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Determining average bequest size?

Cathy Spencer

Hi, a team member would like to know the average size of bequests that we receive. Some are huge while others are modest. How would you go about answering their question? We have many more smaller bequests than the large ones, but if I average them it will be skewed.

Thank you in advance for your help!

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Comments

Christina Mohler

@Cathy Spencer You might consider dividing them by amount ranges, and then listing the number of bequests in each range. For example, $1M+, $500k-$999k, $100k-$499K, $50k-$99k, etc. You could pick amount ranges that work for your organization. This would give your team an idea of where the gifts fall. An average still may be helpful, but this could help give a better picture of how they skew in that average number.

Jacob GunderKline

@Cathy Spencer
Finding a Median amount, rather than a Mean, would also make sure the very few giant bequests don't skew the narrative!
If bequests are tracked as an appeal, you can view the appeal info in RE7 and find the Median already calculated there. Let me know if you would like more details on that