I often hear from executive directors that planned (legacy) giving scares them so the organization does not actively promote. Believe me I have been there and I almost peed my pants one day when a donor brought it up as I was so nervous. (Luckily, I didn’t and all worked out well with the creation of an estate gift.) Today my response is, “you are making it too complicated.” You don’t have to be an expert to plant a seed.
Planned giving programs can be implemented in stages. While annuities have certain asset requirements for organization, including your organization in a donor’s Last Will and Testament does not. At the very least, your organization should promote this option. A question I get frequently is what is my role as executive director in that program as I do not have the knowledge to discuss. Do I need to hire a planned giving person before we start? Are there in-depth courses that I or a staff member can take? How do I promote?
As executive directors, it is our job:
- to pique interest and raise awareness that will inspire action. That requires basic knowledge and lots of passion for the mission!
- to find the expertise to complete the specific action that would fulfill the goals of the donor. I still recall calling a planned gift officer for another organization and begging him (ok so I bribed him with a beer) to walk me through a deferred gift annuity as that was the tool a donor wanted to use.
- to have the humility to admit we do not have all the answers but that we will find them.
As you look at building a planned gift program, it is good to explore the different options. While there are planned giving courses, sometimes they are way over the heads of the personalities that excel in annual and major gift fundraising and just add to the fear of not broaching the subject. I have found that sitting down with a planned giving officer at another organization and asking for the donor level explanation of the subject is extremely helpful. Then I ask which ones they would implement in my organization. They know the laws and the challenges. Then I ask if they would be willing to walk me through when a donor brings a planned gift option to the table. I love the development profession as the majority of the time the answer is a resounding yes, as we strive to support each other in our goals of passion.
As an executive director and even a development officer, my brain still is not set up for that much legal mumbo jumbo and detail. I lightly tell donors that I know enough to be dangerous but will get them as much detail as they need. If your organization has the qualify asset base required for annuities and unitrusts, by all means find expertise through estate planners, contract with planned giving officers at other charities, financial planners, estate lawyers or invest in software like Crescendo that will walk you through the steps. But until that time, build a network of people you can call for advice and do your job of instilling in your donors the passion and curiosity to explore legacy giving.
Promoting estate giving should include:
- Website – I like a page designated for ways to give which includes planned giving, memorial giving, in-kind as an example.
- Return envelopes – ask the question if they want more information concerning estate giving on the return envelope of a direct mail or in an annual report.
- Brochures, annual reports, etc – depending on the organization, some have separate brochures that pique interest with a brief description of each option you offer and others combine in annual reports or general informational brochures.
- Testimonials – secure as many as you can. Start with your board members! I often share with estate donors that it is a great way to motivate others to do the same. As they are passionate enough to take this step, they will often agree to help with others.
- One on one conversations with donors – never forget the ultimate fundraising tool – one on one conversations. Being curious about how people want to be remembered, their legacy goals, how that might fit in with your mission is a great way to engage in the subject.
It is important to remember that most of your audience will only have a vague understanding of the concept of planned giving. Avoid complicated and long descriptions in your promotional material. We forget that often the subject is as scary and unfamiliar to donors as it is to us. As you incorporate planned giving into your organization, you will be delighted to learn of how passionate donors can be. One of my most surprising moments was when I helped a donor with language for her will and she hugged me and cried. She had finally found a way to leave her mark. Legacy giving can be a gift to both parties!
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