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Welcome to

The Ins & Outs of a Career in Prospect Research

Rocky Mountain Chapter SLA Virtual Lunch November 21, 2013

Speakers: Maureen Festa Anna Shallenberger

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FOCUS Prospect (or development) researchers identify and provide relevant financial, philanthropic, and personal information about potential donors to academic and non-profit organizations.

How does one end up in this engaging and rewarding career path?

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The slides & recording of this program will be posted at http://rockymountain.sla.org

More to discuss? Use Twitter hashtag #rmsla Speakers #mefesta & #closetlibrarian

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About RMSLA
Site http://rockymountain.sla.org

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LIG http://www.linkedin.com/groups/SLA-Rocky-MountainChapter-RMSLA-3700687/about RB
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https://www.facebook.com/RockyMtnSLA
https://delicious.com/ConnieInfo/rmslabloggers Discussion List, et al http://bit.ly/yWybNb

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Agenda
Announcements / Housekeeping Speaker Intro Maureen Festa

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Researcher's path to a career in prospect research, moving from traditional & non-traditional library work into development work Skills & proficiencies librarians bring to the role Why prospect research is a vibrant & viable career choice for Info Pros. Variety of academic & professional backgrounds found among prospect researchers

Anna Shallenberger
Volunteering in prospect/fundraising research How it's like CI work & expands ones network/brand.

Q&A Closing
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Maureen Festa

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Maureen Festa is an information professional/librarian who is currently a senior research analyst in the Office of Development Services at MIT. Previously she was a senior development research analyst at Boston University. Her previous experience includes serving as a senior content analyst at Thomson Compumark, information center librarian at the Center for Organization, Leadership and Management Research at the Boston VA Healthcare Center, and senior knowledge analyst at KPMG LLC. She received her BA in history from Boston University in 1990 and her MLS from Simmons College Graduate School of Library and Information Science in 1994. In her current position, a background in subject specific sources, online search strategy, financial data analysis, investment information and public company filings are key to evaluating and understanding individuals wealth and giving capacity. A knowledge of international sources is a valuable asset as well. Outside of work, Maureen is a trustee of Eliot Hall, home of The Footlight Club, Americas oldest community theatre, and is actively involved in the organization. Most of her work in theatre has related to costuming and wardrobing; her work at the Footlight Club, as well as other local theatre companies, has received both peer and critical praise, and she is a recipient and multiple-nominee of the EMACT DASH award for her work. She has also worked with a number of local photographers, as a stylist, costumer and make up designer.

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Anna Shallenberger

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Anna Shallenbergers Best of the Business Web Twitter Closetlibrarian captures her elevator speech challenges. A utility player of sorts, her background includes traditional reference work / OSINT, Primary Research, HUMINT, Finance, Strategic Planning, KM, Six Sigma, Training, Communities of Practice & Digitization. Currently, she serves clients as a freelance consultant, but would like to return to an in-house role as she misses daily interactions with colleagues. Her previous experience was primarily in financial services & consulting, including running & rebuilding several libraries & CI/MI groups. She also taught several modules of Click Us CI Certification program. Anna earned her Bachelors in Economics as part of the first full class of women at Westminster College, spending two terms abroad. After some graduate work in International Affairs at Washington University, she went on to accomplish her MLS from Rutgers University with highest honors. Long active in professional associations such as AIIP, SCIP & SLA, where Anna recently received a Presidential Citations. She currently moderates the B&F LinkedIn Group, Chairs the CI webinars, & works for PHT as well. Twice featured as a Spotlight Speaker at the annual conference, she organized CIDs section of the New Orleans sessions. Outside of work, her activities are mostly in the arts, with a sprinkling of sciences, & a little sailing for fun. Anna served on junior boards for the Princess Grace Foundation & Alvin Ailey. She was also a founding member [and some cases officer] for junior committees at the American Museum of Natural History, NY Philharmonic, American Ballet Theatre, NY City Ballet, Metropolitan Museum of Art, NY Historical Society & active with others as well. She also served as President of NY Panhellenic, held office with several Junior Leagues, & chaired individual events with other organizations in NY, CT & MO.

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"I'm a librarian*sorta."
*I'm really a prospect researcher.

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Two job descriptionsmany similar skills and roles

Prospect Researcher Job Description Research Librarian Job Description

identify, collect, organize, analyze, and disseminate information

To on stakeholders, stakeholder groups and issues of strategic importance to the School in order to enhance the ability of development officers, senior faculty, and administrators to successfully acquire support for the activities of the school, as well as to contribute to the school's intellectual capital on key business markets and issues.

research librarians review, analyze, evaluate and organize information

Many for private companies, consulting firms, nonprofit organizations and government agencies. Some are hired to set up company information on the Internet, while others work in schools, colleges, public libraries and professional institutions such as medical and law libraries. Research librarians

Develop, implement, and manage systems and procedures

develop collections of library material

use of library facilities.

and instruct library patrons on the

to meet the information needs of alumni and

development staff and other members of the School, such as the Dean, the Associate Deans and faculty, in preparation for contacting, cultivating, and soliciting major gift prospects (individuals, corporations, and other organizations, such as foundations).

Source: http://supportingadvancement.com; http://www.ehow.com/about_6795556_research-librarian-job-description.html

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Basic skills for prospect researchers

Understanding of what constitutes relevant and strategic information and how to analyze that information to support prospect development Understanding of information management in a database structure, particularly the ability to store, manipulate, and retrieve data Understanding of the difference between proactive research (taking the initiative in identifying and qualifying prospects) and reactive research (responding to directives or requests for research) Knowledge of parameters (legal and institutional) regarding what information is public and ethical to use Knowledge of primary resource providers (electronic vs. text, government and commercial, internal and external) and the type and scope available from each Proficiency in identifying and utilizing additional resources such as librarians, government employees, colleagues, and constituents (including donors and volunteers) when appropriate Proficiency in utilizing all resources available, including an awareness of different search techniques and mastery of Boolean searching Proficiency in determining the quality, reliability, and accuracy of sources Proficiency in acquiring cost-effective, appropriate, and sound information
Source: APRA Skills Set: Prospect Research Fundamentals

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Who are prospect researchers?

Source: 2003 APRA Member Survey Results

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Who are prospect researchers, really?

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At MIT, the prospect research group is made up of librarians, lawyers, campaign researchers, journalists, literature scholars and foreign language specialists, among others.
An informal poll of other university prospect research departments finds 20-30% of researchers hold MLS degrees.
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Why Prospect Research?

Prospect research supports the efforts of fundraisers in nonprofit organizations, including:
schools, colleges and universities hospitals and charitable healthcare organizations civic organizations museums, and historic monuments environmental organizations theater and arts programs
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Where to find more information on Prospect Research

American Association for Advancement Professionals (AASP) http://www.advserv.org/ American Prospect Research Association (APRA) www.aprahome.org Council for Advancement and Support of Education (CASE) www.case.org Colorado Prospect Research Association (CPRA) www.apracolorado.com New England Development Research Association (NEDRA) www.nedra.org

(obligatory cat photo)

APRA's "Research Links" (excellent list of sources and resources)

http://www.aprahome.org/p/cm/ld/fid=99

Prospect-L (APRA's all things prospect research list serv)

http://www.aprahome.org/p/cm/ld/fid=99

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Why?

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Hide not your talents, they for use were made, What's a sundial in the shade? Benjamin Franklin

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WHEN Interests > Available Time / Schedule Flexibility RESULT= Stress

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HOW CAN ONE CONTRIBUTE?

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Donor / Prospect / Grant Research can mostly be accomplished on ones schedule....

As a volunteer, YOU decide the when & how long

Info Pros unique talents are ideally suited to optimize available information / insights... Bottom line impact enables those organizations to achieve their goals....
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ID-ing Your Opportunity

What Do You Care About?

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Cultural/Arts Interests? Where are you/yours an alum? Medical conditions you/yours suffer? Activities your kids/family involved in? Boss/senior managements favorite charity... Community help for your neighbors in need... And of course, your local public library...
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Information Not

elsewhere classified

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Customers

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Triangulation not just OSINT

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Triangulation = Heart of CI

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Research Process

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Professional Development

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Are there research techniques / sources you want to learn, but not yet called for in your day job? Or perhaps you would like to experiment first, then offer documented examples of your enhanced skills... Ditto re more detailed synthesis / analysis / presentation skills.... Would you like to learn about other types of research, be it for Additional freelance income, or to move to consulting? Changing jobs to work for a Non Profit , University, etc? Transitioning as you approach retirement?

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Networking & Brand Impact

Greater visibility to local leaders Opportunity to demonstrate skills to broader audience without openly job-hunting Illustrates team player mentality Exemplifies service orientation Shows ability for work/life balance

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READ!

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Ultimately....

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The person born with a talent they are meant to use will find their greatest happiness in using it. Johann Wolfgang von Goethe

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Speaker Contacts

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Maureen Festa Maureen Festa mefesta@mit.edu

Work: 617.324.8491 Fax: 617.258.8690 www.linkedin.com/pub/maureen-festa/3/706/626

Anna Shallenberger anna@targetedknowledge.com

Cell: 203.258.2383 Fax: 917.591.6732 Skype: anna.fay.shallenberger www.linkedin.com/in/annafayshallenberger Twitter: ClosetLibrarian Slideshare: http://www.slideshare.net/ClosetLibrarian Quora: http://www.quora.com/Anna-Fay?srid=3RK5&share=1 Foursquare: https://foursquare.com/user/15848474

Twitter: mefesta

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Anna Shallenberger

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The Ins & Outs of a Career in Prospect Research

Appendix/Case
Rocky Mountain Chapter SLA Virtual Lunch November 21, 2013

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Career Path - Donor/Prospect Research

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Volunteer Path - Donor/Prospect Research

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Research Need

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Research Need

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Research Need

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Other Material Available: Event Attendee Survey including demographics & psychographics Prior year stats financial & other Objectives: Expand/Filter existing prospects Customize pitches prioritized targets Improve marketing collateral

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Research Deliverable
Company / Organization Concept Segment MAKING CONTACT / RATIONALE

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Most Relevant [sales/marketing perspective]

STATEMENT Why visibility/involvement event has business value

Most Likely [personal connections]

List of people, embedded hyperlinks to LI Profile or other bio info

Other Charity-Connected [boards, friends, vendors etc]

Based on LI, word of mouth, etc

Related Organizations / connections [other potential ins]

Touch points to connect with the target organization & its people

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Research Deliverable
BUSINESS CASE SPONSORSHIP New or rebranded product(s)/messaging etc New / upsold target audience/customer PR / re-imaging [larger organization]

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Include links to news stories, social media, etc Names / Contact directly involved Same for external partners vendors, community organizations..

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Research Deliverable
BUSINESS BACKGROUNDER [support business case] Brief Overview [non-financial] Finances [bulleted, details in appendix] Awards, Points of Pride, etc
Lead with accomplishments before raising weaknesses or issues below

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Business Initiatives / Business Challenges

General need to knows, but focus on those most relevant to event pitch

Competitor Notes
How event involvement rebrands, connects, or otherwise might aid organization in being more competitive, often different based on whether B2B or B2C

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Research Deliverable
BUSINESS BACKGROUNDER [support business case] continued... Relevant General Industry/Market Stats Relevant Metro Municipality Stats

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Relevant Event Attendee Stats [from exit surveys, etc]

Video Other Useful Links

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Research Deliverable
CHARITABLE / COMMUNITY COMPONENT [beyond backgrounder] Current Recent Corporate Activities
Overview aggregate community activity locally & service activity globally

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Executive Activities / Boards

What do they do both on an individual / aggregate level already? Both to understand what they care about, & if anyone we know, knows them...

In-Kind Potential
For example, donated materials / services Also possible employees volunteering for event

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Research Deliverable
Synergies w/foundation missions/goals [not elsewhere captured] Markets
Could be psychographic or demographic

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Business Initiatives
Drill in deeper to those relevant to foundation / event

Execs

Those most likely to have both the interest & the pull /connections/authority

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Research Deliverable
Metro / State / Regional Notes [in addition to contact section] Senior senior execs no longer here

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Alums -metro municipality schools or posted here for lengthy periods in past
Typically w/ongoing local ties, family/friends etc Also local execs not among primary contacts targeted

Locally generated press

Keep eye out for hot button issues involvement in our event could support or address

Targets local initiatives / stats / links etc

Betas / product tests or introductions

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Research Users

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Foundation Leadership & Board Development team, long term-not just event Event Team- in house & volunteer Other stakeholders including event exhibitors

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Information Sources...

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"PRSPCT-L"

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