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Planned Giving for the Small Shop
Yavapai College FoundationPrescott, AZ
Steve WalkerVice President of Advancement, Yavapai CollegeExecutive Director, Yavapai College Foundation
Paul KirchgraberDirector of DevelopmentYavapai College Foundation
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There are two rules forsuccess….
1. Never reveal everything you know
2. See rule #1
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Sorry…these things will not be covered here today.
• Charitable Bequest• Non-Cash Asset• Charitable Gift
Annuity• Charitable Remainder
Trust
• Charitable Lead Trusts• Split Interest Gifts• Cost Basis• Payable on Death
(POD)
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10 Reasons You Need a Planned Giving Program
1. If you’re not asking your prospects for planned
gifts, someone else is.
2. Eventually that “someone else” will steal your
cash gifts, too.
3. Cash-starved times are best times for planned
giving.
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4. Organizations who even dabble in planned giving eventually earn 50% to 100% more than those who don’t.
5. A typical planned gift is 200 to 300 times the size of a donor’s largest annual gift.
6. Planned gifts do not affect prospects’ cash flow.
10 Reasons You Need a Planned Giving Program
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7. Prospects are eager to make a planned gift, but simply don’t know how.
8. Prospects making gifts through their wills typically increase their annual support.
9. Anyone can make a planned gift.
10.It’s easy and it works.
10 Reasons You Need a Planned Giving Program
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An ambitious endowment building campaign kick-started the
Yavapai College planned giving program.
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Establish Program Goals
In Ten Years (by 2020)
1. Grow the endowment to $16 million2. Contribute $640,000 annually to Yavapai College
-Assume a 4% spending policy on endowed funds-Endowment goal driven largely by planned gifts and endowed scholarships
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Marketing and Outreach
- Create a planned giving & endowment marketing plan. (Received training via the Arizona Endowment Initiative)
- Develop marketing materials
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Getting Your Board on Board
Ensure long-term support of planned giving by your board leadership
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Transformational GivingMassie Life Insurance Gift & Scholarship Plus Program
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Developing your Infrastructure
Need to Establish: -Policies -Procedures -Guidelines in support of your planned giving program
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So…how are we doing?
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Sorry…But You Do Have to Learn the Basics
About Planned Giving Vehicles
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Remember these from the start of today’s session?
• Charitable Bequest• Non-Cash Asset• Charitable Gift
Annuity• Charitable Remainder
Trust
• Charitable Lead Trusts• Split Interest Gifts• Cost Basis• Payable on Death
(POD)
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Who is your target market for bequests?
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True or False?The BEST indicator that a person is likely to leave a bequest is their WEALTH
Source: Samuel D. Caldwell, President, The Planned Giving Company. "The Old Gray Mare Ain't What She Used to Be: The Revolution in Planned Giving Marketing." 2007, 2008
FALSE: The best predictor is LOYALTY
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78% of planned giving donors give 15 or more gifts
to the nonprofits they named in their will during their lifetimes.
According to a survey conducted by Lawyers.com and the Counsel for Aid to Education (CAE) Voluntary Support of Education (VSE)
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Who is your target market for bequests?
2007 – Indiana University study determined who is most likely to consider making a bequest:
1. Between the ages of 40 and 602. Bachelors degree3. Yearly income between $50,000 and $75,0004. Motivated by a desire to do good & to do what’s
expected of them
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Who is your target market for bequests?
2012 – American Charitable Bequest Demographics study determined who actually has a bequest in their will.
1. Single2. 40 – 70+3. Bachelor’s degree4. Income $100,000+5. Frequently attends religious services6. No children
80% Never Notify the Charity
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More than 60% of Americans don’t have a valid will in place. That’s also our audience.
SOURCE: Russell James, Inside the Mind of the Bequest Donor, © 2013
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SOURCE: Russell James, Inside the Mind of the Bequest Donor, © 2013
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When do estate plans change?
Factors predicting when charitable plans are ADDED
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When do estate plans change?Factors predicting when charitable plans are ADDED
1. Approaching death (final pre- death survey)
2. Becoming a widow/widower
3. Diagnosed with cancer
4. Decline in self- reported health
5. DivorceSOURCE: Russell James, Inside the Mind of the Bequest Donor, © 2013
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When do plans change?Factors predicting when charitable plans are ADDED
6. Diagnosed with heart problems
7. Diagnosed with a stroke
8. First grandchild
9. Increasing assets
10. Increasing charitable giving SOURCE: Russell James, Inside the Mind of the Bequest Donor, © 2013
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Identify Prospects and
“Work the List”
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Identify Prospects
(Hint…many are already your donors)
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Qualify Prospects
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Get out and meet your donors (…who we know now, are our
best planned giving prospects)
7. Prospects are eager to make a planned gift, but simply don’t know how.
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Build Your Donor Relationships
Start a Planned Giving Stewardship Society (Legacy League)
This is Eleanor
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Legacy League Growth
Prior to 2008 43 members
As of 2015 164 members
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“Your last will and testament is your final teaching.
What do you want it to say?”
~Rabbi Mordechai Leibling
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Discussion.