By Matt Vuorela / Chief Executive Officer of Steier Group Money is a topic that many shy away from talking about openly. Not at The Steier Group. Our experience tells us that discussing finances and goals with others helps carry forth personal values and legacy. For families, this means teaching the next generation how to steward what they have been given. For churches and nonprofit organizations, it means recognizing that tomorrow’s donors are being formed today. No matter the amount there is to pass down, equipping the next generation to plan and give thoughtfully helps fuel mission-driven work for years…
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By Matt Vuorela / Chief Executive Officer of Steier Group In today’s philanthropic landscape, donors and organizations alike are thinking more intentionally about the future. They want to do more than write a check – they want to create a lasting impact. That’s where legacy giving and planned giving come in. These two terms are often used interchangeably, yet they carry distinct meanings and implications for both donors and nonprofits. Understanding those definitions and differences can help you give more meaningfully, plan more strategically and ultimately make a greater difference. In this article, we’ll clarify what legacy giving and planned…
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By Viken Mikaelian / Founder of PlannedGiving.com and Philanthropy.org Harvard built a $50 billion endowment — without a single weekly worshipper. Yet your church has them. Every Sunday. So why aren’t we asking for gifts that don’t come from the wallet, but from the will? I recall when I approached my former church and talked to the pastor about mentioning legacy gifts before the sermon. His answer was, “We do not do things like that here.” My current church? Different story. The CFO gets up before every sermon, gives a 2-minute update about our financial health, and reminds us to consider legacy…
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You may have heard the buzz regarding a historic transfer of wealth that is happening in America right now. Over the next few decades, a staggering $30 trillion will be passed down from prosperous baby boomers to the next generation. Not only is this the largest wealth transfer of all time, but it is also creating one of the most significant opportunities for philanthropy in this age. What does this wealth transfer mean for nonprofits, exactly? And how can your organization capitalize on this incredible moment in history? It’s simple: Because more than $6.3 trillion of the wealth transfer is projected to…
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The Steier Group is proud to present our new podcast, Twelve Wicker Baskets with Christopher Beaudet. Subscribe now on your favorite podcast app. In the Gospel, Jesus fed 5,000 with only five loaves and two fish. After the crowd was satisfied, there were 12 wicker baskets left over. God provides the abundance. In each episode of this podcast, we will explore, with pastoral leaders and development professionals, all the many ways God meets the spiritual and temporal needs of our parish communities, our Catholic schools and the diocesan church. And not only meets those needs but provides in abundance. The…
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Most nonprofit organizations have a life span. The goal is to extend that life span and mission beyond immediate needs. This can be accomplished through strong yearly giving, productive capital campaigns and endowments. But those aren’t the only options. A focus on planned gifts can set an organization up for sustained success and a brighter future. Bequests, planned gifts and estate gifts can be used to build up your endowment. They may also be donated as restricted funds (like buildings and maintenance, scholarships, operations or specific programs) or unrestricted funds to be used at the discretion of the organization’s leadership.…
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When we met with Bob and Cecilia as part of their parish planning study, we asked them 12 questions. Question 10 was: “Have you considered St. Mary’s in your will?” They looked at each other and said, “we’ve thought about it, but we’ve never gotten around to it, can you help?” Yes, we can. With a phone call from a grateful pastor and a helpful diocesan employee in the development office, Bob and Cecilia completed their will bequeathing St. Mary’s their home, valued at $450,000. Would you be willing to spend a little time and money if it resulted in…
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The world of nonprofit fundraising is filled with assumptions and misconceptions, many of which are held and advanced by professionals within its own ranks. One such example is that foundations are made, maintained and funded by the uber-wealthy, leaving the rest of the population with only traditional gifting vehicles such as multi-year pledges, gifts of cash and stock transfers. This narrative is obviously a generalization. As proof, consider the recent offering by Schwab Charitable that allows prospective donors to open a Donor Advised Fund with a minimal contribution of $5,000. While this vehicle may allow John Doe to feel like…
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Fall offers the perfect chance to take a look at your nonprofit’s planned giving program. Strong annual giving, strategically-planned special events, and professionally-run capital campaigns are the bedrock of any fundraising program. But a strong planned giving program will have a lasting impact for any nonprofit. Does your organization have a legacy society? Have you taken stock of all the deferred gifts your donors have planned? Here are four ways to improve your planned giving program: Honor your donors: Whenever a volunteer, donor or member of your organization passes away and leaves a gift from his or her estate plan,…
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Strong planned giving is the hallmark of a high-functioning development program. While many organizations are able to meet their needs through annual fundraising and capital campaigns, planned giving is often the final element that allows a program to reach its full potential. Deferred gifts offer peace of mind to both the donor and the organization. They allow the organization to escape the hand-to-mouth budgeting cycle and plan for the long term. Is your planned giving program meeting its full potential? Here are four ways to boost the power of your deferred gifts: Catalog the planned gifts that already exist: If you…
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