1. Where there’s a will, There’s a way. PRACTICAL PLANNED GIVING Julia Wood Director of Donor Services

2. What is Planned Giving?

3. A Planned Gift  Any gift other than cash or check.  5% of the nation’s wealth is in cash.  Cash is the most expensive gift to give.

4. Non-cash Assets Donors Can Give Now or Later  Stock or Marketable Securities  Retirement Plans  Real Estate  Insurance  Business Interests  Personal Property

5. Bequests are simple and versatile  A bequest is a gift by will  The average size of a bequest is 200-300x the side of the donor’s largest annual gift.  10,000 Baby Boomers turn 65 years old every day!  No immediate transfer of assets  No reduction in income  Flexibility in design  Permits revocation if personal or charitable plans change

6. Fears your organization has about Planned Giving  Perceived complexity  Longer cultivation  Can’t determine the prospects  Need the money now  Won’t be able to answer the donors’ questions

7. Fears your Donors have about Planned Giving  Don’t want to contemplate their own mortality  They think it is complicated  They think it will cost them a lot of money  Worried about an economic emergency such as taking care of loved ones, a long-term illness or financial collapse.

8. Is your organization ready for planned giving?

9. Difference between Endowments and Planned Giving  Endowments are investment funds separated from annual operating funds. They are invested to grow over time and a small percentage is used each year to support the organization.  Planned Giving is the primary method used to build endowments, but it can increase current giving, too.

10. No EndowmentBoard Resolution to Form Endowment with specific objectives Board employs fundraising program to build endowment Organization uses endowment fund payout to support mission. Intend to take the next steps Planning begins, initial gifts secured. Endowment is growing. Goals set. Principal is growing ENDOWMENT EVOLUTION PLANNED GIVING EVOLUTION Only planned gifts come from “out of the blue” Board approves planned giving policies and procedures Marketing and specific asks generate Legacy Society members. Have a staff member devoted to planned giving Intend to take the next steps Board champion steps forward with leadership and gift Education is underway Planned Giving is an integral part of your development strategy

11. Getting Started Part I  Get buy-in from the top  Identify your Planned Giving Objectives  Generate cash flow  Diversify your revenue streams  Build an endowment  Maximize donor relationships  Build on new opportunity – after a surprise planned gift  Gift envy  Create a gift acceptance policy

12. Getting Started Part 2 CONTINUED…  Create a legacy society (just don’t name it that!)  Trace any previous planned gifts your organization has received  Ask current donors to self-identify  Focus on a few key prospects  Marketing & Donor Calls  Track your progress  Keep your donors informed

13. Marketing your Planned Giving Program

14. Storytelling with an opportunity to respond  Publish your legacy society members  Ask your legacy society members if you can feature them in your publication  Include a way for donors to respond to let you know that they’ve included your organization in their will  Include a way for donors to request more information about planned gifts  Include information on planned giving on your website.

15. Who are your ideal planned giving prospects?

16. Identify prospects  Longevity and Loyalty

17. Donor Development Cycle Awareness Identify Special Events Quantify Annual FundCultivate Volunteer Engage Voice to Voice In person visits Solicit Steward LOTS OF PEOPLE – LITTLE CONTACT FEWER PEOPLE – MAXIMUM CONTACT

18. Create a plan for calls on donors  Narrow your prospects down to a manageable group  Set metrics to gauge your progress  Activity Metric: Number of Planned Giving face to face calls on donors  Performance Metric: Number of planned gift commitments  The purpose of the call should be to thank the donor and give them an update on how their support is helping the organization.

19. The conversation with the donor. Case Studies

20. I’ve identified prospects. Now what?  Passion questions first  Technical questions second  Open the door to follow up (then do it!)

21. What is your role in the conversation?  Listen!  Explore their passion.  Empathize with their fears.  Ask if they would they be interested in exploring it further?  Follow up!

22. CASE STUDY  YOU: “Tell me about your experience in the Junior League”  DONOR: “Junior League is very special to me. It provided me valuable training that I have used in my career and community service.”  YOU: “What did you learn through the Junior League? “  Listen to the donor  YOU: “How did you use that in your career?”  Listen to the donor  YOU: “If there was a way to make a planned gift to the Junior League’s endowment to support the training that they offer their members, would you be interested?”  DONOR: “Yes, I would love to support the Junior League, but….

23. “I want to support the organization, but…”  This response is not a NO.  It’s an invitation for a solution.

24. “Yes, but…”  DONOR: “Yes, I would love to support the Junior League, but …  we are trying to sell my mother’s house.  I’m living on a fixed income.  I’m worried that my husband or I might need long term medical care in the future.

25. “…we are trying to sell my mother’s house.”  YOU: “Both you and your mother have been long time sustainers of the Junior League. If there was a way to give her home or a partial interest in it to the Junior League endowment, would you like to know more about it?”

26. “… I’m living on a fixed income…  YOU: “If there was a way to make a planned gift to the Junior League endowment that would provide income back to you, would you like to know more about it?”

27. “…I’m worried that we might need medical care in the future.”  YOU, “I know you have to care for yourself and your family first. If there was a way to give a planned gift to the Junior League endowment fund from your estate, would you be interested in learning more?”

28. Your role in Planned Giving  You may not know all the answers. That’s okay!  Utilize experts who know the answers while you are learning.  Ask someone who has experience in planned giving to accompany you on a call.  Listen to one side of a phone call of someone with experience in planned giving talking with a donor.  Role play  Work with the donor and their professional advisors  You don’t have to know all the answers. You just have to know the donor.

29. Thank you!