A wealth capacity formula is used to determine a constituent’s estimated wealth range, major giving capacity range, and major giving capacity value. The system provides a default formula for calculating these ranges, but you may also choose to create additional formulas.
For example, you can choose to create a new wealth capacity formula for geographies with expensive real estate. In cities like New York City, Washington, DC, and Los Angeles, the real estate prices in the metropolitan area are much higher than other cities in the United States and can inflate wealth values. Some organizations choose to discount real estate to gain a better perspective on capacity to give.
From the Wealth Capacity Formula Management page, you can add a new wealth capacity formula, edit an existing formula and choose which formula to use as the system default. You can also assign a formula to a record, group of records, or a research list.
To access the Wealth Capacity Formula Management page, from the Prospects page, under Configuration, click Capacity formula management.
Set as Default
You can select any formula defined in the system to use as the default for new constituent records. While you can change the default at any time, only one formula can be used as the default.
You can also choose to make a formula the default when adding new formulas or editing existing formulas.
Delete a Formula
You can delete wealth capacity formulas from the Wealth Capacity Management page. However, you can delete only those formulas to which you have access, and the default formula cannot be deleted. Formulas currently assigned to prospect records also cannot be deleted.