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Rose Community Foundation Live On Program

Rose Community Foundation Live On Program. Bequest Relationship Building Betsy A. Mangone Vice President, Philanthropic Services Group The Denver Foundation. Why Bequests are Important- a Review . Bequests produce the greatest amount of revenue as a percent of fundraising dollars

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Rose Community Foundation Live On Program

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  1. Rose Community FoundationLive On Program Bequest Relationship Building Betsy A. Mangone Vice President, Philanthropic Services Group The Denver Foundation

  2. Why Bequests are Important-a Review • Bequests produce the greatest amount of revenue as a percent of fundraising dollars • Bequests are cost effective • People of any means can leave bequests-thus creating an opportunity for all to enjoy being philanthropists

  3. Why Bequests are Important-a Review • Donors are more likely to give bequests than other types of gifts • Control assets during their lifetime • Can adjust bequest amounts depending on life circumstances • Bequests will increase your annual fund

  4. A Conversation About How to Use the “Donor Record” Form • From the donor’s perspective • Private • Confidential • From your perspective • Clarification • Planning

  5. Stewardship and Accountability • Why stewardship and accountability are important for bequests • Ethical reasons • Donors are assigning their hard-earned assets to your organization • Bequests are gifts from the ‘heart’ • Practical reasons • Increase annual gifts • Maintain bequest gifts

  6. Stewardship and Accountability • Why stewardship and accountability are important for bequests • Financial Reasons • Revocable • Because donors deserve it

  7. Tools for Keeping Bequests Build relationships • Visits • Correspondence • Invitations to events • Mailing lists

  8. Tools for Keeping Bequests • Establish a legacy society • Define the society’s purpose • Recognition • Education • Further commitment

  9. Tools for Keeping Bequests • Establish a legacy society • Set membership qualifications • Inclusive • Exclusive • Charter members

  10. Tools for Keeping Bequests • Establish a legacy society • Name the society • Determine the benefits • Annual event • Publications • Personal briefings • Gifts

  11. Tools for Keeping Bequests • Donor walls-important? • Publication of members names

  12. Involve the Board • Board member activities • Make a bequest • Identify bequest prospects • Assist with stewardship of bequest donors • Approve the bequest program policy

  13. A Bequest Advisory Committee • What is it? • What is the purpose? • Who should be invited to join? • Issues to consider • Job descriptions • Term limits • Financial support • Meeting schedule

  14. Allocating Time for Relationship Building in a Small Shop FACTS • The vast majority of successful bequest programs in the country are managed part-time • Bequest programs are easy to manage

  15. Allocating Time for Relationship Building in a Small Shop TOOLS 1. Plan Have a plan that includes a specific number of hours a week devoted to bequest work—always the same hours at the same time • Example-Monday mornings from 9-10:30

  16. Allocating Time for Relationship Building in a Small Shop TOOLS (Con’t) 2. Personal Contact • Make phone calls first • Send follow-up correspondence next • Send initiating correspondence next • Review legacy society ‘to-do’ list next

  17. Allocating Time for Relationship Building in a Small Shop • Institutionalize the program • Utilize board and volunteers to participate

  18. The Key to Relationship Building • Appreciate, honor and respect your donors

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