for Libraries Prepared by Christine Graham The Perfect Recipient of a Planned Gift When people plan a lifetime gift they usually want A long history and a familiar cause A ssured continuity ID: 295614
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Slide1
Planned Givingfor Libraries
Prepared by Christine Graham Slide2
The Perfect Recipient of a Planned Gift
When people plan a lifetime gift, they usually want:
A
long history and a familiar cause
A
ssured continuity
A welcome for all
Hope for the future
Happy memories
Comfort as we age
A sense of community
Conservative management of our hard-earned dollarsSlide3
Different kinds of gifts
The spontaneous gift
The recurring gift…
A current major gift…
A lifetime planned gift…. making a difference for the future…from accumulated assetsSlide4
The Organizational Life Cycle of GiftsSlide5
Planned Gifts
Planned Gifts are just tools.
Most important is the human spirit and the desire to give.
Prospects first think of their own lives and families….
Then,
w
ith a planned or lifetime gift, your donor thinks about the causes they have cared most deeply about.
You can’t rush the donor..
You can build a relationship, and be ready when they are.Slide6
Your prospect needs…
Personal awareness : of his own needs, family needs, community needs…
Financial awareness
Generosity
Commitment
to
libraries and community
A desire to create a legacySlide7
In making a Planned Gift,
your
d
onor
m
ight
r
eceive:
Thanks
Tax Deductions
Income during one’s life
Additional ways to give to family
Peace of mind
Preservation of property
Resolution of disputes
Friendship and Relationships
JOY!Slide8
How does this benefit you?
Security
Flexibility
R
eliable income
More ways to recognize your donors
Greater ability to plan
More?..
..learn to talk about this with your prospectSlide9
Your donor might consider an immediate gift:
S
tock and bonds, property: things one can decide today
Transfers from Retirement accounts,
Gifting of cash-value insurance policies
All with tax benefits for the donor now
.Slide10
An irrevocable (guaranteed) gift upon the donor’s death
A gift that also
provides the donor
lifetime income and tax advantages
:
Charitable Gift Annuities,
Charitable Remainder Trusts
Life Estates, such as a donor’s home with life tenancy
Life insurance with cash value, or where the organization owns the policy, during the donor’s lifetime.
(And the oddity among planned gifts: A Lead Trust where the nonprofit gets the income during the donor’s life, and the second generation heir inherits the Trust at the donor’s death.)Slide11
A Revocable Gift upon the donors’ death
Bequests:
Cash
Property
Life Insurance where the donor owned the policy but the nonprofit was the beneficiary
Proceeds from a TrustSlide12
What You Can Do
Create a Legacy Society
Know your donors!
Select gifts types you can encourage
Find a advisor or two
Develop simple materials
Identify likely prospects and send materials
Offer tours, meetings, and an occasional educational program
Include an article about planned giving in every newsletter and info on your website
Be ‘present’ with the info
Recognize and thank your planned giversSlide13
Build Your Resources even if they are modest…Slide14
….Create a Legacy Society
A way to keep your planned gift ‘
promisers
’ engaged and committed
A way to acknowledge gifts received
A way to make the program sociable, joyful and comfortable
A model for others to strive toward
A way to keep the organization committed too….even when the planned gift program is quiet
A formal means of setting planned giving GOALSSlide15
Identify Your Prospects, learn their storiesSlide16
Train Yourselves to Think About Planned Gifts and the Donors
Tell briefly about a person you think might be a prospect for your organization…..
What makes you think they might make a planned gift?
What more do you need to know about them?
How would you get to know this new information?
What do you think they might want to know?
How could you begin this conversation with them?Slide17
Typical Clues:
A prospect wants to give but doesn
’
t
‘
have cash
or ‘it is not a good time’
A donor has an opportunity to make money (‘a taxable event’) and would like to offset taxes
A donor has unneeded property such as an inheritance
Your donor expresses distaste for paying significant capital gains tax
Your donor needs secure and reliable income
Your donor feels restricted by living expenses because selling assets incurs so much tax
Others?Slide18
Hints for Success
Keep it simple and creative
Focus on the people not the
methods, learn their needs and desires
Start with bequests and gradually add other options
Focus on a very small number of prospects
Only develop strategies for regular donors
Enjoy your meetings with your prospects
Focus on the long termSlide19
Preparing Yourself:
Be Curious: Listen
Learn all you can about gift and estate planning
Make relationships the keystone of your fundraising program
Be a donor….know the joy
Write your own will
Explore ways to be philanthropic
E
stablish bequests for your favorite causesSlide20
More thoughts?
Christine Graham
cpgraham@sover.net
www.cpgfundraising.com
802-862-0327
Burlington and North Bennington Vermont