At a recent planned giving event, Tom Waters, Vice President of Charitable Planning at the Community Foundation of Sarasota shared that planned giving efforts often ebbed and flowed in nonprofits organizations.
As someone who helps nonprofits to make dramatic improvements in their effectiveness, I asked Waters for his suggestions on how we can institutionalize planned giving to avoid these ups and downs. In a busy nonprofit, it is too easy to get busy, drop planned giving efforts and in the hiatus miss a $250,000 gift.
To institutionalize planned giving, Waters suggested:
1. Designing your planned giving work to create future and current gifts.
2. Involving the Executive Director. Waters recommended that this be a significant part of their job descriptions and measured in their evaluation. While planned giving efforts need Board support, Waters believes the key leader is the executive director.
3. Adopting a long-term vision about planned giving.
Are you serious about planned giving? Are you serious about creating a planned giving program that lasts? Build your program around these elements.
If you seek additional information about obtaining income for your nonprofit, red this article: How Will We Pay for This? 14 Ways to Obtain Income.
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