Moving Towards Reconfirming Intentions More Often

First, the science - Russell James & Christopher Baker (2015) discovered in their longitudinal study that #plannedgiving #donors over 50 are only 50% likely to keep a #charity in their plan in 10 years. 

I had to reread the #research because it runs counter to what I was taught 20 years ago (that 85% of all gifts remain in a plan until death). 

====> Case example: a #nonprofit lost touch with a number of major donors with non-cash assets publicly destined for the #organization in their #estateplans.

When the donors died, the charity didn't know whom to call about how to memorialize the donor in their #communication or whom to engage. 

Turns out, the donors' plans could not be found and some had changed their minds. As a result, the #nonprofit changed its practices to include:

a. Reconfirm and document donors’ wishes on how to be acknowledged and ask for excerpts of their plans if they allow it;

b. Ask for names and contact information for both the estate #executor and the #professional #advisors close to the donors; and, 

c. Secure permission in writing from the donor to reach out in the event the donor is not able to respond.

d. The organization in question developed a standing policy to confirm a donor’s intention every two to three years to keep the list of the giving society as current as possible. 

These practices allow for a revisiting of the donors’ intentions and how they wish the charity to spend and/or invest their gift. Further, because so many donors had expressed interest in using non-cash assets and nontraditional items for charitable purposes, the organization amended its gift acceptance policy multiple times to allow for more giving – and more creative giving. 

The source: https://lnkd.in/eryNwiMB