So, you have heard of buyer's regret? It's the pit in your stomach that tells you that you probably made a purchasing error.
What about fundraiser's regret? That's when you walk away from a conversation after making an "Ask" (usually an important and timely request for a substantive amount of money in service to the strategic work of the organization). You realize you asked for WAY more money than this person was able or willing to give, and it is awkward and embarrassing. Or worse, you did not ask for enough money from the person you were talking to, which can also be awkward and embarrassing: it was too easy for he or she to make the gift---and now that individual might be questioning if your organization is not ambitious enough to reach its goals!
Enter Abacus, the Major Donor Ask Calculator. It is a web-based tool created by Larry Raff (read more about him later down the page) that dramatically improves the methodology and reliability of determining how much to ask a donor regarding a major gift. It provides fundraisers with a structured way to determine an "Ask" amount that is aspirational yet respectful to donors.
Abacus picks up where donor philanthropic capacity ratings and other donor research leave off. It uses objective data about the donor and their relationship to the nonprofit to arrive at an aspirational (yet respectful) three-year Pledge Ask amount that is bias-free---so you as a major gift officer can Ask with confidence and maximize pledges.
There is research behind Abacus! Larry has been a consultant for over 20 years and offered countless training sessions with fundraising/development/advancement officers. Larry learned that less than five orgs use a formal or even semi-formal process to determine an Ask amount! Simply put, most fundraisers rely on gut feel and instinct to determine an ask amount, and often they end up with a tummy ache.
So, fifteen years ago, as a nonprofit consultant and former advancement executive, Larry started doing deep research on Asks to find a solution to the "gut" problem. That deep dive revealed the profound influence of personal bias regarding money and institutional self-esteem. Larry gave more than 400 advancement officers two case studies with a small and large donor using the same 21 empirical and behavioral data points for each. The officers were instructed to arrive at an Ask amount for each scenario. Using identical information, the officers’ responses ranged widely, from $15,000 to $250,000 for the small donor and from $50,000 to $3 million for the large donor!
The Abacus algorithm started there. It has been used by Larry's firm (Copley Raff) for several years and has been refined into Abacus, which was launched in September 2023.
Using data from Abacus profiles and resulting pledges, the Abacus goal (what to reasonably expect from the ask) is within 2% of actual pledges. The low end of traditional philanthropic capacity estimates that are used with Abacus are 300% above actual pledges!
Any advancement officer or office that has a major donor program or is thinking about a campaign or are in a campaign can benefit from Abacus. As Larry states it, the cost of an annual subscription can be re-captured with one gift that would otherwise have been left on the table because of a timid or biased ask. Make a more informed Ask, and read Larry's bio below:
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