The Qualified Prospect Index is a mathematical rating and ranking system that produces the numbers to build a Master Prospect List.
The Master Prospect List (MPL) is a list of your most important prospects in descending order of importance. The Qualified Prospect Index (QPI) is a numerical ranking system that is used to build the MPL. There are five factors that must be taken into account in the QPI, the two most important being capacity and relationship. Capacity is simply the financial capacity of the prospect, while the relationship is the strength of the connection the prospect has with your cause or case. If they have these two factors, they are a prospect. The other categories are timing, gift history, and philanthropy.
A weighing system of 1-5 is assigned to each category and multiplied by a numerical factor to produce a scale of 1-100, with capacity and relationship being weighted heavier. Some examples:
- If a prospect has high capacity and a strong relationship, but are about to go bankrupt, then they would produce a low score in timing.
- If the prospect has already given a gift, then they would score highly in the gift history, but if it was an especially high value gift, then they might also score highly in capacity and relationship.
- If they don’t have a gift history, it means they probably haven’t even been asked. Account for their commitment to philanthropy, but they don’t give away any money, then they will produce a low score in philanthropy and you should not waste your time.
- Ranking prospects according to their numerical score creates the MPL, which is important because it identifies the best prospects – so you know what to ask them for. If you need a lead gift of $1M, you know who to approach.
- The biggest way to boost funding is to look at you top 10 prospects every day. As Earl Nightingale says, ‘You become what you think about!’
Related Documents: On Prospects