Guidelines (GEM-ASV) for developing analytical seismic vulnerability functions are offered for use within the framework of the Global Earthquake Model (GEM). Emphasis is on low/mid-rise buildings and cases where the analyst has the skills and time to perform non-linear analyses. The target is for a structural engineer with a Master’s level training and the ability to create simplified non-linear structural models to be able to determine the vulnerability functions pertaining to structural response, damage, or loss for any single structure, or for a class of buildings defined by the GEM Taxonomy level 1 attributes. At the same time, sufficient flexibility is incorporated to allow full exploitation of cutting-edge methods by knowledgeable users. The basis for this effort consists of the key components of the state-of-art PEER/ATC-58 methodology for loss assessment, incorporating simplifications for reduced effort and extensions to accommodate a class of buildings rather than a single structure, and multiple damage states rather than collapse only considerations.