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  #11  
Old 09-05-2019, 02:40 PM
R Daneel Olivaw R Daneel Olivaw is offline
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https://bloomerang.co/retention

Pr{give this year | [gave last year] AND [gave prior to last year]} ~= 63%
Pr{give this year | [gave last year] AND NOT [gave prior to last year]} ~= 30%

So, yes, the specific mix of first-time and repeat donors and their retention affects the overall blended rate, but let's not get all actuarial on this. I'm trying to get a cohort that goes to 100%, and to demonstrate that it can be done.
Bro!! You are an actuary after all.
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  #12  
Old 09-05-2019, 03:05 PM
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Okay, there are several charities that my husband and I give to every year. I'll stick with those for now.

Actually, this saves me a lot of time, too. I toss most of the begging letters I get unread. When we feel like we want to donate in a new direction, we do some research, pick some group, and then stick to it.
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  #13  
Old 09-05-2019, 03:40 PM
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mrs yoyo and i are retiring in 2020. while we will continue to give, it will be at lower levels than during our working years. we don't have all that figured out yet so i'm not likely to commit for 3 years. i might change my mind on that - this experiment intrigues me
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  #14  
Old 09-06-2019, 12:01 PM
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Okay, there are several charities that my husband and I give to every year. I'll stick with those for now.

Actually, this saves me a lot of time, too. I toss most of the begging letters I get unread. When we feel like we want to donate in a new direction, we do some research, pick some group, and then stick to it.
This is exactly the feedback I felt like needs to be provided. Thank you.

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mrs yoyo and i are retiring in 2020. while we will continue to give, it will be at lower levels than during our working years. we don't have all that figured out yet so i'm not likely to commit for 3 years. i might change my mind on that - this experiment intrigues me
Fair enough. Thank you for your input.
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Go for it! You'll probably want to wear some latex gloves, some of this stuff can be a little nasty. After you get things all lined out, you're gonna want to smell the glove.
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  #15  
Old 09-06-2019, 12:52 PM
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This is interesting. I wonder if the $100 threshold is too high - if you run off too many people this could be net negative. I get Bro's point, it's valid, just typing out loud. And what if someone wanted to give $200/year, you won't email them next year because they didn't give exactly $100? Why not email anyone at >=$100? Sure, I could submit $100 twice, but now you're just making work for me.

That said, I've given the past couple of years, I think at the $50 level. If you've seen my posts in the personal finance section, you know I have strong savings goals. But I also have a goal to give more in 2019 than I did in 2018, so I'm in. Giving is important, and I have strong feelings on cancer, having lost my mom to acute leukemia in 2015, and working in cancer care full time.

Pedal hard, Bro.
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Butt-chugging seems like the best solution.
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  #16  
Old 09-06-2019, 12:55 PM
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Hey, just FYI, because I am amazing, I also clicked the box that says "Do you want us to charge your credit card to also cover the $3 processing fee." So, I don't know if my donation will actually show up as $100 or $103, but I assume you've thought of this.
I also did the $103. I'm not amazing tho.
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Butt-chugging seems like the best solution.
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  #17  
Old 09-06-2019, 01:32 PM
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the $3 processing fee is included as part of your charitable donation for tax purposes
I think the issue was whether the $103 broke the signalling aspect.
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  #18  
Old 09-06-2019, 01:32 PM
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hey Bro, does giving $103 so as to cover the cc processing charge kick one out of the experiment? you said to give $99 or $101 if you didn't want to be contacted next year.

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  #19  
Old 09-06-2019, 02:01 PM
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I like the general idea that Bro is going for: intentional charitable giving.

Not many people have a budget for charitable giving, whether or not it's designated.

Mrs. VA and I do. We're also actively working on eliminating all debt while allowing our kids to have a meaningful childhood. So we're tapped out for the next 15-18 months.

That is, our charitable giving budget is already designated to a few areas.
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  #20  
Old 09-06-2019, 05:25 PM
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Originally Posted by George Frankly View Post
This is interesting. I wonder if the $100 threshold is too high - if you run off too many people this could be net negative. I get Bro's point, it's valid, just typing out loud. And what if someone wanted to give $200/year, you won't email them next year because they didn't give exactly $100? Why not email anyone at >=$100? Sure, I could submit $100 twice, but now you're just making work for me.

That said, I've given the past couple of years, I think at the $50 level. If you've seen my posts in the personal finance section, you know I have strong savings goals. But I also have a goal to give more in 2019 than I did in 2018, so I'm in. Giving is important, and I have strong feelings on cancer, having lost my mom to acute leukemia in 2015, and working in cancer care full time.

Pedal hard, Bro.
Valid points. It’s an experiment, not a guarantee, so if the net this year is less because people felt priced out, so be it. The question is, does the multi-year guarantee at potentially smaller annual amount offset the potentially higher-value single year with high-lapse in subsequent year? And, even if it doesn’t, does the reduced fundraising cost more than offset the lifetime revenue differential of the donor cohorts? I suspect it does, that’s why we’re running the experiment.

And yes, I know, sample size is too small to give statistical validity.

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hey Bro, does giving $103 so as to cover the cc processing charge kick one out of the experiment? you said to give $99 or $101 if you didn't want to be contacted next year.

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Nope. My records show it as a $100 gift. Whether you choose to up the amount to cover the CC fee is not part of this trial.

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Originally Posted by Vorian Atreides View Post
I like the general idea that Bro is going for: intentional charitable giving.

Not many people have a budget for charitable giving, whether or not it's designated.

Mrs. VA and I do. We're also actively working on eliminating all debt while allowing our kids to have a meaningful childhood. So we're tapped out for the next 15-18 months.

That is, our charitable giving budget is already designated to a few areas.
Good on ya!
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Go for it! You'll probably want to wear some latex gloves, some of this stuff can be a little nasty. After you get things all lined out, you're gonna want to smell the glove.
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