Fundraising Event Pricing, Prospects, and Projections
Predicting Income and Setting a Price for Annual Events
Annual events build community and raise critical unrestricted income. But how can an organization effectively predict revenue and plan for income? Here is what we have found.
The 80:20 Rule Rules – No matter what, 80% of the income comes from 20% of the top prospects. A chart that articulates how many gifts are required at each level to meet the 80:20 principle is critical.
Six Degrees of Separation – It is critical to identify at least three prospects for every gift needed at each level. Prospects must meet the Six Degrees of Separation rule, with either a history of giving at the desired level before, or a close personal relationship with one of the event honorees, chairs, or board members.
Here is a chart we use to determine the 80:20 mix and identify the prospects
Our spring 2017 gala clients all enjoyed outstanding events. All broke records and succeeded in promoting mission, building community, and acquiring donors. We share some highlights here:
Ryan Health Network celebrated a half-century of providing affordable healthcare to New Yorkers.
The event more than doubled the amount of money raised at the last gala.
Auctioneer CK Swett entertained the audience and his paddle raise/cash call equaled nearly 10% of the total event revenue.
The Fiver Children’s Foundation is a youth development organization that makes a 10-year commitment to children from under-served communities throughout New York City and central New York. Growth for Good was privileged to help Fiver move from a cocktail format to a full gala dinner.
The income goal was exceeded by $40,000 – grossing 50% more that the previous gala.
Fiver continued its tradition of a silent auction consisting of donated items that made for a fun and profitable evening. CK Swett rocked the room with the live auction and cash call.
Fiver Foundation alumni helped amp up the bidding and connected with donors.
