Getting Started in Planned Giving: Developing a Program on a Budget

Transcription

1 Getting Started in Planned Giving: Developing a Program on a Budget Raising Funds for Your Organization s Future: Part III of A Series of Webinars about Planned Giving Sponsored by DC Bar Pro Bono Program Presented by Joseph M. Gillmer, CFRE, CSPG Vice President CCS Fundraising Co., LLC May 25,

2 Objectives Ninety second recap of Part I & II Discuss the steps to launching a planned giving program Note: The ideas and suggestions are scalable from no budget to substantial investments Secure additional planned giving resources 2

3 Parts I & II In 90 Seconds Bequest Charitable Gift Annuity IRA Roll over Life Insurance Life Estate Bargain Sale Pooled Income Fund Charitable Remainder Trust Charitable Lead Trust Private Foundation* Donor Advised Fund* *Special vehicles for distributing gifts 3

4 What s possible through a planned giving program? # of Records x 30% / 2 = # of potential donors # of Potential Donors x $30,000 average gift / 40 = Potential on an annual basis Example: 10,000 records 10, x 30% / 2 = 1,500 x $30, / 40 = $1,125,000 potential This just bequest potential! Original Source for formula: Michael J. Rosen, CFRE

5 How do I get started? Before launching a program, every development office should Secure internal champions Assess potential Seek out Education/Training/Mentor Assess current PG status Assess organizational appetite Prepare and pitch a case for planned giving

6 What goes into a program? We ll be spending the remainder of the class discussing the following scalable planned giving program elements: Goals and expectations Policies/Procedures/Tracking Leadership and Staff Roles Prospecting Planned giving committee and professional advisors Marketing/Promotion Donor Stewardship & Recognition Program evaluation (1 year)

7 Goals and Expectations Financial (cash and deferred) Contacts t Activities Planned Giving Vehicles Managing Expectations 7

8 The Necessary Evils Gift Acceptance and Donor Recognition Policies Staff & Volunteer Solicitation Coordination Counting and Valuing Gifts Tracking Charts Budget Gift Administration Cover your bases you ll be glad you did later! 8

9 Roles oesof Leaders You should develop simple roles in the planned giving program for your key leaders CEO/President Board Staff Key Leaders 9

10 Prospecting Check your database against statistics of giving in the planned giving ii vehicles you want to pursue Existing planned gifts in place? Where did they come from? Use of Analytics Research 10

11 Planned edgiving gcommittee What is the role of the committee? Help with developing/reviewing plan Help with developing or vetting gift acceptance policies Assist with program promotion, advocacy & solicitation Attributes of a Chair Long history with organization Served on board or other leadership capacity in the past Benefitted from the organization Strongly believes in planned giving Composition of Committee (5 8) Community leaders active in social or professional circles (2 3) Financial and legal (1 2) Marketing orpublic relations (1) Member of the board (1) 11

12 Professional o Advisors s What type of volunteer professional advisors do you want? Types of professionals Certified Public Accountants Certified Financial Planners Estate Planning Attorneys Savvy donor/volunteers Watch for conflicts of interest! Life Insurance Agents The donor s interests t come first! 12

13 Marketing, Promotion and Donor Stewardship 13

14 Marketing: State your Case What is a case for support? Base document used to develop Solicitation materials Cover letters Marketing materials Information for articles, etc Elements of a case for support 14

15 Marketing on the Cheap Please remember us in your will and trusts 8 little words that can make all the difference in the world! Place them on your Letterheadh d Business Cards address signature E News Updates Newsletters and other promotional materials Brochures Programs, Conferences Website Display advertisement in high traffic areas around you Monthly y reports to donors 15

16 More Cheap Marketing Most people hate writing and most communications departments or local newspapers are scrambling for content you t are much more likely l to get free marketing and/or advertising if you re willing to put pen to paper or finger to key! Write articles about latest news, exciting ways for donors to make an impact Utilize appeals, blogs, social media Develop donor spotlights and profiles Prepare elevator speeches for leaders and volunteers 16

17 Pi B ki Piggy Backing Combine with annual appeals Combine with annual appeals Leverage staff on major gift visits Goody bag stuffer at events PPT background at events b k d Advertisement in a program at an event Use word of mouth from trusted sources Spotlight legacy donors through signage at events 17

18 Another Way to Piggy Back Many organizations are chapters, parishes or groups that are part of a larger regional or national organization. Even those groups that are stand alone have community foundations nearby. Take advantage of piggy backing on their resources to help your program! Turn key marketing materials Administration ofgifts Advice and expertise 18

19 Marketing with some cost Special planned giving cards or business reply envelopes Planned giving stuffer with other existing mailings Special or periodic targeted direct mail Ordering special tri fold brochures Estate planning seminars/luncheons 19

20 Legacy Society Most Legacy societies only require someone putting the non profit in their will and letting them know about it! You can advertise membership and include benefits such as: Public acknowledgement of their extraordinary support in your communications vehicles Special certificate or plaque Annual reception or dinner Annual Report Legacy Donor Wall that can be expanded Remember, a bequest is often the largest, most powerful gift a donor will ever make a little recognition and donor stewardship is the least we can do!

21 You can t thank them enough Donor Stewardship is critical for all types of donor support especially with planned gifts. Make sure you are Making regular thankyoucalls Making room in your calendar for on going personal visits Sending thank you letters Sharing plans for use of legacy gift

22 Program Evaluation Contacts & Activities Direct mail Electronic Peer to Peer Other donors Development meeting Look at what was most effective in generating interest! Gifts Executed Restricted Bequests Unrestricted Bequests Life Insurance IRA Rollover CGAS CRTs/CLTs Other Look at costs to execute and steward gifts Gifts Received Restricted Bequests Unrestricted Bequests Life Insurance IRA Rollover CGAS CRTs/CLTs Other Track cash amounts year to year a consistent program will start to produce consistent results. Evaluating your program will give you the opportunity to show your leadership the value of investing in planned giving and help you learn best practices. If you can accomplish X from just bequests, life insurance and IRAs, what is possible when you invest in the program and accept real estate and life income gifts? 22

23 Educational Resources Join Industry Associations Participate in local, regional and national conferences and roundtables Enroll in specialized philanthropy programs Read periodicals Find a mentor Feel free to ask dumb questions and copy successful approaches! 23

24 Additional Resources Please take the time to complete the evaluation survey Resources relating to the course content will be waiting for you! 24