Posts tagged ‘Bequest Potential Calculator’

January 12, 2018

Hang-on to the Holiday Spirit with FREE Gifts and Resources to Raise More Money!

For most of us, whether we observe Hanukkah, Christmas, or just the New Year, the holiday season is an uplifting time full of joy. However, the same cannot always be said of the post-holiday period, according to Linda Walter, LCSW. Her article in Psychology Today cites many reasons for the post-holiday blahs, for some, even depression.

As an antidote for the after-holiday letdown, I want to share several free resources with you that just might help you keep the holiday spirit going while also helping you raise more money in 2018.

The Donor-Advised Fund Widget. For starters, let me tell you about the Donor-Advised Fund Widget created and offered free-of-charge by the generous folks at MarketSmart. This useful, free gift will help you continue to celebrate the season and raise more money for your nonprofit organization.

When it comes to fundraising, a general rule is: Make it easy for people to give your organization money. You probably already do this in a number of ways. For example, your organization probably allows donors to place gifts on their credit card, mail a check in a business reply envelope you supply, give online, or contribute when they buy products (e.g., Amazon Smile).

So, why not also make it easy for someone to recommend a donation from his or her DAF account?

Rather than viewing DAFs as enemies that divert vitally needed funds away from charities, nonprofit organizations should view DAFs as a great fundraising opportunity. Unfortunately, the problem is that nonprofits have not made it easy for people to donate from their DAF accounts…until now.

Greg Warner, Founder and CEO of MarketSmart, says:

Amazon is successful primarily because they make it easy to buy stuff. Similarly, if nonprofits just made it easy to transfer DAF money, the bottleneck would get un-clogged. But no one was stepping up. So I did!”

The DAF Widget goes on your organization’s website. Your donors with DAF accounts then can easily find their account management company from a comprehensive list of over 800 service providers. Then, they simply click to go directly to their DAF management company’s website where they can enter the relevant information to make a donation recommendation for your organization. To see the widget live, visit the Navy-Marine Corps Relief Society website by clicking here.

DAFs are an increasingly valuable source of donations for charities. Consider the following market-wide insights from The National Philanthropic Trust 2017 Donor-Advised Fund Report:

  2012 2016
Number of DAF Accounts 204,704 284,965
Total Assets in DAF Accounts $44.71 billion $85,15 billion
Grants from DAF Accounts $8.5 billion $15.75 billion
Ave. DAF Asset Size $218,413 $298,809

To put the above figures into context, non-corporate private foundations gave $45.15 billion to charities in 2016. By contrast, donations made from DAFs totaled $15.75 billion that same year, equating to roughly one-third (34.8 percent) of the estimated amount granted by non-corporate private foundations.

In other words, DAF donations represent a significant and growing source of gifts for nonprofit organizations. However, to get your share, you need to make it easy for people to recommend donations from their DAF accounts. That’s why MarketSmart created the free DAF Widget.

You can learn more about the DAF Widget and claim yours by clicking here.

There is just one catch, if you want to call it that. The DAF Widget is in its Beta Edition. So, MarketSmart is looking for feedback, either directly or through comments below. Then, Greg promises to invest more time and money to make the DAF Widget even better. So, if you use the DAF Widget, please let us know how you think it could be made easier to use and more effective.

Here are seven additional resources for you to help get 2018 off to a great start:

read more »

Advertisements
June 19, 2015

Are You Throwing Away Planned Gift Opportunities?

Since 1974, Charitable Bequest gifts have totaled seven to nine percent of overall philanthropic giving.

In 2014, Bequest revenue totaled $28.13 billion, accounting for eight percent of overall giving and an increase over 2013 of 13.6 percent (adjusted for inflation). These figures come from the recently released Giving USA 2015: The Annual Report on Philanthropy for the Year 2014.

Here are some questions to help you determine if your organization is getting its appropriate share of the Charitable Bequest pie:

Does your organization have a planned giving program?

If your organization has a planned giving program, good for you; skip to the next question.

LuMaxArt FS Collection Orange0128 by Scott Maxwell via FlickrIf your organization does not have a planned giving program, why not? The only valid reason for not promoting planned giving is that your organization does not have any individual donors. If your organization has individual donors, there’s no reason not to have a planned giving effort.

While smaller nonprofit organizations might not have elaborate, sophisticated planned giving programs, they can certainly promote Bequest giving, gifts through beneficiary designations, gifts of life insurance, donations from IRAs (when permitted by the government), contributions of appreciated stock, and gifts of personal property.

By promoting planned giving, even small charities can get a slice of the Bequest pie. Not only that, they can even help grow the pie. Just over five percent of Americans name a charity in their will. However, one-third say they would be willing to consider including a charity in their will. There is a massive chasm between these two figures. If more nonprofits ask more people for more planned gifts, we could see far more than five percent of Americans including a charity in their will.

To learn more about planned gifts any organization can seek and how to get them, register for my free webinar “Planned Giving: It’s Easier than You Think!,” hosted by Wild Woman Fundraising on July 17, 2015, 3:00 PM (ET) to 4:30 PM (ET).

Do you have a ROBUST planned giving program?

Okay, you have a planned giving program. Good. But, is it a robust effort or do you simply market passively or focus primarily on your wealthiest donors?

If you simply market passively and expect your donors to make a planned gift without being asked, you’re missing out on gifts your organization should be getting. Just like with any other type of fundraising, you actually have to ask for Bequest commitments if you want them.

If you focus only on your wealthiest, biggest donors, you’re missing a huge opportunity to grow your results. Yes, it’s true that wealthy donors leave the most to charities. In 2014, “estimated Bequest giving from estates with assets $1 million and above amounted to $22.12 billion,” according to Giving USA 2015, while “estimated Bequest giving from estates with assets below $1 million amounted to $6.01 billion.” However, there’s still a lot of money being raised from less wealthy supporters. And there is tremendous potential to raise even more from these individuals.

Here’s what Giving USA 2015 has to say about prospecting for Bequest intentions:

read more »

November 8, 2013

Free, Electronic Bequest-Potential Calculator Unveiled

Smart fundraising professionals realize the value of understanding their nonprofit organization’s planned giving potential. Unfortunately, it has not always been easy to quantify that potential, until now.

Bequest Potential CalculatorCharities that do not have a planned giving program will want to know how much money their organization can raise through such a program before they decide whether a budget investment would be worthwhile.

Nonprofit organizations that already engage in planned giving will want to know whether their program is achieving all it can or if there is room for significant growth.

Nonprofit Chief Executive Officers, Chief Financial Officers, and board members, will want to know the potential of planned giving before they agree to invest scarce budget resources in a program to acquire planned gifts.

To help fundraising professionals gauge their organization’s planned giving potential, I included a “Bequest Potential Worksheet” in my award-winning book Donor-Centered Planned Gift Marketing. Now, I’ve collaborated with Greg Warner and his team at MarketSmart to develop the free, electronic Bequest Potential Calculator.

read more »

November 1, 2013

6 Ways to Raise More Money without New Donors!

If you achieve your fundraising goal this year, your reward will likely be an increased goal next year. At most nonprofit organizations, the struggle to raise ever-increasing amounts of money never ends. This drives many nonprofits into a continuous donor-acquisition mode.

However, you don’t need a single new donor to raise more money.

Given that the cost to acquire a new donor is often $1, or more, for every $1 raised, finding a new donor does not even help most organizations with short-term mission fulfillment.

So, how can you raise significantly more money for mission fulfillment without acquiring new donors? Here are just six ideas:

1. Ask for More. I still receive direct mail appeals that say, “Whatever you can give will be appreciated.” Ugh! That’s not an ask. If you want people to give, and give more, you need to state your case for support. Then, you need to ask for that support in the correct way.

Many charities simply seek renewal gifts. If I gave $50, the charity will simply ask me to renew my $50 support. Sometimes, a charity will randomly ask me for an amount series (i.e.: $100, $250, or more) that has nothing to do with my previous level of support.

However, there is a better way. Try saying this:

I thank you for your gift of $50 last year that helped us achieve __________. This year, as we strive to __________, may I count on you to increase your support to $75 or $100?”

Thank the donor. Mention how the organization used her previous gift. Establish the current case for support. Ask for a modest increase linked to the amount of the previous gift. A hospital in New York state tested this approach against its traditional approach and saw a 68% increase in giving.

2. Second Gift Appeal. Just because someone has given your organization money does not mean you have to wait a year to ask for more. If you first properly thank the donor and report on how his gift has been put to use, you can then approach him for a second gift. However, you need to have a good case for going back to the well.

Growing Money by Images_of_Money via FlickrMost grassroots donors don’t think, “What’s my annual philanthropic sense of responsibility to this charity? Fine. That’s how much I’ll give.” Instead, most grassroots donors look at the charity they wish to support and then consider how much money they have left over after they pay the monthly bills. Then, they give from that reservoir of disposable income. Guess what? Next month, and every month thereafter, that reservoir usually gets replenished. So, going back to the donor for an additional gift can work, again, if you have a strong case for support. By the way, the replenishing disposable income reservoir is one reason why monthly donor programs can be effective (see below).

3. Recruit Monthly Donors. Way back in 1989, I wrote an article for Donor Developer in which I predicted that every nonprofit in America would have a monthly donor program within five years. Sadly, I was very mistaken. Even in 2013, too few charities host a monthly donor program.

read more »

%d bloggers like this: