Designing a Planned Giving Program Presented by: Pamela A. Gray Director of Development, Gift Planning Rice University

The Role of Planned Giving The Quest for the Ultimate Gift…

Why a Program? Intergenerational Wealth Transfer Individual Giving Over the next 30 years $30 trillion will be passed from baby boomers to Generation X (July 2015, Investment News) Individual Giving Future Financial Stability Donors like them!

Wealth Transfer Over the next 30 years $30 trillion will be passed from baby boomers to Generation X (July 2015, Investment News) Or, Boston University projects that by the year 2052, a minimum of $41 trillion will transfer between generations. Of this, A minimum of $5-9 trillion will pass to charity.

Wealth Transfer 2014 contributions: $358.38 billion by source (in billions of dollars – all figures are rounded) From Giving USA

Financial Stability Charities with Planned Giving Programs report a cost of 5 cents to raise a $1.00 Planned gifts are typically large gifts - Average bequest in the United States is approximately $35,000 Bequests are most often a surprise--investing these funds into an endowment, for example, can offset yearly expenses far into the future

Donors Like Them! Least costly way to give Future commitment Flexibility and control Larger gift potential Anonymity Stewardship Leads to other giving

Personal Solicitation Donor Pyramid Legacy  Involvement Commitment Support Interest Awareness Donor Development Planned Giving  Personal Solicitation Upgrading Renewals First Gift Donor Acquisition Direct Mail Legacy Major Gifts Middle Donors Renewals First Gifts Universe of Prospects

The questions? Is your organization ready? Is leadership supportive? Do you have an infrastructure? Who has the time? How will this be communicated to your donors?

Steps to Success Readiness assessment Identify volunteer leadership Build infrastructure Establish a Legacy Society Implement a marketing strategy/plan Build relationships and ask - Identify, Cultivate, Solicit and Steward your donors

Readiness Complete a Readiness Assessment Investments: Endowment? Donor data: Age and giving? Designated staff or staff time Volunteer engagement - Board giving Strong Annual Fund/Campaign

Leadership Management team Board of directors Champion Job description Task force/committee Liaison to the Board

Infrastructure Policies and Procedures Gift Acceptance Spending Recognition Crediting Counting Board resolution to establish the program and Legacy Society

Legacy Society Resolution is passed… Legacy Society Founding Member Drive Timeframe Target audience Board Staff Donors

Marketing Strategy Implement a Marketing Strategy/Plan Newsletter articles/ads Website / E-Communication "Legacy" Newsletter Letterhead tagline Targeted messages Birthday & Holiday cards Consistency is KEY

Relationships

Planned Gift Types Bequests from wills or living trusts Beneficiaries Bank Accounts Retirement Plans Life Insurance Policies Life Income Plans: Gift Annuities & Trusts Combinations of all of the above

The Role of Planned Giving The Quest for the Ultimate Gift…

Thank You! Contact Information: Pamela A. Gray Pgray@rice.edu 713-348-4630