July 18, 2018

What are planned gifts?

Planned gifts are quite literally what they sound like. Well…sort of. The term simply means that somebody has planned to give a gift to an organization at a later date, often after their passing.

Most often, cash (or money in general) probably comes to mind. However, there are a variety of types of planned gifts instead of cash, including:

  • Life insurance
  • Personal property
  • Other real estate
  • Retirement plans

Should I be focusing on planned gifts?

Chances are, you probably aren’t putting enough emphasis into your planned giving strategy. If we put 100 fundraisers in a room and asked who felt their organization was putting too many resources toward planned giving, there might be a few hands.

As with everything in life, you should ask yourself, How important is it? In this case, the “it” refers to the portion of planned giving dollars in relation to your overall fundraising goal.

Things that are important deserve your time, effort and attention. Although fundraising is driven by the compassion of your donors, that compassion is cultivated through your time, effort and attention to each donor. See how it comes full circle? It’s a numbers game.

If your organization places enough emphasis on planned giving, you may already have a program in place with different levels of giving options. If so, well done. Make sure to constantly be challenging your processes and asking if what you’re doing is effective.

How should I honor planned gifts after they’ve been secured?

The answer here is the same way you treat all of your other donors. After a planned gift commitment, you still have time to honor the donor and treat them like family. It’s important to show your appreciation in any way possible with the time you have.

Or, if the person who is giving the planned gift has already passed, that doesn’t mean your job is over. There are still family members that will carry on the legacy and you have the opportunity to make them feel like part of your organization’s family.

Invite those surviving the late donor into your organization and treat them like donors themselves. Express your genuine gratitude toward them and convey the impact that the planned gift has had on your organization. Then, keep them up-to-date on how those wishes or plans are being carried out.

 

The post A Beginner’s Guide to Planned Gifts appeared first on Nonprofit Hub.

July 18, 2018

A Beginner’s Guide to Planned Gifts

What are planned gifts? Planned gifts are quite literally what they sound like. Well…sort of. The term simply means that somebody has planned to give a gift to an organization at a later date, often after their passing. Most often, cash (or money in general) probably comes to mind. However, there are a variety of types of planned gifts instead of cash, including: Life insurance Personal property Other real estate Retirement plans Should I be […]
July 13, 2018

Ending the Stigma: Fundraising is Sales

Nonprofit professionals don’t like to compare their work to that of the for-profit world. And it makes sense: nonprofits exist primarily to help those in need, and for-profit organizations exist primarily to make money. However, certain aspects of nonprofit work truly are synonymous with for-profit practices, even if they’re called something different. A perfect example is fundraising. Or, in for-profit terms, sales. That’s right: fundraising is sales. Again, it’s easy to see why fundraisers are […]
July 11, 2018

[PODCAST] What’s Next? with Steven Shattuck

We’re so excited to announce our new Hubcast series, What’s Next? We’re taking a bit of a different approach this time around, and we really think you’re going to love it. Our mission is still to provide premium education, so, just like our previous podcasts, education is at the center of it all. On each episode of What’s Next? we’ll invite a nonprofit thought leader on the show to discuss the future of our industry with Nonprofit Hub’s executive director, Randy Hawthorne. […]
July 7, 2018

Identifying the Value of Nonprofit Customer Experience

Deep down, nonprofits begin from the same place: a need to propel change. As organizations grow, the mission is seemingly the primary driver behind recruiting support. However, don’t assume the mission alone will sustain that connection—organizations should never lose sight of customer experience. Though nonprofits tend to speak less about branding than for-profits do, they’re still bound by branding rules. Unfortunately, many nonprofits don’t lean on customer experience to enrich their brands—and it’s costing them. According […]