Stages
i. Awards
Stage |
Default Probability |
Definition |
Qualification |
10% |
Prospect has been identified and is in the process of being researched, ranked and cleared. |
Cultivation |
20% |
Prospect has been cleared and initial discussions will be/have been initiated. Not yet known if an ask will be made. |
Ask Planned |
40% |
Internal decision has been made to solicit the prospect (e.g. to submit an LOI/proposal), but the solicitation has not yet been sent |
LOI Submitted |
40% |
LOI has been submitted, but has not yet been approved/declined. |
Proposal Submitted |
50% |
Proposal has been submitted, but has not yet been approved/declined |
Confirmed |
100% |
Written commitment received or grant agreement signed, including written confirmation of amount and payment schedule, but no installments have been paid yet. |
Closed Won |
100% |
Signifies that one or more installments are paid. |
LOI Declined |
0% |
The prospect declined the LOI. |
Proposal Declined |
0% |
The prospect declined the proposal. |
No Response Received |
0% |
Signifies that a formal response was never received to the LOI or the proposal, and therefore the ask was deemed unsuccessful. |
Not Submitted |
0% |
Signifies opportunities that were previously in the “Ask Planned” stage, but a decision has been made not to submit a solicitation. |
ii. Major Gifts
|
Stage |
Default Probability |
Definition |
|
Qualification |
10% |
Prospect has been identified and is in the process of being researched, ranked and cleared. |
|
Cultivation |
20% |
Prospect has been cleared and initial discussions will be/have been initiated. Not yet known if an ask will be made. |
|
Ask Planned |
40% |
Internal decision has been made to solicit the prospect, but the solicitation has not yet been sent |
|
Ask Out |
40% |
Prospect has been solicited in some form (proposal, solicitation letter, verbal ask) |
|
Confirmed |
90% |
Written commitment received or grant agreement signed, including written confirmation of amount and payment schedule, but no installments have been paid yet. |
|
Closed Won |
100% |
Signifies that one or more installments are paid. |
|
Closed Lost |
0% |
Signifies that we no longer have any expectation that the gift will be realized. |
iii. Fee for Service
|
Stage |
Default Probability |
Definition |
|
Qualification |
10% |
Prospect has been identified and is in the process of being researched, ranked and cleared. |
|
Consultation |
20% |
Prospect has been cleared and initial discussions will be/have been initiated to identify/understand the clients’ needs. Not yet known if a proposal will be submitted. |
|
Ask Planned |
40% |
Internal decision has been made to submit a proposal/quote. Proposal/quote is being prepared. |
|
Proposal Submitted |
40% |
Proposal/quote is or has been submitted to the client. |
|
Confirmed |
60% |
Contract signed, including written confirmation of amount and payment schedule, but no installments have been paid yet. |
|
Closed Won |
100% |
Signifies that one or more installments are paid. |
|
Closed Lost |
0% |
Signifies that we no longer have any expectation that this revenue will be realized. |