Beyond the Band-Aid: How Long-Term Giving Through Wills Strengthens Children’s Hospitals

The Importance of Long-Term Planning for Children’s Hospitals

Children’s hospitals often rely on the generosity of their communities to help provide vital care and services for some of their most vulnerable patients. While annual fundraising campaigns and one-time donations play a crucial role in helping with day to day operations, these sources of funding are often inconsistent, and do not create a foundation for long-term strategic planning. This is where the importance of planned giving comes in, and offers a unique opportunity to secure long-term financial sustainability for children’s hospitals and also provides them with a reliable and predictable source of income. When you make legacy gifts through your will, you are making a commitment to a hospital’s mission for generations to come. This is not about just making a small contribution, it’s about creating a partnership that will help provide for the health and well-being of all the children in our communities for many years in the future. By taking action today, you are laying the foundation for a better and more secure world for all the children who will come after you.

Planned giving allows hospitals to move beyond just meeting immediate needs, and to also engage in planning for all aspects of long term financial sustainability and also the growth and expansion of essential services. These types of gifts provide a greater level of predictability, and that means that they can also ensure that all essential services will be available for all who need them. Legacy gifts are more than just financial donations; they are a lasting legacy that will empower the hospitals to continue their important mission of providing healthcare to all children who need their services.

The Limitations of Immediate Donations and the Power of Bequests

While immediate donations are vital for any charity, they are also limited in their ability to provide long term support, and they are often unpredictable, which can make it challenging to make long term plans. Here’s why focusing solely on short-term donations can hinder a children’s hospital and what a bequest can offer instead:

• Unpredictable Funding: Immediate donations fluctuate based on the economy, the donor’s financial situation, and also by the effectiveness of your most recent fundraising campaign.
• Focus on the Immediate: When focusing solely on immediate donations, there is a missed opportunity to plan for the long term financial sustainability that is essential for the success of all charities.
• Limited Capacity for Long-Term Planning: It is difficult to engage in long term planning when you are solely reliant on funding sources that may not be reliable in the future.
• Lack of Donor Engagement: Immediate donations do not often offer the opportunity for a long term relationship with donors, and often do not create the same level of emotional connection that often occurs with long term planned giving donors.
• Limited Impact on Research: Without a steady stream of income, it is more difficult for hospitals to engage in research and innovation that could impact the future of healthcare.

By moving beyond the short term mindset, you will also be moving towards creating more stable funding for the future. This will allow charities to reach more people and also to implement programs that will impact children for many years to come. It is not that these immediate donations are not important, it is only to say that there are other types of donations that will help you achieve your long term goals.

How Bequests and Planned Gifts Strengthen Children’s Hospitals

Planned gifts, such as bequests, provide a powerful tool for establishing a long term foundation of support for children’s hospitals, and provide them with resources for meeting their mission and all of their long term objectives. Here’s how planned giving through wills can make a difference:

• Providing Financial Stability: Bequests create a predictable and reliable source of long-term funding, which will provide stability in good times and also in times of economic uncertainty.
• Funding Innovative Research: Bequests will enable hospitals to invest in long-term research projects, that will improve treatment options and lead to medical breakthroughs for future generations.
• Expanding Services and Programs: You will be helping to grow the reach of the hospitals by creating the resources to expand services to underserved populations and to also provide more resources for children and families in their care.
• Attracting Top Talent: Bequests will also attract highly qualified medical professionals, which will give the hospital a greater opportunity to help all those who seek their assistance.
• Creating a Lasting Legacy: You will be creating a lasting legacy of generosity and compassion, and will also be sending a powerful message about the importance of quality healthcare for all children.

Bequests and other planned giving tools will ensure that your values will continue into the future, and also that you will have a long term and meaningful impact on the health care system, and also the lives of countless children who will need support for many years to come.

The Importance of Transparency and Long-Term Vision

When you are working with a planned giving program it is essential to always be transparent with potential donors and also to have a long term vision for how those funds will be managed. Here are some important components to consider:

• Clear Communication: You must clearly communicate your organization’s mission and how planned gifts will directly impact the long-term sustainability of your hospital, so donors are fully aware of the impact that their legacy donations will have.
• Show Transparency in Financials: Demonstrate how donations are utilized by providing clear financial reports, and showing all potential donors that their funds will be used wisely.
• Share Your Goals: Share your organization’s goals for the future, and show how planned gifts play an essential role in achieving your goals and also meeting all aspects of your mission.
• Celebrate Legacy Donors: Be sure to recognize and celebrate the donors who have included your organization in their wills or trusts, and to also make them feel valued and respected, and also to show your gratitude for their generosity.

By focusing on transparency you will be helping to build more meaningful relationships with your donors, and also creating a foundation of trust that will allow you to continue to grow and prosper. This will also provide more opportunities for legacy giving and will ensure that you have the opportunity to meet all of your financial goals. Do not underestimate the importance of open and honest communication with your donors, who have committed to supporting your organization, and who have trusted you with their legacy.

Making it Easy for Donors to Plan Their Legacy

When encouraging people to plan for legacy gifts, it is essential to simplify the process and make it as user-friendly as possible. Here are some tips to help:

• Provide Clear Instructions: Provide clear and concise instructions on how to include your hospital in a will or trust and also to ensure that there are easy to follow steps for all potential donors.
• Offer Sample Language: Offer sample bequest language, that can be easily used by those who are creating a will or trust, so they do not have to create the content on their own.
• Use Online Resources: Provide easy access to online tools and resources that can guide individuals through the process of planned giving, and also to help make all legal and financial aspects as easy as possible.
• Offer Support and Guidance: Provide dedicated staff or volunteers who can assist donors with their planned giving goals, and also provide help when you are not sure how to proceed.
• Highlight Impact: Be sure to highlight how planned gifts have transformed the work you do, and how the legacy of these gifts will continue to make a difference for many years to come.

By simplifying this process, you will empower more donors to include your organization in their will, and you will also be removing common barriers that may otherwise prevent people from making the choices that they want to make about their future and their legacy. Your efforts to make things more accessible will have a positive impact on the lives of many people in your community.

Wills.com: Empowering Planned Giving for Children’s Hospitals

At Wills.com, we are committed to helping you secure a brighter future by providing you with the tools and resources you need to educate the public on planned giving, and also how to incorporate those gifts into their estate planning process. We believe that everyone should have access to this essential component of legacy planning. We are here to help.

Conclusion

While immediate donations are essential, creating long-term giving options is a powerful strategy to support the growth and the sustainability of children’s hospitals. By understanding the benefits of planned gifts, and by offering accessible resources, you will be creating a lasting legacy of compassionate care and innovation that will help countless children for years to come. Begin today to plan for the future and also to create an environment of stability and success for your organization. Wills.com is here to help you in this process, every step of the way.