Due Diligence and Fundraising Processes
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Due diligence is an essential element of any fundraising plan. Due diligence validates the identity of a person or business as well as provides information regarding their past and connections, and allows investors to review your business before investing in you.
You can be successful by conducting thorough due diligence, whether you are a business looking for investment or a philanthropic organization. Due diligence can be performed from the beginning of the process to identify and eliminate poor partners.
For instance If a donor has been associated with a controversial cause or has taken a risk in the past, it could be a major issue. Being able to conduct due diligence on potential donors at an early stage allows you to find out prior to committing your valuable resources to a relationship which may not be compatible with your company’s values or mission.
A great due diligence procedure is quick, thorough, and well-organized. It should be able to take massive amounts of public data, such as news websites as well as social networks or even grey literature and produce digestible reports that can be easily shared across teams. It should also be able automatically search through millions of documents and present a clear, structured view of your organization that is easy to comprehend and share.