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AI Did Not Write This Article, but Hatch Can Make Nonprofit Engagement More Effective and Human
In the past decade, rapid digital advancement has pushed Jewish nonprofits into a frenzy of online giving. As a result, many organizations now find themselves overwhelmed with piles of data they may not even be aware of or know how to utilize effectively.
Enter Hatch.
Created by Moshe Hecht, former co-owner and CIO of charidy.com, Hatch introduces a new category of data science called “Altruistic Intelligence.”
The concept is simple: organizations provide Hatch with approximately 7 to 8 pieces of information about their donors, and in return, Hatch generates 70 to 80 pieces of publicly curated data, creating what they refer to as a “complete human profile”. Hatch then recommends the most effective, timely, and personalized methods of outreach.
What sets Hatch apart from other data services in the nonprofit sector is its focus on creating holistic profiles of every donor, going beyond typical wealth screening. This approach allows organizations to better identify individuals most likely to engage with them, utilizing predictive modeling to forecast greater opportunities for impact.
Essentially, Hatch enables nonprofits to “meet” their donors as if they had met them in person.
During his 8 years of innovation at charidy.com, Hecht discovered that most organizations spend 90% of their time engaging with just 10% of their donors. This means that the majority of people are virtually ignored or confined to mass email blasts, leading them to unsubscribe.
Hatch addresses this issue by unlocking the factors that motivate donors to take action. The result is thriving engagement across a larger donor base, measured by wealth, influence, lifestyle, and more.
The motivation behind starting Hatch was largely driven by the overwhelming number of donation requests propagated by online giving campaigns. Hecht explains, “Donation requests were coming from organizations that were often irrelevant to the recipients. By equipping nonprofits with well-researched information about each individual donor, they can tailor their requests, campaigns, and donation amounts in a sophisticated and personalized manner. We want Tzedakah to continue thriving, but we want the right people to ask for the right amount, from the right donors, at the right time. That’s what Hatch helps accomplish.”
Since its launch less than a year ago, over 100 nonprofit members of the beta cohort have already gained a better understanding of their donors’ passions and lifestyles. This knowledge allows them to connect donors to programs and events that truly resonate with their interests.
In addition to helping fundraisers make accurate predictions based on wealth capacity, Hatch also identifies individuals with high social capital, capable of promoting the brand within their personal networks.
“It’s no longer just about the wealthy,” says Sim Borodach, Hatch’s head of product. “We’re in a new era of giving, where philanthropy is driven by the collective power of the many, rather than the exclusive power of a few.”
Borodach points to the $40 billion given to online fundraising initiatives, highlighting the potential of harnessing the everyday person’s power, not just relying on a small pool of elite donors.
He adds, “With Hatch, we provide organizations the ability to capitalize on this potential. By accelerating digital giving, we can surpass the $500 billion raised in the U.S.”
Hatch is also rapidly introducing new features. Its latest feature is affectionately referred to as “Sir Hatch”, an AI-powered content creation assistant designed specifically for nonprofits. Sir Hatch utilizes the power of GPT-4 to leverage Hatch’s signature enriched profiles. Along with curated nonprofit fundraising and marketing data and prompts, it generates individualized communication for fundraising, marketing, and relationship-building purposes. It’s GPT for nonprofit organizations, that’s personalized, secure and safe to use.
Currently in its beta cohort, Hatch ensures the highest standards of security and privacy. It collects data from established, fully compliant sources and third-party wealth screening providers such as the IRS, SEC, and FEC. This ensures that data collection is not only a secure choice for nonprofits but an ethical one as well.
To see if you qualify for Hatch’s beta cohort visit www.hatch.ai
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