How to Take the Planned Giving Conversation One Step Further

This is my second post on the topic of how to naturally bring planned giving into a donor conversation. At a recent seminar, long-time gift planner Chuck Knox shared with me his ideas on ways to begin the gift planning discussion. Here are a few more of Chuck’s ideas to take the conversation one step further:

For someone who doesn’t want to make a gift today - Ask the donor whether he or she would make a gift today to support your mission if it didn’t cost anything. Some individuals who are uncertain about the economy will want to hold on to stock, real estate and retirement assets during life, but would be willing to make a bequest of these assets. Ask the donor whether he or she has already created a will or trust plan. If the answer is yes and there is still a desire to make changes, one idea is to recommend that specific bequests be made to family members and a gift of the percentage of the estate or a percent of the residue (what’s left) be made to charity. If the donor does not wish to visit an attorney to make a change, explain that an IRA or 401(k) may be gifted by completing a beneficiary designation form (many of which are online).

For donors who have already made a planned gift - Chances are, if a donor is already enjoying increased income from a charitable gift annuity or charitable remainder unitrust, he or she has more discretionary income than needed. If you have been sending these checks to your donors, you have also built up a relationship of trust over a number of years. Often, happy donors are willing to make annual gifts of the unneeded funds and even become a major donor giving $30,000, $40,000 or $50,000+ a year. Donors who have made life income gifts are also excellent prospects for bequests. When you meet with your planned giving donors or send a letter you might ask whether they have remembered to include your organization in their planning. Sometimes receiving an additional gift from an already happy donor is just a matter of asking.

Chuck provides great ideas on how to build strong donor relationships. So often, charitable fundraisers get caught up in meeting internal goals (such as goals for number of donor visits made, gifts closed, etc.). Here Chuck offers a good piece of advice --If you really focus on the donors needs your goals as a fundraiser will be taken care of, as well.

For more information on ways to start the planned giving conversation or beginning your planned giving program, please contact me at kristen@cresmail.com. Also, email me if you would be interested in a free seminar on getting started with planned giving.