show menu Earlier this year, I was invited to speak at the annual WIZO World Leadership Conference (WIZO – Women's International Zionist Organization). I was asked to talk about a topic of tremendous importance, yet one that makes many of us very uncomfortable --- Legacy Gifts.
As a professional fundraiser, I have had the privilege of working with many donors who decided to leave a portion or all of their estate to a charity. Many non-profits receive legacy gifts from donors who loyally supported the organization during their lifetime, while other organizations receive substantial legacy gifts from unexpected donors with no previous history of support. Bequests hold huge potential for non-profits – yet many lay-leaders and professional fundraisers feel uneasy about raising this delicate subject with donors.
The foundation of any successful fundraising operation is its donor cultivation processes, which ideally are aligned with the organization's overall strategy, and prioritize partnership and transparency. Successful legacy fundraisers develop strong trust-based relationships with their prospects. Organizations that build ongoing relationships with their donors are more likely to create a fundraising culture where their longstanding donors will voluntarily consider the organization when making their legacy gifts.
Establishing legacy programs requires a similar understanding of organizational culture. Legacy fundraising is more like a marathon race – not a 100-yard dash – and it requires organizations to build loyalty and transparency over the long term. Moreover, fundraising professionals need to work within a range of marketing and communication channels to promote different types of legacy gifts. However, if the theory is so simple, why are so many lay-leaders and professional fundraisers surprised when their organization is not included among the beneficiaries in their donors wills? The answer is simple: No one ever "made the ask"!!!
In legacy fundraising, like in other fundraising campaigns, the rules are clear. In order to receive a gift, you have to ask for it. Many fundraisers are wary of broaching the topic of death with loyal donors. Is it taboo to discuss our mortality? In my opinion, not at all. In fact, many donors view the psychological and emotional benefits of legacy gifts as an opportunity to "pay it forward" and continue to support causes that matter most to them.
In my WIZO presentation, we openly discussed fear of death. The professional term for death anxiety is “thanatophobia”, which may explain why so many people postpone preparing a will. Research shows most of us are not afraid of death, but of losing our dignity during the final journey. In that respect, making a will can mitigate death anxiety, because it allows us to a way of planning and controlling the future.
Preparing a will is part of life and preparing for the future. A will expresses an individual's wishes at a specific point in time, and can be amended, modified, or updated. Even after signing a will that bequeathed a gift to an organization, donors can change their minds at any time. Donor cultivation and donor stewardship are ongoing processes.
Many NGOs orient their legacy campaigns toward donors in their 70s, but I have had much success with a younger demographic (50s and 60s). Today an increasing number of young professionals are preparing their wills (with the understanding they it can be modified at any time). Organizations interested in legacy campaigns are advised to start the cultivation process early on, and to appeal to donors that leaving a legacy gift can be an impactful humanitarian gesture.
Creating sustainable legacy campaigns begins with developing mentoring and training processes for your volunteers and professional staff that are tailored to the needs of your organization. GlobalCan is expertly qualified to assist you and your organization in this field. You are very welcome to contact us or check out Our Services.
