Planned Giving Basics - Start From the Beginning

Basics of Planned Giving To Nail before Going Forward

I have seen all types of planned giving programs.  And I use the term “program” very loosely.  Some organizations are trying to do sophisticated gifts without really having the basics down. Trust me – it’s important!   

Knowing the basics of a planned gift or program is essential

I know, I know – you want to skip right to the fun stuff about planned gifts: 

Better engagement

Complex planning

Bigger gifts (this one should have been listed first)

Want to test your knowledge on some basics before skipping ahead?

Let’s make it fun:

1.     A legacy gift is:

1. A bequest

2. An endowment

3. A gift of artwork

4. All of the above

2.     Most legacy gifts are:

1. Life insurance policies

2. Charitable gift annuities

3. Charitable remainder trust

4. Bequests

3.     The most likely legacy giving prospect is:

1. Someone that came to an event

2. Someone that once gave a large gift years ago (but nothing since)

3. Someone who gives a small gift multiple times a year

4. A new board member

4.     Why would a donor want to make a legacy gift?

1. Recognition

2. Tax benefits

3. Passionate about the mission

4. All of the above

If you got 4,4, 3 and 4 you are on your way.  If you are ready to up-level and create a legacy program that brings in more gifts while deepening your donors’ connections download this worksheet.

If you want to learn more about using legacy giving in your development program the best start is to join our closed Facebook group here to share with others resources and tips on growing your planned giving program.