Five Basic Steps to Getting Started

1. Get the commitment of the board. If an organization is starting or expanding a legacy giving program, a good place to start is with the board of directors or development committee. It is important to have their commitment firmly behind the decision to invest time and resources in planned giving, knowing that financial results may not be immediate, but will be significant. According to Fundraising & Philanthropy Magazine[5], organizations can expect an average return of $56.83 for every dollar spent on fundraising bequest gifts. By contrast, major giving reaps a return of $33.33 per dollar spent, while direct mail earns $3.66 per dollar spent. Once committed, the board members should be among the first donors to join the legacy program. Listing the board members as legacy members will provide an example for other donors and help ensure a successful launch of the program. Additionally, make sure to add legacy gifts already known to be coming and consider adding realized legacy gifts to show a history of philanthropy at the organization.

2. Establish a name for the legacy society. Many organizations use the name of someone instrumental in establishing the organization, for example, a founding president or artistic leader. Whatever is decided, the name should be personal to the organization, a name that others might associate with a legacy society, and a name that can stand up over time. Including the word legacy in the name is often an easy way to convey how this program is different from an annual fund program, membership, or other donor society that might already exist.

3. Create giving options and guidelines. If the organization already has gift guidelines in place, then add information on the planned giving opportunities for donors. If there are no gift guidelines, they must be established, including a section on planned giving, that are ratified by the development committee or the board of directors. Two key questions to consider when establishing these guidelines are:

1. • What types of planned gifts will be accepted? Simplicity is best, especially in the beginning. Additional ways to give can always be added as the program expands over time. Again, the majority of all planned gifts are bequests, nearly 90 percent according to EveryAction[6], which further reports that charitable bequests usually fall into three categories:

• • • Specific Amount: A donor allocates an exact set of funds to an organization.

• • • Remainder: A donor chooses to have a nonprofit receive any money left after all other bequests are paid out.

• • • Percentage: A donor choses to gift the organization a set percentage of his or her total wealth.

1. • How will you recognize potential legacy society donors? As above, simplicity is recommended, e.g., a listing on the organization’s website or in an annual report. An organization might also consider an annual event to recognize legacy donors and keep them engaged with the organization.

4. Design a bequest form. The form should include a short introduction about the legacy society and its importance to the organization. It should also include the types of planned gifts accepted as well as the stewardship and recognition that supports legacy donors. Information on legacy naming forums as well as information on the option to remain anonymous. To note, many legacy gifts are made to honor or pay tribute to another person, so it is important to provide that recognition option. The remainder of the form should be used to capture donors’ names and contact information, along with their signatures. A final option is to allow a space to capture contact information of the donors’ heirs, so communication can be established with family members once the bequest or planned gift is realized.

5. Train board and staff members. Organizations sometimes establish programs but fail to integrate board and staff training into them. Not all board and development team members feel comfortable talking about planned giving because it deals with death and money, two topics that are often hard to talk about. Providing guidance and emphasizing that such conversations are of service to donors, rather than a burden, will help ensure success. One way is to offer a few key phrases to help transition giving conversations to include legacy giving. For example, "we have this wonderful program that would allow you to continue to support the XYZ organization at your same level in perpetuity.” Provide ways for board members, as well as development, executive and program staff, to introduce and incorporate legacy giving into donor conversations and the program will flourish.