As part of its objective to help nonprofits thrive, the Princeton Area Community Foundation recently held a seminar for nonprofit staff and board members to help them learn more about incorporating planned gifts programs into their own fundraising.
Sally Cross, the current principal of SJ Cross Consulting and a former planned gift officer and former president of a New York-based community foundation, spoke to more than three dozen nonprofit staffers and board members about creating effective planned giving programs. Educational support is one of the ways the Princeton Area Community Foundation works to help strengthen nonprofits.
Here is her advice about planned gifts:
- Some nonprofit organizations fear that planned gifts will reduce annual gifts, but that’s not true: Most planned giving donors increase their annual giving and making a planned gift increases donor retention.
- Planned gifts are donations made from assets, not cash. Planned gifts can be current gifts, such as appreciated securities or qualified charitable distributions (QCD) from an individual retirement account (IRA).
- Planned gifts can also be deferred – given as part of an estate plan, as a bequest in a will or trust or as a beneficiary designation on non-probate accounts.
- More than 90 percent of planned gifts are simple, but the opportunity to get those gifts is unprecedented because more than $80 trillion will be passed down from Baby Boomers to younger generations next two decades.
- The average charitable bequest is $82,000, and donors often increase their annual gifts after adding a charity to their estate plan.
- The best prospects for planned gifts are already connected to your organization, including long-time donors, board members and volunteers.
- Ask donors to remember your organization in their wills or trusts and include bequest language on your website’s “ways to give” page.
- Include your organization’s Tax ID number on your materials and your website.
- Recognize your planned giving donors by creating or growing your legacy society and listing their names with their permission.
- Reach out to the Community Foundation staff for help!
Contact Us
The team at the Community Foundation looks forward to working with you and your clients who are corporate executives, or even local small business owners, who are excited to give back to the community where they’ve built businesses and developed lasting relationships with employees and customers.
Marcia Shackelford, Chief Philanthropy Officer, at mshackelford@pacf.org
