Planned Giving Fundraising Part l by Lawrence Pierce Durance

Lawrence Pierce-Durance recently completed a four part series on YouTube on major gift fundraising for small nonprofits. In looking what might be helpful going forward, the most common request was about “planned giving”.

In response, this is the first of two YouTube videos that Lawrence did on planned giving for small nonprofits. Planned giving is simply a way people make provisions in their will for anyone or any organization such as your charity.

This is an extremely important part of a well-designed fundraising program yet most of the small nonprofits Lawrence Pierce-Durance has worked with over the years do not have a planned giving program. And yet over 20% of money given each year to nonprofits is in the form of planned gifts, specifically will and bequests.

So why do so many small nonprofits ignore this area? Here is what Lawrence  hears most often are the reasons.

1. It is too hard and too much “legalese”.
2. We do not have any extra money to invest in a planned giving program especially staff.
3. We doubt whether we really have any planned giving prospects.

Lawrence Pierce-Durance went on to say these reason are myths and believes this video will show you why.

To begin it is important to know that of all the planned gifts made where nonprofits are recipients, 75% are in the form of will and bequests. So the focus will be on will and bequests for now. Establishing a wills and bequest program is relatively easy and in this order.

1. With every communication you have with your donor base be it by mailing, printed brochures, email or any social media, make sure there is a box somewhere to check (literally or electronically) that says “Please send me information on how I might consider making a provision in my will for (name of your organization)”. 
2. Once you begin to receive any responses, you must follow-up those with these people.  A basic pro forma piece that describes various ways to put your organization in a will along with your organization’s legal name should be enclosed. Lawrence Pierce-Durance says you can Google for samples or contact him through his website (pdsolutionsfundraise.com) and he will be happy to send a sample to you. Once you have a pro forma piece that you have made your own, you need to have a lawyer look it over to make sure it follows whatever guidelines are required in your state.
   
3. Once you have responded with your piece, Lawrence suggests waiting a week or two at most and then follow up with a call to see if the person has any questions or comments. You may only get a voicemail or they may not have any questions. So be it. Do not hassle them. From this point forward you have a planned gift prospect and they should be treated like any other special or major gift prospect.
   
4. At the same time you are working on the above, Lawrence Pierce-Durance urges you to educate and work with your Board. Most important – the Board needs to understand a will and bequest program is not a “quick fix”. It is inexpensive to start but statistically speaking, it takes on average five to seven years before your organization will begin to see results.
   
5. Next with your Board, they need to adopt a will and bequests “gift acceptance policy”. You can Google to get samples or Lawrence will be happy to send a sample along. Just contact him through his website.
   
6. With the gift acceptance policy adopted by your Board, you have a wills and bequest program. As you move along with this program and keep your Board apprised of progress and issues, Lawrence urges you begin talking about Board members making provision in their wills for your organization.

        That is a very brief overview and that isall there is to it.
Now get on with it.

In the next video, Lawrence Pierce-Durance will go over in layman’s terms some of the other most common planned giving instruments after will and bequests. This includes trusts, insurance, contracts and others. In the meantime, if you wish to discuss any of this, please feel free to contact him through his website (at no charge, really!) – pdsolutionsfundraise.com.

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