Myths (& Facts) on Planned Giving

planned giving myths and facts

Get your board on board and let them see the value of planned giving with these Myths and Facts. You can also purchase the expanded professional version of this post in PowerPoint Perfect for your next board meeting or legacy society gathering.

You can also evaluate your board’s readiness here.

Engaging a board is critical for long term sustainability. The board of directors plays a critical role in the growth of your organization. And since many are “community players” they themselves can influence gifts.

Want to make your job easier and be more successful? Engage with your board, and engage with advisors.

Myth:
Planned gifts compete with major gifts.
Fact:
Most planned giving donors are not prospects for large major gifts.

Myth:
We are not ready for planned giving.
Fact:
If you are a non-profit, you already are in the planned giving business.

Myth:
All planned gifts are deferred.
Fact:
Many planned gifts come in sooner than you think. And the fact is, the more you put off planned giving the more deferred they become.

Myth:
All planned giving donors are old.
Fact:
Younger donors will determine the future of your organization. Besides, age is in the eyes of the beholder and it’s a matter of mind. When you don’t mind, it doesn’t matter!

Myth:
Planned giving is for the wealthy.*
Fact:
Donors at all financial levels make planned gifts. In fact, some planned gifts, such as bequests, do not affect one’s cashflow during his or her lifetime.

Myth:
My prospects are not online.
Fact:
Your website is the first place your prospects will go for information.

Myth:
The real money is in current gifts.
Fact:
Only 5% of this nation’s wealth is in cash… you do the math.

Myth:
Planned gifts are a distraction in campaigns.
Fact:
They provide 30% or more of comprehensive campaign totals.

Myth:
Planned giving is complex, expensive and time-consuming.
Fact:
Planned giving can be as simple as you want it to be. And several planned gifts do not require an attorney.

*Jennifer Meckling at the Oklahoma City Foundation says it well: “Just because a donor doesn’t have cash doesn’t mean they don’t have assets that could be turned into a significant charitable contribution.”

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