The Ultimate Guide to Planned Giving: Why Your Charity Needs to Focus on Bequests and Legacy Gifts

What is Planned Giving and Why Does it Matter?

Planned giving, also referred to as legacy giving, is a long-term approach to fundraising where donors make arrangements to leave gifts to a charitable organization in the future. Unlike annual fundraising campaigns that focus on immediate donations, planned giving centers on gifts that are made through wills, trusts, life insurance policies, and other estate planning vehicles. This type of giving provides an opportunity for donors to support a cause that they care about, even after they are gone, and it provides non-profit organizations with a more stable and predictable source of income. By focusing on planned giving you will be creating a foundation for the long-term success of your organization. A well established planned giving program will allow you to do more in your community and to maximize your impact for years to come. By making this an important part of your strategic fundraising, you will be well positioned to fulfill your mission for generations to come.

Planned giving is more than just securing money; it’s about building meaningful relationships with your donors, those who have a passion for your organization, and want to partner with you for many years to come. This can lead to more significant and long term support, rather than relying on donations from annual campaigns. Planned giving allows your donors to make a lasting impact, and it also provides your organization with sustainable funding that can help you to continue your good work for the long term. By offering more options, you can help your donors achieve their charitable goals, and you can provide your organization with financial stability for years to come. Don’t delay in putting together a plan for legacy gifts for your organization. The time to start is now.

The Power of Bequests and Legacy Gifts

Among the various types of planned gifts, bequests, which are gifts through a will, and other legacy gifts, play a particularly significant role for non-profit organizations. Here’s why:

• Significant Financial Contributions: Bequests and legacy gifts often result in larger donations compared to annual or one-time gifts, as donors may choose to leave a substantial percentage of their estate to their chosen charity.
• Long-Term Impact: Bequests and legacy gifts provide a steady stream of funding for many years to come and allow non-profits to invest in long-term programs, growth, and sustainability.
• Predictable Revenue: Planned gifts can offer charities more predictable revenue streams compared to the fluctuations that often occur with traditional fundraising methods.
• Recognition and Appreciation: Planned gifts allow charities to engage with donors, recognize their contributions, and build stronger relationships for long term engagement, and they provide a way for charities to connect with donors in a meaningful way.
• Supporting Your Mission: When you secure legacy gifts, you are ensuring that your mission will continue to be fulfilled long into the future, even after the original donor has passed away.

By focusing on securing bequests and other legacy gifts, you are ensuring your organization will be able to continue working for the benefit of the community for many generations to come. Don’t let the potential of these types of donations pass you by. Act now to secure your organization’s future.

Why Traditional Fundraising Methods Often Miss the Mark with Planned Giving

While traditional fundraising methods play an important role in many non-profits’ fundraising strategy, they often miss the mark when it comes to planned giving. Here’s why relying on traditional methods alone can be detrimental to your organization’s long-term financial health:

• Short-Term Focus: Traditional methods primarily focus on immediate needs, rather than engaging donors on the topic of long-term planning and legacy gifts, so there is a disconnect in the message and the donor’s goals.
• Lack of Targeted Outreach: Many traditional methods are not designed to connect with donors who are actively considering their estate plans, therefore they are targeting the wrong group of individuals.
• Complexity of the Bequest Process: The mechanics of setting up a bequest can feel daunting for many donors, and traditional fundraising does not address this barrier to giving.
• Limited Visibility for Estate Planners: Charities are not always visible to individuals who are making decisions about their will, and they often rely on donors to seek them out, rather than being proactive.
• Lack of Education: Many charities do not fully educate donors on the benefits of planned giving or how to make a planned gift through their estate plan.

By understanding the limitations of traditional fundraising, you can then take steps to move your organization into the modern world and utilize methods that are more effective at reaching those who are planning for the future.

Implementing a Successful Planned Giving Program

A successful planned giving program requires a strategic approach that includes a variety of tactics. Here are some important steps to take:

• Educate Your Donors: Provide information on the benefits of planned giving, how to make a bequest, and how to include your charity in their will or trust.
• Make it Easy to Give: Simplify the bequest process by providing all the necessary information that potential donors will need in an easy to access format.
• Offer a Variety of Planned Giving Options: In addition to bequests, consider including charitable gift annuities, charitable trusts, and other planned giving vehicles that may appeal to a wider range of donors.
• Highlight Impact: Share stories and examples of how planned gifts have benefited your organization and made a lasting difference.
• Recognize Your Planned Giving Donors: Create a program to acknowledge and appreciate legacy donors, fostering a sense of partnership and connection.
• Partner With Professionals: Work with estate planning attorneys and financial advisors to help your donors make informed decisions about their planned gifts.

By creating a comprehensive planned giving program, you will ensure a strong financial future for your organization, and allow more individuals to connect with your organization and help you to continue your mission for generations to come. This is an essential part of ensuring your organization will be sustainable for years into the future.

How Wills.com Supports Your Planned Giving Efforts

Wills.com is a powerful tool that can enhance your planned giving efforts and streamline the process for both your organization and your donors. Here’s how:

• Charity Listing and Directory: Your charity can be listed on the Wills.com platform, making it visible to users who are actively creating their will.
• Simplified Bequest Process: Wills.com provides the tools to help donors easily include your organization in their will, making the bequest process straightforward.
• Educational Resources: Wills.com can provide resources to educate potential donors about planned giving and how they can include your organization in their will.
• Targeted Outreach: Wills.com puts your charity in front of the right people, those who are actively engaged in estate planning.
• User Friendly Design: Wills.com provides an easy to use interface, allowing both you and your donors to easily participate.

With Wills.com you will be well on your way to capturing the valuable planned giving dollars that you may be missing out on today. By being proactive and taking the time to engage, you will secure the financial well being of your organization for years to come. Don’t let this valuable resource pass you by.

Start Your Planned Giving Program Today With Wills.com

Wills.com is committed to helping charities thrive by making planned giving accessible and easy. We will be your partner in connecting with a new base of long-term donors that will help you to achieve your mission. Let us help you take the next step to creating a better future for all.

Conclusion

Planned giving, specifically bequests and other legacy gifts, is not just a supplemental approach to fundraising but should be at the forefront of your overall fundraising strategy. By understanding the power of planned giving, adopting proactive measures, and using Wills.com as your partner, you can secure your charity’s financial health for years to come. By making planned giving a priority, you will be making the best decision for your organization’s long-term success. Wills.com will help you to get there quickly and efficiently.