How do you develop and implement a planned giving program or a legacy campaign?

1 Assess your readiness

Before launching a planned giving program or a legacy campaign, it's important to assess your nonprofit's readiness and capacity to handle the legal, financial, and administrative aspects of planned gifts. Additionally, you should evaluate your donor base, fundraising goals, and organizational culture. To do this, ask yourself if you have a clear and compelling case for support that explains why donors should include your nonprofit in their estate plan. Do you have a dedicated staff person or team to manage the program or campaign? Are there necessary policies, procedures, and systems in place to accept, acknowledge, and steward planned gifts? Do you have a database or CRM that can track and segment donors by their planned giving potential and preferences? Lastly, does your board understand and support the program or campaign and are they willing to lead by example and make their own planned gifts?

2 Identify and cultivate your prospects

Once you have assessed your readiness, you need to identify and cultivate your prospects for planned giving. These are donors who have a strong affinity with your mission, a long-term relationship with your nonprofit, and the financial capacity to make a significant gift. To find and reach out to them, you can analyze donor data for indicators of planned giving potential such as age, giving history, loyalty, involvement, and wealth. Additionally, surveying donors about their interest in planned giving, their preferred gift type, and contact information can be helpful. Furthermore, educating donors and prospects about the benefits and options of planned giving through various channels such as website, newsletter, social media, events, and direct mail is essential. You can also invite them to join a legacy society or recognition program that honors those who have made a planned gift or pledge. Lastly, personalizing communication and cultivation strategies based on prospects' needs, motivations, and preferences is recommended.

3 Solicit and secure planned gifts

Solicitation and securing planned gifts from prospects is the most delicate and sensitive part of a planned giving program or legacy campaign. You must be respectful, empathetic, and professional when approaching prospects and asking for a planned gift. Additionally, be prepared to handle common objections, questions, and concerns that may arise. For example, use a soft ask with a conversational tone instead of a hard sell with formal language. Instead of focusing on technical details and tax benefits, emphasize the impact and legacy that the donor can create with their planned gift. Provide your prospects with necessary information and resources such as sample language, gift illustrations, and legal counsel to make an informed decision. Follow up until they confirm their planned gift or pledge, then document their gift intention and preferences. Finally, thank them promptly and sincerely for their planned gift or pledge.

4 Steward and retain your planned givers

The final step is to steward and retain your planned givers, or those who have made a planned gift or a pledge to your nonprofit. This is the most important and ongoing part of the planned giving program or the legacy campaign, as it ensures that your planned givers feel appreciated, valued, and connected to your nonprofit. To do this, communicate with them regularly and update them on your nonprofit's achievements, challenges, and opportunities. Additionally, invite them to exclusive events and activities that showcase your nonprofit's work and impact, and offer them opportunities to interact with your staff, board, and beneficiaries. It is also important to recognize and celebrate your planned givers publicly and privately, as well as feature their stories and testimonials in your publications and platforms. Furthermore, solicit feedback and input from them in order to involve them in your nonprofit's planning and decision-making processes. Lastly, monitor and report on the status of their gifts while also notifying them of any changes or issues that may affect their gift.

5 Here’s what else to consider

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