Comments on: Legacy Marketing Pay-Off

By: John Ladd

John Ladd — Sun, 15 Aug 2010 18:58:45 +0000

Another great article. Thank you.
There’s a little nugget of data that leaps out at me (though it’s in parentheses in the FLA report): that the likelihood of receiving a bequest from our best potential donors DOUBLES if they are monthly donors.
I would be interested in the wisdom of others as to why this might be the case, and whether monthly donors are displaying a different level or type of loyalty. Any thoughts?

By: Lawrence Henze

Lawrence Henze — Wed, 24 Mar 2010 22:06:51 +0000

These figures do not surprise me. Through the years I have been tracking similar numbers in the United States, usually hovering between 80-83%.

There are many reasons for this, including an obvious one; we cultivate and steward top-dollar donors more effectively, and ignore our loyal, low-end donors and fail to build personal relationships with these individuals. As a result, they are far less likely to share their commitments with us during their lifetime.

Yes, I know that is an overly-general comment, and that some of these donors hold this information close because the fiscal conservatism that drives this gift type is also closely associated with individual privacy.

Nevertheless, donor behavior provides a clue and a change in stewardship behavior provides at least one viable answer.

By: Christiana

Christiana — Wed, 24 Mar 2010 21:45:40 +0000

Tom, great stuff. I’m crazy and passionate about bequests. I’m not surprised that 92% of bequests, according to the Canadian research, appear to fall from the sky.

Why? Simply because most nonprofits take no action to ask their donors for bequests. Many UK and Australian nonprofits with active bequest fundraising approaches are taking control of their bequest fundraising to actively ask and work with their donors to include the charity in their will.

There is also a great report about Help the Aged published in the Wiley Nonprofit marketing journal about them analyzing where their bequest came from, as well as using that knowledge to inform further bequest marketing campaigns. http://www3.interscience.wiley.com/journal/122455326/abstract?CRETRY=1&SRETRY=0

By: Jim Lord

Jim Lord — Sun, 21 Mar 2010 18:12:09 +0000

The surprising breakthrough can actually be a common occurrence, and there are things we can do to encourage it, immediately. Social psychology is a fountain of knowledge we can draw from.

By: tbelford

tbelford — Fri, 19 Mar 2010 22:15:42 +0000

From Bob Bland:
It is a big mistake to equate legacy marketing with bequests. Most bequest will indeed be surprises, but Charitable Gift Annuities and other planned gifts will not be. I doubt Canada has CGAs as such but may have other arrangements for “beyond life time value.” My own estate plans moves most of the estate into a Fidelity Charitable Gift Fund to be distributed by the person I nominate. So I fully expect my annual gifts to continue for some time after I can no longer control the keyboard.

From Tom: See, I told you I knew just enough about planned giving to be dangerous! However, I’m still not prepared to accept that 93% of bequests should be surprises. As Roger points out … there are important clues provided by donor behavior.

By: Dan Blakemore

Dan Blakemore — Fri, 19 Mar 2010 14:14:35 +0000

In the last five years, my organization has received at least 10 bequests, with at least half of them coming in without any prior knowledge.

By: Lisa Sargent

Lisa Sargent — Fri, 19 Mar 2010 10:29:18 +0000

For those who haven’t yet read Iceberg Philanthropy, the book on legacy giving by Fraser Green, et. al, it’s well worth it. Also excellent: “Just the Facts on Legacy Giving,” by Mal Warwick, on SOFII: http://www.sofii.org/active%20site/Members%20area/Article15MalW.html