David Sharken Mentor & Legacy Program Director JCamp 180
[email protected] Camp Legacy Program
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A) Grab Tab Click red arrow to open/close Control Panel. Click
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audio format. Click Audio Setup to verify Speakers &
Microphone. C) Questions Pane Attendees can submit questions and
review answers. D) Type your question and click Send to submit it
to the organizer. Getting Involved A B B C C D D
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Overview of the Legacy Program Key Steps in the Legacy Action
Plan: o Case Statement o Identifying Prospects o In-reach/Marketing
o Conversations o Management o Brief Overview of Financial Vehicles
o Stewardship Common Myths Tonights Agenda
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High quality, results-oriented Training, consulting, coaching
Simple legacy action plan Note: We will use the terms Legacy &
Planned Giving interchangeably. Legacy Program Overview
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Legacy giving is a deliberate, planned, formal action by a
donor to share a portion of their assets with a charity. Often, but
not always, the gift is provided for after the donors lifetime.
What is Legacy / Planned Giving?
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Transfer of wealth is underway If only asked Thank donors while
they are alive Increased annual giving Securing our future Why
Now?
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50 Participating camps: o Nearly 3,100 Letters of Intent o
Estimated Value of $78.9 Million o $1,652,184 Realized JCamp 180
Camp Legacy Program Results Since January 2008 (As of February
2013)
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Culture of giving has changed All ages & means are
participating Improved relationship-building skills Easy way to
solicit funds Lessons Learned from Camp Legacy
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Case Statement Identifying prospects In-reach/marketing
Conversations Management Brief Overview of Financial Vehicles
Stewardship Key Steps in the Legacy Action Plan
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The Case Statement o Why should anyone want to leave a bequest
or other planned gift? o What are the values your camp stands for?
o What is the value of your camp to the community? o What is the
impact of planned giving / endowment building on your camp? o What
are the top 3 benefits of planned giving for camp? Camps Legacy
Plan
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Identify Groups o Closest & most loyal donors/families o
Consistent givers over ten or more years o Past presidents &
board members o Staff o Volunteers o Seniors o Alumni Camps Legacy
Plan (continued)
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Marketing Plan o In-reach not out-reach o Identify target
markets o Identify best communications vehicles o Communicate
through multiple channels (online, print, at camp) Camps Legacy
Plan (continued)
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Implementing the Plan with Personal Contacts &
Conversations o Family histories & values o Preparing for
personal meetings o Personalized mailings o The Jewish conversation
Camps Legacy Plan (continued)
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Management Plan o Who is responsible for the plan? o To whom do
they report? o How are you going to measure success? o Who will
track gifts, document, & record? Camps Legacy Plan
(continued)
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Setting Goals o Years 1 & 2 Number of individual
conversations, small, & large group presentations o Year 3
Stewardship activities o Beyond Sustaining the effort Camps Legacy
Plan (continued)
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Provisions in wills (bequests) IRA & other retirement
beneficiaries Charitable Gift Annuities Charitable Remainder Trusts
Charitable Lead Trusts Appreciated Asset Gifts Life Insurance How
People Give
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Recognition & Stewardship o How are you going to publicly
recognize? o How will you communicate regularly? Camps Legacy Plan
(continued)
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Prospecting Education & cultivation Personal participation
Asking Thanking Responsibilities of Board/Camp Committee
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Myths About o what planned giving really is o organizational
barriers o who makes a good legacy prospect o personal / emotional
barriers to asking Note: We will first present the myths in black
followed by the truths in blue Debunking Myths
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Myth: Having legacy conversations means I have to talk about
death (I cannot emotionally handle that). Legacy conversations are
about mission & future vision.
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Myth: Soliciting legacy gifts is the same as raising money for
an endowment. Endowment campaigns have the goal of raising money
NOW Legacy gifts are NOW or LATER.
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Myth: We need money now & cannot possibly think about
legacy giving. You cant afford NOT to think about legacy
activities.
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Myth: All planned gifts are deferred gifts.
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Planned gifts could be given today, through vehicles such as
gift annuities.
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Myth: We just dont have the time to do planned giving. Youre
already spending time on donor relations Dont miss the
opportunity
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Myth: Planned giving hurts annual giving If people make a
legacy commitment, theyll stop giving annually because they think
they are off the hook. Legacy donors increase their annual
giving.
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Myth: We cant ask someone to join the legacy society AND ask
for a capital gift in the same year. Every donor is different.
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Myth: If there is no will, there is no planned gift. There are
other planned giving vehicles, such as retirement funds, life
insurance beneficiaries, etc.
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Myth: If a donor doesnt have an estate they cannot or will not
make a legacy gift. Everyone youre approaching has assets.
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Myth: Single people or people without heirs have no need for a
will, so theyre not going to want to talk about legacy. Donors
without heirs are often MORE willing to provide for their favorite
charity.
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Myth: Only seniors over 65 years old are planned giving
prospects. Young professionals have 401(k)s and 403(b)s, too.
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Myth: Asking for a legacy gift is like stealing someones
inheritance. There are usually plenty of funds or other assets
given to the heirs.
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Myth: The donor is just going to leave everything to their
kids, so there is no point in asking. The children of the donor
will object if the donor bequests something to an organization. The
donor wants to leave their estate to his/her kids to decide if they
want to support camp after s/he dies. Heirs are usually still well
taken care of.
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Myth: Planned giving is not appropriate for a young
organization. Even young organizations have a base of loyal
donors.
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Myth: The donor who only gives $50 a year and has never raised
her gift in all the years shes been giving obviously doesnt have
anything to give us in her will. Only wealthy people are planned
giving prospects. Planned giving is egalitarian. Annual $50 Donor
Leaves $1 Million Bequest!
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Myth: Just signing a letter of intent will not lead someone to
include us in their will.
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Donor stewardship is the key for the rest of their natural
life!
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Myth: A legacy letter of intent should be required of every
board member. Planned giving is a very personal decision.
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Myth: I dont have to make my own legacy gift because I am on
staff. Only ask of others what youve already done yourself.
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Myth: I need more technical training before I can even begin to
raise the topic of a major planned gift. I need to be a planned
giving expert to be involved in gift planning. I will suffer
eternal mortification if a prospect or donor asks me a tax or
financial planning question that I cant answer. I shouldnt start a
legacy program at my camp unless I know all of the legal nuances
about giving vehicles otherwise I could get our agency sued. Your
job is NOT to be an expert
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Myth: We cant launch a successful legacy program without an
experienced planned giving officer on our staff. Legacy lay leaders
need to be tax attorneys or financial advisors. We need to be
planned giving experts. Your job is passion.
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David Sharken Mentor & Legacy Program Director JCamp 180
[email protected] Camp Legacy Program