Planned giving involves major gifts made by donors through their estate planning, such as real estate, life insurance, or retirement plans, that allow donors to make larger gifts than possible through regular donations alone. It is a highly effective but misunderstood approach for non-profits to pursue. Planned giving establishes stronger long-term relationships with donors and can increase both annual and future planned gifts. Non-profits should treat fundraising like running a business with both immediate and long-term goals in mind. Approaching donors about planned giving requires patience but can result in gifts 200-300 times larger than a donor's typical donation.