Legacy Giving in Your “Spare” Time

An outcomes-based approach to attracting long-term support

Greg Lassonde, CFRE

Legacy Giving Specialist

(510) 482-1502

greglassonde.com

legacygiving.com

I. Why

II. How

III. Random Questions

“Why” Overview

• Tremendous Revenue Opportunity

• Legacy Giving Building Blocks

Philosophy

• Why Legacy Giving is Important

• Common Obstacles to starting a

program

• Why People Create Legacy Gifts

• Measuring Success

Define Legacy Giving?

• To convey one's values through

creation of a future gift to charity

• A foresighted action to strengthen a

favorite cause

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Legacy Gifts

• Provide future support for charity

(sometimes current)

• Are contributions:

– by will

– trust

– other forms of written designation

– life-income arrangements

– endowment gifts

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Legacy Gifts

• Are created by:

– Any individual

– At any point in his / her life

Simple & Easy Via Beneficiary

Form

• Savings account

• Checking account

• Stocks or bonds

• IRA or pension

• Life Insurance policy

More Complicated Types

• Will or living trust

• Charitable gift annuity

• Life income trust

• Many others

Tremendous Opportunity

• Seven out of ten Americans make gifts to charity during their lifetime.

• Yet fewer than one in ten leaves a gift to charity in their will or trust. Why?

• Because most people have never been asked!

Building Blocks Philosophy

• Emphasize sustainability and resource

management

• Describe long-term objectives and outcomes

• Engage volunteers, supporters and staff

• Focus on relationships, not techno-babble

Building Blocks Philosophy

• Express ongoing appreciation of legacy

donors

• Communicate how legacy giving impacts

mission

• Simple plan, consistently applied

Why Encourage Legacy Gifts?

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Why Legacy Gifts Are Important

• Almost everyone is a prospect

• For most people it’s the largest gift they

make

• It has the lowest cost of fundraising

• Legacy donors make larger annual gifts

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Why Legacy Gifts Are Important

• Only a small percentage of donors asked

• Wide variety of options, many easy to

create

• Only revenue that increases during

recession

• Staggering transfer of wealth in next 50

years

Common Obstacles to

Starting a Program• Uncertain why it’s important

• Subject matter perceived to be too difficult

• Concern it takes a lot of staff time

• Fear that it requires a large budget

• Misconception that only wealthy create

them

• Unsure how to obtain board / staff support

We’ll Start a Program …

What Does Your Organization

Need To Build A Program?

• Understand why legacy giving is important

• Willingness to talk with others

• Commitment to celebrate legacy gifts and the individuals who create them

Why People Create Legacy Gifts

• Express appreciation to a charity that served

them

• Support and sustain organizations they care

about

• Reflects a cultural, ethical or religious value

• Meets a need of the community

Why People Create Legacy Gifts

• Memorialize themselves or a loved one

• Serves as an example to future generations

• Creates something of beauty

• Accomplishes planning and financial benefits

Measuring Success• Annual goal for people who raise their hands

– One-on-one conversations

– Direct response

• Recruitment goal for your legacy donor society

• Legacy giving = organizational priority, not development office responsibility

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Building Blocks

• Mission, Legacy Giving & Endowment– Understanding why legacy giving is important

• Case– Describing how legacy giving will help your

organization

• Leadership– Involving board and staff leadership in your program

• Prospects– Identifying and approaching the best supporters

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Building Blocks

• Stewardship– Fostering and supporting relationships with

those who have committed

• Communications and Marketing– Sharing your story and promoting

opportunities

• Program Plan– Defining and building a plan for sustainable

revenue

Why Building Blocks Works

• Easy to understand

• Defines legacy giving goals

• Focuses on engaging staff and volunteer

leaders

• Simple prospect education & cultivation

strategies

Why Building Blocks Works

• Emphasizes stewarding relationships

• Promotes outcomes-based communication

• Straightforward plan, consistently applied

over time

• Create culture that values long-term

support

A. Prepare for and Develop Your Case

B. Launch Your Bequest Program

C. Additional resources

II. How

A. Prepare for and Develop Case

• Organizational long term

commitment

• Determine your market

– Major donors = MINORITY

– Smaller donors = MAJORITY

• Ask peer’s, “What’s working?”

A. Prepare for and Develop Case

• Volunteer and staff “buy in”

– Development, administration, finance

– Board officers, committees

• Be prepared to spend $ (even a

little)

– Basic brochure

– Donor Recognition

A. Prepare for and Develop Case

• Draft a case statement

– Specific / unique needs for

endowment

– Dollars needed

• For what

• By when

– Work through committees / board

• Gift(s) at each stage

A. Prepare for and Develop Case

• Board resolution

– Committee structure

– Ethics (Model Standards of Practice)

– Vehicles permitted

– Gift uses

• Endowment

• Endowment & capital

• Spend it now? (sometimes)

B. Launch Bequest Program

• Start with key volunteers

• Utilize direct response opportunities

– Newsletter

– Direct mail checkbox

– Acknowledgement slip

– Bequest Mailing

• Brochure

B. Launch Bequest Program

• Prompt Response to Inquiries– General letter with handouts

– Follow up phone call(s)

• Legacy Giving Committee

– Volunteers make the gift

B. Launch Bequest Program

• Legacy Giving Committee

– Members make the gift

– You staff volunteer efforts

• scripts and other materials

• regular contact

• reward success

• spread the word

B. Launch Bequest Program

• Recognition society

– Personal name / key word

– Welcome letter, enrollment form,

certificate

– Annual event

• Promote designations

– Insurance, retirement plan / IRA,

checking, saving, stocks / bonds

C. Additional resources

• Partnership for Philanthropic Planning– Journal of Gift Planning

• Northern CA Planned Giving Council– Basics Course, Primer Program,

Annual Conference Fundamentals Track

• Planned Giving Today

C. Additional resources

• Planned Giving: Management, Marketing and Law; Second Edition

• The Complete Guide to Planned Giving; Revised Third Addition

Thank You!

For more information and resources:

www.greglassonde.com

www.legacygiving.com