If you’ve been around ten years or more, and have demonstrated you have staying power, it’s time to start thinking about promoting legacy giving. And not just a little. A lot.
Even during a pandemic. Why?
Because once you have a steady stream of legacy gifts maturing, you’ve secured your nonprofit’s future — in good times and bad. Not 100% of course. You’ll still need to continue with annual fundraising. But you’ll be confident in the knowledge that every year or so unanticipated income will flow into your nonprofit’s coffers, like a windfall from heaven. In fact, after a while you’ll even be able to conservatively budget for a certain amount of bequest income (based on your averages) each year.
Legacy gifts can be quite transformative for the financial trajectory of your nonprofit. Think about this for a minute. While not every bequest will be six or seven figures, it’s rare to see a two or three figure bequest. They’re all major gifts!
Except… legacy gifts won’t usually fall from the sky unless you seed the clouds.
So let’s take a look at how to do that.Details