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Legacy Giving Building Blocks A Simple Approach to Attracting Long-Term Support

Legacy Giving Building Blocks A Simple Approach to Attracting Long-Term Support. Money for Our Movements August 13, 2010 Greg Lassonde, CFRE Legacy Giving Specialist. Presentation Overview. Define Legacy Giving Tremendous Revenue Opportunity Legacy Giving Building Blocks Philosophy

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Legacy Giving Building Blocks A Simple Approach to Attracting Long-Term Support

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  1. Legacy Giving Building BlocksA Simple Approachto Attracting Long-Term Support Money for Our Movements August 13, 2010 Greg Lassonde, CFRE Legacy Giving Specialist

  2. Presentation Overview • Define Legacy Giving • Tremendous Revenue Opportunity • Legacy Giving Building Blocks Philosophy • Why Legacy Giving is Important • Common Obstacles to Starting a program • Why People Create Legacy Gifts • Measuring Success • Questions and Answers

  3. How Do You Define Legacy Giving? • To convey one's values through creation of a future gift to charity • A foresighted action to strengthen a favorite cause

  4. Legacy Gifts • Examples include: • beneficiary form designation • will • trust • life-income arrangements • endowment gifts • They can be created by: • Any individual • At any point in his/her life

  5. Simple & Easy Via Beneficiary Form • Savings account • Checking account • Stocks or bonds • IRA or pension • Life Insurance policy • Annuity

  6. More Complicated Types • Will or living trust • Charitable gift annuity • Life income trust • Many others

  7. Tremendous Opportunity • Seven out of ten Americans make gifts to charity during their lifetime. • Yet fewer than one in ten leaves a gift to charity in their will or trust. Why? • It never occurs to most of us because we haven’t been asked!

  8. Legacy Building Blocks Philosophy • Easy to understand • Defines legacy giving goals • Engages organizational leaders • Identifies prospects & cultivation strategies • Helps steward relationships

  9. Legacy Building Blocks Philosophy • Promotes outcomes-based communication • Simple plan for creating successful program • Creates organizational culture that values, emphasizes and encourages long-term support

  10. Why Encourage Legacy Gifts?

  11. Why Are Legacy Gifts Important ? • Almost everyone is a prospect • For most people it’s the largest gift they make • It has the lowest cost of fundraising • Legacy donors make larger annual gifts • Only a small percentage of donors have been asked • Wide variety of gift options, many easy to create • Only revenue that increases during recessions • Staggering transfer of wealth in next 50 years

  12. Common Obstacles to Starting a Legacy Giving Program • Uncertain why it’s important • Subject matter perceived to be too difficult • Concern that it takes a lot of staff time • Fear that it requires a large budget • Misconception that only wealthy individuals create legacy gifts • Unsure how to create board / staff support

  13. Why Aren’t More CharitiesPromoting Legacy Giving? • Some organizations keep putting it off…..

  14. The Resistance Approach

  15. What Does Your Organization Need To Build A Legacy Giving Program? • Understand why legacy giving is important • Willingness to talk with others about legacy giving • Commitment to celebrate legacy gifts and the individuals who create them

  16. What Are The Measures Of ASuccessful Legacy Giving Program? • Annual goal for people you speak with • Recruitment goal for your legacy donor society • Legacy giving = organizational priority, not development office responsibility

  17. Seven Building Blocks 1. Mission, Legacy Giving & Endowment • Understanding why legacy giving is important 2. Case • Articulating how legacy giving is important to your supporters and your organization 3. Leadership • Involving board & staff leadership in your program 4. Prospects • Identifying and approaching the best prospects

  18. Seven Building Blocks 5. Stewardship • Fostering and supporting relationships with your supporters 6. Communications and Marketing • Sharing your story and promoting legacy gift opportunities 7. Program Plan • Defining and building a plan for sustainable revenue

  19. Why Do People Create Legacy Gifts? • Express appreciation to a charity that served them • Support and sustain organizations they care about • Reflects a cultural, ethical or religious value • Meets a need of the community • Memorialize themselves or a loved one • Serves as an example to future generations • Creates something of beauty • Accomplishes planning and financial benefits

  20. Why Building Blocks Approach Works • Emphasizes sustainability and resource management • Articulates long-term objectives and outcomes • Engages volunteers, supporters and staff • Focuses on relationships, not techno-babble • Promotes appreciation of donors on an ongoing basis • Communicates how legacy giving impacts mission • Provides a plan for creating a sustainable program

  21. Thank You! For more information and resources: www.greglassonde.com www.legacygiving.com

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