The term “planned giving” refers to the major gifts you plan now and give to charities or nonprofit organizations later. Most people set up their first charitable gifts when they’re in their 40s. According to The Fundraising Authority, but you can leave gifts in your will, set up a trust or annuity, or plan to gift appreciated assets at any time. Many organizations actively champion and promote planned giving because they receive four key benefits from your gift.
1. Receive A Steady Income Stream That Ensures The Work Continues
The biggest higher education fundraisers from 2005 to 2010 received 31 percent of their funds from planned giving, reports Donor Search. These funds support organizations’ financial footing, allowing them to budget future activities and even invest—rather than rely on a revolving door of current donations and income.
2. Maximize Donor Finances
Donor Search notes that eight of 10 planned giving donors regularly support the nonprofit organizations they name in their will. Though even if you can’t give a large gift while you’re alive, your estate can support an organization that’s important to you.
3. Encourage Donor Flexibility
In addition to cash, you may donate bank accounts, securities and stocks, real estate, life insurance, retirement plans and other personal property, or set up a trust or annuity that gives you an income while you support the organization of your choice.
4. Strengthen the Relationship—Protect the Values
Legacy donors are an important part of an organization’s future, their affect begins years before someone’s passing. Instead, organizations often increase their relationship with future legacy donors, involving them in long-term planning, so that the legacy donors know that their money is going where their heart is.
Are you ready to make a difference in someone else’s tomorrow? Decide which organizations to support,choose the specific gifts you want to donate, and more. And contact ILP+Arkansas at 800-827-7784 to turn planned giving into a meaningful reality.