Transcript Adventures in Planned Giving

Asking and Planned Giving
Perry T. Hammock, CFRE
©2010, 2011
Service to Constituents
 60% die with a valid will in USA – 50% of
lawyers
 Only 6% of estates have provided for
charity – 20% of wealthy
 Provide vision information – address family
values
 Provide options for disposition of assets
 Supply satisfaction of a gift with real
meaning
 Making philanthropists from donors
Why Would A Donor Consider
Planning a Charitable Gift?
 People insure their assets. Planned gifts
allow them to insure their values
 Giving is extremely fulfilling – planned
gifts let them have the fulfillment now and
pay later.
 Split-interest charitable gifts can increase
current income
 Help pass better assets to heirs.
Value Proposition to Donors
 Current income tax deduction
(generally)
 Often fixed or variable income for lifeoften increased income
 Reduce capital gains taxes
 Increased diversity of portfolio –
better management
 Can increase asset transfers to heirs
Value to College
 PG DRAWS DONORS CLOSER
 PLANNED GIFTS REQUIRE SIGNIFICANT
COMMITMENT WHICH LEADS TO MORE
INVOLVEMENT
 COMMITMENT TO PROVIDE LIFETIME
INCOME DRAWS INSTITUTION AND
DONOR INEXTRICABLY CLOSER
 AS DONORS AGE, MORE FISCALLY
CONSERVATIVE BUT ALSO MORE
INTERESTED IN LEAVING A LEGACY
Fundamental Ethics
 Needs of donor come first
 Intention of donor are acceptable or
gift is thankfully declined
 No hard-sell or pressure on donors
 Professional advisors are always
recommended
 Confidentiality of information is
guaranteed
Who Make
Great
Planned
Giving
Officers?
Personal Visits
 Show institution and individual are
knowledgeable and trustworthy
 Assess depth of commitment, timing,
needs, and desires to make a
difference, match instrument
 Defuse “Blue Smoke & Mirrors” view
 Entanglements of planned givingmaintaining professional detachment
PERSONAL VISIT - S
 MAY HAVE MANY VISITS BEFORE
GIFT IS CLOSED
 BUILD CONFIDENCE
 WHY THEY GIVE
 UNDERSTAND DEPTH OF INTEREST
 PROJECT THAT FITS INTEREST
 ASSETS THEY CAN COMMIT
 RECOGNITION DESIRED
The Mechanics
80% listening - minimum
Push joint understanding
Legacy, permanence, focus
Find passion – enduring values
“The hard decision was to do the project,
finding the best way to fund our
commitment was easier.”
 PG tools are just mechanisms to make
dreams come true.
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The Set-up
You’ve had a good life
You’ve raised a great family
You’ve built a important business
You’ve been a leader in this community
You’ve made such a difference with
your past gifts to help…
 What is your dream for the future?
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 How do you want to be remembered?
The ask
 Would you consider providing
(opportunity, stability, training) …
 Can you be the one to…
 Will you join with us to…
 Remember, planned gifts are from
the head and the heart, so need is
even less a motivator.
Giving Through Deferred Gifts in
Tough Economies
 CGAs are often times better funded with
cash than appreciated securities
 CRUTS allow additional future investments
 Life Estates may be very appealing –
especially in Florida!
 Also gifts of Property, Business Interests.
 Remember Concern for Retirement Income
 Wills as Last Resort – why?
Stay in Touch
FOR THE 100TH TIME IN
AS MANY DAYS!…I DO
NOT HAVE A QUARTER!!
 If you wait “for things
to get better” and leave people
alone you will be the last to the
trough.
 More than in good times you
have to tell and retell your story
and share your values and
dreams.
 You don’t know when estate
planning decisions will be made!
Emotional ROI
LOVE YOU!
 Prompt and
Sincere Thanks
 Expressed in
Human Terms
 Vision Focused
 Involvement In
Some Way
Recognition as a Tool
 Remember, gifts beget gifts
 Recognition builds relationships
 Lets folks stand up and demonstrate
commitment
 75% of CGA funders also remember the
charity in their wills
 What do PG donors want?
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Inclusion
Involvement
Insider Benefits
Time with leaders and beneficiaries
Mighty challenging stuff in your sermon!
I had no idea how versatile a CRUT could
be in my estate planning!
Funding
Deferred
Gifts – A
Plethora
of Ways