Fundraising ROI expresses net return per dollar invested — net raised divided by cost, often shown as a ratio. It frames a campaign’s payoff the way a board expects to see it.
The example
$60,000 raised, $12,000 cost.
| A | B | |
|---|---|---|
| 1 | Item | Value |
| 2 | Net raised | 48000 |
| 3 | ÷ Cost 12000 | → 400% |
The formula
The formula:
How it works
How it works:
- Net raised = gross dollars raised − fundraising cost.
- Divide by cost for ROI as a percentage — 400% means $4 net per $1 spent.
- A simpler return ratio is
dollars_raised / cost(here 5:1, gross). - Compare campaigns or channels to steer where the next fundraising dollar goes.
Gross ratio vs net ROI. “5:1” usually means gross dollars raised per dollar spent (60k/12k). “400% ROI” means net return ((60k−12k)/12k). Both are fine — just label which you’re quoting, because a 5:1 gross campaign and a 400% ROI campaign are the same campaign.
Try it: interactive demo
Dollars raised and cost.
Variations
Gross return ratio
Per dollar spent:
Net raised
After cost:
Cost per dollar
The inverse:
Pitfalls & errors
Net vs gross. Subtract cost for ROI%; skip it for a gross ratio — label which.
Full cost. Include staff and overhead, not just direct campaign spend.
Acquisition lag. New-donor ROI is low at first; judge over the donor’s lifetime.
Practice workbook
Frequently asked questions
How do I calculate fundraising ROI in Excel?
What's the difference between ROI and a return ratio?
Should new-donor acquisition show poor ROI?
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