The practicalities of bequests

This session: Practicalities of Bequests

1.Prospecting2.Asking3.Stewarding

Prospecting

Promotion• Repetition• Clear, concise

messaging• Focus on

impact (not just how to)

• Make it easy to pursue

Prospecting

Tools to aid promotion• Your Bequest proposition

Prospecting

• Bequest proposition– Vision for the future – what will bequests be

used for?– Present the need, problem or opportunity?– Does it offer a solution?– Does it consider the timing (a bequest is for

the future not now)?– Does it present a benefit to the donor?– Is it emotional and unique?

Prospecting

Tools to aid promotion• Your Bequest proposition• Show (potential) impact

– How have bequests impacted your beneficiaries in the past?

– Don’t have any examples? Speculate – what could bequests achieve?

Education is an important part of the Home’s work, so a dedicated building to host school, community and industry groups was in great need.

Thelma Hoult’s generous bequest, earmarked for such a project, has resulted in the new Thelma Hoult Training and Education Centre in Gracie Street.

With a fully-equipped auditorium and much-needed office space, the Centre will provide training and information sessions on all aspects of responsible pet ownership and animal care for the public and industry professionals.

Newsletter Article

Donor Care Letter

Prospecting

Tools to aid promotion• Your Bequest proposition• Show potential impact• Testimonials from bequestors

ProspectingDemographicDate of birthPostcode analysisSurvey responsesContact details providedGenderTitleAddress type

BehaviouralLength of involvement

Supporter typeRecruitment source

Regular giverMembership

Type of service used

Prospecting

Behavioural approach• Active (last 12 months)• Multi givers• High Value

Prospecting

Can’t Take It With You• Statistical model analysing behaviours of existing

confirmed bequestors• Donor database filtered using model to identify

40k best prospects• Direct mail pack with phone follow up

– 90 confirms via mail– 28 confirms via phone follow up– 152 leads generated– $40k cash donations

Prospecting

Geo-demographic approach• Educated• Married, widowed, divorced• Have children / Don’t have children• Affluent

Prospecting

Everyone filtering approach• Surveys

Prospecting

Asking

• First ask yourself – what am I asking for?– What is your proposition?– Residual – why?– Why this supporter?

• Second ask yourself – how engaged is the audience?

Engaged + Promotion = better conversations & responses to asks

Asking

AICR: http://www.sofii.org/showcase-item?hall=0&id=26&pos=13Scope UK: http://share.scope.org.uk/

Engagement Opportunities

Asking

• High touch• Personalised

Asking

Guide to asking face-to-face (or on the phone)

• Know as much as you can about them

• Not at the expense of not making the ask

Asking•When/how did they make their bequest intention (how have they become a prospect)•How much have they given to the organisation•Date and amount of last/largest donation •How long have they been supporting your organisation•Do they volunteer•Are they/were they a board member•Do they know a board member/CEO•Have they been to events•Is there an area of your work in particular they support•Have they filled in a survey before•Have they shared their story

Asking

AskingPre Letter (opt out) Rich Fox “ Is this the best way to develop bequests?”• Thanks donors for their lifetime support and explains the organisation’s need

for bequests and charitable remainder trusts. The letter reminds prospects that many people don’t like to think about writing a will and thus, despite their best intentions, don’t adequately ensure that their wishes are carried out.

• Stresses that it is not a request for another contribution and then introduces the concept of the legacy programme. The letter explains that donors needn’t indicate the amount of money they intend to leave the organisation, merely that they should indicate that they intend to participate in the programme. An enclosed enrolment form also includes an opt-out box for prospects to declare they’re not interested.

• Explains that as soon as the organisation receives a donor’s enrolment form, his or her name will be inscribed immediately in a place of honour at the institution and will be published prominently among the organisation’s donors, to help motivate others to follow the example.

• Points out, finally, that the legacy programme is so important to the organisation’s future that a representative will call to explain the programme and answer questions – but only if donors do not return the enrolment form to indicate whether or not they’ll participate.

Asking

•Did they receive the letter /

remember previous

conversation / visit?

•Did their lawyer find the

wording useful?•Any further information

needed?•Have they had the

opportunity to make the

addition / changes

AskingFollow Up

Are you still considering a

bequest?Have you been to the

solicitor?Would you like help finding a

solicitor?What kind of bequest are you

considering?Are you intending to leave a

percentage of your estate or a

specific amount?

Asking

Asking for details• Should we ask to be notified of details?

“Would you consider providing details of the provision, or sending a copy of the section, so that we can help ensure your wishes are carried out”

“Talk to us about what you want a gift in your will to achieve”

Asking

To tick box or not to tick box?• Should you include a tick box on

appeal/other response forms?

– “Please provide me with additional information about making a bequest”

– “I have made a bequest”

Asking

To PS or not to PS?• Do you include a PS like the following on

your thank you letters?

– “Another way to increase our impact on the lives of the children we help is a bequest. Please remember us in your will.”

estsStewardship

Why bother?• Almost always revocable• Donors can revoke or change easily

(codicil or amendment)• Life-long, donor-led*, relationship to

ensure distribution

Stewardship

• Donor Centric• Targeted• High touch• Personalised• Continue their normal

communications

Stewardship

Distinctive Recognition• Not everyone wants to be publically

recognised• Not everyone wants to be ‘part of

the club’• Everyone wants to feel

remembered, valued and respected

Stewardship

Distinctive Recognition• To club or not to club?• It has to be real• You must seek permission to join up

a donor• Do not use it as the ask (please join

the X club)

RSPCA UK – Warm Audience• Legacy Predictor Model

–Age, tenure, engagement and postcode• ‘Handraiser’ packs

–Identify database prospects–Strategy driven by theory that older, low

value donors are great bequest prospects• ‘heritage’ focus

–2 or 3 pounds ask–3 commemorative postcards - incentive

RSPCA UK – Warm Newsletter• Twice annual newsletter

• enquirers and pledgers• high scoring donors against predictor model• Keep bequests front of mind

• Age specific versions• 65-75yrs and 75+• 75+ received a more overt bequest message

• Reply form and engagement device• Crossword or word sleuth• Send a message to the fundraising manager

• 74% of people in the UK support charities – only 7% make a bequest

• Will Guides are employed by most charities• Raise awareness of bequests• Explain how• Explain why• Emphasis on using a solicitor

• Provided to enquirers, intenders and pledgers• ‘Rational’ and ‘emotional’ sections

• Inform people how to leave a bequest and why they should choose the RSPCA

• Provides people with a physical item they an take to their solicitor

RSPCA Will Guide

Planning

• Plan well• Plan quick• Plan to measure

PlanningWhat to measure:• Confirms per year

– Estimated value of confirms– % of confirms

• Conversions per year• Bequests received

– Income / value– Type – Information about the donor (work hard to find

the link)

estsConversion targets Conversion targets

Confirmed

Bequest penetration

estsBequest Penetration

Planning

• Plan well• Plan quick• Plan to measure• Actually Ask

Planning

Before you ask:• Learn the basics• Be ready to efficiently and quickly accept

and respond to any requests for information made by prospects or confirms– And this may not be information specifically

about leaving a bequest• Be ready to efficiently and quickly accept

and respond to any notices of bequests

Practicalities

1.The relationship matters – who and how and when

2.You need to ask3.You need to remember (everything)4.The ‘Why’ needs to be inspiring, tangible

and related to why they support now5.Show impact6.Always remember they care about your

beneficiaries

Helpful Articles

• Bequest fundraising pure and simple– Why you should be investing in bequest fundraising

• The must do’s of bequest fundraising– Getting started

• Do you call your bequest prospects?– How the phone will impact your bequest program

• Can a killer curry improve your bequest program?– For and against ‘cold’ bequest marketing

• Fiona McPhee• fiona.mcphee@paretofundraising.com • Twitter: fimcphee• Phone: +6421 336 905• Web: www.paretofundraising.com

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