Stewardship: Because Wills Can Be Undone

Stewardship Because Wills Can Be Undone

Last month I went deep into Bequest Promotion Channels.

This month, Stewardship. The donor who has included your charity in their will can change their mind and undo their gift at any time. Why does that matter?

It matters because you need to steward your bequest donors well, so they don’t change their minds.

You don’t have to break the bank or trip over yourself to be good them, but you do have to keep them in mind, look for opportunities to make them feel close to you and treat them like a member of the family.

The last stat I saw on this was a few years ago. At the time, four percent of people who made a charitable bequest changed their mind later. The odds are clearly in your favor, but you want to make sure your donors don’t slip into that small minority. So practice good stewardship.

Here are a few ideas:
Send Cards. Have a supply of birthday and anniversary cards, and send them. For a twist on the typical, send anniversary cards based on donors’ relationships with your charity: the date they told you about their bequest for you; the date they made their first gift; the date they joined the board; or the date they paid off a pledge. Be creative. You’ll surprise the hell out of them!

Send Handwritten Notes. These are so rare that they’re an extra special surprise. No need to fill an 8.5 x 11 inch sheet of paper. Use note cards or writing stationery. Sincerity and thoughtfulness don’t have to be long-winded.

Reserve VIP Seating. At your next event, carve out a bunch of seats and call them VIP. Set them aside for your bequest donors, or all your planned gift donors. It costs nothing because you already paid for the seats. You’re just making them special.

Host a Reception. At that same event, add a reception. This will add to your event budget, but not terribly. You’ve already got the venue booked and catered, now add a 45-minute VIP reception at the beginning or end.

Go on a Trip. Seniors love cultural or historical places, or quirky places they wouldn’t go on their own. It’s OK to charge a fee for transportation, admission and a meal if you can’t afford to pick up the tab, but maybe you can subsidize the cost if you can’t pay the full price.

I used to take planned gift donors to The Culinary Institute of America in Hyde Park, NY. Our group loved to tour the classroom kitchens, and then we had a delicious lunch at a student-staffed restaurant. We paid for the bus and charged our donors the balance.

Your stewardship need not be expensive. Thoughtful and gracious will go a long way to preventing bequest donors from undoing their gifts to you.

=-=-=-=-=-=-=-=-=-=-=-=-=-=
Tony Martignetti, Esq. is the host of Tony Martignetti Nonprofit Radio.
He’s a Planned Giving consultant, speaker, author, blogger and stand-up comic.
You’ll find him at TonyMartignetti.com.
=-=-=-=-=-=-=-=-=-=-=-=-=-=
Have you seen
The Fundraising Series of ebooks ??

They’re easy to read, to the point, and cheap ($1.99 – $4.99) ☺
=-=-=-=-=-=-=-=-=-=-=-=-=-=

If you’re reading this on-line and you would like to comment/expand on the above, or would just like to offer your thoughts on the subject of this posting, we encourage you to “Leave a Reply” at the bottom of this page, click on the feedback link at the top of the page, or send an email to the author of this posting. If you’ve received this posting as an email, click on the email link (above) to communicate with the author.

More Promotion Channels: Bequests VI

Last month I focused on IRA gifts, now I’m back to bequests, picking up from August with strategies other than direct mail to promote bequest giving. (See Tony’s previous posts on Planned Giving.)

If you haven’t got the budget for direct mail, these are for you!

If you’re using direct mail, augment it with these methods. Think multichannel engagement. It’s essential in today’s interconnected world.

Look at your meetings and events
In face-to-face sit-downs and at larger events, it takes just a few sentences to ask prospects to think of your organization when they prepare their long-term plans. This message isn’t appropriate for every event, so look for the times when you’ve gathered people who love your work and you’re already asking for their support. They can support you in the long-term by including you in their wills.

Look at your publications
Newsletters, magazines, annual reports, anything where a fundraising message is appropriate. You don’t need a full article; a sidebar will do. Include your legal name and federal tax ID number (Employer Identification Number, or EIN), so readers can take action. A lawyer will need those to prepare a bequest properly. If you have an attorney on your board, or otherwise close to the organization, prevail upon him or her to write a sample bequest paragraph to include. It won’t take more than five minutes to write one for you.

Use your Website
I wouldn’t make this your first priority, but it doesn’t hurt to have a presence because enough seniors are internet savvy, and the rate of penetration increases each year. Also, your prospects’ attorneys might go to your site looking for the necessary details. Provide information similar to what I’ve suggested for your publications. You won’t need more than a page or two.

Small ways, too.
Can you slip a couple of check-offs into your annual appeal reply card? What about a check-off saying “send me information on including you in my will” on the back flap of your return envelopes? Wherever you’ve got a few extra lines on something your donors are returning to you anyway, give them the chance to ask for information or tell you they’ve already included you in their wills. Don’t put the “have included” option anywhere it’s visible to outsiders.

Get out there and promote! You’ve got something newsworthy: you’ve inaugurated a Planned Giving program.

Next month, wills can be undone – changed at any time. What does this mean for stewardship?

=-=-=-=-=-=-=-=-=-=-=-=-=-=
Tony Martignetti, Esq. is the host of Tony Martignetti Nonprofit Radio.
He’s a Planned Giving consultant, speaker, author, blogger and stand-up comic.
You’ll find him at TonyMartignetti.com.
=-=-=-=-=-=-=-=-=-=-=-=-=-=
Have you seen
The Fundraising Series of ebooks ??

They’re easy to read, to the point, and cheap ($1.99 – $3.99) ☺
=-=-=-=-=-=-=-=-=-=-=-=-=-=

If you’re reading this on-line and you would like to comment/expand on the above, or would just like to offer your thoughts on the subject of this posting, we encourage you to “Leave a Reply” at the bottom of this page, click on the feedback link at the top of the page, or send an email to the author of this posting. If you’ve received this posting as an email, click on the email link (above) to communicate with the author.

IRA Gifts For Your 4th Quarter

I’m taking a hiatus from bequests to help you get IRA gifts for your year-end appeal.

Passed on January 1, 2013, the American Taxpayer Relief Act of 2012 renewed charitable giving from individual retirement accounts (IRAs) for those 70-and-a-half or older.

This gift opportunity ends on December 31 so the remaining months of the year are your last chance to promote it. Use the December deadline to create a sense of urgency among prospects and donors.

Here are the requirements for a qualified charitable distribution:*

  1. Your donor is at least 70 1/2 years old on the date of gift and yours is a 501(c)(3) charity (supporting organizations are not included; nor are donor advised funds)
  2. The IRA is a traditional or Roth
  3. Maximum $100,000 per donor per year
  4. The distribution is direct from IRA to charity
  5. The full value of the gift would be eligible for an income tax charitable deduction if it were not a qualified charitable distribution
  6. The amount distributed would be included in gross income if it were not a qualified charitable distribution

Promotion
Numbers 1-4 are straightforward and what I recommend using in promotional materials. Also drop in these two points if you have space:

First, the amount of the gift counts toward an IRA required minimum distribution, or RMD. Lots of people (though not as many as in 2007 and years before) are required to take more from IRAs than they need. This provision helps them reduce that dilemma.

Second, the amount of the distribution to charity is not included in federal gross income, so it’s exempt from federal income tax.

Important Fine Print
Numbers 5 and 6 have nuances that are more appropriate to an article than a blog. They are the primary reasons your materials include a disclaimer that you’re not providing tax or legal advice and donors must consult their own advisors. The first four are secondary reasons for your disclaimer, because there are ins-and-outs in those, too.

Here’s an important point on #5. It precludes using this to buy a ticket to your dinner or an auction item; buy anything from your charity; or fund a charitable gift annuity or charitable trust. None of these are 100% deductible for federal income tax purposes. Raffle tickets are precluded because no part of the amount paid is a charitable contribution for federal income tax purposes. (They may be deductible losses if the person has gambling winnings, but we’re not going there.)

Get The Word Out
You can promote qualified charitable distributions through your newsletter, direct mail or email. Talk to your board, too. These are an ideal way for donors of the right age to make their year-end gift.

Next month I return to bequests with promotion channels beyond direct mail.

* This is an IRA distribution, not a rollover. A rollover is a transfer from one retirement account to another retirement account.

=-=-=-=-=-=-=-=-=-=-=-=-=-=
Tony Martignetti, Esq. is the host of Tony Martignetti Nonprofit Radio.
He’s a Planned Giving consultant, speaker, author, blogger and stand-up comic.
You’ll find him at TonyMartignetti.com.
=-=-=-=-=-=-=-=-=-=-=-=-=-=
Have you seen
The Fundraising Series of ebooks ??

They’re easy to read, to the point, and cheap ($1.99 – $3.99) ☺
=-=-=-=-=-=-=-=-=-=-=-=-=-=

If you’re reading this on-line and you would like to comment/expand on the above, or would just like to offer your thoughts on the subject of this posting, we encourage you to “Leave a Reply” at the bottom of this page, click on the feedback link at the top of the page, or send an email to the author of this posting. If you’ve received this posting as an email, click on the email link (above) to communicate with the author.

The Foundation of Your Planned Giving Program: Bequests V

Closeup shot of last will and testament

In July, I explained why bequests are the most popular planned gift. See the Planned Giving Series.

This month I’m going into detail on why most bequest donors decide not to tell you that your charity is in their will. I’ve seen estimates that between two-out-of-three and seven-out-of-eight donors will keep their charitable bequests to themselves.

What is this majority thinking?

Don’t ask me for more. Happy to have included you in their will, your donor doesn’t want you to ask them for more. That’s a reasonable concern. Fundraisers are trained to evaluate giving history to decide whom to cultivate and solicit for future gifts.

It’s too personal. Their will is private, even from those included in it. Not that I talk about wills at every party I go to, but it sometimes comes up. At one cocktail reception, I met a woman who had seven friends in her will and would not tell any of them. She wanted to keep up the surprises and she didn’t want her friendships impinged by her generosity.

I can’t change my mind. We can change our wills at anytime. The donor who refuses to share your part in their will may feel they lose the option to change their mind if they tell you about it. They don’t, but they feel they do. Revealing their intention imposes a moral obligation to follow through, they believe. Talk about donor loyalty!

I don’t want recognition. This donor doesn’t want you to list them in your recognition society or annual report. They don’t want you to ask them to sign a testimonial letter or email. (These are great marketing channels, by the way.)

Understanding your donor’s reasons for not revealing their gift, target your messages to overcome these concerns…

When asking people to share their bequest intentions, assure them that:
•  they can opt out of communications from you, about giving or otherwise;
•  knowing about their gift helps you make plans;
•  they can change their mind anytime; and,
•  anonymity is possible and privacy will be respected

There will always be folks who will not share their plans with you. The best you can do is use your messaging to make it less likely.

I want to devote next month to IRA giving. There’s an opportunity that ends on December 31 and I want to help you prepare your 4th quarter messaging. Then I’ll come back to bequests in October. They’re important, and there’s a lot more to say.

=-=-=-=-=-=-=-=-=-=-=-=-=-=
Tony Martignetti, Esq. is the host of Tony Martignetti Nonprofit Radio. He’s a Planned Giving consultant, speaker, author, blogger and stand-up comic. You’ll find him at TonyMartignetti.com.
=-=-=-=-=-=-=-=-=-=-=-=-=-=
Have you seen
The Fundraising Series of ebooks ??

They’re easy to read, to the point, and cheap 🙂
=-=-=-=-=-=-=-=-=-=-=-=-=-=

If you’re reading this on-line and you would like to comment/expand on the above, or would just like to offer your thoughts on the subject of this posting, we encourage you to “Leave a Reply” at the bottom of this page, click on the feedback link at the top of the page, or send an email to the author of this posting. If you’ve received this posting as an email, click on the email link (above) to communicate with the author.

The Foundation of Your Planned Giving Program: Bequests IV

Lego blocks

In June I shared ideas on what to do with your direct mail letter. See the Planned Giving Series.

This month we’re taking a hiatus from promotion to look at why bequests are basic to your Planned Giving program.

You should expect 75 to 80 percent of your planned gifts to be bequests. They are the foundation of any Planned Giving program, irrespective of mission. Because of time and money constraints, you may start and stop your program with bequests and you will have a very respectable—and appropriately scaled—program.

There is no shame in a small shop limiting its PG program to the promotion and marketing of charitable bequests. That organization can do quite well, with 100% of its planned gifts as bequests.

Why Are Bequests So Popular?

Because wills are popular. Every adult should have one, though the reports I see say about half don’t. That still leaves half the adult population as charitable bequest prospects.

Easy. People understand how wills work. Your prospects don’t need fancy calculations or detailed projections, though they do need an attorney’s help to write their wills.

Quiet. Donors don’t have to tell you they’ve put you in their will. You hope they do, and you give them opportunities to share their secret, but they can make you wait until after they’re gone. And most bequest donors do.

Undoable. You can change your will anytime you like. If you get angry at a relative, you can cut them out. If a donor gets angry at your office, they can cut you out. Donors find this reassuring.

Easy on the wallet. Bequests cost nothing during life. Gifts are paid out of your donors’ estates after they die. That makes them . . .

So perfect for donors of modest means. For lots of people, their will remains the only way they can make their ultimate gift to your work. They’d like to give you more during life, but they’re doing what they can.

Time is on their side. I don’t know if there’s research to back this up, but it feels like bequest donors have longevity working in their favor. They live longer than the non-charitably inclined. Is there a secret among the Boomers that I haven’t been let in on?

For all these reasons bequests will make up the vast majority of any Planned Giving program. (Extra points if you recognize that I spelled out BEQUEST with the first letter of each heading.)

In August, I’ll go deeper into the “quiet” above. Why is it that a mere one-in-three to one-in-eight bequest donors reveals their intention while they’re living?

=-=-=-=-=-=-=-=-=-=-=-=-=-=
Tony Martignetti, Esq. is the host of Tony Martignetti Nonprofit Radio. He’s a Planned Giving consultant, speaker, author, blogger and stand-up comic. You’ll find him at TonyMartignetti.com.
=-=-=-=-=-=-=-=-=-=-=-=-=-=
Have you seen
The Fundraising Series of ebooks ??

They’re easy to read, to the point, and cheap 🙂
=-=-=-=-=-=-=-=-=-=-=-=-=-=

If you’re reading this on-line and you would like to comment/expand on the above, or would just like to offer your thoughts on the subject of this posting, we encourage you to “Leave a Reply” at the bottom of this page, click on the feedback link at the top of the page, or send an email to the author of this posting. If you’ve received this posting as an email, click on the email link (above) to communicate with the author.

More Direct Mail: Bequests III

White envelope on a brown desk

In May I helped you write your direct mail bequest letter.

This month, tips on what to do with your letter.

If your budget won’t allow direct mail, don’t worry. There are plenty of other bequest promotion channels and I’ll get to them.

These ideas will improve your direct mail bequest letter:

Personalize. Use full inside address and a formal salutation (Dear Miss/Mrs./Ms./Mr.). Please don’t use “Dear friend” or “Greetings!” The subject is too personal.

Don’t Invoice. Use a closed outer envelope, not a window carrier. The subject is personal, private, and serious, so your letter shouldn’t look like an invoice.

Reply. Include a reply card with options for people to tell you they’d like more information or would consider including you in their will, and—most important—that that they already have included you.

Secure. Your reply card gets returned in an envelope. Don’t design it as a self-mailer. The return information is sensitive. I don’t even like self-mailers that fold over to conceal responses because they don’t feel as secure as an envelope.

Stamp It. Apply a live stamp, at the first class presort rate (to save money over first class). I don’t like bulk mail or metering for your personalized, sincere letter.

Direct mail gurus may disagree with what I recommend. They may even have research supporting different advice, but the research I’ve seen is never based on long-term, informational mailings. This is what I do for clients, and it works.

Your objective isn’t strictly to hit a target rate of reply. Largely, mailings like this are educational and informative. Although you need to include the reply device, you’ve hit a home run if someone saves your letter for retrieval when meeting an attorney years from now to prepare or revise their will. This is long-term fundraising.

In July we’ll digress from promotion and I’ll explain why bequests are the foundation of your Planned Giving program and why we’ve started promotion there.

=-=-=-=-=-=-=-=-=-=-=-=-=-=
Tony Martignetti, Esq. is the host of Tony Martignetti Nonprofit Radio. He’s a Planned Giving consultant, speaker, author, blogger and stand-up comic. You’ll find him at TonyMartignetti.com.
=-=-=-=-=-=-=-=-=-=-=-=-=-=
Have you seen
The Fundraising Series of ebooks ??

=-=-=-=-=-=-=-=-=-=-=-=-=-=

If you’re reading this on-line and you would like to comment/expand on the above, or would just like to offer your thoughts on the subject of this posting, we encourage you to “Leave a Reply” at the bottom of this page, click on the feedback link at the top of the page, or send an email to the author of this posting. If you’ve received this posting as an email, click on the email link (above) to communicate with the author.

Write The Letter: Bequests II

Last month I introduced promotion of planned gifts with bequests.

This month, I’m helping you write your direct mail letter. If you can’t afford direct mail, don’t worry. There are lots of other channels to promote charitable bequests and I’ll get to those.

If you don’t plan a letter campaign, my tips will help you understand the audience so you’ll gain confidence in your other promotion channels—including face-to-face meetings.

If you will use direct mail, here you go:

§ Write the letter from your heart. Be warm, factual, sincere, and straightforward. Share how a bequest in a will can help support your important work long into the future, because today’s bequest may not mean cash to you for many years. This is long-term fundraising.
§ Acknowledge that family always comes first in one’s long-term planning.
§ Include an invitation to “consider including ABC Charity in your will or other long-term plan.”I like to see this ask in its own paragraph.
§ Don’t be ashamed or ask humbly. Ask with confidence and sincerity.
§ Devote your letter exclusively to promoting a gift by will. No other subjects to distract from your heart-whole purpose.
§ Your prospects are in their 60s, 70s, 80s, and 90s. Bear that in mind as you write.
§ Limit your letter to one page. Take the advice I’ve given and write concisely.

Testimonial letters carry great power.

So if you have donors who have already included you in their wills, ask if they’ll tell the story of why they did it and how it makes them feel to have your nonprofit alongside the bequests for their spouses, children, and grandchildren.

You’ll find it easier to interview them, write the letter for them and let them edit it.

Your donors who love you will accept a simple, authentic and heartfelt explanation of how their wills can help you. Remember from last month, you’re writing to your most consistent and loyal donors.

Take note of the adjectives I’ve used. They’ll guide you as you write: warm; factual; sincere; straightforward; confident; simple; authentic; and heartfelt.

Come back in June for advice on what to do with your letter in “More Direct Mail: Bequests III.”

=-=-=-=-=-=-=-=-=-=-=-=-=-=

Tony Martignetti, Esq. is the host of Tony Martignetti Nonprofit Radio. He’s a Planned Giving consultant, speaker, author, blogger and stand-up comic. You’ll find him at tonymartignetti.com.

=-=-=-=-=-=-=-=-=-=-=-=-=-=

Have you seen The Fundraising Series of ebooks ??

=-=-=-=-=-=-=-=-=-=-=-=-=-=

If you’re reading this on-line and you would like to comment/expand on the above, or would just like to offer your thoughts on the subject of this posting, we encourage you to “Leave a Reply” at the bottom of this page, click on the feedback link at the top of the page, or send an email to the author of this posting. If you’ve received this posting as an email, click on the email link (above) to communicate with the author.

 

Start Promoting Planned Giving: Bequests I

This posting by: Tony Martignetti.

Last month I gave you two things you need in place to make Planned Giving feasible.

Now we’re ready to start promoting your inaugural Planned Giving program. Who are the prospects?

Your best prospects are:
 55 and over
 loyal, consistent donors, irrespective of dollar amount
 board members, irrespective of age and giving consistency

Lots of charities don’t have age in their database. If you’re among them, do that donor survey you’ve been thinking about and ask for birthdate (preferred) or age. If you’re planning a wealth or other data screening, include an age overlay.

Maybe your constituency is familiar to you and good prospects are popping into your mind. Give it more thought, canvass your staff, and you’ll come up with still more planned gift prospects.

If none of those apply to you, then rely only on giving history (and your board). If someone has been a donor for 15 or 20 years, there’s a good chance they’re in their late forties or fifties, putting you in the ballpark.

If your charity hasn’t been around that long and you don’t have age data, then you’ve got no choice but to consider each of your consistent donors a prospect. Are you sure you can’t get out a survey?

Inaugurate your program with bequests—charitable gifts by will. For several reasons:
 they’re easy to understand
 everyone should have a will by the time they’re 55
 donors like knowing they can change their minds
 donors like knowing they don’t have to tell you about their gift
 there’s no lifetime cost

Those features make bequests the foundation of any Planned Giving program. Expect three-quarters or more of your planned gifts to come from bequests.

The most effective way to promote gifts by will is personalized direct mail. It’s also the most expensive, so if your budget can’t support that, stick with me. There are plenty of other channels, which I’ll cover in coming posts.
Direct mailers should use all the outreach ideas I recommend, not just mail.
If you can afford to mail to your prospects, write an appropriately worded letter. This is the toughest part, I know. It’s also something I routinely do for my clients, so I have lots of experience to share with you next month.
=-=-=-=-=-=-=-=-=-=-=-=-=-=
In May, “Write The Letter & Other Promotion Channels: Bequests II.”
=-=-=-=-=-=-=-=-=-=-=-=-=-=
Tony Martignetti, Esq. is the host of Tony Martignetti Nonprofit Radio. He’s a Planned Giving consultant, speaker, author, blogger and stand-up comic. You’ll find him at TonyMartignetti.com.
=-=-=-=-=-=-=-=-=-=-=-=-=-=
Have you seen The Fundraising Series of ebooks ??
=-=-=-=-=-=-=-=-=-=-=-=-=-=
If you’re reading this on-line and you would like to comment/expand on the above, or would just like to offer your thoughts on the subject of this posting, we encourage you to “Leave a Reply” at the bottom of this page, click on the feedback link at the top of the page, or send an email to the author of this posting. If you’ve received this posting as an email, click on the email link (above) to communicate with the author.

What You Need To Get Planned Giving Started

Hand coming up with a planned giving plan

This posting by: Tony Martignetti.

Last month I gave you five reasons why you should have a Planned Giving program.

Your organization doesn’t need much to get started, but you do need a few things in place. Here’s what I look for to decide whether Planned Giving is feasible at a nonprofit.

7 years under your belt. I used to say a nonprofit should have a steady 10 years working in its mission, but I’ve relaxed that to seven. You need that because you’ll be asking prospects and donors to include you in their estate plans, which will mean cash to you at their deaths (for the overwhelming majority of planned gifts).

Donors need confidence that your work will survive them. If you’ve been at it for less than seven years, your longevity is questionable. Everyone hopes your good work will live on forever, but there won’t be great confidence if you’ve been working it less than seven years.

Individual donors 55 and over. That’s the age I start promoting Planned Giving. It’s the age at which large numbers of people begin recognizing their will or other estate plan as a method of charitable giving. Before then, it’s much more about guardianship for children and security for college educations and the mortgage, as well as gifts to family.

To be sure, thirty- and forty-somethings include charities in their wills. But not in large numbers. Not in numbers large enough to justify spending your scarce time and money promoting the idea to them. It’s an unwise use of resources.

I also want you to avoid risking the much greater likelihood that those younger than 55 will change their minds and remove you from their wills.

In our twenties, thirties and forties do we know the charities that are close enough to us that we’ll maintain them all our lives next to our spouse, children and grandchildren in our will? With as many as 60 or 70 years to live–no we don’t.

The sole exception to this is board members. As the most invested volunteers, each of them should include you in their will. Some will remove you after their term, but while they’re serving you should be in their estate plan.

The Stelter Company has research that disagrees with me, and encourages Planned Giving promotion at age forty, much younger than I counsel. There’s a link to their research and my response on my blog.

With these two features in place, your organization is ready to promote Planned Giving.
=-=-=-=-=-=-=-=-=-=-=-=-=-=
Next month, “Start Promoting Planned Giving: Bequests I.”
=-=-=-=-=-=-=-=-=-=-=-=-=-=
Tony Martignetti, Esq. is the host of Tony Martignetti Nonprofit Radio. He’s a Planned Giving consultant, speaker, author, blogger and stand-up comic. You’ll find him at TonyMartignetti.com.
=-=-=-=-=-=-=-=-=-=-=-=-=-=
Have you seen The Fundraising Series of ebooks ??
=-=-=-=-=-=-=-=-=-=-=-=-=-=
If you’re reading this on-line and you would like to comment/expand on the above, or would just like to offer your thoughts on the subject of this posting, we encourage you to “Leave a Reply” at the bottom of this page, click on the feedback link at the top of the page, or send an email to the author of this posting. If you’ve received this posting as an email, click on the email link (above) to communicate with the author.

Why Have A Planned Giving Program?

Last month I defined Planned Giving.

Why have a Program? I’ve got a few reasons.

Build lifetime relationships. When a donor tells you they’ve put you in their estate or retirement plan, you’ve got the rest of their life to thank them. And you should take every opportunity. Draw them close to your work by inviting them to events; offering insider emails and print pieces; picking up the phone to say, “I was thinking of you;” dropping them a handwritten note or card; and generally showing your charity’s gratitude for their gift. Sincerity need not cost a lot.

Build endowment. Most gifts by will are unrestricted and I routinely encourage clients to put as much unrestricted gift revenue as possible into endowment. I know it’s hard, but do it. Restricted gifts that are non-expendable belong in your endowment without question—and in many states, by law. If you don’t have a Planned Giving program, don’t you wish your office had started it years ago? What size would your endowment be today and how much revenue would it produce each year? This is the time to start—or expand—your endowment.

Grow other giving. It’s not unusual for those who invest in your charity for the rest of their lives, to increase their cash giving as they get more familiar with your good work. See the value of those lifetime relationships I mentioned?

Welcome people of low or modest means. Most of the planned gifts have no lifetime cost. Think of the bequest in a will or naming your charity as beneficiary of an individual retirement account. They come from your donor’s estate and cost nothing while she’s living. For lots of people, Planned Giving offers the only way they can make their ultimate gift to you. They’d like to do it now but can’t afford to. Welcome those people and give them an opportunity.

Help through the next recession. People die irrespective of the unemployment rate, the state of the economy and earnings on the NASDAQ and Dow Jones averages. When money is tight in your office because other sources of revenue like lifetime individual giving, government contracts and foundations have constricted, cash still flows from your donors’ wills, life insurance, pensions, IRAs, charitable trusts and other planned gifts.

Look to these if you need to convince a reluctant boss or board why they should let you start a Planned Giving program. Tell them, “There’s gold in them there wills!”

Next month’s third Thursday: “What You Need To Get Planned Giving Started.”
=-=-=-=-=-=-=-=-=-=-=-=-=-=
Tony Martignetti, Esq. is the host of Tony Martignetti Nonprofit Radio. He’s a Planned Giving consultant, speaker, author, blogger and stand-up comic. You’ll find him at TonyMartignetti.com.
=-=-=-=-=-=-=-=-=-=-=-=-=-=
Click this link to find descriptions of all the titles in The Fundraising Series of ebooks.
=-=-=-=-=-=-=-=-=-=-=-=-=-=
If you’re reading this on-line and you would like to comment/expand on the above, or would just like to offer your thoughts on the subject of this posting, we encourage you to “Leave a Reply” at the bottom of this page, click on the feedback link at the top of the page, or send an email to the author of this posting. If you’ve received this posting as an email, click on the email link (above) to communicate with the author.