Planned Giving Program Procrastination . . .
Planned Giving is an investment in the future economic well-being of your Non-Profit organization.
It is essential to understand what “planned giving” is and what will motivate donors to give to your cause. Studies show that donors give to organizations or charities because they believe in the impact they will make. Donors want to feel that the donation their estate makes will make a difference. That seems simple, but that is where the hard work begins. Does your entire board understand the benefit they are working toward? Nearly anything can sound worthy, but it takes strategic marketing and clear messaging to connect emotions to motivations.
Planned Giving (planning) starts with your existing donor base. Most organizations already have lot of information about their donors, and an early step is to create a profile from that information in order look for new donors with similar qualities. Demographics and geographics can focus your asks and minimize hours spent throwing spaghetti at the wall.
Recognition can be of great benefit, as well. Perhaps not all, but some donors may want to be recognized for what they are doing. Opportunities to name buildings, rooms, plaques, or places, give a donor a legacy they will cherish. Associations with other generous givers also give a donor a prideful reason to give into perpetuity.
How a donor’s on-going contribution will be used is also essential to communicate. Don’t call on a single prospect before being able to answer that question. Donors want to see their money invested over a long term for a purpose that is meaningful and sustainable. An organization must establish longevity and therefore it is imperative to demonstrate that you will be around well into the future. An organization that will only exist within a specific time frame is wasting its time looking for planned giving donors.
The bottom line is that your organization must be educated in your cause, both in the present and in the future. The people within the organization who are already there because they believe in the purpose will make the best promotors to increase giving opportunities.
To prepare for a planned giving initiative, you must educate everyone in the organization, including staff and board members, so that they both understand and support what you are doing. They must be able to help promote your giving opportunities to prospective donors.
Midwest Studies Group is designed to help your Non-Profit with these disciplines. www.midweststudiesgroup.com
Written by Gary Kroeger, VP of Business Development
Need more help figuring out how to connect with new potential donors? Would your team feel more comfortable working with qualified leads for donations, planned giving, or a capital campaign? Let Midwest Studies Group help. Visit us at www.midweststudiesgroup.com to learn more.