Getting Started with Windfall
What is Windfall?
Windfall is a wealth screening company that collects information about your most affluent individuals, identifying constituents with a household net worth of $1 million or more.
Once those individuals are identified, we will display the following data on those individuals in EverTrue: Household net worth, physical assets (such as a boat, plane, or multiple-properties), wealth indicators (such as a board membership), philanthropic interests, life events (i.e. recent mover), last noteworthy change date (the date of the last refresh where we found a meaningful difference in data), and wealth enrichment last update date (when your Windfall data was last updated). This information can be located on the enrichment tab of a constituent profile.
What are the benefits of Windfall?
Since Advancement offices rely on a number of outside data sources to identify potential donors with high capacity, identifying these individuals requires a detailed understanding of their personal interests, experiences, and wealth. Other processes for gathering this information require a large amount of working hours to produce a list of potential prospects, and then that information found is often out of date quickly. EverTrue has the ability to automate this process and provide a single point of truth for more accurate, and constantly fresh data, refreshed in the first week of each month.
What you’ll need to provide in terms of data
You will need to have your constituent data uploaded in the EverTrue Console. This can be uploaded by your Data Manager. Once uploaded, it will be reflected in the platform.
How to enable Windfall in the platform
Windfall is a premium EverTrue feature. The first step is to contact your Customer Success Manager to discuss enabling this feature, as there is a cost associated. Once you have secured Windfall for your account, your Customer Success Manager will turn this feature on in the EverTrue platform for you.
Business-related Questions to Ask Internally:
- How does this work in relation to other wealth tools? (how will you use this data uniquely in comparison to other tools?)
- Where does it complement tools you might already use?
- How is this different from other wealth screening tools we use?
- How do you want people on your team to use Windfall data?
- What is the timeline for implementing this feature?
Frequently Asked Questions on Windfall:
- Q: Why did Windfall not return data on a person I know to be wealthy?
- A: It might be because: the household’s net worth is less than $1 million, the household net worth is greater than $1 million but Windfall does not have enough confidence to provide an estimate and wants to avoid a “false positive”, or, we could not match the person based on information provided (incomplete data, etc). We can also take constituents' names (matched or not) to the Windfall team if necessary to ask for further explanation behind a net worth rating.
- Q: How does Windfall explain match rates?
- A: Windfall practices conservative matching logic in order to avoid providing you with false positives. We use contact information such as name, address, email, phone, spouse information, employer data, etc. to match to Windfall’s dataset.
- Q: Can Windfall provide net new: names or addresses for other individuals that could donate to our organization?
- A: Windfall relies on your first party data to match to our dataset. Windfall does not sell lists. That said, as long as a household is in your database, Windfall can attempt to match it.
- Q: How does Net Worth compare to Capacity Score?
- A: Capacity Score or Gift Capacity typically uses historical data on giving. This data can be inaccurate and misleading, and it is also believed that historical data isn't necessarily a good indicator of future giving. Net worth is a much better metric, with a more holistic view of an individual's capacity to give.
- Q: How can I get Windfall data out of EverTrue?
- A: If you are an “Owner” within the platform, you can export the raw data through Settings > Export Files. Otherwise, you can export the Windfall net worth data through the standard export workflow.
- Q: Are Windfall philanthropic interests available in filters?
- A: Windfall philanthropic interests are available in filters via the interest filter. The NTEE (National Taxonomy of Exempt Entities) descriptions are searchable via our filters. The same goes for political affiliations.
Learn more about Windfall from our CEO as well as the CEO of Windfall in this webinar!
Training & Help Resources:
- Wealth Enrichment Exclusion
- See how customers have used Windfall: NIU Flip the Funnel, The New School Prospect Discovery
- EverTrue + Windfall
- RAISE Podcast with Arup Banerjee of Windfall
- EverTrue University, course 301 episode 1, Windfall
- Request a training with your Customer Success Manager
- About Windfall
Ready to get started?
Reach out to your Customer Success Manager to get started with enabling this feature. Our EverTrue Support Team ( email@example.com) can answer any technical questions. Our Data Resources can also answer questions you have about getting started with implementation.