Skip to main content
Tag

Planned giving best practices

Planned giving and the historic transfer of wealth

By Steier Tips

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…

Read More
Remembering the Church in your Planned Giving with Renée Underwood

Remembering the Church in Your Planned Giving with Renée Underwood

By podcast, Steier Tips

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…

Read More

Use planned giving to ensure long-term nonprofit sustainability

By Steier Tips

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….

Read More

Don’t ignore the benefits of planned giving

By Steier Tips

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…

Read More

What is a donor advised fund and how can it help your organization?

By Steier Tips

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…

Read More

Boost your planned giving program with these tips

By Steier Tips

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,…

Read More

Four ways to improve your planned giving program

By Steier Tips

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…

Read More

Five key steps to launching a planned giving program

By Steier Tips

According to the Center on Philanthropy, donors that make planned gifts also increase their current giving. Planned giving provides short- and long-term benefits to your organization. Starting a planned giving program is a vital step in securing a strong financial future for your organization. Here are five key steps to beginning your planned giving program: Educate your constituents: Between half and two-thirds of Americans do not have an estate plan in place. Encouraging your donors to sit down and map out a plan is good advice for any family and presents an opportunity for your organization to receive a planned…

Read More

A different IRA conversation

By Steier Tips

Donors may be asking if the popular IRA Charitable Rollover will become available before the end of the year. The short answer? We don’t know. For the foreseeable future, this is a question your donors may have to ask on an annual basis, and you are wise to have an answer ready for them. Donors age 70½ and older will spend the next two months waiting to see if Congress will pass legislation allowing for outright gifts from their IRAs. And every day that passes is an opportunity to have a different kind of IRA conversation. While focusing on the…

Read More

Boost your planned giving program with a legacy society

By Steier Tips

A legacy society is an effective planned giving program that thanks your current planned giving donors and creates a vehicle to cultivate and encourage new donors. A legacy society also allows you to deepen your relationship with existing donors, which could lead to new gifts or plant the seeds for larger gifts in the future. Before you introduce a legacy society, designate a special name that is meaningful to your organization. Considering naming the society after your founder or an important figure in your organization’s history. Once you have a name in place, it’s time to recruit members. Have the…

Read More