shared with any party other than PfG who undertake the screening process. Thereafter your screened data is destroyed. By joining the Hidden Wealth Research Project you will not only be supporting the development of capacity in the arts and helping to build a UK-wide picture on private sector donor potential, you will also have an opportunity to discover information about the individuals on your own database of contacts that can help to shape your own organisation’s plans on major donor fundraising, donor development, legacy marketing, trust fundraising, corporate giving, sponsorship and partnerships
What To Do Next If you are interested in taking part in this research project AQ Research can provide you with further information. Please call John Nicholls on 0203 062 8852 or email john@artsquarter.co.uk to receive a copy of our fact sheet. |
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