People who are familiar with planned giving campaigns will always tell you that the best prospects for these gifts are what we often call “loyal” supporters. Usually this refers to contributors of all sizes who have demonstrated their loyalty with their consistent giving over a long period, sometimes decades.
The gift amount is usually not as important as the consistency of giving when judging “loyalty”. Circumstances can account for larger or smaller contributions but the ongoing desire to help is the over-riding factor in determining the possibility of a planned gift.
When someone includes your nonprofit in their estate planning, they’re treating your nonprofit like a loved one or family member and their love of your work comes through with their consistant donations, in good times and bad.
However, these are not the only people who should be considered “loyal” when it comes to choosing planned gift prospects. Loyalty also shows up in other ways.
For example, wouldn’t you consider a long time volunteer as someone loyal to your organization? Lot’s of people show their caring through volunteering. Sometimes they may be uncertain or insecure about their financial future. Yet, they may delighted with making a gift through their will or trust, when they can be sure that they won’t need the funds.
As with other volunteers, board members are a natural (and a must!) as planned giving prospects. Sitting on a nonprofit board speaks to a special commitment and it should be demonstrated both in current and deferred gifts. And, sometimes, their relatives may feel a special connection as well, out of respect for their family member’s feelings.
How about the person who is grateful because the nonprofit’s work made a huge difference in their life, or perhaps even saved their life? Yes, they may make a large current gift in gratitude (though probably not regularly), but a testamentary gift, which may have much greater impact should also be discussed.
And, don’t forget the corporate leader who always purchases tables or provides other types of support for your activities and events. When this happens regardless of the honoree, it may be an indication of the leader’s personal commitment and it should definitely be explored further.
When prospecting for planned gifts, try to segment your marketing and solicitations. Definitely look at long time consistant givers (and this most definitly includes direct mail contributors as well), but also research the motivations for your volunteers (board members and otherwise) and anyone else displaying a special loyalty. The greater the perceived commitment, the more likely that the prospect will make a planned gift.
And just as an afterthought, for those who think “membership” is not a donation, think again. Do you truly believe discounts in your nonprofit’s real or virtual “shop”, or your calendar or “magazine” are why your members give you money? This money is a contribution unless they’re receiving something huge in exchange so always include your members on your list of planned gift prospects.
As you can see, there is no shortage of potential planned gift contributors. But what you have to do in all these cases is let your constituents know you want this type of gift. Educate, market, and ask.
Good luck! Let me know if I can help.
`