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Building a Planned Giving Program from the Ground Up

Building a Planned Giving Program from the Ground Up. Presented by Robert L. Jones, III, Attorney, Blackburn & Company, L.C. Board of Directors.

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Building a Planned Giving Program from the Ground Up

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  1. Building a Planned Giving Program from the Ground Up Presented by Robert L. Jones, III, Attorney, Blackburn & Company, L.C.

  2. Board of Directors • An organization’s Board of Directors is responsible for the Planned Giving Program and its funding. The support of the Board is critical to the success of the Planned Giving Program. • Get the Board to agree to the Planned Giving Program. It is best to get the Board to approve a resolution to develop a Planned Giving Program. • The Board must understand the Program and be supportive; to be seen as sponsors; and to approve certain types of gifts (such as gifts of life insurance, real estate, securities, gifts-in-kind, etc.). • The Board will also need to approve budget allocations; the creation of a professional advisory committee; and they will need to assist in marketing the Planned Giving Program.

  3. Advisory Committee • Who makes up an advisory committee? • Committee composition will include professional advisors such as lawyers, accountants, insurance agents, tax, financial or estate planners, stock brokers, realtors, etc. • What is the role of an Advisory Committee? • Depending on the organization and Planned Giving Program, responsibilities may include establishing policies and procedures; making periodic (quarterly or semi-annual) reports to the Board; and interpreting the Planned Giving Program to members of the organization. • The Advisory Committee may assist with prospect identification and analysis and work with the Planned Giving Officer to make presentations. Their role is as technical support and “ice-breaker.”

  4. Professional Planned Giving Officer • Identify a staff member who will be responsible for overseeing the Planned Giving Program. The preference, or goal, is to hire a development officer dedicated to planned giving. • What skills or characteristics should a development officer possess? • Characteristics of a planned giving officer include an understanding of the organization; promotion of the organization; great interpersonal skills and an engaging personality; communication skills and sales ability. • The ability to write and speak effectively; to be persuasive without being aggressive; and to work well with Board members and other volunteer groups are also important.

  5. Policies and Guidelines • Create a written statement of gift acceptance policies and procedures is important to ensure the success of a planned giving program. • Include routine or anticipated issues that could potentially “threaten” the viability of the program and/or the organization. • Have staff prepare the policies with the advice of the Advisory Committee. • Have staff and Board of Directors approve policies. • Policies define the authority of the planned giving staff and establish the rules under which staff operates. They should also indicate when Board approval becomes necessary. • The objective is to encourage gifts, not to hinder them.

  6. Mission Statements • A mission statement regarding planned giving defines the future direction of the charity. If one cannot articulate the organization’s future vision, it will be impossible to solicit planned gifts. • Upon initiating a planned giving program, the organization’s mission statement needs to address gift planning options and opportunities.

  7. Administrative Matters • An organization, depending on its size and complexity, will require an information system that adequately supports the planned giving program and provides several alternative ways to code a donor or prospect including age; contact priority; capacity to give; current point in the process of closing the gift; the donor’s interest; a calendar system for the next contact; and staff member or volunteer assigned to the prospect. • This step is probably best accomplished in a computerized system.

  8. Budget • Obtain Approval for First Year’s Budget • A planned giving program is a present investment in a future return. With most operating budgets already stretched to the limit, many organizations are unwilling or unable to fund additional support or administrative staff. Therefore, obtaining approval for a first year’s operating budget requires a strategic presentation. • A typical list of accounts which might be considered in establishing and sustaining an effective planned giving program would include salaries, benefits, office supplies and expenses, printing, postage, software/upgrades and equipment, audio visuals and photographs. Travel expenses, promotions, volunteer training, recognition and related costs should also be included along with marketing costs, dues and subscriptions, conferences and professional development, consultants, and miscellaneous costs. • Some of these expenses may be covered by existing staff until the planned giving program is fully underway or operational.

  9. Planning • Prepare an Action Plan/Business Plan • An action plan is simply an outline of your goals and a listing of the steps that must be taken to reach those goals. • Typically it includes the identification of a donor base; goals; a listing of the number of gifts and the size of gifts required to reach the goals; a listing of the number of prospects that must be cultivated to produce the goals; and a marketing plan detailing the various activities that will be undertaken to obtain the needed prospects. • You will also need a market strategy for planned gifts. An underlying strategy of the marketing plan is the undertaking of a number of activities to get the prospects to self-identify. It is much easier to contact individuals who have already indicated that they are interested or prepared to arrange a planned gift to your organization.

  10. Donor Recognition Program • A chance to say “thank you” to your donors. There are a number of benefits to having a recognition program such as added assurance that donors do not change their minds; the fact that it may lead to further or larger gifts or outright gifts of cash; it may encourage others to make gifts; and/or it may encourage anonymous donors to report their arranged gift. • Donor recognition programs promote dialogue between the organization and the donor. They help to ensure that a gift is meaningful to the donor and that it meets the needs of the organization as well. Recognition programs also encourage the donor to become more involved with the charity and often, they are a means to encourage gifts by family members. The recognition program may include items such as simple “thank you” letter, donor walls, kiosks, books, plaques and donor lists, specific naming opportunities, luncheons and tours, testimonial ads and donor profiles.

  11. Management of the Planned Giving Program • You will need to manage the major elements of the planned giving program. That includes the continuous education of potential prospects and the on-going education and cultivation of prospects, professional advisors and past donors. • Monitoring and administration of estates in probate is also critical. Someone needs to do follow up with executors and lawyers to ensure that your institution receives its share and that costs to settle are reasonable. In the event of a challenge or question, who will be protecting the interests of your organization?

  12. Questions • Please feel free to contact me with any questions about setting up a planned giving program: Robert L. Jones, III, Esq. Blackburn & Company, L.C. 5150 Belfort Rd. Bldg. 500 Jacksonville, Florida 32256 (904) 296-7713 rjones@blackburnco.com

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