Fundamentals in Planned Giving: How to build a successful program
INTRODUCTION “It takes a nobleman to plant a seed for a tree that will someday give shade to people he may never meet. ” -David E. Trueblood 2
Session Outline I. Developing Your Program II. Launching Your Program III. Measuring Program Success
When is the best time to start a Planned Giving program? • The best time to start is years ago, the next best time is today! • Go ahead and start! • ANYONE can make a Planned Gift.
Do Taxes Really Matter? Planned Giving may combine a donor’s two great loves: your organization and lower taxes.
Why donors make Planned Gifts • • They believe in the organization. They have had a firsthand experience. They know the gift will be used wisely. They feel like they know you.
Why donors make Planned Gifts? • It feels great to give! • They want to honor or memorialize a loved one. • They want to leave a legacy.
Planned Giving Myths • Donors are old and wealthy. • Donors wish to leave everything to their children. • Estate plans are solely driven by tax consideration. • Legacy giving is difficult. • Legacy gifts compete with annual gifts. • The real dollars are in current gifts.
How To Develop Your Program • Get “Buy In” from Board and Organizational Leadership. • Develop appropriate gift acceptance policies. • Build your pipeline. • Gather sample donor stories.
Questions To Consider • How will you measure your results? • How will planned giving work cooperatively with your development/advancement team? • What will unrestricted planned gifts fund? • Can you use your volunteer team?
What do Planned Gifts look like? • Simple Bequests • Life Insurance • Retirement Assets (Cross your t’s and dot your IRAs. ) • Endowments in memory or in honor of a loved one
How to Launch Your Program • Identify your prospects. • Develop marketing pieces. • Partner with a company for your planned giving website. • Introduce a Legacy Society. • Build relationships with professional advisers. • Engage employees and volunteers. • Consider a wills/bequest campaign.
Donor Case Study #1 ROBERT • 76 years old • Widower • Consistently writes a $100 check each month. • Donor for 12 consecutive years • Does not attend events. • Has not yet agreed to a personal meeting.
Keys to Success • • Start modestly. Set attainable goals. Use simple language. Understand it’s a two-part approach. Recognize that you don’t need to be an “expert”. Establish a deliberate plan to ask your donors. Tell stories. Partner with others in the organization to recognize good prospects.
Anyone Can Make A Planned Gift! Development and planned giving staff, as well as donors, often think that planned gifts are out of their area of expertise.
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