Contrary to common perception, planned gifts are not the sole province of wealthy old folks. In fact, research shows that loyalty to a cause, rather than age and capacity, is the best predictor of a planned gift from a donor. Recent giving trends show that only 6% of planned gift donors in the United States are wealth-ranked. This means only 6% of planned gifts come from people who are considered “wealthy.”
Instead, donors of the large majority of estate gifts are people of modest means who made modest – yet consistent – gifts to specific charities during their lifetime. This is very good news for historic sites, many of which are supported by a cadre of dedicated and long-serving volunteers who make modest gifts over a long period of time.
Unfortunately, many sites directors and development directors are reluctant to raise the possibility of a planned gift with their volunteers. They claim to “know them too well” or “know too much” about their modest financial circumstances or familial obligations and are reluctant to broach the subject. They assume that their (few) wealthy donors are their best planned giving prospects and they live with the slim and thwarted hope that these few donors will remember the site in their wills.
Because the most promising planned giving prospects are the individuals who are the most loyal to a cause, and not simply those with the greatest personal wealth, the task at hand here is to provide the planned giving tools and opportunities to the modest donors and volunteers who have been constant supporters of National Trust historic sites. This can be done through a few low-tech activities that can be easily incorporated into the day-to-day life and business activities of a historic site:
- Include an article that relates to planned giving in every edition of your newsletter. Mix up the kinds of article you run. One edition may include a profile of a donor (living or deceased) who made a planned gift to your site; another might simply describe various planned giving options.
- Include a PS or buck slip enclosure in all (or most) correspondence with donors that simply asks them to “Please remember [your site] when you are making your estate plans.” The buck slip could include a tear-off coupon which they could return in order to be contacted to discuss an estate gift.
- Add a reference to planned gifts to your standard e-mail signature.
- On appeal letter reply devices, add a check-off option for the donor to request information on estate gifts to your site.
- Always have boilerplate language available, in case a donor asks how they can include your site in their will.
- When your site does receive a bequest, make sure you publicly celebrate the gift regardless of size.
