Often, planned giving programs are started by one person, usually someone with planned giving experience. When that person leaves the organization, so does the program with no one else in the organization fully involved, the program stalls. It’s imperative that you have as many people as possible (board, volunteers, leadership, and the entire development office) involved in the process, participating as planned giving donors and helping you with your outreach, gift acceptance policies, stewardship, whatever makes sense for your situation. (more…)
If you are going to start or grow a planned giving program with intention, the first thing I highly suggest you do is join the legacy society yourself. After all, how can you expect others to join if you are not a member? Once you are a member, it changes the conversation from a request to an invitation. This approach makes it much less threatening. It’s not about knowing all there is to know about charitable lead trusts. It’s about being authentic; it’s about asking others to join you in taking a stand and making a deeper commitment for the greater good. It’s about showing others that there are ways to make larger gifts and still meet their personal needs and goals.
If you have a retirement plan at work, consider making your employer a partial beneficiary in that retirement plan for as little as five percent. You can easily take them out if they fire your butt. 😉 (more…)
Your donor’s first planned gift intention does not have to be the last. You would never think about asking a donor to make a major gift and never asking them to make another. But how many times do fundraisers do that with planned giving donors? They thank their donor for their intention, invite them to the annual luncheon, send them a birthday and holiday card. All good stuff, but there is very likely a percentage of your legacy society members who may be open to increasing their planned gift commitment. Research from Russell James has shown that many planned giving donors are likely to increase their outright giving as well provided they are staying connected to the mission and feeling good about their intention.
The best time for an individual to consider gift planning to create a future gift often comes as a result or in contemplation of a significant event or life transition.
For many of our donors, the start of a planned giving conversation can be as simple as thanking the donors for their loyal support, asking them why they are so loyal, and then asking them how they would feel about a conversation involving other ways to support your organization beyond writing a check.
One of my first planned giving conversations as a donor was with my friend Dave. Here are 5 key takeaways from that conversation. (more…)
In their book The Right Side of the Table, Scott and Todd Fithian suggest fundraisers draw a metaphorical line to differentiate between the types of conversations with donors and the overall approach to planned giving.
They encourage fundraisers to see philanthropy from two distinct levels: below the line (BTL) and above the line (ATL) BTL deals with the “how,” or the nuts and bolts of making a planned gift. This includes tax planning, financial planning tools, and the planned gift options. ATL covers why the donor cares, what they want to support, and when. From the donor’s dreams to creating a meaningful legacy to the values they want to pass on to their children, these are the rea- sons our prospects seek to donate. The key is always knowing where we are with a donor. This concept can completely change your view on how we should think and talk about planned giving. (more…)
