Planned giving trends and issues that nonprofit organizations need to be aware of. The conversation, with Aquanetta Betts, the Director of Planned Giving at George Mason University,  provides insights for nonprofit professionals and leaders looking to build more robust fundraising strategies.
Here are some of the key take-aways Aquanetta shares on this fast-paced episode include:
Planned giving is a process that involves three parties: the donor, the organization, and another entity (such as an advisor or attorney) working together to facilitate a gift. This type of giving often involves more complex transactions than regular donations and can be a significant source of sustainable funding for nonprofits.
Baby Boomer Impact: The great wealth transfer from baby boomers presents a huge opportunity for planned giving efforts due to the substantial assets involved.
Age Segmentation: Focus on age groups 60-75 for targeted planned giving efforts, as these individuals are considering retirement and financial planning.
Stewardship and Legacy Societies: Stewardship is crucial for maintaining relationships with planned giving donors. Legacy societies provide ongoing engagement for confirmed planned gift supporters.
Engaging Professional Advisors: Collaborating with financial planners, estate planning attorneys, and other advisors strengthens planned giving strategies.
Board Members’ Role: Engage board members in advocating for planned giving and possibly making their own planned gifts.
Asking for Planned Gifts: Initiate conversations about planned giving, making soft asks and repeating the message over time.
Bequest Intention Forms: Create simple forms for donors to indicate their intention to include the nonprofit in their wills, gathering key information.
Regular Communication: Maintain periodic communication with donors who expressed planned giving intentions.