Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Legacy Giving In Your Spare Time

901 views

Published on

  • Be the first to comment

  • Be the first to like this

Legacy Giving In Your Spare Time

  1. 1. Legacy Giving in Your “Spare” Time An outcomes-based approach to attracting long-term support Greg Lassonde, CFRE Legacy Giving Specialist (510) 482-1502 greglassonde.com legacygiving.com
  2. 2. I. Why II. How III. Random Questions
  3. 3. “Why” Overview • Tremendous Revenue Opportunity • Legacy Giving Building Blocks Philosophy • Why Legacy Giving is Important • Common Obstacles to starting a program • Why People Create Legacy Gifts • Measuring Success
  4. 4. Define Legacy Giving? • To convey one's values through creation of a future gift to charity • A foresighted action to strengthen a favorite cause
  5. 5. Legacy Gifts • Provide future support for charity (sometimes current) • Are contributions: – by will – trust – other forms of written designation – life-income arrangements – endowment gifts 5
  6. 6. Legacy Gifts • Are created by: – Any individual – At any point in his / her life 6
  7. 7. Simple & Easy Via Beneficiary Form • Savings account • Checking account • Stocks or bonds • IRA or pension • Life Insurance policy
  8. 8. More Complicated Types • Will or living trust • Charitable gift annuity • Life income trust • Many others
  9. 9. Tremendous Opportunity • Seven out of ten Americans make gifts to charity during their lifetime. • Yet fewer than one in ten leaves a gift to charity in their will or trust. Why? • Because most people have never been asked!
  10. 10. Building Blocks Philosophy • Emphasize sustainability and resource management • Describe long-term objectives and outcomes • Engage volunteers, supporters and staff • Focus on relationships, not techno-babble
  11. 11. Building Blocks Philosophy • Express ongoing appreciation of legacy donors • Communicate how legacy giving impacts mission • Simple plan, consistently applied
  12. 12. Why Encourage Legacy Gifts?
  13. 13. Why Legacy Gifts Are Important • Almost everyone is a prospect • For most people it’s the largest gift they make • It has the lowest cost of fundraising • Legacy donors make larger annual gifts 13
  14. 14. Why Legacy Gifts Are Important • Only a small percentage of donors asked • Wide variety of options, many easy to create • Only revenue that increases during recession • Staggering transfer of wealth in next 50 years 14
  15. 15. Common Obstacles to Starting a Program • Uncertain why it’s important • Subject matter perceived to be too difficult • Concern it takes a lot of staff time • Fear that it requires a large budget • Misconception that only wealthy create them • Unsure how to obtain board / staff support
  16. 16. We’ll Start a Program …
  17. 17. What Does Your Organization Need To Build A Program? • Understand why legacy giving is important • Willingness to talk with others • Commitment to celebrate legacy gifts and the individuals who create them
  18. 18. Why People Create Legacy Gifts • Express appreciation to a charity that served them • Support and sustain organizations they care about • Reflects a cultural, ethical or religious value • Meets a need of the community
  19. 19. Why People Create Legacy Gifts • Memorialize themselves or a loved one • Serves as an example to future generations • Creates something of beauty • Accomplishes planning and financial benefits
  20. 20. Measuring Success • Annual goal for people who raise their hands – One-on-one conversations – Direct response • Recruitment goal for your legacy donor society • Legacy giving = organizational priority, not development office responsibility
  21. 21. Building Blocks • Mission, Legacy Giving & Endowment – Understanding why legacy giving is important • Case – Describing how legacy giving will help your organization • Leadership – Involving board and staff leadership in your program • Prospects – Identifying and approaching the best supporters 21
  22. 22. Building Blocks • Stewardship – Fostering and supporting relationships with those who have committed • Communications and Marketing – Sharing your story and promoting opportunities • Program Plan – Defining and building a plan for sustainable revenue 22
  23. 23. Why Building Blocks Works • Easy to understand • Defines legacy giving goals • Focuses on engaging staff and volunteer leaders • Simple prospect education & cultivation strategies
  24. 24. Why Building Blocks Works • Emphasizes stewarding relationships • Promotes outcomes-based communication • Straightforward plan, consistently applied over time • Create culture that values long-term support
  25. 25. II. How A. Prepare for and Develop Your Case B. Launch Your Bequest Program C. Additional resources
  26. 26. A. Prepare for and Develop Case • Organizational long term commitment • Determine your market – Major donors = MINORITY – Smaller donors = MAJORITY • Ask peer’s, “What’s working?”
  27. 27. A. Prepare for and Develop Case • Volunteer and staff “buy in” – Development, administration, finance – Board officers, committees • Be prepared to spend $ (even a little) – Basic brochure – Donor Recognition
  28. 28. A. Prepare for and Develop Case • Draft a case statement – Specific / unique needs for endowment – Dollars needed • For what • By when – Work through committees / board • Gift(s) at each stage
  29. 29. A. Prepare for and Develop Case • Board resolution – Committee structure – Ethics (Model Standards of Practice) – Vehicles permitted – Gift uses • Endowment • Endowment & capital • Spend it now? (sometimes)
  30. 30. B. Launch Bequest Program • Start with key volunteers • Utilize direct response opportunities – Newsletter – Direct mail checkbox – Acknowledgement slip – Bequest Mailing • Brochure
  31. 31. B. Launch Bequest Program • Prompt Response to Inquiries – General letter with handouts – Follow up phone call(s) • Legacy Giving Committee – Volunteers make the gift
  32. 32. B. Launch Bequest Program • Legacy Giving Committee – Members make the gift – You staff volunteer efforts • scripts and other materials • regular contact • reward success • spread the word
  33. 33. B. Launch Bequest Program • Recognition society – Personal name / key word – Welcome letter, enrollment form, certificate – Annual event • Promote designations – Insurance, retirement plan / IRA, checking, saving, stocks / bonds
  34. 34. C. Additional resources • Partnership for Philanthropic Planning – Journal of Gift Planning • Northern CA Planned Giving Council – Basics Course, Primer Program, Annual Conference Fundamentals Track • Planned Giving Today
  35. 35. C. Additional resources • Planned Giving: Management, Marketing and Law; Second Edition • The Complete Guide to Planned Giving; Revised Third Addition
  36. 36. Thank You! For more information and resources: www.greglassonde.com www.legacygiving.com

×