When I talk with charities about creating a planned giving website, I always recommend that they include an option for online giving. It seems intuitive that nonprofits seeking planned gifts would also want current dollars.
One charity officer who emailed me this week expressed concern that offering online giving would take away from their planned giving efforts. I responded that online giving will actually help raise planned gifts. Here are some reasons why your charity should include online giving on your planned giving website.
Because Your CFO Wants Dollars Now If your charity’s CFO is like most CFOs, they are concerned with the organization’s bottom line. They want to see how much revenue the planned giving program is generating on an annual basis. Because planned gifts sometimes take time to mature, if you can show that the planned giving department is generating current cash to add to the annual budget, this can only help justify your planned giving efforts – especially while you are waiting to receive that next big bequest or charitable remainder.
Because Annual Gift Donors Make Planned Gifts Some of your best prospects for planned gifts will be consistent annual gift donors, especially those who have given to your organization for 10 or more years. While these individuals may not make large gifts, their commitment to your mission (as shown through their regular gifts) makes them good candidates for bequests and also charitable gift annuities (for annual fixed income). It makes sense that you would include online giving options for donors who may not be ready to make a planned gift now, but, with time, will make this added commitment.
Because Planned Giving Donors Make Cash Gifts If a donor has already established a gift annuity with your organization, he or she is likely enjoying some tax-free income. There is a lot of anecdotal evidence about donors establishing multiple gift annuities (see my prior post on this topic). Why does this make sense? Gift annuitants (particularly seniors) seldom make drastic changes in lifestyle later in life. With the benefit of tax-free income, many find that they have more than they need. Later in life, these individuals have a propensity to repeat gift annuities and make cash gifts. Providing an online giving opportunity can only help facilitate these gifts and put a smile on your CFO’s face.
I’ve given you just a few reasons why you might want to include an online giving option on your planned giving website. I came across a useful blog post on 10 sites that help you setup a donation fund. This might give you some ideas on ways to add an online giving presence. If you have further questions about this topic please post a comment on my blog or send me an email kristen@cresmail.com.
One charity officer who emailed me this week expressed concern that offering online giving would take away from their planned giving efforts. I responded that online giving will actually help raise planned gifts. Here are some reasons why your charity should include online giving on your planned giving website.
Because Your CFO Wants Dollars Now If your charity’s CFO is like most CFOs, they are concerned with the organization’s bottom line. They want to see how much revenue the planned giving program is generating on an annual basis. Because planned gifts sometimes take time to mature, if you can show that the planned giving department is generating current cash to add to the annual budget, this can only help justify your planned giving efforts – especially while you are waiting to receive that next big bequest or charitable remainder.
Because Annual Gift Donors Make Planned Gifts Some of your best prospects for planned gifts will be consistent annual gift donors, especially those who have given to your organization for 10 or more years. While these individuals may not make large gifts, their commitment to your mission (as shown through their regular gifts) makes them good candidates for bequests and also charitable gift annuities (for annual fixed income). It makes sense that you would include online giving options for donors who may not be ready to make a planned gift now, but, with time, will make this added commitment.
Because Planned Giving Donors Make Cash Gifts If a donor has already established a gift annuity with your organization, he or she is likely enjoying some tax-free income. There is a lot of anecdotal evidence about donors establishing multiple gift annuities (see my prior post on this topic). Why does this make sense? Gift annuitants (particularly seniors) seldom make drastic changes in lifestyle later in life. With the benefit of tax-free income, many find that they have more than they need. Later in life, these individuals have a propensity to repeat gift annuities and make cash gifts. Providing an online giving opportunity can only help facilitate these gifts and put a smile on your CFO’s face.
I’ve given you just a few reasons why you might want to include an online giving option on your planned giving website. I came across a useful blog post on 10 sites that help you setup a donation fund. This might give you some ideas on ways to add an online giving presence. If you have further questions about this topic please post a comment on my blog or send me an email kristen@cresmail.com.
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