Even more insight into the words and phrases that ... · 7. make a gift by naming a charity as death beneficiary of your IRA or retirement account 8. make a gift by naming a charity

Evenmoreinsightintothewordsandphrasesthatencourageinterest

inplannedgifts

ProfessorRussellJamesIII, J.D.,Ph.D.,CFP®TexasTechUniversity

Iwanttolearnmore!

Howshouldyoudescribetheseinawaythatpeoplearemostinterestedinlearningmore?• CGAs• Generalplannedgivinginformation• Bequestgifts• Generalestateplanning• Taxbenefits

Howshouldyoudescribetheminawaythatmorepeopleactuallyunderstandwhatyoumean?

Iwantoneofthose!WhatelementsofaCGAadvertisementmakethemostpeoplewanttogetone?• Describingthemas

what“you”woulddoorwhatanotherdonorhasdone?

• Usingtextaloneortextwithpictures?

• Usingpicturesofdonorsorotherpictures?

• Whatageshouldyourpictureddonorbe?

AppreciativeInquiryWhatpreliminaryquestionswerebestatincreasinginterestintheorganizationandwillingnesstogiveorleaveabequest?

Testedwithenvironmentalconservationnonprofits

Howdoyousay“CGA”sothatpeoplewillwanttoknowmore?

Supposeyouareviewingthewebsiteofacharityrepresentingacausethatisimportantinyourlife.Inadditiontoa“DonateNow”button,thefollowing

buttonsappearonthewebsite.Pleaserateyourlevelofinterestinclickingonthebuttontoreadthecorrespondinginformation.

(1) IamdefinitelyNOTinterested(2) Idon’tthinkIwouldbeinterested(3) Idon’tknowifIwouldbeinterested(4) Imightbeinterested(5) Iamdefinitelyinterested

CharitablegiftannuitiesLifeincomegiftsGetataxdeductionandmakeagiftthatpaysyouincomeforlifeGiftsthatpayyouincomeforlifeGiftsthatpayyouincome

Iamdefinitelyinterested

__%__%__%__%__%

Survey#1:2,550respondentsassignedto5differentsurveys


5%9%26%28%29%



Doesthisdifferforpeopleofdifferentages,orforpeople

whomakesubstantialdonations

tocharity?


IamdefinitelyinterestedAll5%9%26%

28%

29%

55+4%11%22%

25%

23%

$1k+5%10%26%

27%

26%

GroupDifferencesDonor

Survey#2(2,750respondents)

Isthereabettervariationof“Giftsthatpayyouincome”?

GiftsthatpayyouincomeGiftsthatpayyouguaranteedincomeGiftsthatpayyouGiftsthatpayyouincomeandavoidtaxesGiftsthatpay


__%__%__%__%

__%


GiftsthatpayyouincomeGiftsthatpayyouguaranteedincomeGiftsthatpayyouGiftsthatpayyouincomeandavoidtaxesGiftsthatpay


30%30%29%26%

24%


Whatdoesitmean?

Whenyouclickonthephrase,whatdoyouthink

youaregoingtosee?

Whichofthefollowingtypesofinformationwouldyouexpectwhenclickingonthebuttonlabeled"__[CGATerm]__"

(1) IdefinitelydidNOTexpectthis(2) Ididn'treallyexpectthis(3) Idon'tknowifIexpectedthis

ornot(4) IguessIexpectedthis(5) Idefinitelyexpectedthis

“Howtomakeagiftand,inreturn,receivelifetimeincomefromthecharity”

CharitablegiftannuitiesLifeincomegiftsGiftsthatpayyouincomeGetataxdeductionandmakeagiftthatpaysyouincomeforlifeGiftsthatpayyouincomeforlife

Idefinitelyexpected

this

__%__%__%__%__%


Whichofthefollowingtypesofinformationwouldyouexpectwhenclickingonthebutton

labeled"_______"

CharitablegiftannuitiesLifeincomegiftsGiftsthatpayyouincomeGetataxdeductionandmakeagiftthatpaysyouincomeforlifeGiftsthatpayyouincomeforlife

15%24%30%31%34%

“Howtomakeagiftand,inreturn,receivelifetimeincomefromthecharity”Idefinitelyexpected

this

Whichofthefollowingtypesofinformationwouldyouexpectwhenclickingonthebutton

labeled"_______"

CharitablegiftannuitiesLifeincomegifts

Getataxdeductionandmakeagiftthatpaysyou

incomeforlifeGiftsthatpayyouincome

forlifeGiftsthatpayyouincome

Iamdefinitelyinterested__%__%__%

__%__%

Idefinitelyexpectedthis

__%__%__%

__%__%


CombinedResults

CharitablegiftannuitiesLifeincomegifts

Getataxdeductionandmakeagiftthatpaysyou

incomeforlifeGiftsthatpayyouincome

forlifeGiftsthatpayyouincome

Iamdefinitelyinterested5%9%26%

28%30%

Idefinitelyexpectedthis15%24%31%

34%30%


CombinedResults

Previousfinding(2014survey)

InterestedNow

50%

23%

WillNeverBe

Interested

8%

19%

2014Survey,1,418Respondents,GroupF/G

Receiveataxdeductionandmakeagiftthatpaysyou

incomeforlife

Receiveataxdeductionandmakeagiftthatpaysyou

incomeforlifecalleda“Charitable

GiftAnnuity”

Whatisthebest“frontdoor”phrasetomakepeoplewanttoreadmorePGinfo?

Theyhavetobeinterestedinfindingout

more

Whatisthebest“frontdoor”phrasetogetpeopletoreadaboutplannedgivinginformation?

Theyhavetoexpecttoseeplannedgivinginformation(i.e.,not“baitandswitch”)

Theyhavetobeinterestedinfindingout

more

Supposeyouareviewingthewebsiteofacharityrepresentingacause

thatisimportantinyourlife.Inadditiontoa

“DonateNow”button,thefollowingbuttonsappearonthewebsite.Pleaserateyourlevelofinterestinclickingonthe

buttontoreadthecorrespondinginformation.


GiftplanningPlannedgivingGivingnow&laterOtherwaystogiveOtherwaystogivesmarterOtherwaystogivecheaper,easier,andsmarter


__%__%__%__%__%__%

Survey#1:2,550respondents



3%4%7%16%20%23%


Survey#2(2,750respondents)

Isthereabetterwaytophrase,“Otherwaystogivecheaper,easier,andsmarter”?

OthergiftsMorewaystogiveGiveotherwaysHowtogivecheaper,easier,andsmarterOtherwaystogivecheaper,easierandsmarter


__%__%__%__%

__%


OthergiftsMorewaystogiveGiveotherwaysHowtogivecheaper,easier,andsmarterOtherwaystogivecheaper,easierandsmarter


8%14%15%21%

22%



Theyhavetoexpecttoseeplannedgivinginformation(i.e.,not“baitandswitch”)Whichofthefollowing

typesofinformationwouldyouexpect

whenclickingonthebuttonlabeled"_______"

1. makeagiftofstocks2. makeagiftofbonds3. makeagiftofrealestate4. makeagiftinyourwill5. makeagiftinyourlivingtrust6. makeagiftbynamingacharityasdeathbeneficiary

ofyourlifeinsurancepolicy7. makeagiftbynamingacharityasdeathbeneficiary

ofyourIRAorretirementaccount8. makeagiftbynamingacharityasdeathbeneficiary

ofyourbankaccount9. makeagiftand,inreturn,receivelifetimeincome

fromthecharity10.avoidcapitalgainstaxesbymakingcharitablegifts11.avoidestatetaxesbymakingcharitablegifts12.avoidincometaxesbymakingcharitablegifts

Whichofthefollowingtypesofinformationwouldyouexpectwhenclickingon

thebuttonlabeled"_______“?Howto…

12typesofplannedgivinginformation


Idefinitelyexpectedthis__%__%__%__%__%__%

Overallaverageforall12typesofplannedgivinginformation


Idefinitelyexpectedthis20%12%7%15%19%12%

Overallaverageforall12typesofplannedgivinginformation

GiftplanningPlannedgiving

Givingnow&laterOtherwaystogive

OtherwaystogivesmarterOtherwaystogivecheaper,

easier,andsmarter


3%4%7%16%20%23%

Idefinitelyexpectedthis

20%12%7%15%19%12%

12typesofPGinfoaverage

CombinedResults

Shouldyoureferencetaxbenefits?Howshouldyoudoso?

InterestedNow

50%

33%

31%

WillNeverBe

Interested

8%

14%

20%

2014Survey,1,904Respondents,GroupsD/E/F

Receiveataxdeductionandmakea

giftthatpaysyouincomeforlife.

Makeagiftthatpaysyouincomeforlifeand

receiveataxdeduction.

Makeagiftthatpaysyouincomeforlife.


InterestedNow

50%

31%

WillNeverBe

Interested

8%

20%

2014Nov.Survey,1,006Respondents,GroupsX/Y

Avoidcapitalgainstaxbymakingagiftofstocksorbondstoa

charity.

Makeagiftofstocksorbondstocharity.


AvoidtaxesbygivingstocksHowtoavoidtaxesbygivingstocksSavetaxesbygivingstocksTaxtipswhengivingstocksAvoidingcapitalgainstaxesbygivingstocksGivingstocks

Imightbe/am

definitelyinterested

__%__%__%__%__%__%

Pleaserateyourlevelofinterestinclickingonthebuttontoreadthecorrespondinginformation.

AvoidtaxesbygivingstocksHowtoavoidtaxesbygivingstocksSavetaxesbygivingstocksTaxtipswhengivingstocksAvoidingcapitalgainstaxesbygivingstocksGivingstocks

Imightbe/am

definitelyinterested

28%27%25%24%24%16%

Pleaserateyourlevelofinterestinclickingonthebuttontoreadthecorrespondinginformation.

Howshouldyousaythatyouwanttoshareinformationaboutmakingagiftinawill?

GiftsinwillsGiftsinawillTaxtipsforgiftsinawillHowtomakegiftsinawillGiftsinyourwillWillplanningBequestgifts

Imightbe/amdefinitelyinterested

__%__%__%__%__%__%__%

GiftsinwillsGiftsinawillTaxtipsforgiftsinawillHowtomakegiftsinawillGiftsinyourwillWillplanningBequestgifts


26%26%27%27%28%28%18%

InterestedNow

23%

12%

WillNeverBe

Interested

12%

14%

2014Survey,1,246Respondents,GroupsD/E

Makeagifttocharityinmywill

Makeabequest gifttocharity


InterestedNow

12%

9%

WillNeverBe

Interested

26%

31%

2014Survey,1,203Respondents,GroupsD/C

Makeagiftbynamingacharityasatransfer-on-deathbeneficiary onabankaccountorretirement

account.

Makeabequest giftbynamingacharityasa

beneficiaryonabankaccountorretirement

account.

Don’tuse“Bequest”

Whataboutbroaderestate

planningterms?

WillplanningLegacyplanningLegacygivingPlanningwithtrusts&estatesEstateplanningEstategiving


__%__%__%__%__%__%

WillplanningLegacyplanningLegacygivingPlanningwithtrusts&estatesEstateplanningEstategiving


28%18%18%17%16%14%

Insteadofabroadestateplanningterm,whataboutalonglistof

severalterms?

GiftsinwillsGiftsinwills,trusts,orretirementaccountsGiftsinwills,trusts,retirementaccounts,orlifeinsuranceGiftsinwills&trusts


__%__%

__%__%

GiftsinwillsGiftsinwills,trusts,orretirementaccountsGiftsinwills,trusts,retirementaccounts,orlifeinsuranceGiftsinwills&trusts


26%25%

24%23%

Dopeopleexpecttoseeabroadrangeofestateplanninginformation?

1. Howtomakeagiftinyourwill2. Howtomakeagiftinyourlivingtrust3. Howtomakeagiftbynamingacharityasdeathbeneficiaryofyourlifeinsurancepolicy

4. HowtomakeagiftbynamingacharityasdeathbeneficiaryofyourIRAorretirementaccount

5. Howtomakeagiftbynamingacharityasdeathbeneficiaryofyourbankaccount

1. Makeagiftinyourwill2. Makeagiftinyourliving

trust3. Makeagiftbynaminga

charityasdeathbeneficiaryofyourlifeinsurancepolicy

4. MakeagiftbynamingacharityasdeathbeneficiaryofyourIRAorretirementaccount

5. Makeagiftbynamingacharityasdeathbeneficiaryofyourbankaccount

Giftsinwills

82%49%

51%

48%

52%

EstatePlanning

64%53%

48%

46%

46%

Giftsinwills,trusts,retirementaccountsorlifeinsurance

80%76%

63%

59%

50%

Idefinitely/guess I

expectedthis

1. Makeagiftinyourwill2. Makeagiftinyourliving

trust3. Makeagiftbynaminga

charityasdeathbeneficiaryofyourlifeinsurancepolicy

4. MakeagiftbynamingacharityasdeathbeneficiaryofyourIRAorretirementaccount

5. Makeagiftbynamingacharityasdeathbeneficiaryofyourbankaccount

Giftsinwills

82%49%

51%

48%

52%

EstatePlanning

64%53%

48%

46%

46%

Giftsinwills,trusts,retirementaccountsorlifeinsurance

80%76%

63%

59%

50%

Imightbe/amdefinitelyinterested26% 16% 24%

TestingCharitable

GiftAnnuityAdMessages

What“you”woulddoorwhatanotherdonorhasdone?

Pleaserateyourinterestinpursuingtheabovedescribedcharitablegivingarrangement

InterestedNowDefinitely/somewhat/slightly

All:____%55+:____%

All:____%55+:____%

Pleaserateyourinterestinpursuingtheabovedescribedcharitablegivingarrangement

All:38.6%55+:38.6%

All:33.5%55+:23.2%

InterestedNowDefinitely/somewhat/slightly

What“you”woulddoorwhatanotherdonorhasdone?

Textonlyortextanddonorpicture?

All:___%55+:___%

All:___%55+:___%

Pleaserateyourinterestinpursuingtheabovedescribedcharitablegivingarrangement:%Interestednow(definitely/somewhat/slightly)

Textonlyortextanddonorpicture?

All:38.6%55+:38.6%

All:31.1%55+:29.8%

Pleaserateyourinterestinpursuingtheabovedescribedcharitablegivingarrangement:%Interestednow(definitely/somewhat/slightly)

What’stheproblemwiththedonorpicture?Isitjustthisphoto?Thisdonorage?Isitphotosingeneralorwhat?

55+___%

___%

___%

Interestednow(definitely/somewhat/slightly)

35-54___%

___%

___%

U-35___%

___%

___%

55+24.4%

22.0%

41.1%

Interestednow(definitely/somewhat/slightly)

35-5438.4%

47.4%

30.6%

U-3544.5%

32.6%

30.2%

Howdothesecomparewithtextonlyoranon-donorphoto?

55+

1st44.4%

3rd28.3%

24.4%22.0%41.1%

Interestednow(definitely/somewhat /slightly)

YoungMiddleOlder

35-54

3rd40.1%

2nd44.6%

38.4%47.4%30.6%

U-35

3rd34.7%

2nd36.4%

44.5%32.6%30.2%

All

1st40.1%

2nd36.5%

35.8%34.0%34.0%

AgematcheddonorpicturesareOK

Otherwise,usetextonlyoradifferentpicture

Socialnormsaremorepowerfulwhentheexamplesarelikeme

YoucansupportGolomolo bydonating20Swedishcrowns.73%ofLinnaeusUniversitystudentswhowere

askedforacontributionhavedonated20SwedishcrownstoGolomolo.

YoucansupportGolomolo bydonating20Swedishcrowns.73%ofUniversitystudentsinSwedenwhowereaskedforacontributionhavedonated20SwedishcrownstoGolomolo.

YoucansupportGolomolo bydonating20

Swedishcrowns.

Agerström,J.,Carlsson,R.,Nicklasson,L.,&Guntell,L.(2016).Usingdescriptivesocialnormstoincreasecharitablegiving:Thepoweroflocalnorms. JournalofEconomicPsychology, 52,147-153.

AvoiddeathlanguagePreviousfindings

• Peoplearelessinterestedin“makeagifttocharityinmylastwill&testamentthatwilltakeeffectatmydeath”thanwhenthefinalphraseisremoved.

• Storiesoflivingbequestdonorsaremoreinfluentialthanotherwiseidenticalstoriesofdeceasedbequestdonors

NewfindingReplacing“iftheannuityholderlives

uptodifferentages”with

“dependingontheagewhenthe

annuityholderdies”and“eachyearyoulive”with“untilyoudie”reducesthoseinterestedinpurchasinganannuityfrom36%to26%.Solving theannuitypuzzle:Theroleofmortalitysalienceinretirementsavings decumulationdecisions, Journal ofConsumer Psychology,2016(forthcoming), L.C.Salisbury & G.Y.Nenkov

Preliminaryreminderquestionsthatincreasedwillingnesstogiveto

environmentalconservationorganizations

FamilyConnectionsDoyouhavemoreorlessthantwofamilymemberswhoconsiderconservingthenaturalenvironmenttobeimportant?

Werethereanyfamilymembersinyourlifewhowereparticularlyinfluentialinshapingyourviewsontheimportanceofnature

conservation?(Checkanythatapply)__Grandmother __Grandfather__Aunt __Uncle__Mother __Father__Sibling__Otherfamilymember

Increasedratingoforganizationalimportanceandwillingnesstodonate,butnottoleaveabequest(withouta

tributemechanism).

Inanearliersurvey,1in4increasedtheirintentiontoleaveacharitablebequestwhengiventheoptionto“honorafriendorfamilymemberbymakingamemorialgifttocharityinmylastwill&testament”

Simplelanguageandstartingwithhonor

InterestedNow

32%23%13%

WillNeverBe

Interested

11%17%21%

2014Survey,1,961Respondents,GroupsY/B/H

Honorafamilymemberbymakingatribute gifttocharityinmywill

Honorafriendorfamilymemberbymakingamemorial giftto

charityinmylastwill&testament

Makeabequest gifttocharityinmylastwill&testamentinhonorofafriendorfamilymemberwhowaspassionateaboutthecharity'swork

Domemorial ortributebequestsworkbetter orworsefordifferentfamilymembers?

Ascendants– YesFriendsanddescendants- No

multivariateregressionsonintentionoverallandpost-reminderchange

Strongpositive1. Grandmother2. Grandfather3. Grandparents4. Aunt5. Uncle6. Mother

StrongnegativeFriendGirl/BoyfriendDaughterBoy/BoysGirl/GirlsKidsNephewBrother

Werethereanyfamilymembersinyourlifewhowereparticularlyinfluentialinshapingyourviewsonthe

importanceofnatureconservation?

MorewillingtogiveorbequesttoconservationNPOGrandmotherAuntMother

NotstatisticallysignificantGrandfatherUncleFather

Ifyouhappenedtocompleteanewwillinthenext3months,whatisthepercentagelikelihoodyoumightleaveaBEQUEST

giftto[org]?1,125participants

Thisincreasedratingoforganizationalimportance,willingnesstodonate,andleaveabequest,butwasnotthe

strongestreminderforeithergivingorbequest

LegacyQuestionsPleaseratetheimportancetoyouofthefollowing(1) Beingagoodexampleforthe

nextgeneration.(2)Makingalastingimpactinthe

world.(3)Insuringthatyourvalueswillberememberedbyfuturegenerations.

Thisgeneratedthestrongestintentiontoleaveabequest.But,allreminderssetscombinedwerebetterthananyone

setbyitself

LifeQuestionsAtwhatagedidyoufirstbegintothinkabouttheimportanceofconservingthenaturalenvironment?__childhood__highschool__my20s__my30sorlaterWhichofthefollowinghavebeenimportantinyourlife?

TimeIhavespentoutdoorsTimeIhavespentonariverTimeIhavespentinaforest

TimeIhavespentonalakeMylifeexperienceswithwildlifeMylifeexperienceswithwildbirdsMylifeexperienceswithtreesandplants.

Evenmoreinsightintothewordsandphrasesthatencourageinterest

inplannedgifts

ProfessorRussellJamesIII, J.D.,Ph.D.,CFP®TexasTechUniversity

Documents

Even more insight into the words and phrases that ... · 7. make a gift by naming a charity as death beneficiary of your IRA or retirement account 8. make a gift by naming a charity