Planned Giving in a Small Shop

1. Planned Giving in a Small Shop: It CAN Be Done! Ligia Peña Fundraising Coach ligia@diversa.ca www.diversa.ca @lpdiversa

2. Time for a POP Quiz!

3. Time for a POP Quiz! The definition of planned giving is making a gift with the right asset, in the right way, at the right time for the right purpose.

4. Time for a POP Quiz! The definition of planned giving is making a gift with the right asset, in the right way, at the right time for the right purpose. ☐ True

5. Time for a POP Quiz! The definition of planned giving is making a gift with the right asset, in the right way, at the right time for the right purpose. ☐ True ☐ False

7. Time for a POP Quiz! From the list below, pick out the correct statement about planned giving.

8. Time for a POP Quiz! From the list below, pick out the correct statement about planned giving. ☐ Tax and financial benefits are the main motivating factors in planned gifts

9. Time for a POP Quiz! From the list below, pick out the correct statement about planned giving. ☐ Tax and financial benefits are the main motivating factors in planned gifts ☐ A planned gift is always made later - a person’s death

10. Time for a POP Quiz! From the list below, pick out the correct statement about planned giving. ☐ Tax and financial benefits are the main motivating factors in planned gifts ☐ A planned gift is always made later - a person’s death ☐ The most common type of planned gift is a bequest by will

12. Time for a POP Quiz! When assessing your readiness to start a planned giving program, you should look at your current donor base. Before starting your planned giving program, a rule of thumb is that you need a minimum of:

13. Time for a POP Quiz! When assessing your readiness to start a planned giving program, you should look at your current donor base. Before starting your planned giving program, a rule of thumb is that you need a minimum of: ☐ At least 100 donors who have given to you every year for the past 3 years, and at least 1000 donors over the age of 50

14. Time for a POP Quiz! When assessing your readiness to start a planned giving program, you should look at your current donor base. Before starting your planned giving program, a rule of thumb is that you need a minimum of: ☐ At least 100 donors who have given to you every year for the past 3 years, and at least 1000 donors over the age of 50 ☐ Experience soliciting major gifts

15. Time for a POP Quiz! When assessing your readiness to start a planned giving program, you should look at your current donor base. Before starting your planned giving program, a rule of thumb is that you need a minimum of: ☐ At least 100 donors who have given to you every year for the past 3 years, and at least 1000 donors over the age of 50 ☐ Experience soliciting major gifts ☐ If not a planned giving person, then at least a lawyer and an accountant on your board

16. Time for a POP Quiz! When assessing your readiness to start a planned giving program, you should look at your current donor base. Before starting your planned giving program, a rule of thumb is that you need a minimum of: ☐ At least 100 donors who have given to you every year for the past 3 years, and at least 1000 donors over the age of 50 ☐ Experience soliciting major gifts ☐ If not a planned giving person, then at least a lawyer and an accountant on your board ☐ Minimum of 5 years with an active fundraising programs

18. Time for a POP Quiz! You should set realistic goals for each phase of your new planned giving program. Which one of the following goals would not make sense for year one.

19. Time for a POP Quiz! You should set realistic goals for each phase of your new planned giving program. Which one of the following goals would not make sense for year one. ☐ Create your case for support

20. Time for a POP Quiz! You should set realistic goals for each phase of your new planned giving program. Which one of the following goals would not make sense for year one. ☐ Create your case for support ☐ Develop your basic policies and procedures

21. Time for a POP Quiz! You should set realistic goals for each phase of your new planned giving program. Which one of the following goals would not make sense for year one. ☐ Create your case for support ☐ Develop your basic policies and procedures ☐ Solicit the board to give their own planned gifts

22. Time for a POP Quiz! You should set realistic goals for each phase of your new planned giving program. Which one of the following goals would not make sense for year one. ☐ Create your case for support ☐ Develop your basic policies and procedures ☐ Solicit the board to give their own planned gifts ☐ Raise $100,000 in new planned gifts

23. Time for a POP Quiz! You should set realistic goals for each phase of your new planned giving program. Which one of the following goals would not make sense for year one. ☐ Create your case for support ☐ Develop your basic policies and procedures ☐ Solicit the board to give their own planned gifts ☐ Raise $100,000 in new planned gifts ☐ Develop and begin to implement your marketing plan

25. Time for a POP Quiz! When it comes to planned giving, it’s important that your ‘behind the scenes’ administrative systems are in order. Pick out the most important element that should be in place.

26. Time for a POP Quiz! When it comes to planned giving, it’s important that your ‘behind the scenes’ administrative systems are in order. Pick out the most important element that should be in place. ☐ Maintain a tickler system allowing you to follow up with your donors in a timely and appropriate way

27. Time for a POP Quiz! When it comes to planned giving, it’s important that your ‘behind the scenes’ administrative systems are in order. Pick out the most important element that should be in place. ☐ Maintain a tickler system allowing you to follow up with your donors in a timely and appropriate way ☐ Ensure all gifts can be receipted and acknowledged promptly

28. Time for a POP Quiz! When it comes to planned giving, it’s important that your ‘behind the scenes’ administrative systems are in order. Pick out the most important element that should be in place. ☐ Maintain a tickler system allowing you to follow up with your donors in a timely and appropriate way ☐ Ensure all gifts can be receipted and acknowledged promptly ☐ Call members of your planned giving advisory committee on a monthly basis

29. Time for a POP Quiz! When it comes to planned giving, it’s important that your ‘behind the scenes’ administrative systems are in order. Pick out the most important element that should be in place. ☐ Maintain a tickler system allowing you to follow up with your donors in a timely and appropriate way ☐ Ensure all gifts can be receipted and acknowledged promptly ☐ Call members of your planned giving advisory committee on a monthly basis ☐ Have your planned giving policies and procedures reviewed by a lawyer

31. Time for a POP Quiz! Answer true or false to this statement:

32. Time for a POP Quiz! Answer true or false to this statement: Your organization might consider partnering with a local community foundation so you can have en endowment fund. All community foundations share these features:

33. Time for a POP Quiz! Answer true or false to this statement: Your organization might consider partnering with a local community foundation so you can have en endowment fund. All community foundations share these features: - They are public charitable organizations

34. Time for a POP Quiz! Answer true or false to this statement: Your organization might consider partnering with a local community foundation so you can have en endowment fund. All community foundations share these features: - They are public charitable organizations - They hold permanent endowment funds

35. Time for a POP Quiz! Answer true or false to this statement: Your organization might consider partnering with a local community foundation so you can have en endowment fund. All community foundations share these features: - They are public charitable organizations - They hold permanent endowment funds - They support community organization within a defined geographic area

36. Time for a POP Quiz! Answer true or false to this statement: Your organization might consider partnering with a local community foundation so you can have en endowment fund. All community foundations share these features: - They are public charitable organizations - They hold permanent endowment funds - They support community organization within a defined geographic area - Can legally hold endowment funds for other registered charities

37. CAGP defines PG ....

38. CAGP defines PG .... Gift planning is the donor-centered process of planning charitable gifts, whether current or future gifts, that meets philanthropic goals and balances personal, family, and tax considerations.

39. The cause 1% 2% 20% 77% Your personal values 2% 4% 29% 65% The charitable organization 2% 5% 26% 67% Tax savings 7% 16% 47% 29% The timing of the charitable request 16% 29% 41% 14% Personal control or advisory role in use of donation 26% 33% 28% 14% Personal/family legacy for the future 31% 32% 22% 15% Long-term giving through a private foundation 41% 40% 15% 4% Public recognition 60% 29% 9% 2% 0% 38% 75% 113% 150% Not at all important Not too important Somewhat important Very important The timing of the charitable request Personal control over, or an advisory role in the use of the donation Personal/family legacy for the future Long-term giving through a private foundation Public recognition Source: Scotia Private Client Group survey, June 2006.

40. We’re getting old

41. We’re getting old Statistics Canada’s calculations:

42. We’re getting old Statistics Canada’s calculations: - The number of people over the age of 65 went from 2.4 million in 1981 to 4.2 million in 2005

43. We’re getting old Statistics Canada’s calculations: - The number of people over the age of 65 went from 2.4 million in 1981 to 4.2 million in 2005 - Estimated to increase to 9.8 million in 2026

44. We’re getting old Statistics Canada’s calculations: - The number of people over the age of 65 went from 2.4 million in 1981 to 4.2 million in 2005 - Estimated to increase to 9.8 million in 2026 = colossal wealth transfer

45. Planned giving vehicles

46. Planned giving vehicles Bequests:

47. Planned giving vehicles Bequests: ✓ Specific

48. Planned giving vehicles Bequests: ✓ Specific ✓ Residual

49. Planned giving vehicles Bequests: ✓ Specific ✓ Residual ✓ Contingent

51. Planned giving vehicles Life insurance:

52. Planned giving vehicles Life insurance: ✓ Transfer of ownership

53. Planned giving vehicles Life insurance: ✓ Transfer of ownership ✓ Existing policy - premiums owing

54. Planned giving vehicles Life insurance: ✓ Transfer of ownership ✓ Existing policy - premiums owing ✓ Donation of a new policy, see this example ...

55. Life insurance example • Female donor, non-smoker, aged 32 years old • Purchases a life insurance policy and transfers ownership to the organization • Premiums are of $420 per year for 10 years • The organization will receive death benefit of $25,000 • Net cost of this gift, after tax savings = $2,470 Gift to the organization as owner and beneficiary (death benefit of the policy) $25,000 Annual premium payment (payable over 10 years) $420 Charitable tax receipt $420 Annual tax savings (tax credit of 48%) $173 Net cost of annual premium (after tax savings) $247 True cost of gift ($ 247 X 10 years) $2,470

57. Planned giving vehicles Life insurance:

58. Planned giving vehicles Life insurance: ✓ Transfer of ownership

59. Planned giving vehicles Life insurance: ✓ Transfer of ownership ✓ Existing policy - premiums owing

60. Planned giving vehicles Life insurance: ✓ Transfer of ownership ✓ Existing policy - premiums owing ✓ Donation of a new policy

61. Planned giving vehicles Life insurance: ✓ Transfer of ownership ✓ Existing policy - premiums owing ✓ Donation of a new policy ✓ Charity primary beneficiary

62. Planned giving vehicles Life insurance: ✓ Transfer of ownership ✓ Existing policy - premiums owing ✓ Donation of a new policy ✓ Charity primary beneficiary ✓ Charity co-beneficiary

63. Planned giving vehicles Life insurance: ✓ Transfer of ownership ✓ Existing policy - premiums owing ✓ Donation of a new policy ✓ Charity primary beneficiary ✓ Charity co-beneficiary ✓ Charity is contingent beneficiary

64. Securities Gift of cash Gift of proceeds securities Fair market value of stocks $10,000 $10,000 Cost of stocks $1,000 $1,000 Capital gain $9,000 $9,000 Taxable capital gain (based on a 50% tax $4,500 $0 rate) Charitable tax receipt for the donation $10,000 $10,000 Income tax credit for the donation $5,000 $5,000 Maximum tax on the capital gain ($4,500 x 50%) = $0 $2,250 Net financial advantage of the gift ($5,000 - $2,250) = $5,000 $2,750

65. Other planned giving vehicles

66. Other planned giving vehicles ✓ Charitable gift annuities

67. Other planned giving vehicles ✓ Charitable gift annuities ✓ Charitable remainder trusts

68. Other planned giving vehicles ✓ Charitable gift annuities ✓ Charitable remainder trusts ✓ Life insurance groups

69. Other planned giving vehicles ✓ Charitable gift annuities ✓ Charitable remainder trusts ✓ Life insurance groups ✓ Ecological gifts

70. Other planned giving vehicles ✓ Charitable gift annuities ✓ Charitable remainder trusts ✓ Life insurance groups ✓ Ecological gifts ✓ Interest-free loans

71. Other planned giving vehicles ✓ Charitable gift annuities ✓ Charitable remainder trusts ✓ Life insurance groups ✓ Ecological gifts ✓ Interest-free loans ✓ Strip bonds

72. Other planned giving vehicles ✓ Charitable gift annuities ✓ Charitable remainder trusts ✓ Life insurance groups ✓ Ecological gifts ✓ Interest-free loans ✓ Strip bonds ✓ Residual Interest

73. Other planned giving vehicles ✓ Charitable gift annuities ✓ Charitable remainder trusts ✓ Life insurance groups ✓ Ecological gifts ✓ Interest-free loans ✓ Strip bonds ✓ Residual Interest ✓ RRSP & RRIF

74. Getting started ...

75. Getting started ... A. Who receives planned gifts?

76. Getting started ... A. Who receives planned gifts? B. Should every charity set up a planned giving programs?

77. Getting started ... A. Who receives planned gifts? B. Should every charity set up a planned giving programs? C. When’s it time to start?

78. Getting started ... A. Who receives planned gifts? B. Should every charity set up a planned giving programs? C. When’s it time to start? D. Planned giving vs Endowment program?

79. Getting started ... A. Who receives planned gifts? B. Should every charity set up a planned giving programs? C. When’s it time to start? D. Planned giving vs Endowment program? E. We’re ready, what do we do?

80. Getting started ... A. Who receives planned gifts? B. Should every charity set up a planned giving programs? C. When’s it time to start? D. Planned giving vs Endowment program? E. We’re ready, what do we do? F. Who’s on the planned giving committee?

81. Getting started ... A. Who receives planned gifts? B. Should every charity set up a planned giving programs? C. When’s it time to start? D. Planned giving vs Endowment program? E. We’re ready, what do we do? F. Who’s on the planned giving committee? G. How will the program be staffed?

82. Getting started ...

83. Getting started ... H. We don’t meet the criteria, what do we do?

84. Getting started ... H. We don’t meet the criteria, what do we do? I. How will it be funded?

85. Getting started ... H. We don’t meet the criteria, what do we do? I. How will it be funded? J. How do we count & recognize the gifts?

86. Getting started ... H. We don’t meet the criteria, what do we do? I. How will it be funded? J. How do we count & recognize the gifts? K. How a consultant can help.

87. Who are the prospects?

88. Who are the prospects? ➡ Donors who have contributed for many years

89. Who are the prospects? ➡ Donors who have contributed for many years ➡ Meet with them to introduce them to planned giving concepts

90. Who are the prospects? ➡ Donors who have contributed for many years ➡ Meet with them to introduce them to planned giving concepts ➡ Work with 1 or 2 volunteers

91. Who are the prospects? ➡ Donors who have contributed for many years ➡ Meet with them to introduce them to planned giving concepts ➡ Work with 1 or 2 volunteers ➡ Get all board members to make a planned gift & encourage them to approach their network

92. Who are the prospects? ➡ Donors who have contributed for many years ➡ Meet with them to introduce them to planned giving concepts ➡ Work with 1 or 2 volunteers ➡ Get all board members to make a planned gift & encourage them to approach their network ➡ Establish a planned giving society

93. Marketing is key

94. Marketing is key ✓ Continuity

95. Marketing is key ✓ Continuity ✓ Consistency

96. Marketing is key ✓ Continuity ✓ Consistency ✓ Repetition

97. Marketing is key ✓ Continuity ✓ Consistency ✓ Repetition ✓ Cumulative effect

98. 10 Commandments of PG marketing

99. 10 Commandments of PG marketing By Phyllis Freedman : http://www.smart- giving.com/

100. 10 Commandments of PG marketing By Phyllis Freedman : http://www.smart- giving.com/ I: Thou shall rethink what 60, 70, 80 even 90 look like.

101. 10 Commandments of PG marketing By Phyllis Freedman : http://www.smart- giving.com/ I: Thou shall rethink what 60, 70, 80 even 90 look like. II: Thou shall use a serif font and large point size font.

102. 10 Commandments of PG marketing By Phyllis Freedman : http://www.smart- giving.com/ I: Thou shall rethink what 60, 70, 80 even 90 look like. II: Thou shall use a serif font and large point size font. III: Thou shall not reverse white type out of color.

103. 10 Commandments of PG marketing By Phyllis Freedman : http://www.smart- giving.com/ I: Thou shall rethink what 60, 70, 80 even 90 look like. II: Thou shall use a serif font and large point size font. III: Thou shall not reverse white type out of color. IV: Thou shall speak plain English, omit the technical.

104. 10 Commandments of PG marketing By Phyllis Freedman : http://www.smart- giving.com/ I: Thou shall rethink what 60, 70, 80 even 90 look like. II: Thou shall use a serif font and large point size font. III: Thou shall not reverse white type out of color. IV: Thou shall speak plain English, omit the technical. V: Thou shall design for “skimmers”.

105. 10 Commandments of PG marketing By Phyllis Freedman : http://www.smart- giving.com/ I: Thou shall rethink what 60, 70, 80 even 90 look like. II: Thou shall use a serif font and large point size font. III: Thou shall not reverse white type out of color. IV: Thou shall speak plain English, omit the technical. V: Thou shall design for “skimmers”. VI: Thou shall address unspoken donor objection.

106. 10 Commandments of PG marketing

107. 10 Commandments of PG marketing VII: Thou shall always include suggested language.

108. 10 Commandments of PG marketing VII: Thou shall always include suggested language. VIII: Thou shall make the materials your own.

109. 10 Commandments of PG marketing VII: Thou shall always include suggested language. VIII: Thou shall make the materials your own. IX: Thou shall use testimonials.

110. 10 Commandments of PG marketing VII: Thou shall always include suggested language. VIII: Thou shall make the materials your own. IX: Thou shall use testimonials. X: Thou shall always incorporate a call to action.

111. 10 Commandments of PG marketing VII: Thou shall always include suggested language. VIII: Thou shall make the materials your own. IX: Thou shall use testimonials. X: Thou shall always incorporate a call to action. Plus 3 extras ...

112. 10 Commandments of PG marketing VII: Thou shall always include suggested language. VIII: Thou shall make the materials your own. IX: Thou shall use testimonials. X: Thou shall always incorporate a call to action. Plus 3 extras ... XI: You shall always be real in communications with donors.

113. 10 Commandments of PG marketing VII: Thou shall always include suggested language. VIII: Thou shall make the materials your own. IX: Thou shall use testimonials. X: Thou shall always incorporate a call to action. Plus 3 extras ... XI: You shall always be real in communications with donors. XII: “Remember XYZ in your will” on all XYZ newsletter mailings.

114. 10 Commandments of PG marketing VII: Thou shall always include suggested language. VIII: Thou shall make the materials your own. IX: Thou shall use testimonials. X: Thou shall always incorporate a call to action. Plus 3 extras ... XI: You shall always be real in communications with donors. XII: “Remember XYZ in your will” on all XYZ newsletter mailings. XIII: Thou shall show the face of your work.

115. To sum up ...

116. To sum up ... 1. Familiarize yourself with key planned giving terms

117. To sum up ... 1. Familiarize yourself with key planned giving terms 2. Surround yourself with knowledgeable people

118. To sum up ... 1. Familiarize yourself with key planned giving terms 2. Surround yourself with knowledgeable people 3. Take it one step at a time (policies, etc.)

119. To sum up ... 1. Familiarize yourself with key planned giving terms 2. Surround yourself with knowledgeable people 3. Take it one step at a time (policies, etc.) 4. Find 1 “champion” on your board

120. To sum up ... 1. Familiarize yourself with key planned giving terms 2. Surround yourself with knowledgeable people 3. Take it one step at a time (policies, etc.) 4. Find 1 “champion” on your board 5. Learn from other pros

121. To sum up ... 1. Familiarize yourself with key planned giving terms 2. Surround yourself with knowledgeable people 3. Take it one step at a time (policies, etc.) 4. Find 1 “champion” on your board 5. Learn from other pros 6. Market your program

122. To sum up ... 1. Familiarize yourself with key planned giving terms 2. Surround yourself with knowledgeable people 3. Take it one step at a time (policies, etc.) 4. Find 1 “champion” on your board 5. Learn from other pros 6. Market your program 7. Talk to donors, again & again & again

123. Thank you and good luck! Ligia Peña Fundraising Coach ligia@diversa.ca www.diversa.ca @lpdiversa

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