1. Over the next several years it is estimated $12 trillion will pass from the greatest generation to the boomer generation. Each year 20,000 estates worth over $20 million are transferred.
2. Organizations that receive a significant number of estate gifts are those who ask for estate gifts. Large organizations like universities have entire departments devoted to these efforts.
3. If you are not asking your donors for planned gifts, rest assured, someone is.
4. Organizations can perform a valuable function for donors. Many people can benefit from the assistance and education the non-profit can offer. A simple example is reminding donors that one of the most effective ways to give from an estate is to donate IRA’s. Unlike other assets in an estate, proceeds from IRA’s are taxable to the beneficiary. A non-profit, however, does not pay tax on the gift.
5. People like to give to institutions that are making a difference in their communities.
6. People want to make a difference with their giving. While they have concerns about supporting family members with estate gifts, many realize they can make an outsized impact through bequests to non-profits as well.
7. A significant number of people are eager to make a planned gift but simply do not know how. Many would give a “child’s portion” to good works if they were asked.
8. According to many statistics, a typical planned gift is 200 to 300 times the size of a donor’s largest annual gift.
9. Those who put forth even minimal efforts in planned giving eventually receive 50% to 100% more than those who don’t.
10. Anyone can make a planned gift. This is not someone only wealthy people do.