- June 24, 2019
- Posted by: The Partners
- Category: Philanthropy Counts
How much should you ask for? You can ask for too much. But, wait a moment— you can also ask for too little.
Your task is to ask for just the right amount. Here’s some formulas you can use. They won’t get you within inches, but they will get you within yards.
From someone, let’s say John, who has been an annual donor of $10,000— figure 10 to 25 times their annual gift, paid over a 3-year pledge period. (John can be asked for $100,000 to $250,000 over 3 years.)
Another is from Yale University— age times annual income times .01 = gift over 3 years. John is 60. Annual income is $500,000. Multiply. Then multiply times .01 = $300,000.
This means that on the high side, John can be asked for somewhere between $250,000 to $300,000.
Now you have a range. Good luck.
What formulas do you use? We would like to hear from you. Email us.