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How do you describe your station's planned gift marketing? A gleam in the eye, underway for a year or so, or a mature program? No matter what its status, there is no better time than NOW to focus maximum attention on marketing planned gifts.
You've heard of the astounding $41 trillion dollar wealth transfer scheduled during the next fifty years. It's true! Conservatively, $6 trillion of this amount will be in charitable bequests. Shouldn't your station share in these gifts? It will, once you get underway or ramp up your current planned gift marketing efforts. Let's not leave any money on the table!
A Message to the CEO
Many of your colleagues are succeeding in planned giving. In recent years, stations in New York, Salt Lake City, Boston, San Francisco, Oregon, Los Angeles and Minnesota have raised many, many millions of dollars, most from simple bequests. Several of these stations are quite large, of course, but their success does not depend on their size. The key is their energetic use of simple, straightforward marketing techniques available to us all.
John Bittrick, former director of major and planned giving for PBS, makes a strong case for planned giving in public television in this excellent article (PDF, 91KB).
Roles and Responsibilities
Although many stations combine responsibility for major and planned giving under one development officer, they are quite different. The best prospects for planned gifts are quite often long-time donors of small gifts who have not had any formal cultivation. Conversations with these donors take place over a long period of time and are often more intimate than those with major annual donors — dealing with confidential financial details and even family relationships.
As a result, CEOs and board members are less actively involved with planned gift solicitation than they are in major giving. But this does not mean that they do not play important roles. And development directors play a crucial role.
- The CEO:
- Actively supports the planned giving effort and makes certain the board understands its long-term importance to the station's health.
- Personifies the organization and through cultivation activities gives donors the confidence that their gift will be wisely spent.
- Commits adequate resources to planned giving and makes certain that commitment remains in place from year to year.
- The Board:
- Reviews, approves and understands the policies of the planned giving program. This is an important task that must not be rubber-stamped.
- Insures that the policies are carried out and, as trustees, protect the donors' investments in the station by insuring sound financial management.
- Actively advises the planned giving officer of planned giving prospects and if possible includes the station in their own estate plan.
- In addition, individual members of the board may have expertise that they can contribute as planned giving advisors. But the planned giving advisory committee should never be solely a board committee.
- The Development Director:
- Establishes the program, provides staff, if possible, and maintains the resource commitment in the face of competing demands, due to the significant long-range opportunity afforded by planned giving.
- Manages the planned giving officer, serving as mentor and counselor, and evaluates the progress of the program, offering revisions where needed.
- Plays an active role in donor cultivation to promote the relationships on which planned gifts are based.
- Advocates for the program to the board, management, staff, and volunteers so that they recognize its importance to the financial health of the station.
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More than 75% of planned gift donors say the charity treats them no differently since learning of their gift. Another important reason to establish a proactive Heritage club to keep in touch with your donors who, by the way, are the best prospects for additional planned gifts!
Donors want to know! Over 95% of planned giving donors cite "Desire to Support the Charity" as the most important reason for their gift. But more than 80% of donors cite "The Use of the Gift by the Charity" as an important factor as well. Be sure to cite your long term mission and short term goals when asking for a planned gift.
Overall fund-raising costs for organizations with mature planned giving programs are generally 30% less than fund-raising costs for those without such programs. Get your program underway now, and you'll soon bring in more funds at less cost... and raise your image among today's increasingly cost-conscious major givers and foundations.
An investment in planned giving is an essential element when one thinks of individual giving. I believe public television is better positioned than most non-profit organizations to reap great benefits. Although we all share a concern about growing our membership, the depth of loyalty among those who already support us is staggering. Presenting the opportunity to these individuals to leave a legacy for something that has meant so much to them, is not only "good business," it is our obligation.
So many of the issues that consume our time and energies would dissipate with more resources, and it's time now, in light of the funding challenges of the new digital age, to look squarely and unstintingly at what our options are for a more sustainable financial foundation across the board.
PDF Files: To read and print PDF documents, you
will need Adobe Acrobat Reader.
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A Message to the CEO
