No organization is too small to start a Planned Giving program.
Setting up a Planned Giving program to create an endowment fund for your organization is a good way to keep your programs sustainable for years to come.
Essentially an endowment fund is managed as an investment and a small percentage is disbursed from the interest earned on the principal to your operations every year.
The principal of the fund is never touched, therefore it continues to build interest in perpetuity. The larger your endowment fund, the larger your yearly disbursements; providing a sustainable income for your organization.
Although planned gifts usually come through bequests in Wills, they can also come through life insurance policies, gifts of securities and stocks, annuities, or large donations from major donors, etc.
Potential prospects for Planned Giving include:
- Board of Directors, leadership staff, front-line staff
- monthly and long-term donors
- alumni, past beneficiaries of programs and their families
Invite prospects to participate by:
- launching a planned giving program in-house
- providing planned giving information on your website
- including planned giving articles in your newsletter
- inviting top prospects to discuss options in person
- including a check box that says, ‘I would like more information about planned giving’ on your response devices
As with all donors, be sure to say thank you often, provide status reports and invite them to appropriate events. A Planned Giving program gives your donors the option to create an enduring legacy for themselves and their families that continues to support the organization they have grown to care about long after they’ve passed on.
What are some of the ways you have successfully implemented a Planned Giving program?
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