Try These Planned Giving Strategies to Secure Crucial Long-term Support

Planned giving is a generous act — one that can be critical to the revenue generation and long-term health of a nonprofit. But planned gifts are also a big ask and should be handled with delicacy and tact.

The best way to earn planned gifts is to build deep, long-standing, and mutually beneficial relationships with your major supporters. By helping these individuals to understand the different giving options available to them, you may find that planned gift conversations naturally follow.

What is planned giving?

Planned gifts are donations that donors declare they will make to a nonprofit organization through their estate or financial planning at some point in the future. Many planned gift arrangements deliver the gift to the nonprofit when the donor passes away.

Planned giving is important for nonprofits because it allows organizations to factor the donations they’ll receive into their long-term budgets and initiative planning. These arrangements are among the most effective ways that nonprofits can guarantee the longevity of their programs and services.

What makes planned giving strategies different from other fundraising strategies?

A planned gift is a more substantial contribution than you’d likely ask for during typical fundraising conversations. By highlighting planned giving options, you’re asking supporters to make their relationship with your nonprofit a central element of their life story.

That’s not something you can ask for lightly, even if the donor in question is one of your biggest supporters. But when the time is right, requesting a planned gift can benefit your nonprofit in both the short and long term. Research published in the UC Davis Law Review in 2020 found that, from 1993 – 2016, inflation-adjusted annual giving was 77% greater on average after a person added a charitable component to their estate plan.

The paper’s author, Russell N. James, speculates that this increase may occur because adding a nonprofit to an estate plan makes the organization feel “like a family member,” strengthening the donor’s emotional connection and desire to give. James also suggests that choosing the nonprofit their money will go to may make some donors eager to personally witness the impact of their gift.

Planned giving strategies for your nonprofit

The fundraisers who are most successful at securing planned gifts for their organizations tend to model a two-step approach. First, they identify and start conversations with their nonprofit’s most loyal and dedicated supporters. Second, they devote time and energy toward fostering deeper, more trusting relationships.

Connect with your long-term donors

Asking for a planned gift requires a more personal approach than any other form of fundraising. For best results, seek to foster long-term relationships with your potential planned givers before you make the ask.

Start by working with your team to identify your most loyal supporters. This could include people who have been donating to your cause for a long time or who have volunteered with you consistently for many years.

Next, do some research to learn what you can about this supporter before reaching out. Platforms like LinkedIn can be a key source of information about their professional life, helping you better understand where they are in their career and what direction they’re heading in.

Once you know a little more about your supporter, consider sending them a personalized note thanking them for their previous contributions. Let them know how much you appreciate their support and include some information they may be interested in, such as specific details about the impact they’ve helped you to make or updates about your organization’s future plans.

Look for ways to get your donors more involved

Once you’ve got the conversation started with a thank-you note, don’t let it fizzle out. Invite your donor to follow your nonprofit on LinkedIn and other platforms if they don’t already. Consider sending them content from time to time that is uniquely relevant to them, such as reports from your nonprofit that relate to their interests or field of work.

Even reaching out a few times a year to share personalized updates or congratulate them on an accomplishment can make a huge difference. Use LinkedIn to keep an eye on their activity to spot key opportunities to reignite the conversation. If you use LinkedIn Sales Navigator, save the donor as a lead to get updated about important activity and gain detailed, personalized insights that can inform your approach.

After establishing a rapport, look for ways to take the relationship to the next level. For example, if your donor has experience you’re looking for or seems especially invested in helping to shape your nonprofit’s future, you might approach them about becoming a board member. Even if they feel they can’t commit right now, this kind of personal invitation is flattering and may encourage them to think about other ways they could contribute to your nonprofit long term.

Explain how different forms of participation can benefit the donor

As you educate your followers on different opportunities to support your nonprofit, show them how these opportunities could benefit them, too. For instance, let’s say your supporter is a long-time donor who has previously expressed interest in their donations going toward a certain program that they care deeply about. In this case, the most effective approach may be to explain how planned giving provides a unique opportunity for them to influence how their contribution is spent, as well as offering sizable tax benefits.

Providing this information can help donors feel empowered to support your mission in the ways that work best for them and shows that you view them as valued, long-term partners in your cause.

Ultimately, you want your nonprofit to become a regular and welcome part of your donors’ lives. Make your supporters aware of all the different ways they could help and then let them choose.

Honor donors who have made great contributions

One of the best ways you can strengthen your nonprofit’s relationship with its supporters is to create content demonstrating your appreciation for their generosity.

Why not ask your long-term supporters if you can interview and feature them on your website or social media channels? During this interview, ask them questions like:

• Why is your nonprofit’s cause important to them?

• How did they first get involved with your organization?

• What impact do they hope to make through their support?

If your donor has already committed to making a planned gift and feels comfortable talking about it, asking about why they made this decision may also encourage other supporters to look into this option.

You could use the interviews you collect to create inspiring video clips, blog posts, or donor appreciation spotlights at events. However you package them, focus on the impact your interviewee has made on your organization and the communities you serve.

Content like this can not only help to create awareness about the option to make a legacy contribution, which some of your followers may be unaware of, but also shows your featured donor how much you value them. Celebrate how much of a difference that the donor's previous gifts or planned giving will make to help your donor feel great about their decision and inspire other supporters.

Building long-term relationships with your donors

For planned giving strategies to be successful, your nonprofit needs to foster meaningful relationships with supporters that make them want to commit to legacy support. By following these steps, you can start building relationships today that may lead to game-changing support for your nonprofit down the line.