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Planned Giving Archives - Steier Group

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…

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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…

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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,…

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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…

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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…

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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…

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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…

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IRA Charitable Rollover – what you need to know

By Steier Tips

The IRA Charitable Rollover, a popular charitable giving tool for donors age 70½ and older, is available from now until the end of the year. On December 16, Congress passed legislation that included the IRA Charitable Rollover and the president is expected to sign it soon. However, this opportunity is only available through December 31, 2014. Donors age 70½ and older may transfer up to $100,000 from their IRA to a qualified public charity. The transfer is free of federal income tax and the gift qualifies for the donor’s 2014 required minimum distribution (RMD). Unfortunately, time is short to take…

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A few ideas for year-end planned gifts

By Steier Tips

It’s time. As we enter the homestretch of the year, charitable organizations are turning their focus to year-end giving strategies. Often overlooked during this time are opportunities to present specific (sometimes creative) charitable gift planning ideas. Your donors are making plans to review their estates with accountants, attorneys and financial advisors – now is the season to educate them and present opportunities for gifts in wills, charitable trusts, life insurance policies or other deferred giving methods. Here are some ideas to enhance the marketing of planned gifts as the year comes to a close: Send a Thanksgiving Day note of…

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Three questions to ask when donors remember you in their will

By Steier Tips

When you learn your organization has been named in a donor’s will it can be a very exciting, but sometimes confusing, time. The planned gift may be from a faithful donor who is well known to you and your organization. But sometimes it’s from a donor who has no apparent connection to your organization, and you have no record of them in your database. In either case, you should ask three important questions after learning that someone has remembered your organization in his/her will: “Who is the personal representative?”: The personal representative (or executor) is the person named in the…

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