In the USA, the death rate continues to decline, ministries need to realize that this represents a significant challenge to fundraising without appropriate action. As donors age, resources often become more limited, and the charities they support will feel this effect. However, much of this can be alleviated by ministries encouraging their donors to investigate planned giving.
At first, some donors object to this idea, because they want to make a difference right now and give to an immediate need. “However, if presented strategically, donors may better understand the importance of testamentary gifts, a gift that can keep an organization’s legacy secure and ensure that their organization would be decidedly less vulnerable in future times of economic or other difficulties,” write Robert Evans and Avrum Lapin, from The EHL Consulting Group.
Donors need to be made aware of the long-term importance of planned giving. More support comes from planned giving than from regular corporate contributions. By setting up restricted and unrestricted planned gifts, their contribution can be part of leaving a significant legacy.
This can be a difficult subject to navigate, so be sure to educate your donors completely and be personally involved. Planned giving raises hard questions or objections such as wanting to “make bequests to surviving spouses, children, and grandchildren” or the concern of “outliving their resources.” Prepare for these questions by educating yourself as well so that you can help these people find answers too. Talk with a financial advisor or a local community foundation who may be more skilled in this area if need be.
A critical part of this discussion is keeping the larger perspective. Even in the midst of all the questions and details, keep the issue of legacy at the forefront. Let your donors know how much they have already made an impact and how you appreciate them simply as people as well. Give them a vision for how these future gifts will have an impact.
Evans and Lapin write, “While planned giving may not seem “sexy” to donors, it is important to demonstrate that it can be and, most importantly, that it will enable the organization to advance its mission, provide opportunities to expand programs and activities and to ensure that the organization will continue to exist for the […] community of tomorrow. It is imperative that we tell our story and teach our values to the next generation.”
Quotes taken from Evans and Lapin’s article “Planned Giving Must Be a Critical Component of Fundraising Efforts.”
-- Jessica High is a Research Assistant at Christian Foundation Grants (www.christianfoundationgrants.com) which is a subscription database of foundations that provide grants to faith based organizations. iDonate.com is a website (www.iDonate.com) that allows ministries to receive non cash gifts online