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Unlike all of the other planned giving mechanisms, a bequest program doesn’t require major technical expertise and specific financial instruments. It’s easy, it’s fast, it can pay off substantially, and the dollars from bequests comprise close to 90% of all planned gifts.
Many non-profit organizations refuse to get into planned giving because of the perception that it’s all about technical wording and/or complicated financial instruments. That’s a misperception.
Most planned gift mechanisms do require some degree of technical expertise, possible registration/approval by States, and a legal contract between the donor and the non-profit organization, BUT NOT BEQUESTS!!
Bequests are simple and should be a standard item in every organization’s development toolbox. Simply worded, a bequest is a gift left to you in someone’s will.
Your job is to get those who might name Another Approach to Getting Bequestse you in their will to want to do that.
What do you have to do?
- Reach out to folks and get them involved with you and what you do.
- Involvement means working on committees, being asked for advice, helping to provide service
- Be creative, think of how to get people so excited about being part of who you are and what you do that they’d want to help continue that work, even after they’re gone.
- Let them know how easy it is to leave you a bequest.
- Let them know of the recognition they’ll get — the appreciation they’ll be shown — while they’re still here.
- Create a named “society” just to honor those who name you in their wills.
Recent figures show over $16 billion in bequests given to non-profit organizations in just one year. Do you want some of that !?
The most effective way of launching/expanding a bequest program is to have a number of trained volunteers cultivating and educating your potential legators. And, the most effective program for involving volunteers with those potential donors doesn’t even involve an Ask. That’s right, no one will have to ask the prospect to make a bequest.
I’d be happy to send you a description of a program to involve volunteers in the bequest generation process – just write to me at AskHank.
Consider, those who (first) name you in their wills are more likely to make major and planned gifts to you while they’re still with us. And, many Board Members find it easier to ask someone to name an organization in their will than they do to ask someone to write a check.
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Have a comment or a question about starting, evaluating
or expanding your fundraising program?
AskHank
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