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Words That Work
Phrases that encourage major & planned gifts
Results from 20
survey groups
including over
14,000 total
participants
collected during
2013-2016 with one
goal:
To uncover the messages and phrases that
work to encourage planned & major gifts
Philanthropy as
synthetic family
Philanthropy is a SOCIAL act using the
mechanisms of FAMILY bonding
Philanthropy uses family bonding mechanisms
• Charitable giving is
rewarding (like receiving
money)
• But uniquely involves
oxytocin-rich social
attachment brain regions
(used in maternal and
romantic love)
“donating to societal causes recruited two types of reward
systems: the VTA–striatum mesolimbic network, which also
was involved in pure monetary rewards, and the subgenual
area, which was specific for donations and plays key roles in
social attachment and affiliative reward mechanisms in
humans and other animals.” Moll, et al (2006) PNAS 103(42), p.
156234.
Increasing
neuropeptide
“oxytocin” – a
family bonding
hormone –
increases giving
5
Zak, P. J., Stanton, A. A., & Ahmadi, S. (2007). Oxytocin increases generosity in humans. PLoS ONE, 11, e1128
Philanthropy uses family bonding mechanisms
Human touch,
when followed by
a small gift,
elevated oxytocin
levels AND
subsequent
charitable giving
6
Morhenn, V. B., Park, J. W., Piper, E., Zak, P. J. (2008). Monetary
sacrifice among strangers is mediated by endogenous oxytocin
release after physical contact. Evolution and Human Behavior,
29, 375-383.
Philanthropy uses family bonding mechanisms
The strongest
predictor of
charitable
bequest
planning is
childlessness
7
James, R. N., III. (2009). Health, wealth, and charitable estate planning: A longitudinal examination of
testamentary charitable giving plans. Nonprofit and Voluntary Sector Quarterly, 38(6), 1026-1043.
Charitable estate giving as
“synthetic family”
8
Philanthropy is a “social act”
Charitable giving generated greater
activation in brain reward centers (ventral
striatum) when observers were present
Izuma, K., Saito, D. N., & Sadato, N. (2010). Processing of the Incentive for Social Approval in the Ventral Striatum during Charitable Donation.
Journal of Cognitive Neuroscience, 22 (4), 621-631.
Philanthropy as
synthetic family
Philanthropy is a SOCIAL act using the
mechanisms of FAMILY bonding
Build family-social relationships,
not market-contract relationships
Do you call?
Do you write?
Do you visit?
Are you closer to
extended family
members who
do these things?
Family words
(simple language and life stories)
outperform
formal words
(technical, contract, market terms)
Philanthropy is a SOCIAL act using the
mechanisms of FAMILY bonding
Market
Realm
(exchange)
I engage in
transactions by
formal contract
Social
Realm
(identity)
I help people
because of who I
am
Use
family
language
Stories
and
simple
words
Avoid
market
language
Formal,
legal, or
contract
terms
Would you say it in a normal
conversation with your grandmother?
Make a
giftwhere you get an immediate tax
deduction, still control the
investment of the assets and
receive income from the
investments for the rest of your life
with anything left over going to
charity at your death.
where you get an immediate tax
deduction, still control the
investment of the assets and
receive income from the
investments for the rest of your life
with anything left over going to
charity at your death.
Make a transfer
of assets
Different groups rate their interest after receiving different descriptions
Does it make much difference?
Describing a CRT
14%
54%
32%
27%
53%
20%
Interested now Not now, but in
future
Will never be
interested
Transfer
GiftMakeagift
where you get an immediate tax deduction, still control the investment of the
assets and receive income from the investments for the rest of your life with
anything left over going to charity at your death.
where you get an immediate tax deduction, still
control the investment of the assets and receive
income from the investments for the rest of your life
with anything left over going to charity at your death.
Makeatransferofassets
2014 Survey (A/B)
1,101 Respondents
Make a
giftand in exchange receive a
guaranteed lifetime income from
the charity.
and in exchange receive a
guaranteed lifetime income from
the charity.
Enter into a
contract with a
charity where
you transfer your
cash or property
Does it make much difference?
Describing a CGA
13%
44% 44%
29%
48%
23%
Interested now Not now, but in
future
Will never be
interested
Contract
Gift Makeagiftand in exchange receive a
guaranteed lifetime income from the charity
receive a guaranteed lifetime income from the charity
Enterintoacontractwithacharitywhereyou
transferyourcashorpropertyand in exchange
2014 Survey (A/B)
1,101 Respondents
Formal terms lower charitable
interest
Interested
Now
36%
22%
Will Never
Be
Interested
14%
23%
2014 Survey, 1,417 Respondents, Group F/G
Get an immediate tax deduction and still receive
income from your investments for the rest of
your life by making a gift where you control the
investment of the assets, but anything left over
goes to charity at your death.
Get an immediate tax deduction and still receive
income from your investments for the rest of
your life by making a gift
using a “Charitable
Remainder Trust”
where you control the investment of the assets,
but anything left over goes to charity at your
death.
Formal terms lower charitable
interest
Interested
Now
50%
23%
Will Never
Be
Interested
8%
19%
2014 Survey, 1,418 Respondents, Group F/G
Receive a tax deduction and
make a gift that pays you
income for life
Receive a tax deduction and
make a gift that pays you
income for life
called a “Charitable
Gift Annuity”
Formal terms lower charitable
interest
Interested
Now
26%
15%
Will Never
Be
Interested
23%
30%
2014 Survey, 1,422 Respondents, Group F/G
Immediately receive a tax deduction for
70% of the value of a house or land by
making a charitable gift of the property,
but keeping the right to use it for the
rest of your life.
Immediately receive a tax deduction for
70% of the value of a house or land by
making a charitable gift of the property,
using a “Remainder
Interest Deed”
but keeping the right to use it for the
rest of your life.
Interested
Now
23%
12%
Will Never
Be
Interested
12%
14%
2014 Survey, 1,246 Respondents, Groups D/E
Make a gift to charity in
my will
Make a bequest gift
to charity
Formal terms lower charitable
interest
Drop in “Interested Now” with
formal terms
Phrase Women Men 50+
“bequest gift” -14.2% -7.3% -13.0%
“Enter into a contract
with a charity…”
-19.2% -11.8% -9.7%
“using a Remainder
Interest Deed”
-12.6% -9.3% -7.4%
“called a Charitable Gift
Annuity”
-25.6% -26.9% -20.1%
“using a Charitable
Remainder Trust”
-12.9% -14.7% -10.2%
“Make a transfer of
assets…”
-12.0% -12.8% -4.9%
New
Research
Questions
How should you describe these in a way that people
are most interested in learning more?
• CGAs
• General planned giving information
• Bequest gifts
• General estate planning
• Tax benefits
How should you describe them in a way that more
people actually understand what you mean?
How do you say “CGA” so that people
will want to know more?
Suppose you are viewing the
website of a charity representing
a cause that is important in your
life. In addition to a “Donate
Now” button, the following
buttons appear on the website.
Please rate your level of interest
in clicking on the button to read
the corresponding information.
(1)I am definitely NOT interested
(2)I don’t think I would be interested
(3)I don’t know if I would be interested
(4)I might be interested
(5)I am definitely interested
Charitable gift annuities
Life income gifts
Get a tax deduction and make a
gift that pays you income for life
Gifts that pay you income for life
Gifts that pay you income
I am
definitely
interested
__%
__%
__%
__%
__%
Survey #1: 2,550 respondents
assigned to 5 different surveys
I am
definitely
interested
5%
9%
26%
28%
29%
Charitable gift annuities
Life income gifts
Get a tax deduction and make a
gift that pays you income for life
Gifts that pay you income for life
Gifts that pay you income
Survey #1: 2,550 respondents
assigned to 5 different surveys
Does this differ for
people of different
ages, or for people
who make
substantial donations
to charity?
Charitable gift annuities
Life income gifts
Get a tax deduction and
make a gift that pays
you income for life
Gifts that pay you
income for life
Gifts that pay you
income
I am definitely interestedAll
5%
9%
26%
28%
29%
55+
4%
11%
22%
25%
23%
$1k+
5%
10%
26%
27%
26%
Group Differences
Donor
Survey #2
(2,750 respondents)
Is there a better variation of
“Gifts that pay you income”?
Gifts that pay you income
Gifts that pay you guaranteed
income
Gifts that pay you
Gifts that pay you income and
avoid taxes
Gifts that pay
I am
definitely
interested
__%
__%
__%
__%
__%
Survey #1: 2,750 respondents
assigned to 5 different surveys
Gifts that pay you income
Gifts that pay you guaranteed
income
Gifts that pay you
Gifts that pay you income and
avoid taxes
Gifts that pay
I am
definitely
interested
30%
30%
29%
26%
24%
Survey #1: 2,750 respondents
assigned to 5 different surveys
What does
it mean?
When you click on the
phrase, what do you think
you are going to see?
Which of the following types of
information would you expect
when clicking on the button labeled
"__[CGA Term]__"
(1)I definitely did NOT expect this
(2)I didn't really expect this
(3)I don't know if I expected this
or not
(4)I guess I expected this
(5)I definitely expected this
“How to make
a gift and, in
return, receive
lifetime
income from
the charity”
Charitable gift annuities
Life income gifts
Gifts that pay you income
Get a tax deduction and make a
gift that pays you income for life
Gifts that pay you income for life
I definitely
expected
this
__%
__%
__%
__%
__%
“How to make a gift and, in return,
receive lifetime income from the charity”
Which of the following types of information
would you expect when clicking on the button
labeled "_______"
Charitable gift annuities
Life income gifts
Gifts that pay you income
Get a tax deduction and make a
gift that pays you income for life
Gifts that pay you income for life
15%
24%
30%
31%
34%
“How to make a gift and, in return,
receive lifetime income from the charity”
I definitely
expected
this
Which of the following types of information
would you expect when clicking on the button
labeled "_______"
Charitable gift annuities
Life income gifts
Get a tax deduction and
make a gift that pays you
income for life
Gifts that pay you income
for life
Gifts that pay you income
I am definitely
interested
__%
__%
__%
__%
__%
I definitely
expected this
__%
__%
__%
__%
__%
“How to make a gift and,
in return, receive lifetime
income from the charity”
Combined Results
Charitable gift annuities
Life income gifts
Get a tax deduction and
make a gift that pays you
income for life
Gifts that pay you income
for life
Gifts that pay you income
I am definitely
interested
5%
9%
26%
28%
30%
I definitely
expected this
15%
24%
31%
34%
30%
“How to make a gift and,
in return, receive lifetime
income from the charity”
Combined Results
They have to be
interested in finding out
more
What is the best “front door” phrase to get people to
read about planned giving information?
They have to expect to
see planned giving
information (i.e., not
“bait and switch”)
They have to be
interested in finding out
more
Suppose you are viewing
the website of a charity
representing a cause
that is important in your
life. In addition to a
“Donate Now” button,
the following buttons
appear on the website.
Please rate your level of
interest in clicking on the
button to read the
corresponding
information.
What is the best “front door” phrase to get people to
read about planned giving information?
Gift planning
Planned giving
Giving now & later
Other ways to give
Other ways to give smarter
Other ways to give cheaper,
easier, and smarter
I am
definitely
interested
__%
__%
__%
__%
__%
__%
Survey #1: 2,550 respondents
Gift planning
Planned giving
Giving now & later
Other ways to give
Other ways to give smarter
Other ways to give cheaper,
easier, and smarter
I am
definitely
interested
3%
4%
7%
16%
20%
23%
Survey #1: 2,550 respondents
Survey #2
(2,750 respondents)
Is there a better way to phrase,
“Other ways to give cheaper,
easier, and smarter”?
Other gifts
More ways to give
Give other ways
How to give cheaper, easier,
and smarter
Other ways to give cheaper,
easier and smarter
I am
definitely
interested
__%
__%
__%
__%
__%
Survey #2: 2,750 respondents
Other gifts
More ways to give
Give other ways
How to give cheaper, easier,
and smarter
Other ways to give cheaper,
easier and smarter
I am
definitely
interested
8%
14%
15%
21%
22%
Survey #2: 2,750 respondents
What is the best “front door” phrase to get people to
read about planned giving information?
They have to expect to
see planned giving
information (i.e., not
“bait and switch”)Which of the following
types of information
would you expect
when clicking on the
button labeled
"_______"
1. make a gift of stocks
2. make a gift of bonds
3. make a gift of real estate
4. make a gift in your will
5. make a gift in your living trust
6. make a gift by naming a charity as death beneficiary
of your life insurance policy
7. make a gift by naming a charity as death beneficiary
of your IRA or retirement account
8. make a gift by naming a charity as death beneficiary
of your bank account
9. make a gift and, in return, receive lifetime income
from the charity
10.avoid capital gains taxes by making charitable gifts
11.avoid estate taxes by making charitable gifts
12.avoid income taxes by making charitable gifts
Which of the following
types of information would
you expect when clicking on
the button labeled
"_______“? How to…
12 types of planned
giving information
Gift planning
Planned giving
Giving now & later
Other ways to give
Other ways to give smarter
Other ways to give cheaper,
easier, and smarter
I definitely
expected this
__%
__%
__%
__%
__%
__%
Overall average for all 12 types of planned
giving information
Gift planning
Planned giving
Giving now & later
Other ways to give
Other ways to give smarter
Other ways to give cheaper,
easier, and smarter
I definitely
expected this
20%
12%
7%
15%
19%
12%
Overall average for all 12 types of planned
giving information
Gift planning
Planned giving
Giving now & later
Other ways to give
Other ways to give smarter
Other ways to give cheaper,
easier, and smarter
I am definitely
interested
3%
4%
7%
16%
20%
23%
I definitely
expected this
20%
12%
7%
15%
19%
12%
12 types of PG
info average
Combined Results
How should you say that you want to share
information about making a gift in a will?
Gifts in wills
Gifts in a will
Tax tips for gifts in a will
How to make gifts in a will
Gifts in your will
Will planning
Bequest gifts
I might be/
am definitely
interested
__%
__%
__%
__%
__%
__%
__%
Gifts in wills
Gifts in a will
Tax tips for gifts in a will
How to make gifts in a will
Gifts in your will
Will planning
Bequest gifts
I might be/
am definitely
interested
26%
26%
27%
27%
28%
28%
18%
Interested
Now
23%
12%
Will Never
Be
Interested
12%
14%
2014 Survey, 1,246 Respondents, Groups D/E
Make a gift to charity in
my will
Make a bequest gift
to charity
Previous finding (2014 survey)
Interested
Now
12%
9%
Will Never
Be
Interested
26%
31%
2014 Survey, 1,203 Respondents, Groups D/C
Make a gift by naming a
charity as a transfer-on-
death beneficiary on a
bank account or retirement
account.
Make a bequestgift by
naming a charity as a
beneficiary on a bank
account or retirement
account.
Don’t use “Bequest”
What about
broader estate
planning
terms?
Will planning
Legacy planning
Legacy giving
Planning with trusts & estates
Estate planning
Estate giving
I might be/
am definitely
interested
__%
__%
__%
__%
__%
__%
Will planning
Legacy planning
Legacy giving
Planning with trusts & estates
Estate planning
Estate giving
I might be/
am definitely
interested
28%
18%
18%
17%
16%
14%
Instead of a broad estate planning
term, what about a long list of
several terms?
Gifts in wills
Gifts in wills, trusts, or
retirement accounts
Gifts in wills, trusts, retirement
accounts, or life insurance
Gifts in wills & trusts
I might be/
am definitely
interested
__%
__%
__%
__%
Gifts in wills
Gifts in wills, trusts, or
retirement accounts
Gifts in wills, trusts, retirement
accounts, or life insurance
Gifts in wills & trusts
I might be/
am definitely
interested
26%
25%
24%
23%
Do people expect to see a broad range of
estate planning information?
1. How to make a gift in your will
2. How to make a gift in your living trust
3. How to make a gift by naming a charity as
death beneficiary of your life insurance
policy
4. How to make a gift by naming a charity as
death beneficiary of your IRA or retirement
account
5. How to make a gift by naming a charity as
death beneficiary of your bank account
1. Make a gift in your will
2. Make a gift in your living
trust
3. Make a gift by naming a
charity as death beneficiary
of your life insurance policy
4. Make a gift by naming a
charity as death beneficiary
of your IRA or retirement
account
5. Make a gift by naming a
charity as death beneficiary
of your bank account
Gifts
in
wills
82%
49%
51%
48%
52%
Estate
Planning
64%
53%
48%
46%
46%
Gifts in wills, trusts,
retirement accounts
or life insurance
80%
76%
63%
59%
50%
I definitely/
guess I
expected this
1. Make a gift in your will
2. Make a gift in your living
trust
3. Make a gift by naming a
charity as death beneficiary
of your life insurance policy
4. Make a gift by naming a
charity as death beneficiary
of your IRA or retirement
account
5. Make a gift by naming a
charity as death beneficiary
of your bank account
Gifts in
wills
82%
49%
51%
48%
52%
Estate
Planning
64%
53%
48%
46%
46%
Gifts in wills, trusts, retirement
accounts or life insurance
80%
76%
63%
59%
50%
I might be/am definitely interested26% 16% 24%
Use
family words
(simple language and life stories)
not formal words
(technical, contract, market terms)
Philanthropy is a SOCIAL act using the
mechanisms of FAMILY bonding
Philanthropy is a SOCIAL act using the
mechanisms of FAMILY bonding
SOCIAL examples
influence
charitable
estate decisions
3,000 testators in
the normal process
of completing their
wills were
randomly assigned
to one of three
groups
Many of our customers
like to leave money to
charity in their will. Are
there any causes you’re
passionate about?
Would you like to
leave any money to
charity in your will?
No reference to charity
Cabinet Office Behavioural Insights Team (2013)
Applying behavioural insights to charitable giving
5.0%
10.4%
15.4%
Charitable bequests are influenced by
a simple social example
Charitable
plans among
1,000 testators
Charitable
plans among
1,000 testators
Charitable
plans among
1,000 testators
Many of our customers
like to leave money to
charity in their will. Are
there any causes you’re
passionate about?
Would you like to
leave any money to
charity in your will?
No reference to charity
Cabinet Office Behavioural Insights Team (2013)
Applying behavioural insights to charitable giving
The social example also increased the
average amount of bequest gifts
Cabinet Office Behavioural Insights Team (2013)
Applying behavioural insights to charitable giving
$5,610 $5,291
$11,333
No ask Simple Ask Social Norm
Using £1=$1.70 exchange rate
Charitable
plans among
1,000 testators
Charitable
plans among
1,000 testators
Charitable
plans among
1,000 testators
The social norm increased
charitable bequest intentions
Interested
Now
31%
23%
12%
Will Never
Be
Interested
9%
12%
14%
2014 Survey, 2,369 Respondents, Groups D/E/LateG+H
Many people like to leave a
gift to charity in their will. Are
there any causes you would
support in this way?
Make a gift to charity in my
will
Make a bequest gift to charity
Testing
Charitable
Gift
Annuity Ad
Messages
What “you” would do or what another
donor has done?
Please rate your interest in pursuing the above described charitable
giving arrangement
Interested Now
Definitely/somewhat/slightly
All: ____%
55+: ____%
All: ____%
55+: ____%
Please rate your interest in pursuing the above described charitable
giving arrangement
All: 38.6%
55+: 38.6%
All: 33.5%
55+: 23.2%
Interested Now
Definitely/somewhat/slightly
What “you” would do or what another
donor has done?
Text only or text and donor picture?
All: ___%
55+: ___%
All: ___%
55+: ___%
Please rate your interest in pursuing the above described charitable
giving arrangement: % Interested now (definitely/somewhat /slightly)
Text only or text and donor picture?
All: 38.6%
55+: 38.6%
All: 31.1%
55+: 29.8%
Please rate your interest in pursuing the above described charitable
giving arrangement: % Interested now (definitely/somewhat /slightly)
What’s the problem with the
donor picture? Is it just this
photo? This donor age? Is it
photos in general or what?
55+
___%
___%
___%
Interested now (definitely/somewhat /slightly)
35-54
___%
___%
___%
U-35
___%
___%
___%
55+
24.4%
22.0%
41.1%
Interested now (definitely/somewhat /slightly)
35-54
38.4%
47.4%
30.6%
U-35
44.5%
32.6%
30.2%
How do these compare with text
only or a non-donor photo?
55+
1st
44.4%
3rd
28.3%
24.4%
22.0%
41.1%
Interested now
(definitely/somewhat /slightly)
Young
Middle
Older
35-54
3rd
40.1%
2nd
44.6%
38.4%
47.4%
30.6%
U-35
3rd
34.7%
2nd
36.4%
44.5%
32.6%
30.2%
All
1st
40.1%
2nd
36.5%
35.8%
34.0%
34.0%
Age matched
donor pictures
are OK
Otherwise, use
text only or a
different picture
Social norms are more powerful
when the examples are like me
You can support
Golomolo by donating 20
Swedish crowns. 73% of
Linnaeus University
students who were
asked for a contribution
have donated 20 Swedish
crowns to Golomolo.
You can support
Golomolo by donating 20
Swedish crowns. 73% of
University students in
Sweden who were asked
for a contribution have
donated 20 Swedish
crowns to Golomolo.
You can support
Golomolo by donating 20
Swedish crowns.
Agerström, J., Carlsson, R., Nicklasson, L., & Guntell,
L. (2016). Using descriptive social norms to increase
charitable giving: The power of local norms. Journal
of Economic Psychology, 52, 147-153.
Philanthropy is a SOCIAL act using the
mechanisms of FAMILY bonding
SOCIAL examples
influence
charitable
estate decisions
$3,000
$4,000
$5,000
$6,000
$7,000
$8,000
$9,000
Before
-8
years
Before
-6
years
Before
-4
years
Before
-2
years
Mixed After
+2
years
After
+4
years
After
+6
years
After
+8
years
AnnualCharitableGiving
inConstant(InflationAdjusted)2012Dollars Giving Before and After Adding
Charitable Beneficiary to Estate Plan9,439 observations from a nationally representative longitudinal study
$7,381
average annual
giving post-plan
$4,210
average annual
giving pre-plan
+$3,171
average
annual giving
increase
New Survey
v.
Instead of testing
question wording, now
testing impact of
marketing messages for
40 national charities
(4,560 participants)
Baseline BEQ Give
Amer Cancer Society 26.79 36.77
The Red Cross 25.93 41.12
ASPCA 24.18 33.77
Habitat for Humanity 24.01 34.90
Amer Heart Association 23.17 33.95
Natl Cancer Coalition 22.56 34.54
Breast Cancer Res Fnd 22.53 33.93
Natl Breast Cancer Fnd 22.43 33.48
The Amer Humane Assn 22.23 33.91
The Alzheimer's Found 21.40 32.00
Susan G. Komen Br Canc 21.39 29.22
Dana Farber Cancer Inst 21.13 29.63
American Diabetes Assn 20.84 32.54
World Wildlife Fund 20.82 29.08
Guide Dogs for the Blind 20.80 31.46
The Alzheimer's Assn 20.80 31.86
American Lung Assn 20.78 31.40
MD Anderson Cancer Cr 20.59 30.53
UNICEF 20.37 32.31
The Salvation Army 19.98 31.44
Baseline BEQ Give
Wildlife Conserv Soc 19.90 29.26
Goodwill Industries 19.65 34.42
Big Brothrs/Big Sisters 19.47 30.49
The United Way 18.97 28.97
Joslin Diabetes Center 18.91 29.18
Canine Compan for In 18.90 29.67
Fnd Fightng Blindness 18.77 28.37
AIDS Project LA 17.71 25.64
Prevent Blindss Amer 17.51 28.32
San Fran AIDS Found 17.39 25.49
Nat Audubon Society 17.33 24.24
YMCA 17.16 28.12
Boys and Girls Clubs 17.14 30.10
Girl Scouts 16.71 31.27
YWCA 16.21 24.42
Amer Indian College F 15.97 22.33
CARE 15.86 24.69
Boy Scouts 14.51 23.56
United Negro Coll Fnd 14.13 21.90
Ducks Unlimited 13.60 19.49
Other groups received messages after
the current giving question to see if the
bequest gap would shrink
Social Norms
Formal Evidence
Information indicating that
it is common for Americans
to leave 5% or 10% to
charity. Sharing survey
results showing agreement
with concept.
Spendthrift Heirs
Formal Evidence
Statistics showing how
rapidly heirs typically
spend inheritance from
published academic
research
Message
Give-
BEQ Gap
Gap
50+
Gap
Male
Gap
Female
None 10.2 14.0 7.7 11.7
Spendthrift Heirs (Formal) 9.4 11.4 8.4 10.1
Social Norms (Formal) 8.8 11.7 7.5 9.7
Heirs + Social Norms 8.0 10.2 6.4 9.0
Family words
(simple language and LIFE STORIES)
outperform
formal words
(technical, contract, market terms)
Philanthropy is a SOCIAL act using the
mechanisms of FAMILY bonding
SOCIAL examples
influence
charitable
estate decisions
With new images or pure text (no significant difference)
Living bequest donor
life stories
E.g., “School janitor Lester
Holmes died in 1992”
becomes “School janitor
Lester Holmes signed his
will today”
Message
Give-Beq
Gap
Gap
50+
Gap
Male
Gap
Female
None 10.2 14.0 7.7 11.7
Spendthrift Heirs (Formal) 9.4 11.4 8.4 10.1
Social Norms (Formal) 8.8 11.7 7.5 9.7
Heirs + Social Norms 8.0 10.2 6.4 9.0
Deceased Beq. Stories 6.7 7.5 4.4 7.5
Living Bequest Stories 4.4 4.3 3.3 5.0
References to “important in
your life” increase interest
Interested
Now
40%
30%
12%
Will Never
Be
Interested
6%
7%
14%
2014 & 2015 Surveys, 1,822 Respondents
Make a gift to charity in your
will to support causes that
have been important in your
life
Make a gift to charity in your
will
Make a bequest gift to charity
“important in their lives”
increases power of social norm
Interested
Now
35%
31%
Will Never
Be
Interested
7%
9%
Nov 2014 Survey, 1363 Respondents
Many people like to leave a
gift to charity in their will
because they care about
causes that are important in
their lives. Are there any
causes you would support in
this way?
Many people like to leave a
gift to charity in their will. Are
there any causes you would
support in this way?
• Tell as many life stories of living
planned donors in as many places as
possible
• This helps to set a social norm by
example using appropriate language
Philanthropy is a SOCIAL act using the
mechanisms of FAMILY bonding
• START with the donor’s life story, not
the charity’s immediate need
• Ask about family connections to the
cause
• Share the option of honoring a family
member by making a tribute gift to
charity in the will
Philanthropy is a SOCIAL act using the
mechanisms of FAMILY bonding
Social
Desirability
Bias
Philanthropy is a SOCIAL act using the
mechanisms of FAMILY bonding
The motivational
effects of tax
benefits are clear
when measured
directly
People are unlikely
to report giving as
motivated by
personal benefits
like tax deductions
Interested
Now
50%
33%
31%
Will Never
Be
Interested
8%
14%
20%
2014 Survey, 1,904 Respondents, Groups D/E/F
Receive a tax
deduction and make a
gift that pays you
income for life.
Make a gift that pays you
income for life and
receive a tax deduction.
Make a gift that pays you
income for life.
Mentioning tax deductions
increases charitable interest
Interested
Now
26%
12%
11%
Will Never
Be
Interested
23%
33%
42%
2014 Survey, 1,826 Respondents, Groups F/B/D
Immediately receive a tax
deduction for 70% of the value
of a house or land by making a
charitable gift of the property, but
keeping the RIGHT TO USE it for the
rest of your life.
Make a charitable gift of either a house
or land, but keep the RIGHT TO USE for
the rest of your life and immediately
receive a tax deduction for 70%
of the value of the property.
Make a charitable gift of either a house
or land, but keep the RIGHT TO USE it
for the rest of your life.
Mentioning tax deductions
increases charitable interest
Interested
Now
28%
27%
21%
Will Never
Be
Interested
17%
20%
25%
2014 Survey, 1,782 Respondents, Groups E/A/C
Get an immediate tax deduction
by making a gift where you still control the
investment of the assets, and receive
income from the investments for the rest of
your life with anything left over going to
charity at your death.
Make a gift where you get an
immediate tax deduction, still
control the investment of the assets and
receive income from the investments for the
rest of your life with anything left over going
to charity at your death.
Make a gift where you still control the
investment of the assets, and receive income
from the investments for the rest of your life
with anything left over going to charity at
your death.
Mentioning tax deductions
increases charitable interest
Interested
Now
50%
31%
Will Never
Be
Interested
8%
20%
2014 Nov. Survey, 1,006 Respondents, Groups X/Y
Avoid capital gains tax
by making a gift of
stocks or bonds to a
charity.
Make a gift of stocks or
bonds to charity.
Mentioning tax avoidance
increases charitable interest
Philanthropy is a SOCIAL act using the
mechanisms of FAMILY bonding
Social Desirability Bias
It is good to note benefits,
but don’t identify personal
benefits as the motivation
People who join the
legacy society make a
“second gift” because
their example can
influence others to make
the same commitment.
People join the
legacy society so that
everyone will know
how philanthropic
they are.
Should you reference tax benefits?
How should you do so?
Avoid taxes by giving stocks
How to avoid taxes by giving
stocks
Save taxes by giving stocks
Tax tips when giving stocks
Avoiding capital gains taxes by
giving stocks
Giving stocks
I might
be/am
definitely
interested
__%
__%
__%
__%
__%
__%
Please rate your level of interest
in clicking on the button to read
the corresponding information.
Avoid taxes by giving stocks
How to avoid taxes by giving
stocks
Save taxes by giving stocks
Tax tips when giving stocks
Avoiding capital gains taxes by
giving stocks
Giving stocks
I might
be/am
definitely
interested
28%
27%
25%
24%
24%
16%
Please rate your level of interest
in clicking on the button to read
the corresponding information.
Age and
gender
differences
Difference in older (50+) v. all respondents
Questions
I Will
Never Be
Interested
Definitely
Interested
Now
All gift of cash +0.1% +2.4%
All bequest gift +8.5% +0.6%
All tribute bequest +10.1% -0.2%
All TOD +13.2% -0.2%
All donor advised fund +13.9% -0.2%
All gift of stocks/bonds +14.3% +0.0%
All retained life estate +15.9% -0.9%
All CGA +16.8% -2.3%
All CRT +25.2% -1.9%
A larger share of older adults are
decidedly resistant to bequest
giving and planned giving
Older adults are initially more resistant to
bequest giving but more responsive to
bequest marketing
0
2
4
6
8
10
12
14Give-BequestGap
All
50+
Older adults are initially
more resistant to
bequest giving but are
more responsive to
bequest giving marketing
{ { { {
{ {
{
{
}
Change in charitable bequest
intention for those with
family/friend connection
Total Age 50+
Memorial
reminder +13.97 +13.96
Living
reminder +9.22 +9.33
Older adults initially more resistant to
tribute bequest concept (survey #1) but more
responsive to tribute bequest reminder (#2)
Average share with family/friend
connections to each cause
Total Age 50+
Memorial
reminder 22.1% 27.1%
Living
reminder 34.2% 36.1%
Will Never Be Interested
All 50+
All tribute
bequest 20.3% 30.4%
All gift
of cash
All
bequest
gift
All
tribute
bequest
All TOD
All
donor
advised
fund
All gift
of
stocks/
bonds
All life
estate
All CGA All CRT
Female v Male 7.6% 0.5% 0.0% -1.8% -2.8% -4.2% -4.5% -4.9% -5.7%
-6.0%
-4.0%
-2.0%
0.0%
2.0%
4.0%
6.0%
8.0%
Female-MaleDifferencein
percentage"interestednow"
Women have relatively higher interest in
cash gifts, equal for bequest gifts, lower for
other planned giving
What
job titles
work best
for donors?
Who at the charity are you
more likely to contact?
• Gift of stock
• Real estate gift
• Charitable gift annuity
• Gift in a will
Would
never
contact
Very
unlikely
to contact
Somewhat
unlikely
to contact
Somewhat
likely
to contact
Very
likely
to contact
Would
definitely
contact
5,621 People Surveyed.
Each person chose from only 13 titles for
each scenario. Scenarios and titles were
rotated among ten different respondent
groups balancing alphabetical and
reverse alphabetical title order.
Chief Advancement Officer; Advancement
Development; Business Development; Campaign;
Charitable Estate Planning; Development; Donor
Development; Donations Consultant; Donor; Donor
Assistant; Donor Counselor; Donor Ombudsman; Donor
Relations; Estates; Executive; External Relations; Finance;
Financial; Financial Advisor for Donors; Fundraising; Gift
Planner; Gift Planning; Individual Giving; Institutional
Advancement; Leadership Gifts; Legacy Planning; Major
Gifts; Philanthropic Strategist; Planned Gifts; Planned
Giving; Real Estate Gifting; Resource Development; Special
Gifts; Stewardship
Director of Advancement; Advancement
Development; Advancement/Planned Giving; Annual
Giving; Charitable Estate Planning; Charitable Planning;
Complex Gifts; Development; Development & Marketing;
Donor Advising; Donor Assistance; Donor Development;
Donor Relations; Donor Guidance; Estate & Gift Planning;
Estates; Finance; Fundraising; Institutional Advancement &
Gift Planning; Institutional Advancement; Legacy Planning;
Major Gifts; Major Gifts & Legacy Planning; Personal
Philanthropy; Philanthropic Opportunities; Philanthropy;
Planned Gifts; Planned Gifts & Grants; Planned Giving;
Planned Giving & Estate Administration; Planned Giving &
Finance; Planned Giving Development; Resource
Development; Stewardship; Stewardship & Development;
Trusts & Estates; Trusts, Estates & Gift Planning
Tested
71 Titles
Suppose youreceive $100,000 incorporate stock
fromarelative. Youareconsidering gifting someof
thesesharestoalargecharity,butyouwanttodoit
inawaythatsavesthemosttaxes.
Whoatthecharity areyoumore
likelytocontact?
Best 10 Titles (of 66 tested)
1. (do)PlannedGiving&
Finance
2. (co)FinancialAdvisorfor
Donors
3. (do)DonorAdvising
4. (do)Institutional
Advancement&Gift
Planning
5. (do)Trusts,Estates&Gift
Planning
6. (co)DonorRelations
7. (do)Estate&GiftPlanning
8. (co)DonorOfficer
9. (do)DonorGuidance
10. (do)CharitablePlanning
Worst 10 Titles (of 66 tested)
1. (do)Advancement
2. (co)Advancement
3. (co)BusinessDevelopment
4. (co)RealEstateGifting
5. (do)Institutional
Advancement
6. (co)Institutional
Advancement
7. (co)Campaign
8. (do)Development
Marketing
9. (co)ExternalRelations
10.(do)Development
Gift of Stock
How big of a difference?
Gift of Stock
Would
Definitely
Contact
22%
18%
7%
Would
Never
Contact
7%
7%
25%
2014-2015 Survey, 2,151 Responses
Director of
Donor Advising
Chief Donor
Relations Officer
Director of
Advancement
Supposeyou own somerealestateand you
are thinkingaboutgivingpart ofittoa charity,
butyou wanttodoitin the rightway.
Whoat the charity are you morelikelyto
contact?
Best 10 Titles (of 68 tested)
1. (co)RealEstateGifting
2. (co)GiftPlanner
3. (do)Estate&GiftPlanning
4. (do)PlannedGiving&
EstateAdministration
5. (do)Trusts,Estates&Gift
Planning
6. (do)CharitableEstate
Planning
7. (co)Donor
8. (do)Trusts&Estates
9. (do)CharitableEstate
Planning
10. (co)DonorRelations
Worst 10 Titles (of 68 tested)
1. (do)Advancement
2. (do)Development&
Marketing
3. (co)Advancement
4. (do)Institutional
Advancement
5. (do)Development
6. (do)Advancement
Development
7. (co)BusinessDevelopment
8. (co)Executive
9. (co)ExternalRelations
10.(co)DonorOmbudsman
Gift of Real Estate
Youread in a
newspaperarticle
aboutaplan where
you can receiveatax
deductionandmake
a giftthatpaysyou
incomeforlife.
Whoat the charity
are you more likely
tocontacttoask
aboutthis?
Best 10 Titles (of 71 tested)
1. (co)FinancialAdvisorfor
Donors
2. (do)PlannedGiving&
Finance
3. (do)DonorAdvising
4. (do)PlannedGiving
5. (do)Trusts,Estates&Gift
Planning
6. (do)Advancement&
PlannedGiving
7. (do)PlannedGifts&Grants
8. (co)GiftPlanning
9. (co)IndividualGiving
10. (co)DonationsConsultant
Worst 10 Titles (of 71 tested)
1. (co)Campaign
2. (co)AdvancementDevelopment
3. (co)Advancement
4. (co)InstitutionalAdvancement
5. (do)InstitutionalAdvancement
6. (do)AdvancementDevelopment
7. (do)Advancement
8. (co)Development
9. (co)ResourceDevelopment
10.(do)Development&
Marketing
Charitable Gift Annuity
Supposeyou are getting
ready towritea new
will. Youare considering
includinga charity,but
you wanttousethe right
languageforthe gift.
Whoat the charityare
you morelikelyto
contact?
Best 10 Titles (of 70 tested)
1. (do)Trusts,Estates&Gift
Planning
2. (do)Estate&GiftPlanning
3. (do)PlannedGiving&
EstateAdministration
4. (do)DonorGuidance
5. (do)CharitableEstate
Planning
6. (do)LegacyPlanning
7. (do)DonorAdvising
8. (do)Trusts&Estates
9. (do)MajorGifts&Legacy
Planning
10. (co)GiftPlanning
Worst 10 Titles (of 70 tested)
1. (do)Development&
Marketing
2. (do)Institutional
Advancement
3. (do)Advancement
4. (co)BusinessDevelopment
5. (co)Advancement
6. (do)Development
7. (do)ResourceDevelopment
8. (co)Advancement
Development
9. (co)Institutional
Advancement
10.(co)Campaign
Charitable Will
Best 10 Titles (63 tested in all cases)
1. (do)Trusts,Estates&Gift
Planning
2. (co)FinancialAdvisorfor
Donors
3. (do)Estate&GiftPlanning
4. (do)PlannedGiving&
Finance
5. (do)DonorAdvising
6. (do)PlannedGiving&
EstateAdministration
7. (do)CharitableEstate
Planning
8. (co)GiftPlanner
9. (do)CharitablePlanning
10. (co)DonorGuidance
Worst 10 Titles (63 tested all cases)
1. (do)Advancement
2. (do)Institutional
Advancement
3. (co)Advancement
4. (do)Development&
Marketing
5. (co)BusinessDevelopment
6. (co)Institutional
Advancement
7. (co)Advancement
Development
8. (do)Development
9. (do)Advancement
Development
10.(co)ExternalRelations
All four scenarios combined.
Who at the charity are you more likely to contact?
Best 10 Titles (of 63 tested in all scenarios)
1. (do)Trusts,Estates&Gift
Planning
2. (do)Estate&GiftPlanning
3. (do)PlannedGiving&Finance
4. (do)CharitableEstatePlanning
5. (co)FinancialAdvisorfor
Donors
6. (do)PlannedGiving&Estate
Administration
7. (co)GiftPlanner
8. (co)CharitableEstatePlanning*
9. (co)PlannedGiving*
10. (do)PlannedGiving*
*notinoveralltop10
Worst 10 Titles (of 63 tested in all scenarios)
1. (do)Advancement
2. (do)InstitutionalAdvancement
3. (co)ExternalRelations
4. (co)Advancement
5. (co)InstitutionalAdvancement
6. (do)Development&Marketing
7. (do)Development
8. (co)ResourceDevelopment*
9. (do)AdvancementDevelopment
10. (co)AdvancementDevelopment
*notinoverallbottom10
Among Adults Age 50+
Best 10 Titles (of 63 tested in all scenarios)
1. (do)Trusts,Estates&Gift
Planning
2. (co)FinancialAdvisorfor
Donors
3. (do)Estate&GiftPlanning
4. (do)PlannedGiving&Finance
5. (do)DonorAdvising
6. (do)PlannedGiving&Estate
Administration
7. (do)CharitableEstatePlanning
8. (co)GiftPlanner
9. (co)DonorGuidance
10. (do)PlannedGiving
*notinoriginaltop10
Worst 10 Titles (of 63 tested in all scenarios)
1. (do)Advancement
2. (do)Development&Marketing
3. (do)InstitutionalAdvancement
4. (co)Advancement
5. (do)Development
6. (do)AdvancementDevelopment
7. (co)AdvancementDevelopment
8. (co)BusinessDevelopment
9. (co)InstitutionalAdvancement
10. (co)ExternalRelations
Among Women
Best 10 Titles (of 63 tested in all scenarios)
1. (do)Estate&GiftPlanning
2. (co)FinancialAdvisorfor
Donors
3. (do)PlannedGiving&Finance
4. ((do)Trusts,Estates&Gift
Planning
5. (do)PlannedGiving&Estate
Administration
6. (do)DonorAdvising
7. (do)CharitablePlanning
8. (co)DonationsConsultant*
9. (do)CharitableEstatePlanning
10. (co)MajorGifts&Legacy
Planning
Worst 10 Titles (of 63 tested in all scenarios)
1. (do)InstitutionalAdvancement
2. (do)Advancement
3. (co)Advancement
4. (do)Development&Marketing
5. (co)BusinessDevelopment
6. (co)InstitutionalAdvancement
7. (co)AdvancementDevelopment
8. (co)ExternalRelations
9. (do)Development
10. (co)Development
Among Men
*notinoveralltop10
Best 10 Titles (of 63 tested in all scenarios)
1. (co)FinancialAdvisorfor
Donors
2. (do)Trusts,Estates&Gift
Planning
3. (do)PlannedGiving&Finance
4. (do)Estate&GiftPlanning
5. (do)DonorAdvising
6. (do)PlannedGiving&Estate
Administration
7. (do)CharitablePlanning
8. (co)PlannedGiving*
9. (do)CharitableEstatePlanning
10. (co)PlannedGifts*
Worst 10 Titles (of 63 tested in all scenarios)
1. (co)Executive*
2. (co)Campaign*
3. (do)ResourceDevelopment*
4. (do)InstitutionalAdvancement
5. (do)Development&Marketing
6. (do)Advancement
7. (co)AdvancementDevelopment
8. (co)BusinessDevelopment
9. (co)Advancement
10. (co)InstitutionalAdvancement
Among Substantial Donors
$1,000 - $100,000 gifts
*notinoveralltop10
*notinoverallbottom10
Do we communicate with
donor language or insider
language?
• Use family words (stories and simple
words) not formal words
• Use social examples/norms
• Tell life stories of planned donors
• Talk about benefits – in the right way
• Ask about family connections to the
cause and give the option of a tribute
gift in the will
• Communicate obliquely (use non-
death-related packaging)
• Keep communicating to older donors
to be top of the mind at the point of
decision.
Philanthropy
as synthetic
family: a
SOCIAL act
using the
mechanisms
of FAMILY
bonding
Avoid death reminders
Previous findings
• People are less
interested in “make
a gift to charity in
my last will &
testament that
will take effect at
my death” than
when the final
phrase is removed.
• Stories of living
bequest donors are
more influential
than otherwise
identical stories of
deceased bequest
donors
New finding
Replacing “if
the annuity
holder lives
up to different
ages” with
“depending on the
age when the
annuity holder dies”
and “each year you
live” with “until you
die” reduces those
interested in
purchasing an annuity
from 36% to 26%.
Solving the annuity puzzle: The role of mortality
salience in retirement savings decumulation
decisions, Journal of Consumer Psychology,
26(3), 2016, 417-425 L. C. Salisbury & G. Y.
Nenkov
What about
other estate
giving
phrases?
“leave a legacy”
or “continue my
support”?
“Leave a legacy” not helpful
Interested
Now
22%
26%
Will Never
Be
Interested
14%
12%
2014 Survey, 1,072 Respondents, Group G-early/C
Leave a legacy gift to
charity in my last will &
testament
Make a gift to charity in
my last will & testament
“Remember your favorite
charities” not helpful
Interested
Now
27%
30%
Will Never
Be
Interested
10%
7%
2014 Fall Survey, 583 Respondents
Make a gift to charity in
your will to remember
your favorite charities
Make a gift to charity in
your will
“Continue my support” had
mildly negative results
2014-2015 Surveys, 2,135 Respondents, 1st,
Spring, 1090, 2nd Jan, 607, 3rd Fall, 438
Make a gift to
charity in my last will &
testament
Continue my support
of my favorite charities
through a gift in my last will
& testament
>
Make a gift to charity in your
will to support causes
that have been important in
your life.
Make a gift to charity in your will to
continue to support
causes that have been important in
your life.
>
Many people like to leave a gift to
charity in their will because they
want to continue to
support causes that are
important in their lives
Many people like to leave a gift
to charity in their will because
they care about causes
that are important in their lives
>
Any special
phrasing for bank
account or
retirement
account
transfer-on-death
beneficiary
designations?
2014 Survey, 2,214 Respondents, Groups G/H/D
Slight improvement with a
percentage option
Interested
Now
14.4%
14.0%
11.6%
Will Never
Be
Interested
24.1%
29.0%
25.6%
Make a gift by naming a charity as a
transfer-on-death beneficiary
for some percentage of a
bank account or retirement account.
Make a gift by naming a charity as a
transfer-on-death beneficiary
for 10% of a bank account or
retirement account.
Make a gift by naming a charity as a
transfer-on-death beneficiary on a
bank account or retirement account.
Interested
Now
12%
12%
Will Never
Be
Interested
26%
26%
2014 Survey, 1,246 Respondents, Groups D/E
Make a gift by naming a
charity as a transfer-on-death
beneficiary on a bank account
or retirement account.
Leave a gift by naming a
charity as a transfer-on-death
beneficiary on a bank account
or retirement account.
“Make a gift” or “Leave a gift”
no difference
Interested
Now
12%
9%
Will Never
Be
Interested
26%
31%
2014 Survey, 1,203 Respondents, Groups D/C
Make a gift by naming a
charity as a transfer-on-
death beneficiary on a
bank account or retirement
account.
Make a bequestgift by
naming a charity as a
beneficiary on a bank
account or retirement
account.
Don’t use “Bequest”
Words That Work
The phrases that encourage planned giving

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WORDS THAT WORK

  • 1. Words That Work Phrases that encourage major & planned gifts
  • 2. Results from 20 survey groups including over 14,000 total participants collected during 2013-2016 with one goal: To uncover the messages and phrases that work to encourage planned & major gifts
  • 3. Philanthropy as synthetic family Philanthropy is a SOCIAL act using the mechanisms of FAMILY bonding
  • 4. Philanthropy uses family bonding mechanisms • Charitable giving is rewarding (like receiving money) • But uniquely involves oxytocin-rich social attachment brain regions (used in maternal and romantic love) “donating to societal causes recruited two types of reward systems: the VTA–striatum mesolimbic network, which also was involved in pure monetary rewards, and the subgenual area, which was specific for donations and plays key roles in social attachment and affiliative reward mechanisms in humans and other animals.” Moll, et al (2006) PNAS 103(42), p. 156234.
  • 5. Increasing neuropeptide “oxytocin” – a family bonding hormone – increases giving 5 Zak, P. J., Stanton, A. A., & Ahmadi, S. (2007). Oxytocin increases generosity in humans. PLoS ONE, 11, e1128 Philanthropy uses family bonding mechanisms
  • 6. Human touch, when followed by a small gift, elevated oxytocin levels AND subsequent charitable giving 6 Morhenn, V. B., Park, J. W., Piper, E., Zak, P. J. (2008). Monetary sacrifice among strangers is mediated by endogenous oxytocin release after physical contact. Evolution and Human Behavior, 29, 375-383. Philanthropy uses family bonding mechanisms
  • 7. The strongest predictor of charitable bequest planning is childlessness 7 James, R. N., III. (2009). Health, wealth, and charitable estate planning: A longitudinal examination of testamentary charitable giving plans. Nonprofit and Voluntary Sector Quarterly, 38(6), 1026-1043. Charitable estate giving as “synthetic family”
  • 8. 8 Philanthropy is a “social act” Charitable giving generated greater activation in brain reward centers (ventral striatum) when observers were present Izuma, K., Saito, D. N., & Sadato, N. (2010). Processing of the Incentive for Social Approval in the Ventral Striatum during Charitable Donation. Journal of Cognitive Neuroscience, 22 (4), 621-631.
  • 9. Philanthropy as synthetic family Philanthropy is a SOCIAL act using the mechanisms of FAMILY bonding
  • 10. Build family-social relationships, not market-contract relationships Do you call? Do you write? Do you visit? Are you closer to extended family members who do these things?
  • 11. Family words (simple language and life stories) outperform formal words (technical, contract, market terms) Philanthropy is a SOCIAL act using the mechanisms of FAMILY bonding
  • 12. Market Realm (exchange) I engage in transactions by formal contract Social Realm (identity) I help people because of who I am Use family language Stories and simple words Avoid market language Formal, legal, or contract terms Would you say it in a normal conversation with your grandmother?
  • 13. Make a giftwhere you get an immediate tax deduction, still control the investment of the assets and receive income from the investments for the rest of your life with anything left over going to charity at your death. where you get an immediate tax deduction, still control the investment of the assets and receive income from the investments for the rest of your life with anything left over going to charity at your death. Make a transfer of assets Different groups rate their interest after receiving different descriptions Does it make much difference? Describing a CRT
  • 14. 14% 54% 32% 27% 53% 20% Interested now Not now, but in future Will never be interested Transfer GiftMakeagift where you get an immediate tax deduction, still control the investment of the assets and receive income from the investments for the rest of your life with anything left over going to charity at your death. where you get an immediate tax deduction, still control the investment of the assets and receive income from the investments for the rest of your life with anything left over going to charity at your death. Makeatransferofassets 2014 Survey (A/B) 1,101 Respondents
  • 15. Make a giftand in exchange receive a guaranteed lifetime income from the charity. and in exchange receive a guaranteed lifetime income from the charity. Enter into a contract with a charity where you transfer your cash or property Does it make much difference? Describing a CGA
  • 16. 13% 44% 44% 29% 48% 23% Interested now Not now, but in future Will never be interested Contract Gift Makeagiftand in exchange receive a guaranteed lifetime income from the charity receive a guaranteed lifetime income from the charity Enterintoacontractwithacharitywhereyou transferyourcashorpropertyand in exchange 2014 Survey (A/B) 1,101 Respondents
  • 17. Formal terms lower charitable interest Interested Now 36% 22% Will Never Be Interested 14% 23% 2014 Survey, 1,417 Respondents, Group F/G Get an immediate tax deduction and still receive income from your investments for the rest of your life by making a gift where you control the investment of the assets, but anything left over goes to charity at your death. Get an immediate tax deduction and still receive income from your investments for the rest of your life by making a gift using a “Charitable Remainder Trust” where you control the investment of the assets, but anything left over goes to charity at your death.
  • 18. Formal terms lower charitable interest Interested Now 50% 23% Will Never Be Interested 8% 19% 2014 Survey, 1,418 Respondents, Group F/G Receive a tax deduction and make a gift that pays you income for life Receive a tax deduction and make a gift that pays you income for life called a “Charitable Gift Annuity”
  • 19. Formal terms lower charitable interest Interested Now 26% 15% Will Never Be Interested 23% 30% 2014 Survey, 1,422 Respondents, Group F/G Immediately receive a tax deduction for 70% of the value of a house or land by making a charitable gift of the property, but keeping the right to use it for the rest of your life. Immediately receive a tax deduction for 70% of the value of a house or land by making a charitable gift of the property, using a “Remainder Interest Deed” but keeping the right to use it for the rest of your life.
  • 20. Interested Now 23% 12% Will Never Be Interested 12% 14% 2014 Survey, 1,246 Respondents, Groups D/E Make a gift to charity in my will Make a bequest gift to charity Formal terms lower charitable interest
  • 21. Drop in “Interested Now” with formal terms Phrase Women Men 50+ “bequest gift” -14.2% -7.3% -13.0% “Enter into a contract with a charity…” -19.2% -11.8% -9.7% “using a Remainder Interest Deed” -12.6% -9.3% -7.4% “called a Charitable Gift Annuity” -25.6% -26.9% -20.1% “using a Charitable Remainder Trust” -12.9% -14.7% -10.2% “Make a transfer of assets…” -12.0% -12.8% -4.9%
  • 22. New Research Questions How should you describe these in a way that people are most interested in learning more? • CGAs • General planned giving information • Bequest gifts • General estate planning • Tax benefits How should you describe them in a way that more people actually understand what you mean?
  • 23. How do you say “CGA” so that people will want to know more?
  • 24. Suppose you are viewing the website of a charity representing a cause that is important in your life. In addition to a “Donate Now” button, the following buttons appear on the website. Please rate your level of interest in clicking on the button to read the corresponding information. (1)I am definitely NOT interested (2)I don’t think I would be interested (3)I don’t know if I would be interested (4)I might be interested (5)I am definitely interested
  • 25. Charitable gift annuities Life income gifts Get a tax deduction and make a gift that pays you income for life Gifts that pay you income for life Gifts that pay you income I am definitely interested __% __% __% __% __% Survey #1: 2,550 respondents assigned to 5 different surveys
  • 26. I am definitely interested 5% 9% 26% 28% 29% Charitable gift annuities Life income gifts Get a tax deduction and make a gift that pays you income for life Gifts that pay you income for life Gifts that pay you income Survey #1: 2,550 respondents assigned to 5 different surveys
  • 27. Does this differ for people of different ages, or for people who make substantial donations to charity?
  • 28. Charitable gift annuities Life income gifts Get a tax deduction and make a gift that pays you income for life Gifts that pay you income for life Gifts that pay you income I am definitely interestedAll 5% 9% 26% 28% 29% 55+ 4% 11% 22% 25% 23% $1k+ 5% 10% 26% 27% 26% Group Differences Donor
  • 29. Survey #2 (2,750 respondents) Is there a better variation of “Gifts that pay you income”?
  • 30. Gifts that pay you income Gifts that pay you guaranteed income Gifts that pay you Gifts that pay you income and avoid taxes Gifts that pay I am definitely interested __% __% __% __% __% Survey #1: 2,750 respondents assigned to 5 different surveys
  • 31. Gifts that pay you income Gifts that pay you guaranteed income Gifts that pay you Gifts that pay you income and avoid taxes Gifts that pay I am definitely interested 30% 30% 29% 26% 24% Survey #1: 2,750 respondents assigned to 5 different surveys
  • 32. What does it mean? When you click on the phrase, what do you think you are going to see?
  • 33. Which of the following types of information would you expect when clicking on the button labeled "__[CGA Term]__" (1)I definitely did NOT expect this (2)I didn't really expect this (3)I don't know if I expected this or not (4)I guess I expected this (5)I definitely expected this “How to make a gift and, in return, receive lifetime income from the charity”
  • 34. Charitable gift annuities Life income gifts Gifts that pay you income Get a tax deduction and make a gift that pays you income for life Gifts that pay you income for life I definitely expected this __% __% __% __% __% “How to make a gift and, in return, receive lifetime income from the charity” Which of the following types of information would you expect when clicking on the button labeled "_______"
  • 35. Charitable gift annuities Life income gifts Gifts that pay you income Get a tax deduction and make a gift that pays you income for life Gifts that pay you income for life 15% 24% 30% 31% 34% “How to make a gift and, in return, receive lifetime income from the charity” I definitely expected this Which of the following types of information would you expect when clicking on the button labeled "_______"
  • 36. Charitable gift annuities Life income gifts Get a tax deduction and make a gift that pays you income for life Gifts that pay you income for life Gifts that pay you income I am definitely interested __% __% __% __% __% I definitely expected this __% __% __% __% __% “How to make a gift and, in return, receive lifetime income from the charity” Combined Results
  • 37. Charitable gift annuities Life income gifts Get a tax deduction and make a gift that pays you income for life Gifts that pay you income for life Gifts that pay you income I am definitely interested 5% 9% 26% 28% 30% I definitely expected this 15% 24% 31% 34% 30% “How to make a gift and, in return, receive lifetime income from the charity” Combined Results
  • 38. They have to be interested in finding out more What is the best “front door” phrase to get people to read about planned giving information? They have to expect to see planned giving information (i.e., not “bait and switch”)
  • 39. They have to be interested in finding out more Suppose you are viewing the website of a charity representing a cause that is important in your life. In addition to a “Donate Now” button, the following buttons appear on the website. Please rate your level of interest in clicking on the button to read the corresponding information. What is the best “front door” phrase to get people to read about planned giving information?
  • 40. Gift planning Planned giving Giving now & later Other ways to give Other ways to give smarter Other ways to give cheaper, easier, and smarter I am definitely interested __% __% __% __% __% __% Survey #1: 2,550 respondents
  • 41. Gift planning Planned giving Giving now & later Other ways to give Other ways to give smarter Other ways to give cheaper, easier, and smarter I am definitely interested 3% 4% 7% 16% 20% 23% Survey #1: 2,550 respondents
  • 42. Survey #2 (2,750 respondents) Is there a better way to phrase, “Other ways to give cheaper, easier, and smarter”?
  • 43. Other gifts More ways to give Give other ways How to give cheaper, easier, and smarter Other ways to give cheaper, easier and smarter I am definitely interested __% __% __% __% __% Survey #2: 2,750 respondents
  • 44. Other gifts More ways to give Give other ways How to give cheaper, easier, and smarter Other ways to give cheaper, easier and smarter I am definitely interested 8% 14% 15% 21% 22% Survey #2: 2,750 respondents
  • 45. What is the best “front door” phrase to get people to read about planned giving information? They have to expect to see planned giving information (i.e., not “bait and switch”)Which of the following types of information would you expect when clicking on the button labeled "_______"
  • 46. 1. make a gift of stocks 2. make a gift of bonds 3. make a gift of real estate 4. make a gift in your will 5. make a gift in your living trust 6. make a gift by naming a charity as death beneficiary of your life insurance policy 7. make a gift by naming a charity as death beneficiary of your IRA or retirement account 8. make a gift by naming a charity as death beneficiary of your bank account 9. make a gift and, in return, receive lifetime income from the charity 10.avoid capital gains taxes by making charitable gifts 11.avoid estate taxes by making charitable gifts 12.avoid income taxes by making charitable gifts Which of the following types of information would you expect when clicking on the button labeled "_______“? How to… 12 types of planned giving information
  • 47. Gift planning Planned giving Giving now & later Other ways to give Other ways to give smarter Other ways to give cheaper, easier, and smarter I definitely expected this __% __% __% __% __% __% Overall average for all 12 types of planned giving information
  • 48. Gift planning Planned giving Giving now & later Other ways to give Other ways to give smarter Other ways to give cheaper, easier, and smarter I definitely expected this 20% 12% 7% 15% 19% 12% Overall average for all 12 types of planned giving information
  • 49. Gift planning Planned giving Giving now & later Other ways to give Other ways to give smarter Other ways to give cheaper, easier, and smarter I am definitely interested 3% 4% 7% 16% 20% 23% I definitely expected this 20% 12% 7% 15% 19% 12% 12 types of PG info average Combined Results
  • 50. How should you say that you want to share information about making a gift in a will?
  • 51. Gifts in wills Gifts in a will Tax tips for gifts in a will How to make gifts in a will Gifts in your will Will planning Bequest gifts I might be/ am definitely interested __% __% __% __% __% __% __%
  • 52. Gifts in wills Gifts in a will Tax tips for gifts in a will How to make gifts in a will Gifts in your will Will planning Bequest gifts I might be/ am definitely interested 26% 26% 27% 27% 28% 28% 18%
  • 53. Interested Now 23% 12% Will Never Be Interested 12% 14% 2014 Survey, 1,246 Respondents, Groups D/E Make a gift to charity in my will Make a bequest gift to charity Previous finding (2014 survey)
  • 54. Interested Now 12% 9% Will Never Be Interested 26% 31% 2014 Survey, 1,203 Respondents, Groups D/C Make a gift by naming a charity as a transfer-on- death beneficiary on a bank account or retirement account. Make a bequestgift by naming a charity as a beneficiary on a bank account or retirement account. Don’t use “Bequest”
  • 56. Will planning Legacy planning Legacy giving Planning with trusts & estates Estate planning Estate giving I might be/ am definitely interested __% __% __% __% __% __%
  • 57. Will planning Legacy planning Legacy giving Planning with trusts & estates Estate planning Estate giving I might be/ am definitely interested 28% 18% 18% 17% 16% 14%
  • 58. Instead of a broad estate planning term, what about a long list of several terms?
  • 59. Gifts in wills Gifts in wills, trusts, or retirement accounts Gifts in wills, trusts, retirement accounts, or life insurance Gifts in wills & trusts I might be/ am definitely interested __% __% __% __%
  • 60. Gifts in wills Gifts in wills, trusts, or retirement accounts Gifts in wills, trusts, retirement accounts, or life insurance Gifts in wills & trusts I might be/ am definitely interested 26% 25% 24% 23%
  • 61. Do people expect to see a broad range of estate planning information? 1. How to make a gift in your will 2. How to make a gift in your living trust 3. How to make a gift by naming a charity as death beneficiary of your life insurance policy 4. How to make a gift by naming a charity as death beneficiary of your IRA or retirement account 5. How to make a gift by naming a charity as death beneficiary of your bank account
  • 62. 1. Make a gift in your will 2. Make a gift in your living trust 3. Make a gift by naming a charity as death beneficiary of your life insurance policy 4. Make a gift by naming a charity as death beneficiary of your IRA or retirement account 5. Make a gift by naming a charity as death beneficiary of your bank account Gifts in wills 82% 49% 51% 48% 52% Estate Planning 64% 53% 48% 46% 46% Gifts in wills, trusts, retirement accounts or life insurance 80% 76% 63% 59% 50% I definitely/ guess I expected this
  • 63. 1. Make a gift in your will 2. Make a gift in your living trust 3. Make a gift by naming a charity as death beneficiary of your life insurance policy 4. Make a gift by naming a charity as death beneficiary of your IRA or retirement account 5. Make a gift by naming a charity as death beneficiary of your bank account Gifts in wills 82% 49% 51% 48% 52% Estate Planning 64% 53% 48% 46% 46% Gifts in wills, trusts, retirement accounts or life insurance 80% 76% 63% 59% 50% I might be/am definitely interested26% 16% 24%
  • 64. Use family words (simple language and life stories) not formal words (technical, contract, market terms) Philanthropy is a SOCIAL act using the mechanisms of FAMILY bonding
  • 65. Philanthropy is a SOCIAL act using the mechanisms of FAMILY bonding SOCIAL examples influence charitable estate decisions
  • 66. 3,000 testators in the normal process of completing their wills were randomly assigned to one of three groups Many of our customers like to leave money to charity in their will. Are there any causes you’re passionate about? Would you like to leave any money to charity in your will? No reference to charity Cabinet Office Behavioural Insights Team (2013) Applying behavioural insights to charitable giving
  • 67. 5.0% 10.4% 15.4% Charitable bequests are influenced by a simple social example Charitable plans among 1,000 testators Charitable plans among 1,000 testators Charitable plans among 1,000 testators Many of our customers like to leave money to charity in their will. Are there any causes you’re passionate about? Would you like to leave any money to charity in your will? No reference to charity Cabinet Office Behavioural Insights Team (2013) Applying behavioural insights to charitable giving
  • 68. The social example also increased the average amount of bequest gifts Cabinet Office Behavioural Insights Team (2013) Applying behavioural insights to charitable giving $5,610 $5,291 $11,333 No ask Simple Ask Social Norm Using £1=$1.70 exchange rate Charitable plans among 1,000 testators Charitable plans among 1,000 testators Charitable plans among 1,000 testators
  • 69. The social norm increased charitable bequest intentions Interested Now 31% 23% 12% Will Never Be Interested 9% 12% 14% 2014 Survey, 2,369 Respondents, Groups D/E/LateG+H Many people like to leave a gift to charity in their will. Are there any causes you would support in this way? Make a gift to charity in my will Make a bequest gift to charity
  • 71. What “you” would do or what another donor has done? Please rate your interest in pursuing the above described charitable giving arrangement Interested Now Definitely/somewhat/slightly All: ____% 55+: ____% All: ____% 55+: ____%
  • 72. Please rate your interest in pursuing the above described charitable giving arrangement All: 38.6% 55+: 38.6% All: 33.5% 55+: 23.2% Interested Now Definitely/somewhat/slightly What “you” would do or what another donor has done?
  • 73. Text only or text and donor picture? All: ___% 55+: ___% All: ___% 55+: ___% Please rate your interest in pursuing the above described charitable giving arrangement: % Interested now (definitely/somewhat /slightly)
  • 74. Text only or text and donor picture? All: 38.6% 55+: 38.6% All: 31.1% 55+: 29.8% Please rate your interest in pursuing the above described charitable giving arrangement: % Interested now (definitely/somewhat /slightly)
  • 75. What’s the problem with the donor picture? Is it just this photo? This donor age? Is it photos in general or what?
  • 76. 55+ ___% ___% ___% Interested now (definitely/somewhat /slightly) 35-54 ___% ___% ___% U-35 ___% ___% ___%
  • 77. 55+ 24.4% 22.0% 41.1% Interested now (definitely/somewhat /slightly) 35-54 38.4% 47.4% 30.6% U-35 44.5% 32.6% 30.2%
  • 78. How do these compare with text only or a non-donor photo?
  • 80. Age matched donor pictures are OK Otherwise, use text only or a different picture
  • 81. Social norms are more powerful when the examples are like me You can support Golomolo by donating 20 Swedish crowns. 73% of Linnaeus University students who were asked for a contribution have donated 20 Swedish crowns to Golomolo. You can support Golomolo by donating 20 Swedish crowns. 73% of University students in Sweden who were asked for a contribution have donated 20 Swedish crowns to Golomolo. You can support Golomolo by donating 20 Swedish crowns. Agerström, J., Carlsson, R., Nicklasson, L., & Guntell, L. (2016). Using descriptive social norms to increase charitable giving: The power of local norms. Journal of Economic Psychology, 52, 147-153.
  • 82. Philanthropy is a SOCIAL act using the mechanisms of FAMILY bonding SOCIAL examples influence charitable estate decisions
  • 83. $3,000 $4,000 $5,000 $6,000 $7,000 $8,000 $9,000 Before -8 years Before -6 years Before -4 years Before -2 years Mixed After +2 years After +4 years After +6 years After +8 years AnnualCharitableGiving inConstant(InflationAdjusted)2012Dollars Giving Before and After Adding Charitable Beneficiary to Estate Plan9,439 observations from a nationally representative longitudinal study $7,381 average annual giving post-plan $4,210 average annual giving pre-plan +$3,171 average annual giving increase
  • 84. New Survey v. Instead of testing question wording, now testing impact of marketing messages for 40 national charities (4,560 participants)
  • 85. Baseline BEQ Give Amer Cancer Society 26.79 36.77 The Red Cross 25.93 41.12 ASPCA 24.18 33.77 Habitat for Humanity 24.01 34.90 Amer Heart Association 23.17 33.95 Natl Cancer Coalition 22.56 34.54 Breast Cancer Res Fnd 22.53 33.93 Natl Breast Cancer Fnd 22.43 33.48 The Amer Humane Assn 22.23 33.91 The Alzheimer's Found 21.40 32.00 Susan G. Komen Br Canc 21.39 29.22 Dana Farber Cancer Inst 21.13 29.63 American Diabetes Assn 20.84 32.54 World Wildlife Fund 20.82 29.08 Guide Dogs for the Blind 20.80 31.46 The Alzheimer's Assn 20.80 31.86 American Lung Assn 20.78 31.40 MD Anderson Cancer Cr 20.59 30.53 UNICEF 20.37 32.31 The Salvation Army 19.98 31.44 Baseline BEQ Give Wildlife Conserv Soc 19.90 29.26 Goodwill Industries 19.65 34.42 Big Brothrs/Big Sisters 19.47 30.49 The United Way 18.97 28.97 Joslin Diabetes Center 18.91 29.18 Canine Compan for In 18.90 29.67 Fnd Fightng Blindness 18.77 28.37 AIDS Project LA 17.71 25.64 Prevent Blindss Amer 17.51 28.32 San Fran AIDS Found 17.39 25.49 Nat Audubon Society 17.33 24.24 YMCA 17.16 28.12 Boys and Girls Clubs 17.14 30.10 Girl Scouts 16.71 31.27 YWCA 16.21 24.42 Amer Indian College F 15.97 22.33 CARE 15.86 24.69 Boy Scouts 14.51 23.56 United Negro Coll Fnd 14.13 21.90 Ducks Unlimited 13.60 19.49
  • 86. Other groups received messages after the current giving question to see if the bequest gap would shrink
  • 87. Social Norms Formal Evidence Information indicating that it is common for Americans to leave 5% or 10% to charity. Sharing survey results showing agreement with concept. Spendthrift Heirs Formal Evidence Statistics showing how rapidly heirs typically spend inheritance from published academic research Message Give- BEQ Gap Gap 50+ Gap Male Gap Female None 10.2 14.0 7.7 11.7 Spendthrift Heirs (Formal) 9.4 11.4 8.4 10.1 Social Norms (Formal) 8.8 11.7 7.5 9.7 Heirs + Social Norms 8.0 10.2 6.4 9.0
  • 88. Family words (simple language and LIFE STORIES) outperform formal words (technical, contract, market terms) Philanthropy is a SOCIAL act using the mechanisms of FAMILY bonding SOCIAL examples influence charitable estate decisions
  • 89. With new images or pure text (no significant difference) Living bequest donor life stories E.g., “School janitor Lester Holmes died in 1992” becomes “School janitor Lester Holmes signed his will today” Message Give-Beq Gap Gap 50+ Gap Male Gap Female None 10.2 14.0 7.7 11.7 Spendthrift Heirs (Formal) 9.4 11.4 8.4 10.1 Social Norms (Formal) 8.8 11.7 7.5 9.7 Heirs + Social Norms 8.0 10.2 6.4 9.0 Deceased Beq. Stories 6.7 7.5 4.4 7.5 Living Bequest Stories 4.4 4.3 3.3 5.0
  • 90. References to “important in your life” increase interest Interested Now 40% 30% 12% Will Never Be Interested 6% 7% 14% 2014 & 2015 Surveys, 1,822 Respondents Make a gift to charity in your will to support causes that have been important in your life Make a gift to charity in your will Make a bequest gift to charity
  • 91. “important in their lives” increases power of social norm Interested Now 35% 31% Will Never Be Interested 7% 9% Nov 2014 Survey, 1363 Respondents Many people like to leave a gift to charity in their will because they care about causes that are important in their lives. Are there any causes you would support in this way? Many people like to leave a gift to charity in their will. Are there any causes you would support in this way?
  • 92. • Tell as many life stories of living planned donors in as many places as possible • This helps to set a social norm by example using appropriate language Philanthropy is a SOCIAL act using the mechanisms of FAMILY bonding • START with the donor’s life story, not the charity’s immediate need
  • 93. • Ask about family connections to the cause • Share the option of honoring a family member by making a tribute gift to charity in the will Philanthropy is a SOCIAL act using the mechanisms of FAMILY bonding
  • 94. Social Desirability Bias Philanthropy is a SOCIAL act using the mechanisms of FAMILY bonding The motivational effects of tax benefits are clear when measured directly People are unlikely to report giving as motivated by personal benefits like tax deductions
  • 95. Interested Now 50% 33% 31% Will Never Be Interested 8% 14% 20% 2014 Survey, 1,904 Respondents, Groups D/E/F Receive a tax deduction and make a gift that pays you income for life. Make a gift that pays you income for life and receive a tax deduction. Make a gift that pays you income for life. Mentioning tax deductions increases charitable interest
  • 96. Interested Now 26% 12% 11% Will Never Be Interested 23% 33% 42% 2014 Survey, 1,826 Respondents, Groups F/B/D Immediately receive a tax deduction for 70% of the value of a house or land by making a charitable gift of the property, but keeping the RIGHT TO USE it for the rest of your life. Make a charitable gift of either a house or land, but keep the RIGHT TO USE for the rest of your life and immediately receive a tax deduction for 70% of the value of the property. Make a charitable gift of either a house or land, but keep the RIGHT TO USE it for the rest of your life. Mentioning tax deductions increases charitable interest
  • 97. Interested Now 28% 27% 21% Will Never Be Interested 17% 20% 25% 2014 Survey, 1,782 Respondents, Groups E/A/C Get an immediate tax deduction by making a gift where you still control the investment of the assets, and receive income from the investments for the rest of your life with anything left over going to charity at your death. Make a gift where you get an immediate tax deduction, still control the investment of the assets and receive income from the investments for the rest of your life with anything left over going to charity at your death. Make a gift where you still control the investment of the assets, and receive income from the investments for the rest of your life with anything left over going to charity at your death. Mentioning tax deductions increases charitable interest
  • 98. Interested Now 50% 31% Will Never Be Interested 8% 20% 2014 Nov. Survey, 1,006 Respondents, Groups X/Y Avoid capital gains tax by making a gift of stocks or bonds to a charity. Make a gift of stocks or bonds to charity. Mentioning tax avoidance increases charitable interest
  • 99. Philanthropy is a SOCIAL act using the mechanisms of FAMILY bonding Social Desirability Bias It is good to note benefits, but don’t identify personal benefits as the motivation People who join the legacy society make a “second gift” because their example can influence others to make the same commitment. People join the legacy society so that everyone will know how philanthropic they are.
  • 100. Should you reference tax benefits? How should you do so?
  • 101. Avoid taxes by giving stocks How to avoid taxes by giving stocks Save taxes by giving stocks Tax tips when giving stocks Avoiding capital gains taxes by giving stocks Giving stocks I might be/am definitely interested __% __% __% __% __% __% Please rate your level of interest in clicking on the button to read the corresponding information.
  • 102. Avoid taxes by giving stocks How to avoid taxes by giving stocks Save taxes by giving stocks Tax tips when giving stocks Avoiding capital gains taxes by giving stocks Giving stocks I might be/am definitely interested 28% 27% 25% 24% 24% 16% Please rate your level of interest in clicking on the button to read the corresponding information.
  • 104. Difference in older (50+) v. all respondents Questions I Will Never Be Interested Definitely Interested Now All gift of cash +0.1% +2.4% All bequest gift +8.5% +0.6% All tribute bequest +10.1% -0.2% All TOD +13.2% -0.2% All donor advised fund +13.9% -0.2% All gift of stocks/bonds +14.3% +0.0% All retained life estate +15.9% -0.9% All CGA +16.8% -2.3% All CRT +25.2% -1.9% A larger share of older adults are decidedly resistant to bequest giving and planned giving
  • 105. Older adults are initially more resistant to bequest giving but more responsive to bequest marketing
  • 106. 0 2 4 6 8 10 12 14Give-BequestGap All 50+ Older adults are initially more resistant to bequest giving but are more responsive to bequest giving marketing { { { { { { { { }
  • 107. Change in charitable bequest intention for those with family/friend connection Total Age 50+ Memorial reminder +13.97 +13.96 Living reminder +9.22 +9.33 Older adults initially more resistant to tribute bequest concept (survey #1) but more responsive to tribute bequest reminder (#2) Average share with family/friend connections to each cause Total Age 50+ Memorial reminder 22.1% 27.1% Living reminder 34.2% 36.1% Will Never Be Interested All 50+ All tribute bequest 20.3% 30.4%
  • 108. All gift of cash All bequest gift All tribute bequest All TOD All donor advised fund All gift of stocks/ bonds All life estate All CGA All CRT Female v Male 7.6% 0.5% 0.0% -1.8% -2.8% -4.2% -4.5% -4.9% -5.7% -6.0% -4.0% -2.0% 0.0% 2.0% 4.0% 6.0% 8.0% Female-MaleDifferencein percentage"interestednow" Women have relatively higher interest in cash gifts, equal for bequest gifts, lower for other planned giving
  • 110. Who at the charity are you more likely to contact? • Gift of stock • Real estate gift • Charitable gift annuity • Gift in a will Would never contact Very unlikely to contact Somewhat unlikely to contact Somewhat likely to contact Very likely to contact Would definitely contact 5,621 People Surveyed. Each person chose from only 13 titles for each scenario. Scenarios and titles were rotated among ten different respondent groups balancing alphabetical and reverse alphabetical title order.
  • 111. Chief Advancement Officer; Advancement Development; Business Development; Campaign; Charitable Estate Planning; Development; Donor Development; Donations Consultant; Donor; Donor Assistant; Donor Counselor; Donor Ombudsman; Donor Relations; Estates; Executive; External Relations; Finance; Financial; Financial Advisor for Donors; Fundraising; Gift Planner; Gift Planning; Individual Giving; Institutional Advancement; Leadership Gifts; Legacy Planning; Major Gifts; Philanthropic Strategist; Planned Gifts; Planned Giving; Real Estate Gifting; Resource Development; Special Gifts; Stewardship Director of Advancement; Advancement Development; Advancement/Planned Giving; Annual Giving; Charitable Estate Planning; Charitable Planning; Complex Gifts; Development; Development & Marketing; Donor Advising; Donor Assistance; Donor Development; Donor Relations; Donor Guidance; Estate & Gift Planning; Estates; Finance; Fundraising; Institutional Advancement & Gift Planning; Institutional Advancement; Legacy Planning; Major Gifts; Major Gifts & Legacy Planning; Personal Philanthropy; Philanthropic Opportunities; Philanthropy; Planned Gifts; Planned Gifts & Grants; Planned Giving; Planned Giving & Estate Administration; Planned Giving & Finance; Planned Giving Development; Resource Development; Stewardship; Stewardship & Development; Trusts & Estates; Trusts, Estates & Gift Planning Tested 71 Titles
  • 112. Suppose youreceive $100,000 incorporate stock fromarelative. Youareconsidering gifting someof thesesharestoalargecharity,butyouwanttodoit inawaythatsavesthemosttaxes. Whoatthecharity areyoumore likelytocontact?
  • 113. Best 10 Titles (of 66 tested) 1. (do)PlannedGiving& Finance 2. (co)FinancialAdvisorfor Donors 3. (do)DonorAdvising 4. (do)Institutional Advancement&Gift Planning 5. (do)Trusts,Estates&Gift Planning 6. (co)DonorRelations 7. (do)Estate&GiftPlanning 8. (co)DonorOfficer 9. (do)DonorGuidance 10. (do)CharitablePlanning Worst 10 Titles (of 66 tested) 1. (do)Advancement 2. (co)Advancement 3. (co)BusinessDevelopment 4. (co)RealEstateGifting 5. (do)Institutional Advancement 6. (co)Institutional Advancement 7. (co)Campaign 8. (do)Development Marketing 9. (co)ExternalRelations 10.(do)Development Gift of Stock
  • 114. How big of a difference? Gift of Stock Would Definitely Contact 22% 18% 7% Would Never Contact 7% 7% 25% 2014-2015 Survey, 2,151 Responses Director of Donor Advising Chief Donor Relations Officer Director of Advancement
  • 115. Supposeyou own somerealestateand you are thinkingaboutgivingpart ofittoa charity, butyou wanttodoitin the rightway. Whoat the charity are you morelikelyto contact?
  • 116. Best 10 Titles (of 68 tested) 1. (co)RealEstateGifting 2. (co)GiftPlanner 3. (do)Estate&GiftPlanning 4. (do)PlannedGiving& EstateAdministration 5. (do)Trusts,Estates&Gift Planning 6. (do)CharitableEstate Planning 7. (co)Donor 8. (do)Trusts&Estates 9. (do)CharitableEstate Planning 10. (co)DonorRelations Worst 10 Titles (of 68 tested) 1. (do)Advancement 2. (do)Development& Marketing 3. (co)Advancement 4. (do)Institutional Advancement 5. (do)Development 6. (do)Advancement Development 7. (co)BusinessDevelopment 8. (co)Executive 9. (co)ExternalRelations 10.(co)DonorOmbudsman Gift of Real Estate
  • 117. Youread in a newspaperarticle aboutaplan where you can receiveatax deductionandmake a giftthatpaysyou incomeforlife. Whoat the charity are you more likely tocontacttoask aboutthis?
  • 118. Best 10 Titles (of 71 tested) 1. (co)FinancialAdvisorfor Donors 2. (do)PlannedGiving& Finance 3. (do)DonorAdvising 4. (do)PlannedGiving 5. (do)Trusts,Estates&Gift Planning 6. (do)Advancement& PlannedGiving 7. (do)PlannedGifts&Grants 8. (co)GiftPlanning 9. (co)IndividualGiving 10. (co)DonationsConsultant Worst 10 Titles (of 71 tested) 1. (co)Campaign 2. (co)AdvancementDevelopment 3. (co)Advancement 4. (co)InstitutionalAdvancement 5. (do)InstitutionalAdvancement 6. (do)AdvancementDevelopment 7. (do)Advancement 8. (co)Development 9. (co)ResourceDevelopment 10.(do)Development& Marketing Charitable Gift Annuity
  • 119. Supposeyou are getting ready towritea new will. Youare considering includinga charity,but you wanttousethe right languageforthe gift. Whoat the charityare you morelikelyto contact?
  • 120. Best 10 Titles (of 70 tested) 1. (do)Trusts,Estates&Gift Planning 2. (do)Estate&GiftPlanning 3. (do)PlannedGiving& EstateAdministration 4. (do)DonorGuidance 5. (do)CharitableEstate Planning 6. (do)LegacyPlanning 7. (do)DonorAdvising 8. (do)Trusts&Estates 9. (do)MajorGifts&Legacy Planning 10. (co)GiftPlanning Worst 10 Titles (of 70 tested) 1. (do)Development& Marketing 2. (do)Institutional Advancement 3. (do)Advancement 4. (co)BusinessDevelopment 5. (co)Advancement 6. (do)Development 7. (do)ResourceDevelopment 8. (co)Advancement Development 9. (co)Institutional Advancement 10.(co)Campaign Charitable Will
  • 121. Best 10 Titles (63 tested in all cases) 1. (do)Trusts,Estates&Gift Planning 2. (co)FinancialAdvisorfor Donors 3. (do)Estate&GiftPlanning 4. (do)PlannedGiving& Finance 5. (do)DonorAdvising 6. (do)PlannedGiving& EstateAdministration 7. (do)CharitableEstate Planning 8. (co)GiftPlanner 9. (do)CharitablePlanning 10. (co)DonorGuidance Worst 10 Titles (63 tested all cases) 1. (do)Advancement 2. (do)Institutional Advancement 3. (co)Advancement 4. (do)Development& Marketing 5. (co)BusinessDevelopment 6. (co)Institutional Advancement 7. (co)Advancement Development 8. (do)Development 9. (do)Advancement Development 10.(co)ExternalRelations All four scenarios combined. Who at the charity are you more likely to contact?
  • 122. Best 10 Titles (of 63 tested in all scenarios) 1. (do)Trusts,Estates&Gift Planning 2. (do)Estate&GiftPlanning 3. (do)PlannedGiving&Finance 4. (do)CharitableEstatePlanning 5. (co)FinancialAdvisorfor Donors 6. (do)PlannedGiving&Estate Administration 7. (co)GiftPlanner 8. (co)CharitableEstatePlanning* 9. (co)PlannedGiving* 10. (do)PlannedGiving* *notinoveralltop10 Worst 10 Titles (of 63 tested in all scenarios) 1. (do)Advancement 2. (do)InstitutionalAdvancement 3. (co)ExternalRelations 4. (co)Advancement 5. (co)InstitutionalAdvancement 6. (do)Development&Marketing 7. (do)Development 8. (co)ResourceDevelopment* 9. (do)AdvancementDevelopment 10. (co)AdvancementDevelopment *notinoverallbottom10 Among Adults Age 50+
  • 123. Best 10 Titles (of 63 tested in all scenarios) 1. (do)Trusts,Estates&Gift Planning 2. (co)FinancialAdvisorfor Donors 3. (do)Estate&GiftPlanning 4. (do)PlannedGiving&Finance 5. (do)DonorAdvising 6. (do)PlannedGiving&Estate Administration 7. (do)CharitableEstatePlanning 8. (co)GiftPlanner 9. (co)DonorGuidance 10. (do)PlannedGiving *notinoriginaltop10 Worst 10 Titles (of 63 tested in all scenarios) 1. (do)Advancement 2. (do)Development&Marketing 3. (do)InstitutionalAdvancement 4. (co)Advancement 5. (do)Development 6. (do)AdvancementDevelopment 7. (co)AdvancementDevelopment 8. (co)BusinessDevelopment 9. (co)InstitutionalAdvancement 10. (co)ExternalRelations Among Women
  • 124. Best 10 Titles (of 63 tested in all scenarios) 1. (do)Estate&GiftPlanning 2. (co)FinancialAdvisorfor Donors 3. (do)PlannedGiving&Finance 4. ((do)Trusts,Estates&Gift Planning 5. (do)PlannedGiving&Estate Administration 6. (do)DonorAdvising 7. (do)CharitablePlanning 8. (co)DonationsConsultant* 9. (do)CharitableEstatePlanning 10. (co)MajorGifts&Legacy Planning Worst 10 Titles (of 63 tested in all scenarios) 1. (do)InstitutionalAdvancement 2. (do)Advancement 3. (co)Advancement 4. (do)Development&Marketing 5. (co)BusinessDevelopment 6. (co)InstitutionalAdvancement 7. (co)AdvancementDevelopment 8. (co)ExternalRelations 9. (do)Development 10. (co)Development Among Men *notinoveralltop10
  • 125. Best 10 Titles (of 63 tested in all scenarios) 1. (co)FinancialAdvisorfor Donors 2. (do)Trusts,Estates&Gift Planning 3. (do)PlannedGiving&Finance 4. (do)Estate&GiftPlanning 5. (do)DonorAdvising 6. (do)PlannedGiving&Estate Administration 7. (do)CharitablePlanning 8. (co)PlannedGiving* 9. (do)CharitableEstatePlanning 10. (co)PlannedGifts* Worst 10 Titles (of 63 tested in all scenarios) 1. (co)Executive* 2. (co)Campaign* 3. (do)ResourceDevelopment* 4. (do)InstitutionalAdvancement 5. (do)Development&Marketing 6. (do)Advancement 7. (co)AdvancementDevelopment 8. (co)BusinessDevelopment 9. (co)Advancement 10. (co)InstitutionalAdvancement Among Substantial Donors $1,000 - $100,000 gifts *notinoveralltop10 *notinoverallbottom10
  • 126. Do we communicate with donor language or insider language?
  • 127. • Use family words (stories and simple words) not formal words • Use social examples/norms • Tell life stories of planned donors • Talk about benefits – in the right way • Ask about family connections to the cause and give the option of a tribute gift in the will • Communicate obliquely (use non- death-related packaging) • Keep communicating to older donors to be top of the mind at the point of decision. Philanthropy as synthetic family: a SOCIAL act using the mechanisms of FAMILY bonding
  • 128. Avoid death reminders Previous findings • People are less interested in “make a gift to charity in my last will & testament that will take effect at my death” than when the final phrase is removed. • Stories of living bequest donors are more influential than otherwise identical stories of deceased bequest donors New finding Replacing “if the annuity holder lives up to different ages” with “depending on the age when the annuity holder dies” and “each year you live” with “until you die” reduces those interested in purchasing an annuity from 36% to 26%. Solving the annuity puzzle: The role of mortality salience in retirement savings decumulation decisions, Journal of Consumer Psychology, 26(3), 2016, 417-425 L. C. Salisbury & G. Y. Nenkov
  • 129. What about other estate giving phrases? “leave a legacy” or “continue my support”?
  • 130. “Leave a legacy” not helpful Interested Now 22% 26% Will Never Be Interested 14% 12% 2014 Survey, 1,072 Respondents, Group G-early/C Leave a legacy gift to charity in my last will & testament Make a gift to charity in my last will & testament
  • 131. “Remember your favorite charities” not helpful Interested Now 27% 30% Will Never Be Interested 10% 7% 2014 Fall Survey, 583 Respondents Make a gift to charity in your will to remember your favorite charities Make a gift to charity in your will
  • 132. “Continue my support” had mildly negative results 2014-2015 Surveys, 2,135 Respondents, 1st, Spring, 1090, 2nd Jan, 607, 3rd Fall, 438 Make a gift to charity in my last will & testament Continue my support of my favorite charities through a gift in my last will & testament > Make a gift to charity in your will to support causes that have been important in your life. Make a gift to charity in your will to continue to support causes that have been important in your life. > Many people like to leave a gift to charity in their will because they want to continue to support causes that are important in their lives Many people like to leave a gift to charity in their will because they care about causes that are important in their lives >
  • 133. Any special phrasing for bank account or retirement account transfer-on-death beneficiary designations?
  • 134. 2014 Survey, 2,214 Respondents, Groups G/H/D Slight improvement with a percentage option Interested Now 14.4% 14.0% 11.6% Will Never Be Interested 24.1% 29.0% 25.6% Make a gift by naming a charity as a transfer-on-death beneficiary for some percentage of a bank account or retirement account. Make a gift by naming a charity as a transfer-on-death beneficiary for 10% of a bank account or retirement account. Make a gift by naming a charity as a transfer-on-death beneficiary on a bank account or retirement account.
  • 135. Interested Now 12% 12% Will Never Be Interested 26% 26% 2014 Survey, 1,246 Respondents, Groups D/E Make a gift by naming a charity as a transfer-on-death beneficiary on a bank account or retirement account. Leave a gift by naming a charity as a transfer-on-death beneficiary on a bank account or retirement account. “Make a gift” or “Leave a gift” no difference
  • 136. Interested Now 12% 9% Will Never Be Interested 26% 31% 2014 Survey, 1,203 Respondents, Groups D/C Make a gift by naming a charity as a transfer-on- death beneficiary on a bank account or retirement account. Make a bequestgift by naming a charity as a beneficiary on a bank account or retirement account. Don’t use “Bequest”
  • 137. Words That Work The phrases that encourage planned giving

Editor's Notes

  1. Charitable giving appears to be a substitute for giving to family members when you don’t have them nearby.