Starting the planned giving conversation

Let’s talk!STARTING THE PLANNED GIVING CONVERSATION: HOW and WHOM TO SOLICIT FOR PLANNED GIFTS November 16, 2011 presented to AFP Westchester, NY by Lorri Greif, CFRE Breakthrough Philanthropy, Inc. 888-832-7974 (888easypg) www.breakthroughphilanthropy.com www.easypg.com lgreif@easypg.com Presented© 2011 Breakthrough Philanthropy, Inc. by ©(, CFRE

Why Have a Planned Giving Program?• Competition for charitable dollars• Additional way for donors to give to you• Donors can use assets instead of income• Strengthen donor bonds• Grow endowment• The “ultimate gift”• Longevity 2

MOST COMMON PLANNED GIFTS• 75%+ Bequests from wills & trusts • Beneficiary designation• 11%+ Charitable gift annuities – Pension plan – Immediate • beneficial taxation when – Deferred estate planning – flexible • PPA• Charitable remainder trusts – Life insurance – Annuity trust is a fixed dollar – Bank account, brokerage payout account, CD, etc. – Unitrust is a fixed percentage • Retained life estate payout and is more flexible • Charitable lead trusts• Life insurance • Gifts of securities, real estate, – Only permanent insurance and other assets – Outright gift or replacement – are also common but they are insurance not necessary planned gifts 5

AMAZING YET COMFORTING STATISTICS FOR PLANNED GIVING• IN 2008, 8 OF THE 11 LARGEST GIFTS (73%) TO NONPROFITS WERE BEQUESTS • CHRONICLE OF PHILANTHROPY• IN 2009, $23.8 BILLION WAS RECEIVED IN BEQUESTS • GIVING USA 2010• IN 2010, $22.8 BILLION WAS RECEIVED IN BEQUESTS • GIVING USA 2011• 7%-9% OF ALL CHARITABLE GIFTS ARE BEQUESTS, • GIVING USA - GOING BACK DECADES• 100% OF YOUR DONORS WILL DIE • LORRI GREIF, CFRE & EVERYBODY ELSE 4

2009 charitable giving total = $303.75 billion

PLANNED GIVING IS FUNDRAISING• ALL PLANNED GIFTS ARE MAJOR GIFTS – Have a case for support for planned gifts – Visibility; IT’S A CAMPAIGN!• RESEARCH DONOR POOL – Who are best prospects – Only people• NOT THE FIRST GIFT – Usually a long term relationship• RATING POTENTIAL – More commitment than capacity 6

WHO ARE YOUR BEST PROSPECTS?• LOW HANGING FRUIT – Board members (a must) • Current and emeritus – Long time supporters through: • Membership • Direct mail (consistency and not amount) • Major gifts • Events• EVERYONE ELSE – No close surviving family (best prospect) – Volunteers – Grateful givers (illness, family assistance, etc.) 7

DONOR-CENTERED FUNDRAISING 8

DONOR CENTERED FUNDRAISING• Cultivate and educate donor – Great relationship – Donor knows you want planned gifts• What does the donor care about – It’s what calls to the donor – their vision & not yours or the nonprofit’s• ASK (more details coming) – Open ended – Don’t ask for an amount• Donor’s choice & schedule – Taking action needs a set schedule so try to talk specifics in process and time 9

THE ASK• HOW – Let everyone know there’s a campaign so no one feels singled out • Visibility – Initial ask should be respectful of how the relationship works: • Regular form of communication such as a letter or brochure (but not an email or text) or • Make an appointment to meet• WHEN – After relationship is forged – Never stop asking until you are told to by prospect – Separately when meeting face-to-face but piggy- backed in other instances 10

THE ASK• WHO SHOULD ASK? – This is really personal stuff so: • A best friend (or fellow board member) who’s done this already You • Professional fundraiser know, I did it• WHERE – Privately • Home • Office • Quiet and private conversation place 11

THE ASKNot About It Is About• Death • Donor’s Passion for• The End Nonprofit’s Work and• Doom and Gloom Mission• Make a gift now before it’s • Donor’s Vision and Dreams too late!! • Donor’s Desire to Help• Charitable Trusts or Other • Facilitating Donor’s personal Technical Gifts Financial Desires• Taxes • Legacy 12

THE ASK - SUGGESTIONS• In Person: – Joan, your gifts make a huge difference. Over the years we’ve been able to *put more children into good schools or whatever] and [ blah, blah]. Have you given any thought to helping children in future years with a bequest? It could establish your charitable legacy for who knows how many generations! – Howard, your wife mentioned your doing some estate planning and review, now that there are changes to estate taxes. Now that your making changes to your will, I wonder if you’ve ever considered extending your support with a bequest to us. I know how much you care about our work… 13

THE ASK - SUGGESTIONS• Direct Mail/Membership: – Dear loyal donor/member, for many years you have been a treasured member of the XYZ family. We are truly grateful that you have been so caring for so long. Now we are writing to ask if you will make XYZ a part of your own family, by including us in your will or trust. By doing this, all the things that you have made possible because of your love for our work, will have a long future of success.• Volunteer: – Harry, you’re really like a part of our [nonprofit’s name] family. You must really like us. Is it the people here or our mission or exactly why do you put in so much time with us? Then take your lead from discussion. 14

THE ASK – AMAZING MOMENTS• People may tell you amazing things: – You’re already in my will – I’m caring for a sick child (who’s now 45)… • The person with the sick child may also be a candidate for a trust (so you say what if I can make it possible to care for your child’s future and also ours?) – My mother’s jewels are still sitting in a vault… • The mother’s jewels may be perfect for a charitable trust (but all you have to ask the donor is: would you want to establish a legacy for your mother?). – I just inherited a fortune… – I’m leaving my spouse… – Special private story• That’s when you seek expert help – Perhaps we can help your situation … 15

PRACTICE1. Do your research2. Make your list3. Strategy – who, when, how4. DO IT…Often Breakthrough Philanthropy, Inc.888-832-7974 (888easypg)www.breakthroughphilanthropy.comwww.easypg.com Lgreif@easypg.com

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Starting the planned giving conversation

by easyPG on Nov 29, 2011

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Starting the planned giving conversation — Presentation Transcript