What Will Be Your Legacy?

Transcription

1 "I found a fruitful world, because my ancestors planted it for me. Likewise, I am planting for future generations." -Talmud, Ta anit 23a What Will Be Your Legacy? Dena Morris Kaufman April, 2017 Harold Grinspoon Foundation jewishlifelegacy.org

2 Agenda Who s in the room? What is LIFE & LEGACY? Success to date Why Now? Legacy Myths Marketing Stewardship Case Studies Q & A

3 LIFE & LEGACY is a 4 year partnership program of the Harold Grinspoon Foundation (HGF) that assists communities across North America, to promote afterlifetime giving to benefit local Jewish day schools, synagogues, social service organizations and other Jewish entities.

4 Through training, support and monetary incentives LIFE & LEGACY motivates Jewish organizations to secure legacy gifts and steward donors.

5 Benefits of Participating Training curriculum with a proven track record of success Marketing and Stewardship Best Practices Incentive Grants Professional Support Resource-oriented Website Community organizations work together to transform philanthropy in your community

6 Training Provided Year 1 How to Write a Legacy Plan The Legacy Conversation Marketing Your Legacy Program Effective Stewardship Year 2 From Letter of Intent to Formalized Gift Best Practices/The Integrated Ask Being Donor-Centric Year 3 and 4 based on individual community needs

7 LIFE & LEGACY Update As of December 31, 2016 In over 4 years, 36 communities, 391 Organizations Secured 12,553 legacy commitments Valued at an estimated $487.5 Million in future gifts to the Jewish community! Already realized $44 Million December, 2016

8 Senior Living Results As of December 31, 2016 in 4 years 14 Senior Homes participating Have secured 494 legacy commitments With an estimated value of more than $24.8M in future gifts Over $1M realized to date

9 Why Now? The $59 trillion transfer of wealth is underway If we don t ask we will miss an opportunity To maintain the vibrant Jewish community we all value To secure the future for the next generation We must be the change we wish to see in the world. Gandhi

10 Why Now? Endowments, in the past a luxury, are now an essential element of any non-profit s long-term financial stability strategy as a result of: Dramatic fluctuations in investment returns Lowest interest rates in decades Diminishing government grants Fewer financial resources and higher demands for services - Kathryn W. Miree & Associates, Inc.

11 Why Now? Philanthropic advisors state: If 20% of your operating budget is not coming from your endowment by 2025 then your organization will be in fiscal crisis so you need to begin building your endowment

12 What Motivates Legacy Giving? A commitment to being Jewish A desire to live up to the values instilled by parents and grandparents To give back To make a difference To be a part of something larger than ourselves To be recognized To feel united with others of similar commitment & values To commemorate loved ones To share their good fortune To support your organization and its mission because they value what you offer to the community

13 Legacy Giving Myths The Legacy Conversation is NOT about the donor s death. The Legacy Conversation is offering the donor an opportunity to do something significant during their lifetime.

14 Legacy Giving Myths Legacy gifts are ONLY endowments Yes endowments, now or later Also life insurance, retirement funds, bequests and other assets Legacy gifts = taking away inheritance Majority estate is left to family members Legacy commitments only a percentage of an estate No will = no legacy gift Portion of retirement funds, life insurance policies or other planned giving vehicles

15 Legacy Prospects Myths Only those over 65 are planned giving prospects A donor of any age can be a legacy donor Recent study found that year olds have the greatest number of bequests to Jewish causes IF they have a will Only wealthy people are prospects Legacy most egalitarian form of fundraising Best prospects - most loyal donors Donors are going to leave everything to their children Donors who have demonstrated a commitment to your organization are likely going to want to illustrate that relationship to their children by leaving a percentage of their estate to you

16 Need to get out of the mindset of the here and now and instead cultivate a culture of planning for the future.

17 Recommended Methodology Form a Legacy team Write a Case Statement Write a plan and decide on goals Identify the RIGHT prospects Have great conversations with prospects Market your program Steward your donors effectively

18 Marketing Use tagline EVERYWHERE Ads and articles Newsletter content Visuals including posters, banners, electronic Tent cards Website, social media, Keep your Board of Directors informed

19 Tagline Please remember (organization) with a gift in your will, trust, retirement account, or life insurance policy. Stationery, Envelopes, signature lines with link, Newsletters, blasts, Pop-up on tables, Front page on website EVERYWHERE

20 Ads You Can Use As: Newsletters Flyer at an event Pop-up ad (Lucite) On website On Social Media Table in your lobby As a poster As a Statement Stuffer

21 Send a Newsletter Consider for every issue: Legacy-related article Donor testimonial Display ad Information about who to contact Suggestion to visit website Clip & Mail form or Reply postcard

22 Stand Up Banner

23 Tent Cards

24 Websites Charles E Smith Jewish Day School, Rockville, MD Click button to make gift Listing of Donors Testimonials Clicks to learn more

25 Why Stewardship Strengthens your relationship with your legacy donors Keeps them engaged Makes them feel appreciated

26 Ideal Stewardship Efficient Back Office Financially Stable and Responsible Further Engage Donors Acknowledge and Recognize Donors

27 Stewardship Thank donors promptly (personal note and call) List donors Use ads that Steward your donors AND market your program Utilize donor stories and testimonials Report impact to donors Thank donors publically Invite to event Create a Legacy Society

28 Stewardship that is also Marketing

29 Sample Testimonial

30 Reporting to Donors

31 Public Thank You Thank and Recognize Legacy Donors I want to take a moment and thank our Legacy donors for their commitment to sustaining our future. These individuals and families, (optional: whose names are listed in the flyer), have named the (organization) in their will, trust, retirement account or life insurance policy as one way of expressing the role the (organization) plays in their life. We are very grateful.

32 Minimum of 4 Touches Thank you note Phone call Cards on Anniversary of Legacy Commitment/Holidays Meaningful gift Letter/Report sharing your impact Personal Touch including Impact Reporting Testimonials/ Donor Listings Newsletters or newspaper Website Poster, digital display or donor wall Annual report or programs Annual meeting or other gatherings Legacy Shabbats Annual meetings light candles Galas or other special events Recognition at community gatherings Special gathering for Legacy donors Reception before community gathering Shabbat Dinner Invitation to event not open to general community

33 Ultimate Goal Legacy Giving Integrated into your Philanthropic Culture

34 Why Now? So generous and forwardthinking members of your Jewish community have an opportunity to express their passion, purpose and commitment to the future of your organization and the Greater Jewish Community

35 Case Studies Memphis Jewish Home & Rehab, Memphis, TN Joel Y. Ashner, Director of Philanthropy and Community Engagement 90 year old organization 160 bed nursing home About 25-30% Jewish patients/residents Jewish population of Memphis is about 8,500 people Development/PR Department of 1 Golf Tournament, direct-mail, major gifts, Legacy and Endowment Capital Campaign beginning later this year Legacy Society established in 2008

36 Case Studies

37 Case Studies

38 Case Studies Heritage Point, Orange County, CA Beth Slavin, Director of Philanthropy 27 year old organization 200 bed facility (independent and assisted, 16 bed memory care) 95% Jewish residents Development/PR Department of 3 Legacy Society established in 2013

39 Case Studies

40 Case Studies Organizations of all sizes can implement a Legacy Giving program Heritage Point, Orange County, CA Beth Slavin, Director of Philanthropy Memphis Jewish Home & Rehab, Memphis, TN Joel Y. Ashner, Director of Philanthropy and Community Engagement

41 "I found a fruitful world, because my ancestors planted it for me. Likewise, I am planting for future generations." -Talmud, Ta anit 23a What Will Be Your Legacy? Dena Morris Kaufman April, 2017 Harold Grinspoon Foundation jewishlifelegacy.org