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Consider taking the following practical
steps to meet the challenges of
the current environment:
- Refine your case statement to
focus on needs that are most
relevant in today’s environment
and make a compelling case for
why you need funding. Make
sure a donor understands how
her/his gift will have an immediate
impact.
- Place more emphasis on “making
the thank” than “making
an ask” with those donors who
have been most loyal over time.
A competent “thank” may be
more effective than an “ask” in
some situations and may actually
result in greater additional
giving.
- Be prepared to help donors
make gifts using the most
appropriate property and timing.
Many older donors still own
securities, real estate, and other
property that reflect significant
increases in value and they may
be well-served from a tax and
financial planning perspective to
make gifts using these assets.
- Focus on the use of charitable
lead trusts, term-of-years charitable
remainder trusts, and
other planning vehicles that
produce immediate or very near
term funding from relatively
younger donors. Organizations
that do not have staff dedicated
to planned giving should be
prepared to work more closely
with donors and their advisors
when examining these options.
Despite indications of greater
importance in challenging economic
times, bequests and other
planned gifts that result in funding
only at the death of one or
more persons will not necessarily
be a “magic bullet.” It may be best
to focus bequest and other planned
gift efforts on the oldest among
your constituency. Remember that
a 70-year-old has a life expectancy
of more than 15 years.
If looking to conserve scarce
budget dollars, focusing resources
on the 70-and-older donor group
may be best. There will be time
to focus on encouraging eventual
bequests from today’s 50-70-year-olds
later because their ultimate
gifts are not expected actuarially
until perhaps 2020 to 2040 or
later.
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