“Til Death do us Part:” The Lifetime Commitment of a Planned GiftWhen a donor makes a planned gift, it is a lifetime commitment. Stewarding the donor and negotiating the terms of the gift might have seemed like the hard work of planned giving, but that’s like saying that planning a wedding is the hardest part of being married. The trick to a successful planned giving program, like marriage, is to honor the commitments you’ve made or those that have been made before you. For the average development officer, the lifespan of his or her job is less than five years. From a career perspective, that might be manageable. From a donor’s perspective, it can be unnerving. At John Brown Limited, we manage the disturbing reality of rotating development officers by building donor relationships with volunteers and senior administrators. Donor relationships must include a member of the development staff, but they thrive most effectively when the donor also has a colleague to turn to when they want to talk about their gift, their experience with the charity or even you. Legacy SocietiesOne way to help your planned giving donors interact with leadership volunteers or staff is to get your donors involved in a legacy society. Holding one or two events a year that allow your legacy members to connect, while honoring those that have made a transformative difference in your organization, holds up your charity’s level of commitment for all current and potential planned giving donors to see. We’ve said it before, but it’s worth repeating. Name your legacy society for an individual. We are all interested in knowing what other people are doing with their lifetime commitments. Naming your legacy society for an individual humanizes the group, plus helps them to understand what their commitment meant to your organization. Thanks for the memoryLifetime commitment also means keeping your records straight. Naturally, we’d expect that donor checks and 1099’s for tax purposes are available promptly and without question. If your organization has received criticism for its customer service, fix it immediately. No amount of stewardship makes up for a reputation of unprofessional business practices. The “notes” field in donor databases is a critical component of that process. Too often, these fields are ignored after donor visits. Many of us “keep that information in our heads.” We’re dealing with our donors’ life savings. Write it down. Maintain your commitmentIf you are leaving an organization, remember your commitments. Too often, development officers who had been very important in the lives of their donors leave their jobs and a new person comes in to fill the void. As a professional, get the last bit of information in your head into the database. If possible, make a joint visit with your replacement and introduce them to your donor. If it’s not possible to visit all your donors, send a thank you note for their time and an explanation about who can take care of them. At John Brown Limited, we understand that the very personal lifetime commitment of a planned gift is managed by professionals who will move on from their jobs. Help your organization manage your commitments. Call us today.
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August 2006
June 2008:Archived Newsletters |
