planned giving for libraries prepared by christine graham

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Planned Giving

Planned Givingfor LibrariesPrepared by Christine Graham The Perfect Recipient of a Planned GiftWhen people plan a lifetime gift, they usually want: A long history and a familiar causeAssured continuityA welcome for allHope for the futureHappy memories Comfort as we ageA sense of communityConservative management of our hard-earned dollars

Different kinds of giftsThe spontaneous gift

The recurring gift A current major gift

A lifetime planned gift. making a difference for the futurefrom accumulated assets The Organizational Life Cycle of GiftsPlanned Gifts Planned Gifts are just tools.Most important is the human spirit and the desire to give.

Prospects first think of their own lives and families.Then, with a planned or lifetime gift, your donor thinks about the causes they have cared most deeply about.

You cant rush the donor.. You can build a relationship, and be ready when they are.Your prospect needsPersonal awareness : of his own needs, family needs, community needsFinancial awarenessGenerosity Commitment to libraries and communityA desire to create a legacy

In making a Planned Gift, your donor might receive:ThanksTax DeductionsIncome during ones lifeAdditional ways to give to familyPeace of mindPreservation of propertyResolution of disputesFriendship and RelationshipsJOY!

How does this benefit you?SecurityFlexibilityReliable incomeMore ways to recognize your donorsGreater ability to plan

More?....learn to talk about this with your prospectYour donor might consider an immediate gift:Stock and bonds, property: things one can decide today

Transfers from Retirement accounts,

Gifting of cash-value insurance policies

All with tax benefits for the donor now.An irrevocable (guaranteed) gift upon the donors deathA gift that also provides the donor lifetime income and tax advantages: Charitable Gift Annuities,Charitable Remainder TrustsLife Estates, such as a donors home with life tenancy

Life insurance with cash value, or where the organization owns the policy, during the donors lifetime.

(And the oddity among planned gifts: A Lead Trust where the nonprofit gets the income during the donors life, and the second generation heir inherits the Trust at the donors death.)

A Revocable Gift upon the donors deathBequests:Cash Property

Life Insurance where the donor owned the policy but the nonprofit was the beneficiary

Proceeds from a Trust

What You Can DoCreate a Legacy Society Know your donors!Select gifts types you can encourageFind a advisor or twoDevelop simple materialsIdentify likely prospects and send materialsOffer tours, meetings, and an occasional educational program Include an article about planned giving in every newsletter and info on your websiteBe present with the infoRecognize and thank your planned giversBuild Your Resources even if they are modest.Create a Legacy SocietyA way to keep your planned gift promisers engaged and committedA way to acknowledge gifts received A way to make the program sociable, joyful and comfortableA model for others to strive towardA way to keep the organization committed too.even when the planned gift program is quietA formal means of setting planned giving GOALSIdentify Your Prospects, learn their storiesTrain Yourselves to Think About Planned Gifts and the DonorsTell briefly about a person you think might be a prospect for your organization..What makes you think they might make a planned gift?What more do you need to know about them?How would you get to know this new information?What do you think they might want to know?How could you begin this conversation with them?Typical Clues:A prospect wants to give but doesnt have cash or it is not a good timeA donor has an opportunity to make money (a taxable event) and would like to offset taxesA donor has unneeded property such as an inheritanceYour donor expresses distaste for paying significant capital gains taxYour donor needs secure and reliable income Your donor feels restricted by living expenses because selling assets incurs so much taxOthers?Hints for SuccessKeep it simple and creativeFocus on the people not the methods, learn their needs and desiresStart with bequests and gradually add other optionsFocus on a very small number of prospectsOnly develop strategies for regular donorsEnjoy your meetings with your prospectsFocus on the long termPreparing Yourself:

Be Curious: ListenLearn all you can about gift and estate planningMake relationships the keystone of your fundraising programBe a donor.know the joyWrite your own willExplore ways to be philanthropicEstablish bequests for your favorite causesMore thoughts?Christine Grahamcpgraham@sover.netwww.cpgfundraising.com802-862-0327Burlington and North Bennington Vermont