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AI for Prospect Research

Welcome to the AI for Prospect Research playbook! This guide helps you identify funders that actually fit your mission using AI to sift through RFPs, IRS 990s, and funder websites efficiently.

Overview​

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Goal: Identify funders that actually fit your mission and are worth pursuing.

  • 💡 Key Insight: AI is best at sifting and summarizing, not inventing funders. Use it to interrogate real documents like RFPs, IRS 990s, or funder websites.
  • 📊 Metric to Watch: % of researched opportunities that convert to actual proposals within 90 days.

Why AI for Prospect Research?​

Traditional grant research is time-consuming and often results in pursuing bad-fit opportunities. AI can:

  • Analyze eligibility requirements in seconds
  • Compare your mission to past grantees automatically
  • Flag red flags before you invest time in a full proposal
  • Surface alignment between your work and funder priorities

Over 70% of nonprofits waste time on grants they're not eligible for. AI prospect research cuts that waste dramatically.

🔍 Step 1: Gather Your Context
  1. Document Your Mission: Have a clear 2-3 sentence mission statement ready
  2. Define Your Population: Who you serve (age, location, demographics)
  3. Clarify Geography: Service area, city, county, state, or region
  4. List Past Successes: Previous grants won and amounts (builds credibility)
  5. Why This Matters: AI needs context to evaluate fit accurately—garbage in, garbage out
📄 Step 2: Upload Grant Documents to AI
  • 📤 Gather Documents: RFPs, grant announcements, funder 990s, or guidelines
  • 🤖 Choose Your Tool: ChatGPT (with file upload), Claude, or Gemini
  • 📋 Upload Files: Drag and drop PDFs or paste text directly
  • 🎯 Pro Tip: Upload multiple opportunities at once to compare them side-by-side
❓ Step 3: Ask Targeted Questions

Don't just ask "Is this a good fit?" Be specific:

  • Eligibility Check: "What would make us ineligible for this grant?"
  • Deadline Analysis: "What is the deadline and what materials are required?"
  • Priority Alignment: "What priorities are listed and how do they align with our mission?"
  • Past Grantees: "Based on past grantees, are we a strong fit?"
  • Budget Requirements: "What budget range or match requirements exist?"

Pro Tip: Ask follow-up questions to dig deeper into any concerns AI raises.

🔄 Step 4: Compare Mission to Past Grantees
  • 🔎 Research Past Awards: Find 990s or annual reports listing previous grantees
  • 🤖 Use AI to Compare: Upload your mission alongside past grantee descriptions
  • 📊 Evaluate Alignment: AI will highlight similarities and differences
  • ✅ Decision Point: If you're similar to 3+ past grantees, you're likely a strong fit
📈 Step 5: Track and Refine
  • 📋 Create a Tracker: Use Google Sheets or Notion to log researched opportunities
  • 🎯 Track Conversion Rate: How many researched grants become actual proposals?
  • 🔄 Refine Your Prompts: Improve questions based on what works
  • 🌱 Continuous Improvement: Aim for 1-2% improvement in fit accuracy each month

AI Prompts​

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Use this comprehensive AI prompt in ChatGPT, Claude, or Gemini for prospect research:

Context:
You are helping a nonprofit development director evaluate grant opportunities for fit and eligibility. The goal is to save time by quickly identifying whether a grant opportunity is worth pursuing based on mission alignment, eligibility requirements, geographic restrictions, and past grantee profiles.

Role:
You are an experienced grant researcher with 15+ years of experience in nonprofit fundraising. You know how to read between the lines of RFPs, identify red flags, and assess competitive positioning. You provide clear, actionable recommendations.

Action:
Using the information provided below, analyze this grant opportunity and provide a detailed fit assessment.

Ask the user to provide:

- Organization name: [e.g., Youth Empowerment Network]
- Mission statement (2-3 sentences): [e.g., We provide mentorship and career training to underserved youth ages 14-24 in urban communities]
- Population served: [e.g., Low-income youth, ages 14-24]
- Geographic service area: [e.g., Chicago, IL and surrounding Cook County]
- Annual budget: [e.g., $500K]
- Past grant successes (optional): [e.g., Previously funded by XYZ Foundation for $25K]
- Grant document or RFP: [Upload PDF or paste text]

Based on this input, provide:

1. **Eligibility Assessment** – Are we eligible? List any requirements we meet or don't meet.

2. **Mission Alignment Score** (1-10) – How well does our mission align with funder priorities?

3. **Geographic Fit** – Does our service area match their funding region?

4. **Budget Fit** – Does our request size match their typical grant range?

5. **Past Grantee Analysis** – If available, compare our profile to past grantees. Are we similar?

6. **Red Flags** – Any concerns or disqualifying factors?

7. **Competitive Positioning** – What makes us strong or weak compared to likely competitors?

8. **Recommendation** – Clear GO/NO-GO decision with reasoning

9. **Next Steps** – If GO, what should we prioritize in our proposal?

10. **Questions to Ask Funder** – 2-3 strategic questions to ask before applying

Format your response in clear sections with bullet points. Be direct and honest about fit.

Quick Eligibility Check Prompt​

"Here is our mission and service area: [paste mission]. Based on this grant announcement [upload or paste], identify:
1. All eligibility requirements
2. Any geographic restrictions
3. Budget range and match requirements
4. Application deadline and required materials
5. Whether we are eligible (YES/NO with reasoning)"

Past Grantee Comparison Prompt​

"Compare our organization profile [paste mission, population, geography] to these past grantees [paste list from 990 or website]. Provide:
1. Similarity score (1-10)
2. Key similarities
3. Key differences
4. Likelihood we'd be competitive (High/Medium/Low)
5. What we'd need to emphasize to stand out"

Quick Start Checklist​

  • Document your mission, population, and geography clearly
  • Gather 3-5 grant opportunities to research
  • Upload documents to ChatGPT/Claude/Gemini
  • Use the comprehensive AI prompt for each opportunity
  • Create a tracking spreadsheet for results
  • Calculate your conversion rate after 30 days
  • Refine your prompts based on what works

Success Metrics​

Track your AI prospect research effectiveness:

  • Conversion Rate: % of researched grants that become actual proposals (target: 40%+)
  • Time Savings: Hours saved per week on grant research (target: 5+ hours)
  • Fit Accuracy: % of submitted proposals that result in funding or finalist status (target: 20%+)
  • Red Flags Caught: Number of bad-fit grants avoided before investing time
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Next Steps: Once you've mastered prospect research, move on to AI-Assisted Drafting to speed up your proposal writing process.