I conducted formal research over eight years with more than 400 advancement officers about determining significant gift ask amounts. They were presented with two donor case studies with 21 financial and behavioral variables. Remarkably, the suggested ask amounts from these officers ranged from $25,000 to $3,000,000!
Why it matters: We were all raised with different financial circumstances, and our regard for what is a significant gift is affected by our upbringing and current financial situation. Your organization’s institutional self-esteem will also drive a more or less aggressive ask strategy.
Work it: When determining how much to ask for a sizeable multi-year gift, do your digital and street research, and determine how involved the donor is with your organization. Then, select an initial amount and get reality checks from stakeholders and staff who know the donor. Amend the number, and you are ready to go.