Adding a planned giving element to your development program can be beneficial for the present and future health of your organization. The addition of planned giving to your development department is invaluable to small and large organizations alike.
If your organization doesn’t currently accept planned gifts, here are seven benefits for starting a planned giving program:
- Allows the Baby Boomers to consider non-profits in their plans. The United States is presently in the midst of the largest wealth transfer in history; approximately 41 trillion will transfer from the Baby Boomers before 2052.
- Gives a variety of giving options to donors and potential donors. An organization is likely to receive more gifts from a variety of donors if it provides versatile giving options.
- Provides a chance to reach potential donors that may not have the means currently to give an outright gift. A lot of donors don’t have the capacity to give a large cash gift, but they are willing to commit to a future planned gift in order to support the organization.
- Planned gifts are often more substantial than annual or capital gifts. In many cases, a planned gift is the donor’s last and largest gift to an organization.
- Planned gifts contribute to the future security of the organization. Future gifts (such as bequests) are realized at the donor’s passing. These gifts provide the organization surety of future funding.
- Gives the organization an opportunity to build a deeper relationship with the donor. Speaking to a donor about a potential planned gift is a cultivation opportunity.
- Gives long-term donors a chance to include the organization as part of his or her legacy. Planned gifts offer the opportunity for a donor to leave their legacy with an organization.
Have you ever wondered how planned gifts benefit your donors? Next time, we will explain the benefits of planned gifts from a donor prospective.