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Establishing A Planned Giving/Blended Giving Program Starting with Bequests . Overview By Mike McKelvey. Overview. Four Reasons Why Nonprofits of All Sizes Should Seek Bequests Myths about bequest programs: 10 Common Questions by Boards/Executive Leadership
By Mike McKelvey
Nonprofits receive enormous sums of money from bequests.
The opportunity to get bequests is nearly unlimited.
Recessions can be a good time to seek bequests.
Creating a bequest program is simple.
Only wealthy people make bequests.
Only old people make bequests.
Only well-educated people make bequests.
People give primarily to avoid or reduce taxes.
Leaving money to a charity in an estate plan requires hiring an attorney.
Bequests and other estate gifts take too long to “mature”
A bequest program has no place in capital campaigns
Will a Focus on Bequests/Wills impact Outright Gifts?
How much will this campaign cost our group directly or indirectly and how can we demonstrate a ROI
What will be our required deliverables for such a campaign?
How do we document/track these types of commitments?
How do we set our financial goal for the campaign?
How do we measure the loyalty of our philanthropic partners in order to deploy staff time effectively?
How do we assure that the effort of this campaign will sincerely be driven towards the interests and priorities of our philanthropic partners; hence minimizing the concern of a philanthropic partners feeling pulled in different directions?
How do we assure that this campaign will not distract from our current giving efforts via annual giving and special events?
What is the advantage of engaging professional advisors?
Once a bequest gift is received, how will the proceeds of the gift be managed?
How Bequest Giving Positively Impacts Current Giving
Profile of a Philanthropic Partner Making a Bequest Commitment
How long does it take for a bequest giving program to have an impact?
Virtual Opportunity Fund Impact
Time Management of Regional Directors and Fund Raisers
Identifying which philanthropic partners to focus on
Establishing a Marketing Communications Plan
THE WHY/WHAT QUESTION
PHILANTHROPIC PARTNERS WHO HAVE GIVEN 5 YEARS OR MORE
PHILANTHROPIC PARTNERS THAT ATTEND EVENTS – POST EVENT STRATEGY
BOARD ENGAGEMENT –NATURAL PARTNERS SALONS
KEY QUESTIONSBelow are a series of questions and steps for building a relationship and eventually determining who/what team of individuals would best serve the relationship with a philanthropic partner (Alum/Friend/Donor). Additionally, these questions and steps will assist in measuring the readiness to ask for a campaign gift. Please note that failing to having this information does not preclude the annul fund team or development officer from asking for a current gift. These questions assume that the philanthropic partner is an OSU alum or demonstrates the qualities of a friend to the University. Securing the answers or completing the steps could take anywhere from one-to- four personal meetings. The actual order of these questions/steps is not important, securing the information and completing the steps is the key.
What were your 1-to- 3 most memorable experiences as a student at OSU or this can be approached with the following:
In terms of the philanthropic partner’s association with the University, what do they cherish most about their OSU experience and try to secure the same from the spouse.
Any current contact with a former faculty member or classmate?
Current feeling about the OSU?
If the alum/friends are married, does the DO/Relationship Team know the spouse as well?
More importantly, have we actually spent quality time with the spouse and philanthropic partner together?
If married, how did they meet their spouse?
Children or Grand Children? What are their names and ages?
If not OSU, what institution did the spouse attend?
Do we know the career path of the primary partner (the how, what and why behind their career journey) and if primary partner is married does the spouse have a career path?
Does the home or car match their success or are they down playing their success?
Outside interests, secure information about their outside interests (hobbies, books, activities, vacations)
Do we know the natural partners (other alumni or friends already engaged with University) of the philanthropic partner or spouse?
What are the top three charitable interests of the primary partner? If the philanthropic partner is married what are the top three charitable interests of the Spouse?
Does the philanthropic partner or spouse currently serve on any philanthropic, community or corporate boards?
How does OSU/Higher Education fit into their philanthropic priorities?
What has been the philanthropic partner’s largest gift to date, in terms of their top three charities?
Are you dealing with a legacy connection to the University?
Have you identified the best way for communicating with the Philanthropic Partner and potentially the spouse?