The Last Gift
The last time for anything can be hard. Lasts are emotional and sometimes involve a lot of preparation and planning, while other times, they are a surprise, and we aren’t ready for them.
Lasts can be about anything and create cherished (or painful) memories. The last game you play on the high school football team. The last time you watch your kids perform in their last recital. The last time you drive your favourite car before you sell it. The last day of school or work. The last time you saw a loved one before they passed. The last time can be really great or really hard.
When we know it’s coming and expect it, last times are almost always surrounded by emotion and often involve a celebration or commemoration. It’s no different for a legacy gift. These gifts are usually accompanied by a lot of emotion and intention, and they hold a lot of meaning to their donors. So, you must treat this last gift as distinct and different from other gifts your donors may have given previously.
A legacy gift is the very last gift a donor will give your organization, and it is essential to understand it has significant meaning for them. Recognizing that, your role in guiding them through the process becomes even more crucial.
Therefore, it is imperative to ask your donors about their motivations and truly understand what this last (and likely greatest) gift means to them. This approach will help you stay aligned with the donor’s priorities and guide future discussions and planning.
Is it a chance to honour a family member? Themselves? What are their intentions for this gift? What do they want it to do?
These gifts often come with specific restrictions and designations for the charity. It’s crucial to ensure that your charity can meet these restrictions and that you and your donor can reach a mutual agreement on the terms of the gift.
Promoting a Legacy Giving program doesn’t have to be complicated. It can be simple if you keep it simple. You don’t have to be an expert in all the Legacy Giving options. Most people (80%) leave a bequest in their will. So even if you start there, you’ll still appeal to most of your constituency. You can download the Ten Tips to a Simple Legacy Giving Program here.
Conclusion
The most important thing about legacy giving is recognizing the importance and meaning behind the gift and understanding your donor’s intentions. A legacy gift is not made without intention and emotion. So, you must be willing to meet your donors there and help them achieve this one last act of kindness and generosity.
Schedule a call today, and let’s see how I can help you choose the right strategy for success!
Michelle has over 20 years of experience in fundraising and non-profit development, both as a consultant and as part of an executive team. With a Master of Arts degree in Philanthropy & Development from Saint Mary’s University in Minnesota, Michelle has theoretical and practical fundraising experience. As an author, consultant and public speaker specializing in faith-based fundraising, Michelle is driven by a passion to help large and small organizations like yours achieve their fundraising and strategic goals.
