Transcript Jacksonville JCC

The Harold Grinspoon Foundation
The Jewish Endowment Foundation
The Jewish Federation of Western MA
The Jewish Federation of the Berkshires
First Year Review
May 7, 2009
Presented by
David Valinsky, CAP®
David Valinsky Associates LLC
The day is short
The task is great.
It is not up to you to complete
the work,
Yet you cannot evade it.
All beginnings are hard.
— Pirkei Avot
If not now, when?
Introduce me to Western
Massachusetts Jewish Community
• Why is it so special?
• Look into the future
• What is not being done?
Why is it your
responsibility to
plan for the
next 25, 50, 100 years?
End Result
• Build the resources for a vibrant community
• Help our donors commit to a
transformative/meaningful gift
• May include both current and future gift options
• Gift not limited to the conventional endowment
formula (20X annual) but one that inscribes their
legacy
• Gifts in the range of $100K-$5M
Why is this the best time?
…in good times and bad, Americans give to
worthy causes. But when times are difficult,
they seem to respond with even greater
dedication, generosity and a genuine sense of
sacrifice.
Since 1980, we have experienced five
“official” recessions – and still, philanthropy
has continued to grow…each year more than
the year before.
Keep doing what you are doing
– just do it better than your
competition
Myth: Harder to raise money
when there is a recession
• May be harder to raise money quickly
• Donors give to charities during good and
bad times
For Donors: state of the economy is
personal
• Finances are just some of the factors that
affect their decisions
But Remember
• Compelling case for support
• Donor has personal connection to
organization
• Donor believes that organization has
ability to make good on what it promises
Planned Giving Myths
• Only for the wealthy
• Donors want to leave their entire estates to
their children
• Negatively impacts annual campaign
(Toledo Study)
• Planned giving donors are driven by tax
considerations
Integrated Ask
• Ask for current and legacy gift at same
meeting
• Complete current gift and set date for
legacy conversation
• Capital campaign conversation may lead to
legacy gift
Types of Bequests
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Specific - an amount
Percentage - 5%
Contingent - based on
Residuary - after everything
Charitable Gift Annuities
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Current gift
Fixed income for life
Based on age of donor
Guaranteed
Tax benefits
What to do?
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Talk to your donors
Focus on your best and current donors
Good stewardship is key
Suggest charitable gift annuities
What have been your greatest
achievements?
What have been your
greatest challenges?
Not on my watch
What has worked in other
communities?
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Multiple visits
Scorecard
What others are doing / examples
Vision statement
Asking donors to dream
Professional /volunteer leadership
Time
What have been the obstacles?
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Time commitment
Not making your own gift
Lack of comfort making the ask
Expecting results too quickly
Persistence and follow-up
Today’s economy
Common Pushbacks
• Economy
• I have always given
• We will give in my grandchildren’s
community
• I may outlive my assets
• I will let my kids make future contributions
Best Practices That Build
Success
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Understand that donor is in control
Use of natural partners
Target current users / members
Provide significant written materials
Be willing to share the pie
Keep program focused
Multiple visits
Follow up is the True Test
• Treat each one as a major donor
• Special luncheon/reception for Legacy
Society members /have them bring a friend
• Invite individuals to casual or private
luncheons
• Send appropriate holiday cards/anniversary
of joining your legacy society
Follow up is the True Test, cont’d.
• Pay personal visits to legacy society
members
• Send them interesting articles, materials on
areas that they have shared their interest
with you
• Tell their story
• Permanent recognition listing
I did not find this world desolate
when I entered it. My fathers
planted for me before I arrived, so I
plant for those who come after me.
-- Talmud
Questions
If not us, who?
David Valinsky, President
David Valinsky Associates LLC
2266 East Main Street, Suite B
Columbus, OH 43209
614-238-3390
www.davidvalinsky.com
[email protected]