From Declaration of Intent

to Formalized Gift

Dena Morris Kaufman April, 2016

The Harold Grinspoon Foundation

“As my fathers planted for me,

so do I plant for future generations”

- Taanit 23a

Building Jewish Legacies

Across North America

Cohort 1 LIFE & LEGACY

Charlotte, NC

Memphis, TN

Miami, FL

New Haven, CT

Orange County, CA

Portland, OR

Princeton, NJ

Cohort 2 LIFE & LEGACY

Chicago, IL

Greater Metro West, NJ

Greater Washington, DC

Milwaukee, WI

Omaha, NE

Sacramento, CA

Southern NJ

LIFE & LEGACY: 28 Communities

(see below)

Areivim: St Louis, Tucson, San

Francisco, Philadelphia

Hillel: 13 Affiliates

Small Federated Communities:

Arkansas, Augusta, Chattanooga,

El Paso, Fort Worth, Peoria,

Springfield, South Bend

Cohort 3 LIFE & LEGACY

Cincinnati, OH

Delaware

East Bay, CA

Houston, TX

Indianapolis, IN

Phoenix, AZ

South Palm Beach, FL

Tampa, Orlando, Pinellas, FL

Cohort 4 LIFE & LEGACY

Central Pennsylvania, PA

Charleston, SC

Heart of New Jersey, NJ

Minneapolis, MN

Richmond, VA

Seattle, WA

January, 2016

LIFE & LEGACY

National Update

As of December 31, 2015

In 3 years

Had 7,634 legacy conversations

Made 1,420 group presentations

Secured 8,071 legacy commitments

Valued at an estimated $329 Million in future gifts

to the Jewish community!

Already realized $21 Million

South Palm Beach County

Update

As of March 31, 2016

Community Aggregate Goal by March 31, 2016 = 198

Total of 290 legacy commitments

Valued at an estimated: $ 29 Million in future gifts to

the Jewish Community

South Palm Beach County

Update

29

18

30

18

25 25 25

49

25 26

20

Signed Declarations of Intent

Year 1

Year 2

Jumpstart Year 2

What are you doing with your incentive grant?

Can your current donors help you get more donors?

How will you get and use testimonials?

Jumpstart Year 2

What are 3-4

Marketing ideas you

have that you can

enact in the

next 4 months?

1. What constitutes formalization?

2. Why formalize?

3. The role of stewardship in formalization

4. Formalization conversation

5. Written correspondence

6. Importance of tracking

7. Practice

What Constitutes

Formalization?

Formalization is the process by which the

donor makes the necessary arrangements

with their attorney, financial adviser, life insurance

company or retirement account manager to

ensure that the legacy gift will be received

by your organization after their passing.

What Constitutes

Gift Confirmation?

Legacy Gift Confirmationindicating a provision was made

Letterfrom attorney or financial adviser

Copy of relevant portion of Will or Trust

Copy of Beneficiary form

Why Important

to Ask

To ensure that a donor’s philanthropic wishes

will be realized.

To give heirs clarity about a donor’s wishes.

To increase your organizations chances of receiving the

committed funds.

Organization vs Federation

Roles

The role of your organization is to:

Follow up with legacy donors to encourage them to

formalize their intent

Steward donors throughout their lifetime.

The role of the JJCF is to:

Be a resource to both organizations and donors in

formalizing legacy commitments

Work in partnership with our donor’s professional

advisors

Foundation

as a Resource

JJCF is the investment arm of the Jewish

community:

Manage and oversee a large pool of funds that

will be invested conservatively to provide the best

rate of return possible

Make annual distributions according to donor’s

wishes

Interact with attorneys, financial advisors, CPA’s, and

finance professionals to advocate for donors and the

Jewish community

Foundation

as a Resource

Foundation staff is knowledgeable and will:

Meet with donors at no cost

Work with the donor to solidify

their philanthropic wishes

Educate donors on a variety of giving vehicles to

find the one that best fits their needs

Work with donor’s professional advisors

Formalization Process

Takes place when the time is right for the donor

Fine line between encouraging vs. harassing

Need to keep accurate records so we only approach donor

within the appropriate time frame

Must be donor-centric in our approach

Effective stewardship is key – ongoing, sincere, meaningful to

donor

Organization that got the gift originally will also work to

formalize the gift (notify others when accomplished)

Four Steps

Stewardship

Conversation with the donor

Letter asking donor to formalize the commitment

Encourage gently

Stewardship

Stewardship & Engagement

Stewardship & Engagement

1. Personal Conversation

2. Send Letter with Materials

3. Recordkeeping and Tracking

Effective Stewardship

• Strengthens relationships with donors

• Keeps donors engaged

• Makes them feel appreciated

• Ongoing process that must

continue over the donor’s

lifetime

Minimum of 4 Touches

•Reception before “community” gathering

•Shabbat Dinner

•Invitation to event not open to general community

•Legacy Shabbats

•Annual meetings – light candles

•Galas or other special events

•Newsletters or newspaper

•Website

•Poster, digital display or donor wall

•Annual report or programs

•Annual meeting or other gatherings

•Thank you note

•Phone call

•Cards – Birthday, Holiday, Anniversary of Legacy Commitment

•Personalized letter specifically for legacy donors

•Gifts

Personal Touch

Donor Listings/

Testimonials

Special gathering for

Legacy donors

Recognition at

“community” gatherings

Stewardship

Summary

Acknowledge all commitments

Recognize regularly

Keep connected using communication and engagement tools

Keep accurate records

Honor donor’s intent

Invest funds wisely

Use funds efficiently

Role of Stewardship

Continue to steward in ways that will encourage

formalization:

Public recognition – on wall, in print, at events

Personal stewardship – keep informed of your

organization’s activities and the impact you are having

on the community

Personalize Follow-up

• Review your list of donors

• Review the timing the donor has set for formalization

• Decide how best to encourage/ask for gift

confirmation for each donor

Best Stewardship

& Follow-up

Process

I intend to Create a Jewish Legacy and will formalize my gift within ___ months

Quarterly, after the designated time:

• Community will send letter

• Organization will follow-up two

weeks later with a personal

phone call or meeting

Community Letter

• Quarterly AFTER date that

the donor has noted,

beginning May 1

• Copy to each organization

• Organization to follow-up

with donor

Legacy Confirmation of Gift

Legacy Giving Options

Conversation

Thank the donor for signing the DOI form and being

part of your legacy initiative

Ask the donor if he/she has had an opportunity to

formalize his/her intent

Be prepared to answer no matter which response you

receive

Donor says “YES!”

Donor says “Not Yet”

Thank for signing DOI

Ask if anticipated time frame

and jot down

Ask if can be of

assistance

Reiterate importance

of formalization

Leave/Send Confirmation

form

Contact 2 weeks after anticipated

formalization time

Donor says “No”

Thank for signing DOI

Ask if can be of any assistance

Reiterate importance

of formalization

Ask if OK to check

back in 3, 6, 9 or 12 months

Make a note to

follow up at

appropriate time

Overcoming Objections

Objection Response

Don’t have a Will Life insurance, retirement accounts only

require a “change of beneficiary” form with

no cost. Fund Agreement also no cost

Not sure how to provide for organization Most common: % in Will, named beneficiary

of Life Insurance or Retirement Fund

Federation staff can meet and review

options

What if I need my money? Legacy gifts are after-lifetime so your

money is available for all of your needs

Changed my mind, no longer want to give Can you share with me why you have come

to this decision? (no matter the response,

be sure to thank for ongoing support)

I will get to it eventually Thank and remind of incentive grant and

deadline

Make it easy

Provide the donor with confirmation of formalization options

Legacy Gift Confirmationindicating a provision was made

Letterfrom attorney or financial adviser

Copy of relevant portion of Will or Trust

Copy of Beneficiary form

Suggested Mailing

Letter or note with Tax ID#

Legacy Confirmation of Gift

One-pager of giving vehicles

Reply envelope

Suggested Letter

Role Playing

Role Playing

Feedback

Legacy Team Member –

Was the ask easy or difficult

and why

Donor – Was the

conversation comfortable or

uncomfortable and why

Legacy Gift Tracking

• Create a file for each donor

• DOI form

• correspondence

• Stewardship Checklist

• Legacy Confirmation of Gift or other documentation that the gift

has been formalized

• Utilize an electronic tracking system to track the donor, when the

commitment was made, when you last spoke with them, when the gift was

formalized and when the gift is realized.

• If you have the ability to set up a reminder system, its great to be able to

send the donor a card or call them to thank them for their commitment on

the anniversary of receiving their Declaration of Intent.

Tips

Next Steps

Year 2 ends March 30, 2017 – Keep your momentum going!

Review your prospect list, potentially add to it and keep going!

Assign prospects to each member of your legacy team.

Each team member commits to having at a minimum one conversation a

month – every month!

Continue to schedule regular team meetings to check in and so each

member has a deadline for their monthly conversations – be accountable

to each other.

Take advantage of every opportunity to acknowledge your legacy donors

to date and to encourage new commitments.

Next Steps

Continue to fill out your quarterly reporting form as you

have conversations.

Continue your marketing to both targeted prospects and

general donor base – celebrate your receipt of the Year 1 grant

and encourage commitments to help you secure grant in Year 2.

Stewardship, Stewardship, Stewardship – minimum of

four touches a year – donor listings, legacy donor event,

legacy donor recognition, personal touch.

Work on formalization as you are able – new commitments

still the priority for Year 2

“As my fathers

planted for me,

so do I plant for

future generations”

- Taanit 23a

From Declaration of Intent

to Formalized Gift

Dena Morris Kaufman – April, 2016

The Harold Grinspoon Foundation