PLANNED ED G GIVI VING BUILDING SUSTAINABILITY FOR THE FUTURE
EVER ERY NO Y NONPROFI FIT SHOULD HAVE A PLANNED GIVING PROGRAM. DO YOU?
PL PLANN ANNED ED G GIVING B U I L D I N G S U S TA I N A B I L I T Y WHAT WE’LL COVER: ▪ TRANSFER OF WEALTH ▪ TRENDS IN PLANNED GIVING ▪ WHERE DO WE START? ▪ HOW DO WE GROW? ▪ RESOURCES
TRAN ANSFER OF R OF WEAL ALTH AND TRENDS IN PLANNED GIVING
$59 T TRILLION IS EXPECTED TO BE TRANSFERRED BY 2061. SOURCE: GIVING USA FOUNDATION LEAVING A LEGACY SPECIAL REPORT 2019
PLANN PL ANNED ED G GIVING B U I L D I N G S U S TA I N A B I L I T Y TRANSFER OF WEALTH IN COLLIER COUNTY: ▪ The aggregate net worth is almost $253 billion . Of that , it is expected $14.7 billion will change hands by 2020-2022. ▪ 5% of $14.7 billion would translate into $734 million over the several years.
IF $734 MILLION IS ENDOWED… $34 MI MILLION N WOULD BE AVAILABLE EACH YEAR FOR OUR COMMUNITY. SOURCE: FLORIDA PHILANTHROPIC NETWORK RANSFER OF WEALTH REPORT 2012
PLANN PL ANNED ED G GIVING B U I L D I N G S U S TA I N A B I L I T Y WHY IS ENDOWMENT IMPORTANT? Endowment is a critical piece of this because: ▪ Long-term sustainability ▪ Resources to respond to opportunities or threats ▪ Builds trust among donor community ▪ Captures transfer of wealth (larger gifts of assets verses income)
PLANN PL ANNED ED G GIVING B U I L D I N G S U S TA I N A B I L I T Y WHO ARE WE ASKING? ▪ The majority of donors first began supporting the organization who received their largest planned gift more than 20 years ago . ▪ Look at a long-term engagement . ▪ Average age of first planned gift: 52.8 years old – with a final revision being between the ages of 79-82. SOURCE: GIVING USA FOUNDATION LEAVING A LEGACY SPECIAL REPORT 2019
PL PLANN ANNED ED G GIVING B U I L D I N G S U S TA I N A B I L I T Y WHAT DO THEY EXPECT FROM YOU? SOURCE: GIVING USA FOUNDATION LEAVING A LEGACY SPECIAL REPORT 2019
PL PLANN ANNED ED G GIVING B U I L D I N G S U S TA I N A B I L I T Y WHAT IS MOTIVATING THEIR PLANNED GIFT? SOURCE: GIVING USA FOUNDATION LEAVING A LEGACY SPECIAL REPORT 2019
GETTING STARTED BEGIN WITH BEQUESTS – THE ACT OF GIVING OR LEAVING PERSONAL PROPERTY BY A WILL.
IN 2019 BEQUEST GIVING IN THE U.S. ACCOUNTED FOR 9 % 9 % O O F T F T H E $427. 27.71 B 71 BILLION ON CONTRIBUTED TO CHARITY.
PL PLANN ANNED ED G GIVING B U I L D I N G S U S TA I N A B I L I T Y BEQUESTS: ▪ Annual bequest contributions have been above $30 billion for four consecutive years. ▪ Most donor’s largest planned gift was a bequest, and the most common gift value was between $100,000 - $249,000 . SOURCE: GIVING USA FOUNDATION LEAVING A LEGACY SPECIAL REPORT 2019
LET’S START THE CONVERSATION
LET’S S START T THE C CON ONVERSATION ON PLANNED GIVING B U I L D I N G S U S TA I N A B I L I T Y ▪ Nonprofits talk with supporters ▪ Professional Advisors talk with clients about charitable giving ▪ Residents count this community among their heirs
LET’S S START T THE C CON ONVERSATION ON PLANNED GIVING B U I L D I N G S U S TA I N A B I L I T Y SOURCE: GIVING USA FOUNDATION LEAVING A LEGACY SPECIAL REPORT 2019
LET’S S START T THE C CON ONVERSATION ON PLANNED GIVING B U I L D I N G S U S TA I N B I L I T Y ▪ Are you “open for business” ▪ Thinking towards the future? And communicating that? ▪ Are you building endowment? ▪ Ensure your board and leadership are behind you ▪ Strive for 100% participation ▪ Ask them to indicate and introduce their professional advisors… both here and “home” ▪ Start with data and create that simple list… remember your biggest cheerleaders ▪ Begin with promoting simple wills and bequests through existing communications ▪ Couple “appeals” with other efforts ▪ Include boxes on pledge cards ▪ Include testimonials in newsletters / magazines – tie to fulfilling impact ▪ DOCUMENT and steward
LET’S S START T THE C CON ONVERSATION ON PLANNED GIVING B U I L D I N G S U S TA I N B I L I T Y ▪ Get your team (or yourself) comfortable ▪ Believe in legacy giving AND be passionate about your mission ▪ Inspire others ▪ Knowledgeable, but also wil l ing to get answers and have the resources to do so ▪ Listen 70% of the time – ears always up and listening for an opportunity or window, prompt the conversation ▪ Lose jargon – “join us” mentality ▪ Promote the gift, not the vehicle
LET’S TAP THE CHARITABLE HEARTS AND CONVICTIONS OF OUR COLLIER COUNTY RESIDENTS…
WE HAVE THE OPPORTUNITY TO TURN GOOD COMMUNITIES INTO GREAT COMMUNITIES THAT WILL SUSTAIN AND THRIVE Let’s start the conversation!
LET’S S START T THE C CON ONVERSATION ON PLANNED GIVING B U I L D I N G S U S TA I N B I L I T Y Lindsey Touchette Vice President of Community Engagement (239) 649-5000 Ltouchette@cfcollier.org
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