Starting a planned giving program for a non-profit organization requires careful planning, strategic thinking, and dedication. Here’s a step-by-step guide to help you get started:
- Assess Your Organization’s Readiness: Before launching a planned giving program, assess your organization’s readiness and capacity to manage such a program. Consider factors such as staff resources, expertise, infrastructure, and donor base.
- Develop a Strategic Plan: Create a comprehensive strategic plan outlining the goals, objectives, and strategies for your planned giving program. Identify target audiences, fundraising priorities, communication channels, and key performance indicators to measure success.
- Professional Advisors: Build relationships with estate planning professionals such as attorneys, financial planners, and accountants. Educate them about your organization and the benefits of legacy giving and provide them with resources to share with their clients.
- Legal Guidance: Seek legal counsel to ensure that your organization is prepared to accept and manage planned gifts effectively. This may include establishing gift acceptance policies, creating gift agreements, and ensuring compliance with relevant laws and regulations.
- Educate and Train Staff: Provide training and education for Board members and staff involved in fundraising and donor relations on planned giving techniques, strategies, and best practices. Equip them with the knowledge and skills necessary to effectively engage donors in planned giving conversations.
- Identify Prospective Donors: Utilize your existing donor database and prospect research tools to identify potential legacy donors within your supporter base. Look for individuals who have demonstrated a strong affinity for your organization and a history of philanthropic giving.
- Develop Marketing and Outreach Materials: Create compelling marketing and outreach materials to promote your program and educate donors about the benefits of planned giving. This may include brochures, newsletters, website content, social media posts, and presentations.
- Cultivate Relationships: Cultivate relationships with prospective legacy donors through personalized communication, stewardship activities, and donor recognition efforts. Engage donors in meaningful conversations about their philanthropic goals, values, and legacy aspirations.
- Offer Gift Planning Tools and Resources: Provide donors with access to gift planning tools and resources, such as charitable gift annuity calculators, bequest language templates, and information about tax benefits. Offer personalized assistance and guidance to help donors navigate the planned giving process.
- Track and Evaluate Results: Implement systems to track and evaluate the effectiveness of your planned giving program, including donor inquiries, gift commitments, and realized bequests. Regularly review performance metrics and make adjustments as needed to optimize program outcomes.
- Celebrate Successes and Show Impact: Celebrate successful planned gifts and recognize donors for their generosity and commitment to your organization. Share stories of impact and demonstrate how their contributions are making a difference in advancing your mission.
- Continuous Improvement: Continuously monitor and evaluate your planned giving program to identify areas for improvement and innovation. Stay informed about trends, best practices, and regulatory changes in the field of planned giving, and adapt your strategies accordingly.
By following these steps and investing time and resources into building a robust planned giving program, your organization can cultivate long-term relationships with donors, secure sustainable funding, and ensure its mission endures for generations to come.