Lorri Greif | February 12, 2012
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Simplest Question About Planned Giving

Have you ever been personally solicited for a planned gift?

I devote a lot of time helping fundraisers (like you?) to bring in planned gifts.  I hold webinars, write articles, give trainings, work with donors, design planned giving campaigns and marketing plans and anything else I’m asked to do or I see is lacking as a way of supporting this kind of fundraising.

The most basic and common forms of planned giving usually are gifts payable after a lifetime, when the money will not be needed (as far as we know!).  Yet, so many development professionals are uncomfortable with this solicitation.

So often major gifts are solicited from the wealthy because we do some research and assume they can make the gift without changing their lives.  Well, this is most certainly true of a bequest, or beneficiary designation.  Still, nonprofit fundraisers don’t ask for this gift on a regular basis; even though planned gifts are often the largest gift a donor will ever make.

I keep pondering why this is such a tough solicitation. I realize there are some people who think it’s a “death conversation” but many more now know it’s about the future and a legacy.

Maybe the solicitors have never been asked for this gift themselves.  I can’t imagine what excuses a fundraiser may have that would be different from other supporters.  Some of us may not be working for our favorite charities…but we all have them (I hope).

If you’ve never been asked, you may never have seriously considered what your response would be – and why. You can hear the “talk” but never be able to sincerely address the initial objections that supporters may put forward.

Maybe you should think about what your own response would be, even if you’re never asked. It could be why you are uncomfortable with this “ask”.  If you’re interested, I’d be happy to discuss any objections with you if you think it will help your planned gift solicitation successes.  You can list the objections you have (or hear from prospects) in an email to me at lgreif@easypg.com with “pg objections” in the subject box.

I’d love to hear from you.  Let me know if I can help.

 

 

 

 

 

Category: charitable giving, Fundraising, major gifts, Nonprofit, Planned giving, planned givingcampaign, prospecting, soliciting gifts, Training, Uncategorized, webinar | Tags: , , , , , , ,
Lorri Greif | January 31, 2012
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Planned Gift Recognition

Properly thanking donors for their generosity and commitment is an important part of fundraising. We always want supporters to know that their gifts are  needed and appreciated.

On the other-hand, thanking people for planned gifts or planned gift commitments is a little different because often the assets are not actually received by the nonprofit for quite some time.

So, clearly it’s necessary to keep people engaged (and feeling appreciated) on an ongoing basis when they include favorite nonprofits in their estate plans .  Thank you letters are important…but ongoing stewardship rules.

People can change their minds when it comes to bequests, beneficiary designations, percentages of assets bequeathed, etc.  This is one of the reasons attributed to the fact that only about 1/3 of the people who include nonprofits in their estate plans will self-identify in advance.

Since 2/3 of these supporters are keeping a “secret” about a future gift, you have to be great to everyone (and fundraisers are often very good at that).

And, because people who let you know you’re in their plans have taken an even bigger step than those who won’t tell you, recognizing this charitable gift has to be more than just a letter and listing them in your annual report and on your website.

I’m a fan of “Legacy Honor Societies” because they reek of exclusivity.  It’s not so easy to get in and when you do you can get special things such as:

  • Society membership cards (to be used for discounts on other items or services).
  • Discounts on items or services. If you have a store, discount items in the store; theaters can give better seating or discounted tickets; museums can offer special pre-exhibition tours, and so on.
  • Exclusive scheduled live updates with the President or CEO either at a small reception or as part of an online group (for natioanal organizations).
  • Personally remember special occasions if you know when they occur, such as anniversaries or birthdays, etc.
  • Special notes on seasonal holiday cards.

These are just my first thoughts but you can be creative and show heartfelt gratitude in so many other ways if you think about it. Keep personally connected by sending pictures or articles you think they may care about or enjoy.  Stay in communication!

And, of course, if someone requests they not be listed as a society member, give them these extra touches anyway (with their anonymity).

I’m curious if you have some of your own unique ways of recognizing this special kind of giving. If you care to share, I’d really love to know.

Let me know if I can help.

 

Category: Branding, campaign planning, charitable giving, estate planning, Fundraising, Nonprofit, Planned giving, planned givingcampaign, Recognition, soliciting gifts | Tags: , , , , , , , , ,
Lorri Greif | January 17, 2012
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Planned Giving Start Up

So you’ve finally taken me seriously and plastered your planned giving slogan everywhere and now you need to take some strategic steps to move forward.

  • Get some help from leadership.  Find someone on your board that will “chair” the campaign and give them some responsibility in this area. It should preferably be someone who has already made a legacy gift commitment so they can speak about their own experience.
  •  Make a realistic prospect list and go over it with your chair and other development colleagues to discuss who and how to approach each person on the list.
  • Create a process for education/cultivation/solicitation and recognition.
  • Don’t look now but you’ve begun your campaign!

What holds you back from taking these steps?  Are you insecure about your knowledge of legacy gifts even though 80% are bequests? Are you nervous your long-time loyal donors will be angry to learn they can help secure your nonprofits future? Are you stuck with too much already on your plate?

So much is at stake – significant money. Let me know how I can help!

Don’t miss my Ventureneer Webinar from easyPG®: BUDGETLESS PLANNED GIVING CAMPAIGNS: Bring in Planned Gifts With Little or No Cost, Wednesday, January 25th, 2012, 12:00PM – 1:00PM EST - of course, it’s free!
Sign up here: http://easypg.com/budgetless_pg.html

Category: campaign planning, charitable giving, Fundraising, Nonprofit, Nonprofit board members, Planned giving, planned givingcampaign, prospecting, soliciting gifts, webinar | Tags: , , , , , ,
Lorri Greif | January 4, 2012
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Start Planned Giving in 2012 – Don’t Lose Another Year

Happy 2012 to everyone!

Don’t Forget to Adjust Your Charitable Gift Annuity Rates Beginning January 1, 2012 If You Follow ACGA Recommendations.  Find the New Rates Here: www.acga-web.org

This year I’m more committed than ever that nonprofits funded by people have a planned giving campaign.

If you read the first issue of the Planned Giving Key for 2012 you know that I think resolutions are only decisions unless you’re committed enough to put them into action. You can sign up for the twice a month e-newsletter at www.breakthroughphilanthropy.com.

That’s what we’re already working on for easyPG. We’ve begun redoing some things on the site but the real payoff will be in February with a much more user friendly and helpful site so that everyone who understands the importance of planned giving will have access to quality materials and support.

Why am I making these changes?  Why am I giving even more free webinars and offering free views of terrific information and training on SlideShare?

Because I made a commitment that 2012 would a year of new and rejuvenated planned giving campaigns.  It’s just a must do…no excuses!

If you’ve got something in mind that might help you to become more pro-active about asking for bequests and other planned gifts, let me know and I’ll try to provide it through the easyPG site.

Meanwhile, be sure to sign up for my free webinar on January 25th at 12:00PM: “Budgetless Planned Giving: Boost Your Planned Giving Campaign at Little or No Cost” through Ventureneer http://easypg.com/budgetless_pg.html.

You can also view or download my 2009 presentation called “Planned Giving: Here’s What It Is – Here’s What it Takes” from SlideShare. It’s a highly informative presentation, even today.   http://www.slideshare.net/lmgreif/planned-giving-heres-what-it-is-heres-what-it-takes.

Let me know what you think.

Wishing you breakthrough success with your planned giving program.

Category: budget, campaign planning, charitable gift annuity, charitable giving, Fundraising, Nonprofit, nonprofit budget, Planned giving, planned givingcampaign, prospecting, soliciting gifts | Tags: , , , , , , , , ,
Lorri Greif | December 7, 2011
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What is Wanted vs.What is Needed

Generally people have little trouble telling me what they want. Because of my profession, most often it’s a successful planned giving program for their nonprofit.

OK! I want that for them too. But, as is the case with so many things in life, what’s wanted and what’s needed are not necessarily the same thing.

People want training in how charitable remainder trusts work and how gifts of real estate have to be handled, and lots of other technical stuff. It’s all good to know.

But what people starting a new program need to learn before anything else is how to cultivate and steward their donors along in the gifting process so that eventually a planned gift is just the next step and the fundraiser is comfortable asking for it.

Experienced gift planning professionals already know that about 75%-80% of planned gifts are bequests or beneficiary designated assets.  When a more complicated gift comes along, there’s always a way to involve someone with more technical expertise (if needed) to get it closed.

In my humble opinion, knowing how these more complex gifts work is important so you can better address a prospect’s particular financial situation; let them know that a charitable gift of a certain type may be just what they need if they want some help with a specific financial situation.

But for the most part, successful planned giving campaigns are still fundraising  and knowing how to engagee your donors in this process is cultivation driven. The motivation for a donor to give is usually about what their gift will accomplish for your nonprofit; the tax code that makes the gift possible is secondary.

I have to admit it makes me nuts when people think understanding how payments from a charitable trust are taxed is more important than knowing how to make the “ask”.

Here’s the slide show of a presentation I made on National Philanthropy Day to the Westchester, NY AFP.

STARTING THE PLANNED GIVING CONVERSATION:

HOW & WHOM TO SOLICIT FOR PLANNED GIFTS

Starting the planned giving conversation

View more presentations from easyPG

http://www.slideshare.net/lmgreif/starting-the-planned-giving-conversation-afp-westchester

I’m getting lots of good feedback and I hope it’s helpful.

Let me know what you think!

 

Category: charitable remainder trust, Fundraising, Nonprofit, Planned giving, planned givingcampaign, prospecting, real estate, soliciting gifts, tax, Training | Tags: , , , , , , , , ,
Lorri Greif | November 22, 2011
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Donor Cultivation on a Budget

So now we’re in that season of pushing and pulling to get in all the gifts by December 31.  No one has time to breathe much less party.  No one has the money for extravagance either (and if you do you probably don’t want your donors to know that). This is not the time or economy to spend big.

But this is also the season of parties, holiday lunches, dinners and other celebrations in the world outside of nonprofits. How can we “celebrate” the holidays with our supporters without seeming financially callous?

Here are my thoughts on how to bond with special contributors and volunteers during this season of giving and getting without perceived inappropriate spending:

  • selective invite to a board members home or office for lite holiday refreshment (and maybe an updated vision for 2012),
  • pictures of your programs’ progress (especially if some contributors are in them) and a note of thanks from the CEO or COB,
  • of course, warm and smiling personal phone calls are always a nice way to treat someone with special regard,
  • exceptional holiday token (NOT a calendar!) such as something hand made by children, or elderly folks, or otherwise underserved beneficiaries of your services,
  • emailed personalized video message of holiday good wishes. This is really so easy and can be lots of fun,
  • certificates of special appreciation.

It’s all about being creative.  Every nonprofit has it’s own voice; holiday wishes do not have to be expressed with a lavish party or expensive meal in a high end restaurant (although that’s always nice and occasionally necessary).

Tight budgets should not interfere with cultivation and stewardship, because  heartfelt actions are always appreciated, even (or especially) when supporters see them as cost effective.

Happy Thanksgiving!

 

Category: budget, campaign planning, charitable giving, Fundraising, major gifts, Nonprofit, Nonprofit board members, nonprofit budget, recession cutbacks, soliciting gifts | Tags: , , , , , , , , , ,
Lorri Greif | November 9, 2011
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Planned Giving Visibility When It’s Not the Main Attraction

I’m always talking about making your planned giving campaign highly visible. It has to be everywhere for it to sink in with prospects (also known as your loyal supporters) that you’re serious about receiving these gifts.  After all, even the most charitable people don’t necessarily think of this kind of giving right off the top of their heads.  If you have a soft (or hard) ask everywhere, people eventually get what you’re after.

So, many of my clients put “please include [our nonprofit] in your will” - or hopefully something more catchy – under email signatures, at the bottom of their organization’s stationery, on the back of their business cards, on pre-printed return envelopes, and wherever else there’s room.

Recently, I was at a client’s event and I was happy to see that there was a silver page in their printed event journal listing their Planned Gift Honor Society’s members.  I loved this since I usually preach about such a page listing different types of planned gifts. But, this was actually far more effective because not everyone knows what a charitable remainder trust is, but the fact that lots of people belong to a legacy society is powerful and hopefully thought provoking for anyone who sees it.

I also had the opportunity to point the page out to everyone sitting at my table “wow…look at all these members!” so they could ask me questions (I’m incorrigible when it comes to promoting planned gifts).

Planned gifts are also something that should be included in the speaking part of the program. Somebody should find a place to say how important these gifts are to continuing your mission.  If the honoree(s) have made a bequest or a gift annuity or another planned gift, encourage them to mention it in their remarks. 

And don’t forget to coach your organization’s professional staff (everyone – not just development people) in case someone asks “what’s a planned gift?”.

Lastly, don’t ignore the planned gift potential of someone who comes to all or most of your activities, regardless of the purpose or honoree.  This is someone consistently giving but through event support rather than a direct solicitation.  Loyalty has many faces.

My point is that no matter if it’s a planned giving seminar, a luncheon, an honoree event, a picnic – whatever! – keep promoting planned giving everywhere, even at your events, because when the message sinks in it could be the best gift the donor ever makes.  

Good luck and don’t hesitate to ask me for help!

 

 

Category: Branding, campaign planning, charitable gift annuity, charitable giving, charitable remainder trust, Fundraising, Nonprofit, Planned giving, planned givingcampaign, prospecting, soliciting gifts, Uncategorized | Tags: , , , , , , , , ,
Lorri Greif | October 26, 2011
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Planned Gift Prospects Come in Many Shapes & Sizes

People who are familiar with planned giving campaigns will always tell you that the best prospects for these gifts are what we often call “loyal” supporters.  Usually this refers to contributors of all sizes who have demonstrated their loyalty with their consistent giving over a long period, sometimes decades.

The gift amount is usually not as important as the consistency of giving when judging “loyalty”.  Circumstances can account for larger or smaller contributions but the ongoing desire to help is the over-riding factor in determining the possibility of a planned gift.

When someone includes your nonprofit in their estate planning, they’re treating your nonprofit like a loved one or family member and their love of your work comes through with their consistant donations, in good times and bad.

However, these are not the only people who should be considered “loyal” when it comes to choosing planned gift prospects. Loyalty also shows up in other ways.

For example, wouldn’t you consider a long time volunteer as someone loyal to your organization?  Lot’s of people show their caring through volunteering. Sometimes they may be uncertain or insecure about their financial future.  Yet, they may delighted with making a gift through their will or trust, when they can be sure that they won’t need the funds.

As with other volunteers, board members are a natural (and a must!) as planned giving prospects.  Sitting on a nonprofit board speaks to a special commitment and it should be demonstrated both in current and deferred gifts.  And, sometimes, their relatives may feel a special connection as well, out of respect for their family member’s feelings.

How about the person who is grateful because the nonprofit’s work made a huge difference in their life, or perhaps even saved their life?  Yes, they may make a large current gift in gratitude (though probably not regularly), but a testamentary gift, which may have much greater impact should also be discussed.

And, don’t forget the corporate leader who always purchases tables or provides other types of support for your activities and events. When this happens regardless of the honoree, it may be an indication of the leader’s personal commitment and it should definitely be explored further.

When prospecting for planned gifts, try to segment your marketing and solicitations.  Definitely look at long time consistant givers (and this most definitly includes direct mail contributors as well), but also research the motivations for your volunteers (board members and otherwise) and anyone else displaying a special loyalty. The greater the perceived commitment, the more likely that the prospect will make a planned gift.

And just as an afterthought, for those who think “membership” is not a donation, think again.  Do you truly believe discounts in your nonprofit’s real or virtual “shop”, or your calendar or “magazine” are why your members give you money?  This money is a contribution unless they’re receiving something huge in exchange so always include your members on your list of planned gift prospects.

As you can see, there is no shortage of potential planned gift contributors.  But what you have to do in all these cases is let your constituents know you want this type of gift. Educate, market, and ask.

Good luck! Let me know if I can help.

 

Category: campaign planning, charitable giving, estate planning, Fundraising, Nonprofit, Nonprofit board members, Planned giving, planned givingcampaign, prospecting, soliciting gifts | Tags: , , , , , , , , ,
Lorri Greif | October 17, 2011
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Planned Giving Campaigns Without a Budget

These tough times have become a common denominator for just about everyone, richer and poorer alike. This holds true for bigger and smaller nonprofits as well. Everyone is nervous and many are cutting back.

Lately, I see a lot of trimming on the planned giving budget because “current dollars” are all anyone can think about.

While there are planned giving options that can bring in current revenues, they’re more limited and one of them, the direct charitable gift of up to $100,000 for people over 70 1/2 years will most likely end in 2011.

Yet, I think planned giving campaigns are still urgently needed; especially in light of another common denominator for all living things including charitable contributors – guaranteed end of life.

Keeping this in mind, planned giving is still a gifting opportunity, even when dollars are tight because:

  • Cash is usually only a small portion (approx. 5%) of a person’s assets.
  • “Tomorrow” dollars may be the only ones a donor can comfortably give.
  • Loyal donors don’t stop caring about your organization, and a planned gift may be their only option to help right now.
  • Being able to make a gift of any sort is empowering and feels good (and people need this kind of uplift more than ever in tough times).
  • Planned gifts may actually improve a donor’s situation, possibly increasing their income or diminishing a burdensome tax.

There are several ways that you can stay in the game, even if your budget is slashed, without losing the visibility of your nonprofit’s need for planned gifts.

  1. If your gift planning newsletter is eliminated, put your gift planning articles and personal testimonials in your organization’s regular newsletter.
  2. Send emails (e-blasts) to appropriate supporters with gift planning news or tax-saving strategies
  3. Include the slogan “remember us in your will” on just about everythng, your stationery (including envelopes) under your email signature, on your website, at all event activities, etc. The more creative and adventurous you are the more your slogan will be remembered.
  4. Include inserts in your regular mailings that offering planned giving opportunities, such as bequest language, how easy it is to designate your nonprofit as a beneficiary of an insurance policy or financial account, or the benefits of designating your nonprofit as a beneficiary on a retirement plan.
  5. Have a trusts & estates attorney or knowledgeable accountant host an “information” gathering of appropriate prospects (email invitations if possible) to offer gift planning ideas.

Being creative is part of being thrifty.  Don’t drop your planned giving campaign because your budget was cut. You can still do it!

Don’t forget, I’m offering you a free gift – our highly praised Step-by-Sty Guide to Estate Planning – which you can offer to prospects and donors either to thank them or help them start the planned giving process.  All you have to do is like easyPG and it’s your’s without cost. See the video below or just go to: www.Facebook.com/easypg

 

 

 

Good luck and let me know if I can help.

 

 

Category: budget, campaign planning, charitable giving, Charitable IRA, estate planning, Fundraising, Nonprofit, nonprofit budget, Planned giving, planned givingcampaign, prospecting, recession cutbacks, soliciting gifts | Tags: , , , , , , , , ,
Lorri Greif | October 3, 2011
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How to Leave Money to Charity – WSJ.com

Finally, the Wall Street Journal gets it right about planned giving and writes about it in a way everyone can understand.  Worth reading.  Here’s the link:

How to Leave Money to Charity – WSJ.com#articleTabs%3Dcomments.

Category: charitable gift annuity, charitable giving, Charitable IRA, charitable remainder trust, estate planning, tax, Uncategorized | Tags: , , ,
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