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A Planned Giving Program  in One Hour per Week April 6, 2011 Wells Fargo Private Bank provides financial services and products through Wells Fargo Bank, N.A. and its affiliates. Wells Fargo & Company cannot provide tax advice. Please consult your professional tax advisor to  determine how this information may apply to your own situation. Dan Harris Senior Vice President, Regional Manager Wells Fargo Philanthropic Services 720-947-6775 [email_address]
Introductions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],PG doesn’t have to be  complicated or  time-consuming.
Intro to Planned Giving ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Intro to Planned Giving ,[object Object],[object Object],[object Object]
What is Planned Giving? ,[object Object],[object Object],[object Object]
Gift Planning Strategies ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Gift Planning Program 1. The active solicitation of planned gifts. 2. Any efforts undertaken in the process of  marketing, cultivating,  designing,  facilitating, and  stewarding gifts to charitable  organizations.
2009 charitable giving  Total = $303.75 billion   Source: Giving USA Foundation ™  /  Giving USA 2010 Why? Individuals $227.4  75% Foundations $38.4  13% Bequests $23.8   8% Corporations $14.1 5%
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Why?
WHY? ,[object Object],[object Object],[object Object],[object Object]
WHY? ,[object Object],[object Object],[object Object],[object Object],[object Object]
Helene Whitlock Alley  and her husband, Reuben E. Alley Jr . “ Fire Victim Leaves Millions” Washington Post, February 7, 2008 ,[object Object],[object Object],[object Object]
“ Big Donation Saved Bit by Bit” Grand Junction, Colorado The Daily Sentinel, February 10, 2008 ,[object Object],[object Object],[object Object],[object Object],Crawford, Colorado.  Delta County. Population 366 in 2000 census.
Why Planned Giving? ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Percentage of respondents who have created a planned gift: Campbell, 2007:  ~8% PPP, 2001:  ~11% Iceberg (Direct Mail), 2007:  ~17% Percentage of respondents who would consider leaving a PG:  Iceberg (Direct Mail), 2007:  ~18% Campbell, 2007:  ~31% Why Planned Giving?
TRUE or FALSE? Most Planned Gifts are Bequests and  Beneficiary Designations TRUE: 80%   (Partnership for Philanthropic Planning 2001 survey)
Bequest used as Vehicle:  PPP (survey of donors),  2001 :    ~80% Iceberg (survey of nonprofits),  2007 : 90% to 100% Bank of America  (High Net-Worth Philanthropy), 2008: Vehicles used by High Net-Worth Households: Bequest 55.9% Donor-Advised Fund 20.6% Charitable Trust 17.3% Foundation 13.9% Charitable Gift Annuity     8.4% TRUE:  Bequests & Beneficiary Designations
TRUE or FALSE? Most people tell the charity about the planned gift. FALSE: 67% Don’t Tell  (Partnership for Philanthropic Planning 2001 survey)
Percentage who have informed charity:   Iceberg (Direct Mail), 2007:    ~8% PPP, 2001:     ~33% Stelter/Selzer (age 40+), 2008:  ~36% Myth: Most People will Tell You
Charitable Bequests are made mostly by WEALTHY people FALSE:  At time of bequest commitment, 58% of bequest donors had income of less than $75,000. (Partnership for Philanthropic Planning 2001 survey) TRUE or FALSE?
Partnership for Philanthropic Planning, 2001 : Income at time of bequest commitment: <$20k  11% $20-34.9  12% $35-49.9  13% $50-74.9  22% $75-99.9  14% $100-124.9  12% $125-149.9  5% $150-174.9  4% $175+  8% Median: $60.4 / Mean: $75.9 Myth: Only Wealthy People 58%
Myth: Only Wealthy People Conclusion: Don’t limit marketing only to wealthy people. Type of Ask: ,[object Object],[object Object],[object Object],[object Object],Prospect Thinks: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Charitable Bequests are made mostly by OLDER people FALSE (Partnership for Philanthropic Planning 2001 survey) TRUE or FALSE?
PPP, 2001 : Age at time of bequest commitment: 18-34  3% 35-44  14% 45-54  26% 55-64  22% 65-74  20% 75+  15% Mean age: 58 Myth: Only Older People Campbell & Company, 2007 : Has charity named  in will: <30  0.7% 30-40  8.9% 40-50  28.1% 50-60  21.9% 60-70  20.6% 70-80  11.0% 80+  8.9% 65% 60% Conclusion: Don’t limit marketing only to older people.
People give primarily to reduce taxes FALSE (Partnership for Philanthropic Planning 2001 survey) TRUE or FALSE?
Motivation PPP, 2001 : Desire to support the charity  97% The ultimate use of gift by the charity  82% Desire to reduce taxes  35% Long-range estate / planning issues  35% Create a lasting memorial for self or loved one  33% FALSE
Motivation for Wealthy Donors Bank of America, 2008 : Give Back to Community 81% Support Same Orgs / Causes Annually 71% Social Beliefs 70% Moved at How Gift Can Make a Difference 67% Feel Financially Secure  65% Political / Philosophical Beliefs 59% Remedy Issues Affecting Me Personally 58% Religious Beliefs 51% Being Asked 48% Public Recognition   5% Conclusion: Your mission, and how you share it, is essential. FALSE
Leaving money to charity in your  estate plan requires hiring an attorney  FALSE: Beneficiary Designations  do not require an attorney. TRUE or FALSE?
The Best indicator that a person is likely to leave a bequest is their WEALTH   FALSE: The best predictor is LOYALTY Source:  Samuel D. Caldwell , President, The Planned Giving Company. “The Old Gray Mare Ain’t What She Used to Be: The Revolution in Planned Giving Marketing.” 2007, 2008 TRUE or FALSE?
Loyalty The best predictor of willingness to make a planned gift:  long-term loyalty   to your institution or cause . Fact: over 90% of planned giving donors exhibit loyal patterns of giving. Source:  Samuel D. Caldwell , President, The Planned Giving Company. “The Old Gray Mare Ain’t What She Used to Be: The Revolution in Planned Giving Marketing.” 2007, 2008 © 2007 The Planned Giving Company LLC  (used with permission)
Which Donors are the best planned giving prospects?   Answer:  those who are loyal. Next Question:  How do you measure loyalty? Loyalty
The PRIMARY way that donors hear about gift planning options is at a  Face-to-Face Meeting  with a representative of the charity  FALSE TRUE or FALSE?
How Learned About PPP, 2001 : How Donors First Learned about Gift Options The Charity through its published materials  34% A legal or financial advisor 21% Family or Friends  20% The Charity through an individual visit   11% Speaker at a financial planning seminar    8% General knowledge / self   7% Another donor   6% Other   6% Don’t Know / no answer   9% Conclusion: Telling your constituents about PG is essential.
For the INITIAL contact to discuss estate gifts to a charity,  Most People Prefer to schedule a  Face-to-Face Meeting   with someone from the charity  TRUE or FALSE?
Stelter / Selzer Survey, 2008 : Preferences for  INITIAL CONTACT  about including a nonprofit in their estate:  Send Information in Mail  42% Call Personally on Phone   8% Work Through Advisor    8% Contact By Email    6% Arrange in-person Meeting    3% Not Sure 39% When Respondent HAS NO WILL IN PLACE:  Send Information in Mail  67% FALSE: Donors Prefer Face-to-Face?
Strategies: What You Need to Know ,[object Object],[object Object],[object Object]
PG: Getting Started “ Bequest Program Fact Sheet for Board Members” ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Planned Giving “Stuff” ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
See the “Weekly Activity” Handout. PG: Getting Started
Top Five Things to Do ,[object Object],[object Object],[object Object],[object Object],[object Object],Look at the  Graphic Standards & Usage Manual
[object Object],[object Object],Please remember XYZ in your will, trust, or other estate plans. Newsletters / Direct Mail Appeals / Gift Acknowledgements Letterhead / Business Cards / Brochures Annual Reports / Press Releases / Event Programs Board and Committee Meeting Agendas Create “Tickler” to include when these are updated. Top Five Things to Do
[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],Top Five Things to Do
One Hour Per Week 6. Leave-A-Legacy: Brochure
One Hour Per Week 7. Leave-A-Legacy: Advertisement
Leave-A-Legacy: Advertisements ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
One Hour Per Week 8. List donors who have given in each of last three years (or more), or otherwise are  loyal donors . ●  Make a schedule to call them ●  Send LAL brochure with next communication 9. Make a list your senior or most  loyal volunteers . Send a thank you letter with LAL brochure.
One Hour Per Week 10. Write an  article  for your newsletter or website.  Discuss your org’s need for long-term funding. Include:  “ Have you ever considered an  estate gift  to (your org)? A charitable bequest provides an opportunity to give something back to your community, helping our programs and services long into the future. We would be honored by your support. Please feel free to contact (name and contact info) with any questions. Thank you for your confidence in our efforts.”
PG Additional Notes ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Planned Giving Training Minnesota Planned Giving Council www.MNPGC.org
Communicating With Donors ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object]
Dan Harris Senior Vice President, Regional Manager Wells Fargo Philanthropic Services 720-947-6775 [email_address] Questions? Please Email or Call With Additional Questions! See accompanying paper for list of resources.

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WEBINAR: Planned Giving on One Hour Per Week

  • 1. A Planned Giving Program in One Hour per Week April 6, 2011 Wells Fargo Private Bank provides financial services and products through Wells Fargo Bank, N.A. and its affiliates. Wells Fargo & Company cannot provide tax advice. Please consult your professional tax advisor to determine how this information may apply to your own situation. Dan Harris Senior Vice President, Regional Manager Wells Fargo Philanthropic Services 720-947-6775 [email_address]
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  • 7. Gift Planning Program 1. The active solicitation of planned gifts. 2. Any efforts undertaken in the process of marketing, cultivating, designing, facilitating, and stewarding gifts to charitable organizations.
  • 8. 2009 charitable giving Total = $303.75 billion Source: Giving USA Foundation ™ / Giving USA 2010 Why? Individuals $227.4 75% Foundations $38.4 13% Bequests $23.8 8% Corporations $14.1 5%
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  • 15. Percentage of respondents who have created a planned gift: Campbell, 2007: ~8% PPP, 2001: ~11% Iceberg (Direct Mail), 2007: ~17% Percentage of respondents who would consider leaving a PG: Iceberg (Direct Mail), 2007: ~18% Campbell, 2007: ~31% Why Planned Giving?
  • 16. TRUE or FALSE? Most Planned Gifts are Bequests and Beneficiary Designations TRUE: 80% (Partnership for Philanthropic Planning 2001 survey)
  • 17. Bequest used as Vehicle: PPP (survey of donors), 2001 : ~80% Iceberg (survey of nonprofits), 2007 : 90% to 100% Bank of America (High Net-Worth Philanthropy), 2008: Vehicles used by High Net-Worth Households: Bequest 55.9% Donor-Advised Fund 20.6% Charitable Trust 17.3% Foundation 13.9% Charitable Gift Annuity 8.4% TRUE: Bequests & Beneficiary Designations
  • 18. TRUE or FALSE? Most people tell the charity about the planned gift. FALSE: 67% Don’t Tell (Partnership for Philanthropic Planning 2001 survey)
  • 19. Percentage who have informed charity: Iceberg (Direct Mail), 2007: ~8% PPP, 2001: ~33% Stelter/Selzer (age 40+), 2008: ~36% Myth: Most People will Tell You
  • 20. Charitable Bequests are made mostly by WEALTHY people FALSE: At time of bequest commitment, 58% of bequest donors had income of less than $75,000. (Partnership for Philanthropic Planning 2001 survey) TRUE or FALSE?
  • 21. Partnership for Philanthropic Planning, 2001 : Income at time of bequest commitment: <$20k 11% $20-34.9 12% $35-49.9 13% $50-74.9 22% $75-99.9 14% $100-124.9 12% $125-149.9 5% $150-174.9 4% $175+ 8% Median: $60.4 / Mean: $75.9 Myth: Only Wealthy People 58%
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  • 23. Charitable Bequests are made mostly by OLDER people FALSE (Partnership for Philanthropic Planning 2001 survey) TRUE or FALSE?
  • 24. PPP, 2001 : Age at time of bequest commitment: 18-34 3% 35-44 14% 45-54 26% 55-64 22% 65-74 20% 75+ 15% Mean age: 58 Myth: Only Older People Campbell & Company, 2007 : Has charity named in will: <30 0.7% 30-40 8.9% 40-50 28.1% 50-60 21.9% 60-70 20.6% 70-80 11.0% 80+ 8.9% 65% 60% Conclusion: Don’t limit marketing only to older people.
  • 25. People give primarily to reduce taxes FALSE (Partnership for Philanthropic Planning 2001 survey) TRUE or FALSE?
  • 26. Motivation PPP, 2001 : Desire to support the charity 97% The ultimate use of gift by the charity 82% Desire to reduce taxes 35% Long-range estate / planning issues 35% Create a lasting memorial for self or loved one 33% FALSE
  • 27. Motivation for Wealthy Donors Bank of America, 2008 : Give Back to Community 81% Support Same Orgs / Causes Annually 71% Social Beliefs 70% Moved at How Gift Can Make a Difference 67% Feel Financially Secure 65% Political / Philosophical Beliefs 59% Remedy Issues Affecting Me Personally 58% Religious Beliefs 51% Being Asked 48% Public Recognition 5% Conclusion: Your mission, and how you share it, is essential. FALSE
  • 28. Leaving money to charity in your estate plan requires hiring an attorney FALSE: Beneficiary Designations do not require an attorney. TRUE or FALSE?
  • 29. The Best indicator that a person is likely to leave a bequest is their WEALTH FALSE: The best predictor is LOYALTY Source: Samuel D. Caldwell , President, The Planned Giving Company. “The Old Gray Mare Ain’t What She Used to Be: The Revolution in Planned Giving Marketing.” 2007, 2008 TRUE or FALSE?
  • 30. Loyalty The best predictor of willingness to make a planned gift: long-term loyalty to your institution or cause . Fact: over 90% of planned giving donors exhibit loyal patterns of giving. Source: Samuel D. Caldwell , President, The Planned Giving Company. “The Old Gray Mare Ain’t What She Used to Be: The Revolution in Planned Giving Marketing.” 2007, 2008 © 2007 The Planned Giving Company LLC (used with permission)
  • 31. Which Donors are the best planned giving prospects? Answer: those who are loyal. Next Question: How do you measure loyalty? Loyalty
  • 32. The PRIMARY way that donors hear about gift planning options is at a Face-to-Face Meeting with a representative of the charity FALSE TRUE or FALSE?
  • 33. How Learned About PPP, 2001 : How Donors First Learned about Gift Options The Charity through its published materials 34% A legal or financial advisor 21% Family or Friends 20% The Charity through an individual visit 11% Speaker at a financial planning seminar 8% General knowledge / self 7% Another donor 6% Other 6% Don’t Know / no answer 9% Conclusion: Telling your constituents about PG is essential.
  • 34. For the INITIAL contact to discuss estate gifts to a charity, Most People Prefer to schedule a Face-to-Face Meeting with someone from the charity TRUE or FALSE?
  • 35. Stelter / Selzer Survey, 2008 : Preferences for INITIAL CONTACT about including a nonprofit in their estate: Send Information in Mail 42% Call Personally on Phone 8% Work Through Advisor 8% Contact By Email 6% Arrange in-person Meeting 3% Not Sure 39% When Respondent HAS NO WILL IN PLACE: Send Information in Mail 67% FALSE: Donors Prefer Face-to-Face?
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  • 39. See the “Weekly Activity” Handout. PG: Getting Started
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  • 43. One Hour Per Week 6. Leave-A-Legacy: Brochure
  • 44. One Hour Per Week 7. Leave-A-Legacy: Advertisement
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  • 46. One Hour Per Week 8. List donors who have given in each of last three years (or more), or otherwise are loyal donors . ● Make a schedule to call them ● Send LAL brochure with next communication 9. Make a list your senior or most loyal volunteers . Send a thank you letter with LAL brochure.
  • 47. One Hour Per Week 10. Write an article for your newsletter or website. Discuss your org’s need for long-term funding. Include: “ Have you ever considered an estate gift to (your org)? A charitable bequest provides an opportunity to give something back to your community, helping our programs and services long into the future. We would be honored by your support. Please feel free to contact (name and contact info) with any questions. Thank you for your confidence in our efforts.”
  • 48.
  • 49. Planned Giving Training Minnesota Planned Giving Council www.MNPGC.org
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  • 51. Dan Harris Senior Vice President, Regional Manager Wells Fargo Philanthropic Services 720-947-6775 [email_address] Questions? Please Email or Call With Additional Questions! See accompanying paper for list of resources.

Notas del editor

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  37. Assumption: Room host will provide introductions. Additionally, Jack and Dan will provide brief introductions of their respective organizations, as appropriate.