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The Creation and Implementation of a Gift Policy
& Marketing Planned GivingSetting up and marketing a basic planned giving
program
Marc A. Pitman, The Fundraising Coach, www.fundraisingcoach.com
TWITTER @marcapitman
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Billions of dollars given
You’re not asking for something that others are opposed to doing
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What would it cost to rename?
Seriously. How much would someone have to give to rename the organization?
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Naming opportunities
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Baby step #5: More complex?
WENHAM, MA-Today Gordon College officially announces the largest gift in its history--Dale E. and Sarah Ann Fowler have committed $60 million from their estate to the College as unrestricted endowment. In response to this significant gift, Gordon will officially name its Wenham campus the Dale E. and Sarah Ann Fowler Campus.
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You need a plan
You can’t make these decisions up on the fly. You need a plan and policy.
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You need a plan
You can’t make these decisions up on the fly. You need a plan and policy.
Having one makes is MUCH easier to talk to donors.
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You need a plan
You can’t make these decisions up on the fly. You need a plan and policy.
Having one makes is MUCH easier to talk to donors.
Plus, it’s required (in certain cases) by the IRS in Section M
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Baby steps to a gift policy
1. What do you value? What do you want to accomplish?
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Baby steps to a gift policy
1. What do you value? What do you want to accomplish?
2. What will help you get there?
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Baby steps to a gift policy
1. What do you value? What do you want to accomplish?
2. What will help you get there?3. How will you acknowledge gifts?
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Baby steps to a gift policy
1. What do you value? What do you want to accomplish?
2. What will help you get there?3. How will you acknowledge gifts?4. What forms of payment are you
easily able to process?
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Baby steps to a gift policy
1. What do you value? What do you want to accomplish?
2. What will help you get there?3. How will you acknowledge gifts?4. What forms of payment are you
easily able to process?5. What forms are you willing to
process?
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Baby step #1: Core Values
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Baby step #1: Core Values
This work has probably already been done.– Review mission and vision– Review history of organization– Revisit foundation and overcoming
stories What is the vision you’re trying to
accomplish?
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Baby step #1: Core Values
Core values matter– If we don’t stand for something, we’ll fall
for _______.
One Catholic group took this so seriously, they wouldn’t allow terms like “deadlines” and “bullet points”
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Baby step #2: What will it cost?
Case statementGiftRangeCalculator.com
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Baby step #2: What will it cost?
Case statementGiftRangeCalculator.com
These are outlined in Ask Without Fear!
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Baby step #3: Acknowledgement
Stewardship policy–Thank you in 24-48 hours–Certain gift levels get note; others call
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Baby step #3: Acknowledgement
Stewardship policy–Thank you in 24-48 hours–Certain gift levels get note; others call
Naming opportunities
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Baby step #3: Acknowledgement
Stewardship policy–Thank you in 24-48 hours–Certain gift levels get note; others call
Naming opportunitiesGiving clubs/levelsVisionaries - ($10,000+)Founders -
($5,000+)New Millenium - ($2,000+)Heritage - ($1,000+) Pacesetters -
($500+)Benefactors - ($250+)Patrons - ($100+)Friends - (up to
$100
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Baby step #3: Acknowledgement
Stewardship policy–Thank you in 24-48 hours–Certain gift levels get note; others call
Naming opportunitiesGiving clubs/levelsVisionaries - ($10,000+)Founders -
($5,000+)New Millenium - ($2,000+)Heritage - ($1,000+) Pacesetters -
($500+)Benefactors - ($250+)Patrons - ($100+)Friends - (up to
$100
Name them based on your core values!
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Baby step #4: Easy to process?
What forms of payment are you easily able to process?–Cash
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Baby step #4: Easy to process?
What forms of payment are you easily able to process?–Cash–Credit Cards
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Baby step #4: Easy to process?
What forms of payment are you easily able to process?–Cash–Credit Cards–EFT
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Baby step #4: Easy to process?
Sample cash, credit card & EFT wording–Cash–Credit Cards–EFT
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Baby step #4: Easy to process?
What forms of payment are you easily able to process?–Cash–Credit Cards–EFT–Stock
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Baby step #4: Easy to process?
Sample stock wording
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Baby step #4: Easy to process?
What forms of payment are you easily able to process?–Cash–Credit Cards–EFT–Stock–Corporate Matching Gifts
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Baby step #4: Easy to process?
Sample Corporate Match wording
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Baby step #5: More complex?
What other forms of gifts will be worth the effort–Wills/Bequests
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Baby step #5: More complex?
Sample bequest wording–Wills/Bequests
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Baby step #5: More complex?
What other forms of gifts will be worth the effort–Wills/Bequests–Life insurance
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Baby step #5: More complex?
Sample life insurance wording
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Baby step #5: More complex?
Sample life insurance wording
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Remember the right to refuse
An important part of a gift acceptance policy is stating the board has the right to refuse.
I had to do that with a gift of land
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Remember the right to refuse
An important part of a gift acceptance policy is stating the board has the right to refuse.
I had to do that with a gift of landBoardSource:
– “The board shall have the right to refuse contributions that do not enhance, promote, and ensure further the purpose of XYZ and the long-range financial viability of the organization”
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Baby step #5: More complex?
What other forms of gifts will be worth the effort–Wills/Bequests–Life insurance–Land
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Baby step #5: More complex?
Sample land/real estate listing
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Baby step #5: More complex?
Sample land/real estate listing
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Baby step #5: More complex?
What other forms of gifts will be worth the effort–Wills/Bequests–Life insurance–Land–Closely held stock
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Baby step #5: More complex?
Sample closely held stock wording
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Baby step #5: More complex?
What other forms of gifts will be worth the effort–Wills/Bequests–Life insurance–Land–Closely held stock–Annuities/Trusts
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Baby step #5: More complex?
What other forms of gifts will be worth the effort–Wills/Bequests–Life insurance–Land–Closely held stock–Annuities/Trusts
Not as common, but important to have thought them out before you have a donor offering them to you!
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Baby step #5: More complex?
Sample annuities/trusts wording
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Baby step #5: More complex?
A few others–Gifts-in-Kind–Art
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You’ve revisited core valuesYou’re thought about the cost of your
workYou’ve looked at gift vehicles and your
staff’s level of expertise.NOW you can look at templates and
pick and choose!
Now you’re template ready!
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We’ve already walked you through a template.
Get a free package of templates atHTTP://FUNDRAISINGCOACH.COM/GIFT-POLICY/
Now you’re template ready!
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Inland Foundation
Sample “Ways to Give” Page
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Inland Foundation ExamplesOthers
–Standards for Excellencewww.standardsforexcellence.org
–GuideStar–Partnership for Philanthropic Planning–National Leadership Roundtable for
Church Management
Sample “Ways to Give” Page
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Marketing Planned Giving
You’re not asking for something that others are opposed to doingMore than
$25 billion!
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Generational wealth transfer
John Havens and Paul Schervish of Boston College had estimated trillions of dollars http://www.bc.edu/research/cwp/
Less now because people are giving to charity in life…but still a lot of wealth!
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Not for “specialists”
Blackbaud White Paper
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Not for “specialists”
“We believe that the issue here is again one of education . In many nonprofits bequests are regarded as a planned gift and therefore solicited and administered by the planned giving department . We argue that the solicitation of bequests should be regarded as matter for everyone and integrated with an organization’s ongoing communications.”—Growing Philanthropy in the United States: A report on the June 2011 Washington D.C. Growing Philanthropy Summit by Adrian Sargeant & Jen Shang White paper at www.Blackbaud.com
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Matures still very generous
Blackbaud’s NextGen study shows “Matures” are still very generous
Fixed income isn’t stopping giving
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Long-term, not quick fix
Remember those cereal commerials? “Part of a complete breakfast?”
Often the EXPENDABLE part
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Long-term, not quick fix
Most orgs need cash NOW–Build on robust annual fund and major
gift program
Many donors “test” nonprofits with current giving before trusting them in their estate
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Not who you think
Moreover, according to Robert F. Sharpe, Jr – the best teacher on this – there is no correlation between:–Wealth or– Income–And a donor making a planned gift
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Not who you think
Moreover, according to Robert F. Sharpe, Jr – the best teacher on this – there is no correlation between:–Wealth or– Income–And a donor making a planned gift
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Simple phrasing to include
After you’ve taken care of your family and loved ones, would you consider leaving us in your will?
We have sample wording on our website. You could discuss that with your attorney or advisory team.
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Resource Links
–http://www.boardsource.org/–http://standardsforexcellenceinstitute.org/–http://guidestar.org/–http://www.theleadershiproundtable.org/–http://www.councilofnonprofits.org/
nonprofit-gift-acceptance-policy–http://www.sharpenet.com/
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501 Mission Place – Chris Brogan
Tell the story briefly, end 1st paragraph with brief summary of the request
Explain what is getting done
Ask for what needs to be done (with link)
Ask them to pass it on
Weekly emails designed to get you in front of major gift
donors
FundraisingKick.com
MovieMondaysVideos.com
100DonorsProgram.com
DonorRetentionJazz.com
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Give me your card for a free copy of these slides & to sign up for my email newsletter
Go to http://fundraisingcoach.com/gift-policy/ to get free templates