Presentation on theme: "Encouraging Legacy Giving in your Parish"— Presentation transcript:
1 Encouraging Legacy Giving in your Parish Eleanor Gill National Legacy & Funding
2 Financial opportunity Christian Giving Life affirming Appropriate ProspectsMortality RatesFace to face fundraisingMaking the askTalking about legacies as a financial opportunity for our parishesFraming them within the context of Christian GivingLegacies are life affirming – they’re made by the individual when they’re alive, therefore they are their living wishes. Legacies are only activated by death.Because of this – appropriate to talk about.Not here to help identify who is next likely to pop their clogsThere are no direct conversations unless the individual approaches you at the church. You only talk about it if you’re comfortable with the subjectYou never ask someone to leave a legacy. You give them the information and indirectly ask them to consider remembering their local church in their Will.
3 L E G A C Y What does the word mean to you? Key Words Usually death, Wills, money, rich elderly woman, charity,* Demonstrate legacies mean different things to different people
4 LegaciesA POT OF GOLDLegacies are called a pot of gold in the Voluntary Sector, called it for two reasons
5 1. Valuable source of income Voluntary SectorWorth around £2 billion paChurch of EnglandWorth £44.2 million in 2011Worth a lot of money – very valuable source of charitable givingData: Institute of Fundraising
6 An increase of just 4% would raise a further £1 billion pounds! 2. Legacy Market75% of Britons …An increase of just 4% would raise a further £1 billion pounds!75% of Britons regularly give to charity in their lifetime but only 7% currently include a gift in their Will.Huge market BUT a dominated oneData: Institute of Fundraising
7 £400 m Voluntary Income Legacy Income £300 m £200 m £100 m £0 Charities that received the 5 largest pots of legacy incomeHousehold charities – half of voluntary income, they’re depending on it – important source of income.Cancer Research UK £157mRNLI £92mRSPCA £58mBHF £52NT £50m£0Cancer ResearchNational TrustRNLIRSPCABHF
8 - RNLI over £90ml pa in legacy income. - 6 out of every 10 lifeboats launched by the RNLI is launched by the legacies of supporters
9 £400 m Church of England Voluntary Income Legacy Income £300 m £200 m Main reason – type of gift we receiveTwo types of gift you can receive Pecuniary (cash) Residuary (percentage of estate)£0Cancer ResearchNational TrustRNLIRSPCABHF
10 £400 m £300 m £200 m £100 m £0 Cancer Research National Trust RNLI 2 types of gifts charities usually receive – Residuary (% of estate) or Pecuinary (cash sum)Most charities receives an even split – 50/50.Average gift size £25,600£0Cancer ResearchNational TrustRNLIRSPCABHF
11 £400 m £300 m £200 m £100 m £0 Church of England We receive majority cash gifts – 80/20 splitAverage gift size £10,900£0
12 £400 m Church of England Voluntary Income Legacy Income £300 m £200 m If we could receive more residuary gifts our income would be hereCould massively increase annual income, by doing very little – must act now!Any questions£0Cancer ResearchNational TrustRNLIRSPCABHF
13 Christian Giving Extension of our regular giving fundamental part of givingWe teach proportionate givingextension of St Paul’s teachingGenerosity and Sacrificefor it is in giving, that we receive- Regular giving still focus. Legacies are extension & therefore fundamental part of Christian givingdisposable income why not estate?St Paul’s advice & teachings on prop giving– 5% to your churchChristian giving is generous & sacrificial – so are legaciesMust view legacies as a natural & fundamental part of Xian giving
14 Called to exercise Godly Stewardship “For all things come from you, and of your ownwe have given you.” 1Chronicles 29.14Christians are called to exercise a godly stewardship over all that God has given to us.Everything comes from you, and we have given you only what comes from your hand. 1chronicles 29.14
15 Stewardship – Will Writing A Simple Part of Good StewardshipTheological ReasonsArchbishop Cramner wrote the first Prayer Book in the English Language over 500 years agoWill writing – nothing new. Priests encouraged their parishioners to make a Will - good stewardship.rich relationship with God is more important than having riches in the bankWhen we make a will – shift in mindset. Thinking about passing on to others
16 “Watch out! Be on your guard against all kinds of greed: a mans life does not consist in the abundance of his possessions.”Luke – 22rich relationship with God is more important than having riches in the bankWhen we make a will – shift in mindset. Thinking about passing on to others
17 “ Each man should give what he has decided in his heart to give, not reluctantly or under compulsion, for God loves a cheerful giver.” 2Corinthians 9.6. Legacies are not for everyone, for those who do – it is joyous GivingThe cohesion of a christian fellowship is indicated by cheerfulness in receiving as well as in giving
18 Mission & Ministry A lasting gift to God The largest gift to God not to pay the billsThe largest gift to Goda gift that costs nothingLegacies offer a rich potential for funding mission and ministryImportant that we use their gifts to make a differenceAbout credibility – not plugging a hole, make a difference to church life & church community
19 This is what m&m means – all encompassing Inspirational message to all potential legatorsIf a gift fell out of the sky – this is what you could use if for
20 St Paul’s, TonghamIn farnham, SurreyA legacy left enabled the parish to part-fund a full-time Children’s and Families Worker with the security of sufficient funding for several years.
21 All Saints’, Lightwater In Guildford DioceseA legacy left to by parishioners Frank and Hazel was used to make a joyful sound as the newly-restored bells ring out their greetings.
22 St Luke’s, WatfordIn Memory of JoyceIn St Albans Diocese
23 What could your parish do? £1,000£10,000£50,000£100,000£5,000£500,000If a gift fell out of the sky – this is what you could use if for5 mins In groups come up with a legacy vision – what would you do with that money?£25,000£250,000
24 “I’m sorry love. We’re Northern and that’s all there is to it.” Being Northern – lots of things we do, one the aboveBritish reserve – taboo topic; death, money and inheritanceCan’t talk about legacies without talking about the above.Encourage you to talk about it, relevant to all.“I’m sorry love. We’re Northern and that’s all there is to it.”
25 Stewardship – Will Writing A Simple Part of Good StewardshipTheological ReasonsPractical ReasonsTheological reasons – practical reasons too.1. Intestacy Rules
26 70% of adults in this Country 1. Intestacy Rules70% of adults in this Countrydo not have a Will …If you die without a will, your assets will pass in accordance with a set of legal rules – the intestacy rulesIntestacy examplePeople not physics – can’t apply a set of rules to a persons lifeSimple example, modern day life is complicated.Data: Financial advice service unbiased.co.uk
27 Stewardship – Will Writing A Simple Part of Good StewardshipTheological ReasonsPractical Reasons1. Intestacy Rules2. Inheritance Tax
28 Nil rate band £325,000 frozen until 2018/19 2. Inheritance TaxNil rate band £325,000 frozen until 2018/19More estates taxable17,000 in20,000 inMore revenue raised£2.72b in£2.91b inCharitable gifts are exempt and reduce the size of the taxable estateAttractive option to a lot of people.
29 Stewardship – Will Writing A Simple Part of Good StewardshipTheological ReasonsPractical ReasonsTheological reasons – practical reasons too.1. Intestacy Rules2. Inheritance Tax3. Triggers
30 3. Triggers People make or review their Will at different life stages Main reason is Trigger Points: Trigger points to make a Willbuying property, marriage, divorce, death of spouse/relative, birth of children, winning moneyOur duty to remind – about time you made a will, have you updated it?
33 Play a game called Mix and Match. - Match up the legacy gift to legacy recipient
34 Why do people leave a legacy? Does anyone support a charity?Why do you support that charity?Why do you support a charity? (individual factors, reciprocation, altruism, empathy, negative state relief)Same reasons - logical culmination of a lifetimes supportHas anyone included a gift in their Will?Why have you included a gift in your Will?
35 A gift to the Charities Vision AND THAT is why people leave a legacy gift – because they BELIEVE in the charity & the VISION it is achieving- What are these 3? Their vision – what will they achieve if you leave a gift in your will?- CofE– same thing vision to grow mission and ministry in your church-*When encouraging legacy gifts think big, dream, will enable your supporters to do so too
36 Recap Financial Theological Mission & Ministry Practical ‘What day is it? asked Pooh‘It’s today’ squeaked Piglet‘Ah my favourite day’ said PoohAll the right reasonsBig gainsNeed to act – NB marketAct today, can act nowFinancialTheologicalMission & MinistryPractical
37 Make and Communicate a Legacy Policy What your Parish can doStep 1Make and Communicate a Legacy PolicyWhy is it important to have a legacy policy? (make decisions before you receive gift, communicate to all).Example4 mins writing own one
38 Make legacy literature available What your Parish can doStep 2Make legacy literature availableLiterature available – where they can find out more
43 www.churchlegacy.org.uk Lots more examples on An Amazing Gift tab. Also worth introducing this website as it has lots of information on legacies, but also help for the next stage – what your parish can do
44 Simple Parish Steps Step 1: Make and Communicate a Legacy Policy Step 2: Make legacy literature availableStep 3: Hold a Legacy ServiceStep 4: Review legacies regularlySimple steps, simple actions parishes can take.
45 when they’re asked! My Final Thought By far, the largest trigger for people leaving a Gift in their Will is …when they’re asked!If you don’t ask, you don’t get