The,Case,For,Planned,Giving,Of business, insurance The Case For Planned Giving
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Often professionals understand the need for planned giving, but meet resistance from board members who are unsure about how it works or its benefits to the organization. I cannot emphasize enough how important the support of your board members is to reaching your goals and achieving success. Below are some points that may help your efforts to convince the board.Why Limit Ways for Donors to Make a Gift?Planned giving is yet another way for donors to make a charitable gift. Most often it is a gift from assets rather than cash flow. As such, it's usually a major gift and compliments rather than competes with other forms of giving, like with an annual campaign.Competition with Other NonprofitsPlanned gifts are gaining popularity with donors every day. More and more charities now offer these opportunities as a way to give. Donors' awareness of these options have also increased and they find them attractive. So if you're not offering these opportunities, your donors may end up giving these gifts to other nonprofits.Strengthened Credibility and SustainabilityPlanned giving reinforces your organization's image of current and long-term stability, and it projects a sense of permanence because it speaks to long-term planning, competitive activity and donor heartfelt giving. Even if your mission is to "find a cure," the receipt of bequests and other planned gifts may speed the process with the extra revenues received.Guaranteed Cash FlowAs a planned giving program grows, there is more opportunity to plan for the future, recognizing that "unbudgeted" funds will definitely be forthcoming. For now it may also be easier for donors to make deferred gifts, which is a true reinforcement of loyalty and larger gifts in the future. And, it's always possible the occasional "surprise bequest" might amaze you by its amount as well as by who made the gift. In this very difficult fundraising environment, one of my clients received an unexpectedly large bequest, which saved programs and jobs.Endowment GrowthPlanned gifts are one of the best ways to ensure endowment growth without worrying about the securities markets. It is guaranteed cash flow that enables nonprofits to grow endowment funds without taking a percentage from current annual or capital campaign gifting.Donor RetentionWhen properly stewarded, donors are extremely loyal. Many are grateful they were able to improve their own financial situation just by being generous. Those who include a charity in their will or trust, or in some other way leave a bequest, are saying the charity has reached "family" status in their hearts. Generally, their current giving improves, too, as does their volunteerism.Your Board Still Won't Budge?If you're meeting serious resistance, see if there are board members who have already arranged for planned gifts to your organization. They may be interested in helping you bring other board members around to a more positive attitude. You can also provide statistics from Giving USA 2009, such as the $22.6 billion raised through planned gifts during 2008. Give examples of nonprofits similar to yours that are making headway in planned giving. Remember, the best time to start a planned giving campaign is always now, even if it doesn't appear urgent. If not now, when? Article Tags: Planned Giving, Board Members, Planned Gifts
The,Case,For,Planned,Giving,Of