Fall is gala season, which means my clients and nonprofits everywhere are talking about how to price a ticket for a signature fundraising event. These discussions might include statements like:
“Our hard costs will be $160 per person. We’ve set our ticket price at $150 because we want it to be financially accessible to all donors as well as our program participants.”
“We don’t want to price it too high because we want our staff to be able to afford a ticket. They feel like they are being left out.”
“We want everyone to be able to celebrate our anniversary, and we also need this to be a huge fundraiser for us!!”
You might notice some red flags here, but you also might really understand where these statements are coming from. How do you set the price for an event that you need to generate significant revenue while also staying true to your values?
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