332: The Art and Science of Prospect Research with Katherine Scott and Sarah Marcotte

Behind every transformational charitable gift lies a trail of data waiting to become a meaningful human connection. Also, in a world where numbers often overpower stories, strategic prospect research serves as the quiet engine driving modern fundraising success.

Let's meet Katherine Scott and Sarah Marcotte, co-authors of From the Ground Up: Prospect Research for Nonprofits. Both bring nearly two decades of industry expertise, and their shared experience led them to write the foundational guide they wished they'd had when starting their careers.

Today's conversation explores how researchers act as backstage stage managers, translating wealth screening and raw metrics into actionable conversation starters. Katherine and Sarah tackle the tension between quantitative data and frontline fundraisers' lived experiences, cautioning against over-relying on static snapshots or biased AI tools. Ultimately, they champion a balanced approach that pairs data-driven strategy with genuine human relationships to maximize impact.

In this episode, you will be able to:

Understand the true role of prospect research

Discover how to pair quantitative wealth metrics with frontline fundraisers' qualitative, real-world observations.

Learn to use donor data to uncover personal connections, not just evaluate financial capacity.

Identify the limitations of wealth screening tools and AI, avoiding over-reliance on static snapshots or single metrics.

Understand how researchers and frontline fundraisers can bridge communication gaps and move past rigid "right vs. wrong" debates.

Learn why delivering targeted, high-quality insights is far more effective than cluttering reports with excessive data.

Get all the resources from today’s episode here.

Support for this show is brought to you by Bay Business Group. Our friends at Bay Business Group really understand nonprofit accounting and financial management on so many levels.

Focus on your mission while gaining complete clarity and confidence over your organization's finances. Partner with an employee-owned team built solely to support you, handling everything from bookkeeping and payroll to budgeting and fractional CFO guidance. Learn more at bay-biz.com/mallory.

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If you’re looking to raise more from the right funders, then you’ll want to check out my Power Partners Formula, a step-by-step approach to identifying the optimal partners for your organization. This free masterclass offers a great starting point.