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Planned Giving Best Practices for Small Shops

Presentation to the CAGP National Conference, April 2014

Leah Eustace

on 9 April 2014

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Transcript of Planned Giving Best Practices for Small Shops

Amount of bequest dollars to charity is multiplying
If you start a planned giving program today, 10-15 years from now you might see your total annual fundraising revenue increase by 50% or more
Planned gifts are, on average, 100x larger than annual gifts
The vast majority of donors *expect* you to ask

But...donors are unlikely to make a bequest to you unless they are asked

Planned Giving
Best Practices for Small Shops

What do you need in place?
Base of support
Buy in
Base of support
Stuff you already have
Making the case
The fundamentals
4 prospect criteria
Marketing best practices
3 best marketing tools
What donors tell us
Projections calculator
Q & A
Profile of a bequest donor
Childlessness is the single strongest predictor of including a charitable bequest in one's estate plans (and childlessness is increasing)
Higher levels of education are associated with higher levels of bequests
Both giving *and* volunteering are indicators
Bequests most likely at ages 55+
Unmarried have less weath, but generate more bequests
Estate givers may not be your donors, but they often used to be!
What's in a name?
Who are your best prospects?

Making the case
What do we know about marketing to these groups?
Leah Eustace, ACFRE . Good Works . @LeahEustace
Myth busting
We can't afford it
Planned giving is only for older donors
You need to be a technical expert
Planned gifts will take away from our annual giving and our capital campaign
It's too much work
Small Shop Planned Giving Budget
(Assume 500 prospects )

Staff time $3,000
Materials $1,000
Mailing $3,000
Professional Development $500
Legal Counsel $2,000
Donor visits $500
Event $500
TOTAL $10,500
Calculating revenue
a. # of donors on file:
_____ (general pop)
b. # of donors who have given for five of the last seven years _____
c. # of monthly donors who've been on file for 12 months or more (not including those in 'b' above): _____
d. # of donors using honorific 'miss': _____
e. # 'other' prospects: _____
f. Total suspects:
_____________ (b+c+d+e) (suspects)
g. Total suspects you can cultivate:
_____ (prospects)

General Population = _____
Suspects = _____
Prospects = _____
Leah Eustace, ACFRE
Chief Idea Goddess
Good Works, Ottawa
3 Marketing Tools
Donor testimonial letter
(try Animoto, GoAnimate, iMovie...)

Check out www.seva.ca
And a few more
Projecting Revenue
Step 1:
Step 2:
Making the case
Getting buy in
What fundamentals do you need to have in place in order to be successful?
Can someone dedicate at least a little bit of time to this?
Do you have a gift acceptance policy?
Do you have a handle on basic stewardship and cultivation?
Do you have something to send those making an inquiry?
Do you have a network of advisors and/or other fundraisers?
Do you know your case?

Do you have a base of donors who have given for a while? It doesn't really matter how much
You need to involve both your staff and board:
base your arguments on vision and mission
know what you’re going to ask of them in terms of support
present a picture of the financial future
focus on why vs what
be clear on the long-term nature of the pay-off
Source: Dr. Russell James
Let's talk
Full transcript