The Evolution of a Planned Giving Program


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Many organizations are struggling with the decision to start a plan giving program. Many are actively engaged in various forms of fund raising and plan giving never seems to get on top of the "pile" of things to do. This interactive session will present an overview of various forms of planned giving programs that can be run with volunteers, part-time staff, and/or full-time staff. Things you need to know, structures you need to build, donated property you can readily accept, timelines to be expected, and controls you need to put in place will all be discussed. Most importantly, your questions will be answered. So bring them on May 14!

About DeWayne Osborn:

Lawton Partners’ General Manager, Chief Compliance Officer and in-house expert on charitable and planned giving, DeWayne is one of Canada’s leading authorities on planned giving. DeWayne's professional knowledge as a Certified Financial Planner (CFP) and Certified General Accountant (CGA), has made DeWayne a highly sought-after public speaker and consultant on the financial complexities and philanthropic benefits that can be achieved by applying tax-effective strategies for gifting real property, cash, securities and life insurance products.

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The Evolution of a Planned Giving Program

  1. 1. The Evolution of a Planned Giving Program
  2. 2. DeWayne Osborn from Lawton Partners TODAY’S PRESENTER
  3. 3. WEBINAR REMINDERS • You can hear us, but we can’t hear you. • Have questions? Type questions in the Questions Log. • Turn up your computer’s volume. • For the best webinar experience, close all other applications. • Yes! The links to the webinar slides and recording will be emailed to you today. 2
  4. 4. WHAT IS CANADAHELPS? • A public charitable foundation and registered charity. • Through, anyone can donate to any registered Canadian charity online. • We have facilitated over $400 million in charitable donations online since our launch in 2000. • 14,500 charities use us to collect donations and fundraise online. • Over 850,000 Canadians have donated through CanadaHelps. • For donors, CanadaHelps is a one-stop-shop for giving. For charities, CanadaHelps is an online fundraising solution that is affordable, easy and secure. WELCOME TO GIVING MADE SIMPLE!
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  6. 6. The Evolution of a Planned Giving Program DeWayne Osborn CGA, CFP Lawton Partners Financial Planning Services Limited Presented to May 2014
  7. 7. Overview:  What is planned giving  Types of programs  Key components of any program  Policies and procedures to consider  Structural considerations  Timelines to consider The Evolution of a Planned Giving Program
  8. 8. What is planned giving?  A gift of such significance that it requires careful consideration by donor, family, and financial advisors.  Significance is defined by the donor  May be known or unknown  Can be today or deferred to a later date, or both  80+% are by bequest  Often be in conjunction with other gifts  Method of choice for $trillions in the next 20 years. The Evolution of a Planned Giving Program
  9. 9. Examples of property  Cash  RRSP, RRIF, TFSA  Listed securities  Insurance policies  Real Estate  Interests in trusts  All of the above in combination! The Evolution of a Planned Giving Program Simple Oh Boy!!!! Need Policies and Procedures to deal with the types of gifts your organization will accept
  10. 10. The Evolution of a Planned Giving Program • Refer to hand out: Suggested Timelines for Planned Giving • Outright gifts can occur anytime • Shows the optimal time to market certain property or concepts • Sweet Spot for maximum opportunities is 55 to 75 years old Timelines for common planned gift strategies
  11. 11. Types of Programs  Volunteer driven  Part-time  Full-time The Evolution of a Planned Giving Program
  12. 12.  Younger organizations  Events based organizations  Organizations with lots of skilled volunteers  Local, community centered  Very simple gifts  Simple systems  Great starting point!  Little or no marketing  Financial payback is very fast The Evolution of a Planned Giving Program Volunteer driven program
  13. 13. Part-time program The Evolution of a Planned Giving Program • Vast majority of programs • Larger organizations with <10 staff • Corner of desk operation • ¼ - 1/2 time development staff person • Slightly complicated gifts (listed securities) • Volunteer advisors (Committees) • Co-op or integrated marketing • Minimal investment • Payback 3-5 years • A maturing volunteer program
  14. 14. Full time program  Rare in Canada  Dedicated staff  Dedicated systems and software  Very large organizations  Very established organizations  All gift complexities (turn key)  Planned gift specific marketing  In house advisors  Payback >5 years  Mature part-time program The Evolution of a Planned Giving Program
  15. 15. Key components of any program The Evolution of a Planned Giving Program • Cause, cause, cause and more cause!!! • History of great work • High awareness in the community • Certainty of organizational stability and survivability • History of donations • Existing major gifts programs • Dedicated volunteers with vision • Larger number of donors (>10,000) • Modern donor software and systems Must have Nice to have Exceptions can occur, you just never know!!
  16. 16. Policies and procedures to consider The Evolution of a Planned Giving Program • Name a board champion/lead gift • Determine the type of program • Establish budget (min 3 yrs) • Determine your planned gifts “box” • Establish P&P for each gift (see attached) • Deeds of gift (see attached) • Establish a Gift Acceptance Committee (GAC) • Name responsible person/staff • Establish quantifiable criteria to assess program • Get to it! • One way track, no turning back!!
  17. 17. Measurement/assessment considerations The Evolution of a Planned Giving Program • Do not used $$ raised • # of “Touches” • Monitor financial inputs • # of Opportunities identified • # of events held/attended • Successful volunteer recruitment • Meeting marketing objectives (# of articles) • Understand the time value of money!!
  18. 18. Structural considerations The Evolution of a Planned Giving Program • Patience is critical • Discard fund raising preconceptions or experience • Internal communication (E.g. who will answer the phone) • Financial investment required • Ducks in a row! • Policy and program flexibility • Know/find the age of your donors! • Know donation frequency history • Need tax/legal resources and advisors • Systems to spot opportunities Do not be fooled: bequests are not simple!
  19. 19. Timelines to consider The Evolution of a Planned Giving Program • Fundraising metrics do not apply • Bequest received = 1 in 4 • Part-time program 3 to 5 years breakeven • Full-time >5 years = breakeven • One donor meeting = 2-3 hours • Planned gift donors expect calls on time! • Years to close gift • Insurance = 30+ years monitoring • Stewardship is the hard part!
  20. 20. Questions? The Evolution of a Planned Giving Program
  21. 21. Thank you The Evolution of a Planned Giving Program
  22. 22. Educational and training opportunities through MyCharityConnects
  23. 23. UPCOMING WEBINARS Taking Donor Stewardship Online by guest speaker Holly Wagg Date: Wednesday, May 28, 2014 Time: 2:00-3:00PM Eastern Time Instagram 101: Tell Your Story and Engage your Donors with this Popular App by guest speaker Alex Zanfir Date: Wednesday, June 11, 2014 Time: 2:00-3:00PM Eastern Time
  24. 24. STAY IN TOUCH @canadahelps 1-877-755-1595