Professional Development Opportunities for Planned Giving Professionals

[Felicia Umstead]

Network for Good is offering a free webinar entitled Launching and Sustaining a Planned Giving Program on July 29 at 1:00 p.m. ET.

Planned gifts can be transformational for your organization. Looking for the knowledge and tools to make planned giving doable and scalable for you nonprofit? During this webinar, we’ll discuss how you can track your planned giving donors and prospects in Network for Good’s smart and simple fundraising software.  If you are interested, please register today.

[Felicia Umstead]

PLANNED GIVING…

Just those words can make even the best fundraisers immediately glaze over. Many avoid planned giving and justify it by stating:
• That’s too technical.
• I don’t want to deal with tax laws, accountants, and lawyers.
• There’s no immediate payoff.
• I’m too busy – Let me read my next email!!!
This isn’t a new trend either; too many development professionals have thought this way for far too long.

Today’s Tip for Highly Successful Fundraisers will help every reader, regardless of your level of involvement in planned giving.

Now, before I dive too far into this Tip, if you prefer to watch it – Click Here!

I specifically wrote this Tip with “Joe” and “Josephine” in mind—they are our two hypothetical and slightly-above-average fundraisers who want to be highly successful.

In recent Tips, I have advanced fundraising principles based on “The Lost Manuscript” by Si Seymour with observations by Jerry Panas. The book is a treat – Click Here to Get A Copy!

Mr. Seymour’s and Mr. Panas’ writings on planned giving are rich—so rich that I am going to devote three Tips from the book about planned giving.

Mr. Seymour was unsure about planned giving in January, 1952, and he said he was, “writing more in the spirit of inquiry than of revelation.”

Yet, as you would expect from a pioneer, he nails the principles of planned gift fundraising.

Now, let me share some of those principles with you, with a few added comments from Jerry and me.

The “particular problems” that Mr. Seymour identified with planned giving 68 years ago are the same obstacles we must confront and overcome today:
1. Death: When you talk about planned giving, you are talking about death, and not just anyone’s death, but the donor’s death. OK, so are you immortal? We can help our donors overcome this irrational fear.
2. Inertia: A planned gift usually is not as simple as writing a check. But the most popular planned gifts are not that complicated. We must supply the facts, excitement, and motivation to initiate action.
3. No immediate payoff: Let me assure you, your nonprofit is going to need money tomorrow—and donors, properly inspired, want to help meet that opportunity.
So, what would I tell Joe and Josephine about planned giving? “We need to talk about planned gifts with our donors.”

To confront the difficulties of effectively promoting planned giving, let’s review some principles, and some great ideas:
1. Appeal generally: Create awareness among all your constituents. The vast majority of planned gifts are bequests and designations in retirement funds.

It is hard to know when someone is ready. Sometimes, the only time you know is when you receive the notice that your nonprofit was named in their estate.

Jerry states 83% of bequests are from donors with less than $3 million estates. My experience has shown it to be a far higher percentage, and the vast majority are simple bequests.

In creating this general awareness, I believe you advance the importance of philanthropy and the opportunity for your donors to help others.

Now, for Joe and Josephine, appealing generally does not mean you have to write a planned giving mailing. This does mean they should not hesitate to discuss planned giving when a donor is ready, or when a gift solicitation you are making calls for a conversation about planned giving.

2. Have the basic materials and guidelines available for donors: These materials and guidelines are relatively simple to develop. Services are readily available to help you have materials and guidelines in place, unlike 68 years ago.

For Joe and Josephine, this does not mean you have to write these materials. But let me ask you this – Do you have the materials available in your office? Do you know the link to bring up these resources? Is that link available for you to insert in your next email?

3. Be constant and consistent: There should be no pressure on donors as you promote planned giving, but that is not to say promotion can be non-existent.

Estate gifts allow many to significantly impact your institution and those who benefit from your services.

Again, Joe and Josephine, this is not advice just for your newsletters and websites. Be consistent and pleasantly constant in conversations you have with donors.

4. Stay in contact appropriately: This is an expansion on the suggestion above.

Once a prospect has expressed an interest in a planned gift, or made a planned gift, it is your job to increase the donor’s commitment to your nonprofit by thoughtful and timely communication.

Planned giving is a long-term commitment. You never want a prospect to think you are not following-up, or even worse, believe that you no longer care.

For more on this, I recommend you read a great article by Viken Mikaelian, CEO from PlannedGiving.com – Click Here to Read!

Joe and Josephine, when was the last time you had a real conversation with each of your planned giving donors and planned giving prospects?
Si Seymour, Jerry Panas, and I encourage you to have meaningful planned giving conversations because planned gifts bring your donors joy, strengthen your nonprofit, and help change and save lives.

As always, your thoughts are welcomed. Thx ben.

PS: In my next Tip for Highly Successful Fundraisers, I will have more specific suggestions from Mr. Seymour and Jerry to enable you (and Joe and Josephine) to have these discussions with donors.

PSS: *The Lost Manuscript. Wit and Wisdom of Si Seymour. Observations and Comments by Jerold Panas was shared with me by Felicity Panas, President of the Institute for Charitable Giving, as we discussed the principles of great fundraising. To order a copy of “The Lost Manuscript” – Click Here!

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