What's your plan? Implementing a legacy donor program (#HAISlegacy)
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Presentation to Houston Association of Independent Schools on June 11, 2015 on implementing a planned giving/legacy donor program
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What's your plan? Implementing a legacy donor program (#HAISlegacy)
- 1. What’s your plan? Implementing a legacy donor program Lisa M. Chmiola, CFRE HAIS – June 11, 2015 @houdatlisa #HAISlegacy
- 4. 11223344
- 5. FAMILY FEUD FAMILY FEUD FAMILY FEUD FAMILY FEUD FAMILY FEU FAMILY FEUD FAMILY FEUD FAMILY FEUD FAMILY FEUD FAMILY FE
- 6. 2424 2020 1717 1414 1111 77 55 22 Donor Base Board Support Strategic Plan Gift Acceptance Policy Staffing Communication Plan History Patience CheerCheer SilenceSilenceLoseLoseWinWin BooBoo
- 7. Prospecting • Existing legacy donors – Why did they give? – Who else do they know? • Loyal donors/Volunteer leadership – Why do they give? – Have they thought about continuing this beyond their lifetime? • Younger donors – Retirement/insurance beneficiaries – “They haven’t asked (me).” • YOU!
- 8. Documentation • When possible, document donor gifts – Confirms their wishes – Gives permission to be listed • What to include – Contact information – Gift type & current value – Gift designation – Option for anonymity
- 10. Documentation • Additional file materials can include – Copies of will/trust, beneficiary designations, insurance policies – Endowment agreements – Correspondence with donor(s) • Storage – Fireproof – Electronic (back up!) – Access
- 11. Objections “But I plan to leave funds to my family.” “I don’t have a large amount of assets.” “I don’t want the publicity.”
- 12. Communications Plan • How? • Inquiry response plan? • Process for realized gifts?
- 15. Stewardship • Visits • Communication – Mailings – Emails – Social Media • Events • Volunteer Engagement How else are you stewarding donors?
- 16. Discussion • What is the biggest challenge you face when it comes to planned giving? • What is the first step you are going to take in your organization to move your program forward?
- 17. Additional Resources • Professional Associations/Conferences – Association of Fundraising Professionals – Planned Giving Council of Houston – Partnership for Philanthropic Planning • PG Marketing Vendors (webinars & workshops) • Dr. Russell James’ research – Book: Visual Planned Giving • Networking with colleagues
Editor's Notes
- Who has/is starting program? Program formed in late 1980s with formation of our endowment; Rebranded with Centennial campaign around 2006 I’m first staff w dedicated PG duties. Started with 46 members, now 68 (48% increase) Tweets will share resources.
- Why are we afraid of planned giving? Who in the room does PG? And how do people react to that? Everyone dies, no one wants to think about it! Russell James research on psychology.
- Instead of dying, PG offers a chance to live on in our legacy. PG is different from other kinds of fundraising. Donor won’t be there to see the impact, and you hope to not receive the gift for a long time. Critical to process is relationship building, painting a vision, and building trust in your org. Before we get started, let’s go over the building blocks of what you need in your org for a successful PG program.
- Family Feud Template Introduction Slide – The Countdown!
- Family Feud Template Introduction Slide – Family Feud!
- Donor Base-solid base of annual support, beginning move into major gifts as well. Board Support-critical to have support from top down Strategic Plan-where is your organization going? Will it still be around when these gifts come in? GA Policy-What kind of gifts will you accept? Are you set up for these? Endowments, annuities etc. Staffing-who on team to handle? Dedicated person? Consultant? Comm Plan-particularly for the organization. Will talk about one for PG later today. History-need at least 10 years of org history. Again, need to prove you’ll be around. Patience-PG can take 7-10 years to show fruits of efforts. Can take years to secure commitments. Hang in there!
- Search your database, files etc. Part of what I did when started was sift through old files and determine who needed to be added to the list. Stewardship is key, they can take you out of the gift anytime if revocable! Remember that board who supported your program? They should be first on your list to visit! Also look at 10+ yr donors, donors who wish a project to continue. Don’t discount younger professionals. It’s never too early to have a plan in place. If they die without a plan, it just goes to their parents if not married/no kids. 43% millennial alums on why haven’t helped alma mater-Millennial Alumni Study YOU-easier to secure gifts when made own
- Often long time between notification and realization. Documentation helps, especially in contentious estates. Major donors have opp to restrict their gift, why wouldn’t you want feedback from donor on what they want ultimate gift to do? And if they want org to decide that’s fine, but at least y ou know. Value-we use to determine if EFA needed.
- Of course! Many donors make plans for their family first, but still choose to leave a small amount to organizations they love and supported in lifetime. Gifts of all amounts welcome; participation emphasis. You may remain anonymous.
- Determine what is the right mix: Mail, email, online. How are you communicating now? How can you integrate into existing materials? Will you do yourself or hire a vendor? Who will handle inquiries? What will your follow up be? What happens when a will shows up? Talk about procedures we developed.
- Several responses and a $15k notification
- Example of an ad in our magazine. It will direct them to a story online and we will track the clicks.
- Visits-see them at least once a year to see how they are doing and keep them connected Mailings-are they on all your lists? Newsletters etc? Email lists? If they are on social media, encourage them to connect. You want them to stay informed! Events-be sure you are inviting them to important school events. But also look into a stewardship event for them too. Volunteer-invite them to serve on committees, boards or just help with special projects