Planet Philanthropy 2016

Transcription

1 A Comprehensive Planned Giving Program By: Richard H. Johnson, J.D., CFRE Gi8 Planning Counselor VNA & Hospice FoundaCon Vero Beach, FL Planet Philanthropy 2016 Caribe Royale Hotel & Conference Center Orlando, Florida Monday, May 23, :30am to 10:45am

2 PG Advisory Commi<ee Composed of ATorneys, CPAs, Trust Officers & Financial Advisors (CLUs, CFPs & Investment Advisors) Help with PG policies and procedures Help with seminar and program planning Help recruit PG event sponsors In about 85% of the planned gi8s that your charity receives, you will be able to trace the gi8 planning to a local advisor

3 Planned Giving Officer Who should direct your PG program? A Volunteer A Consultant A Part-Cme staff person A Current employee to do PG part-cme A Full-Cme paid staff person

4 Establish a BEQUEST Program About 95% of all planned gi8s are bequests from wills or revocable trusts Add a tag line onto staconery, envelopes, publicacons, etc., i.e., Remember us in Your Will Some atorneys, who are close to your organizacon, may be willing to dra8 a simple will for your donors at litle or no charge for a bequest of $1,000 or more!

5 ProspecGng for Planned GiIs IdenCfy donors who give $1,000 or more on an annual basis For many years, this was the prospeccng strategy to I.D. PG Prospects Current strategy is to look more at donors who have given annually for 5, 10 or more years, regardless of the gi8 amount Combining both strategies seems to work well

6 GiI Acceptance Policies Purpose to provide policies and guidelines to govern the acceptance of gi8s by the charity Establish a Gi8 Acceptance CommiTee of board members to review gi8s when called for by the policy guidelines Provide policy guidelines for donors and their advisors when making gi8s to your charity

7 Planned Giving SoIware To crunch the numbers and provide simplified, easy to understand planned giving illustracons to donors and their advisors Generally, illustracons tend to be about life income gi8s such as Charitable Gi8 AnnuiCes (CGAs) or Charitable Remainder Trusts (CRTs) And somecmes, Charitable Lead Trusts (CLTs) PG Calc and Crescendo are two leading vendors

8 Planned Giving Websites Visually engaging & designed to fit your needs Blended to work well with your main site Easy to navigate with gi8 diagrams that simplify content Streamlined without too much text InformaConal list of PG seminars & events, PG donor society, PG newsleter, PG Advisory CommiTee Member List, Gi8 Calculator, PG donor stories & tescmonials, PG e-brochures, etc.

9 PG Newsle<ers & Brochures Important to inform, educate and mocvate your donors about planned gi8s Use of a periodic newsleter by your charity about PG seminars, events, donor stories & tescmonials, benefits of various PG vehicles Prepare your newsleter in-house or purchase a PG newsleter from a vendor & customize it Deliver brochures by mail or by

10 Periodic PG Mailings Ex. Postcards re: Charitable IRA Rollover, Year-End Giving, CGA Plan, Life Insurance Plan, etc. Send info by mail, or both Always include a response request for more informacon or a personalized illustracon

11 Donor Calls & Contacts Personal visits to meet, get to know, build personal relaconships & ulcmately, ask for the gi8 Same approach for Major Gi8s & Planned Gi8s When response for a Major Gi8 ask is No, there may be an opportunity for a Planned Gi8 SomeCmes, a Major Gi8 ask can result in part-major Gi8 and part-planned Gi8 or a COMBINATION GIFT

12 Donor RecogniGon SocieGes Important to thank, recognize and inform all donors, parccularly those who have made major and planned gi8s generally the largest gi8s a charity receives Determine how the donor qualifies for your donor society Hold an annual or bi-annual thank you event Ask permission to list them in your Society Some will want to remain be Anonymous

13 Planned Giving Training Courses There are a number of companies that offer PG Training Courses / They range from 1 day, 2 or 3 days to 5 days Some of the leading companies include, R & R Newkirk, Stelter, The Sharpe Group, Pentera, etc. For a comprehensive Planned Giving Training Course, the 5-day Course is Recommended

14 Legal Counsel Avoid the Unauthorized PracCce of Law or Providing Tax, Legal or Financial Advice Always add a Disclaimer to all Gi8 IllustraCons stacng the illustracon is for educaconal purposes only and to seek advise from their own advisor Vendors who provide PG newsleters, PG websites and PG so8ware o8en allow the charity access to their in-house legal counsel without charge

15 CGA (Charitable Gi8 Annuity) Program Register with Florida Office of Insurance RegulaCon Use ACGA (American Council on Gi8 AnnuiCes) rates Need Gi8 Annuity AdministraCon & Investment Management Need PG so8ware to provide donors & advisors with illustracons, disclosure statements & agreements Policies on: minimum age; minimum amount of inical gi8 & subsequent gi8s; & acceptable assets Policies on: Immediate, Deferred & Flexible CGAs

16 Life Insurance Programs Charity should select an insurance company and local agency that they are comfortable with Generally, policies where donors pay premiums for 5 or 6 years; the policy is paid-up and the policy s cash value, including dividends, then carries the policy with no more premiums due Policies used for couples are generally 2 nd to Die Policies which greatly reduces the premium Recommended that the charity make the donor contacts and control access to its donor database

17 Q & A