RAISE Podcast: Why “net worth” became a bad word with Arup Banerjee, Windfall

We recently announced our partnership with Windfall to bring wealth data and capacity indicators to TrueView profiles. Brent sat down with Windfall CEO, Arup Banerjee, to learn more about Arup’s career and why he founded Windfall.

Arup is a lifelong entrepreneur and data guy. He launched his entrepreneurial career at the age of 14 by developing websites to capture customer data. He even landed some big customers like the Ecuadorian embassy. After working in investment banking for years, he realized there was a data problem. According to Deloitte, most consumer data is only 50% accurate, costing digital marketers over millions of dollars annually (Source: Deloitte).

Through working with non-profits, Arup realized there a was a big opportunity to change the way the industry approached wealth data. For years, net worth was considered a bad word. Instead, fundraisers focused on gift capacity, household incomes, or home values. However, this is problematic when you consider a donor’s overall wealth profile. A $100k household income in Montana looks incredibly different than a $100k in Manhattan over time. By focusing instead on net worth, Arup knew he could provide actionable data to help non-profits identify and engage affluent prospects and donors.

P.S. In January we’ll talk to Ryan Bagley, AVP of University Development and Alumni Relations at the New School used EverTrue and Windfall to find 30,000 new high-net-worth prospects — 1,300 of whom are already engaged donors?