In today’s digital age, nonprofits are increasingly turning to innovative solutions to ensure their long-term financial stability. According to the 2024 Nonprofit Digital Investments report sponsored by NTEN and Heller Consulting, “Fundraising and Financial Stability” is a significant area of higher focus for 66% of nonprofits. This emphasis reflects the growing need for sustainable funding streams beyond traditional annual fundraising campaigns. Among the powerful technological tools that nonprofits can leverage are SaaS-based online estate planning platforms, particularly through partnerships with industry-leading providers like LifeLegacy, which offers simple, accessible online estate plans custom-built for nonprofits.
Planned giving, specifically through bequests in wills, represents a substantial and often untapped source of long-term nonprofit funding. Donors who include a nonprofit in their estate plans can provide transformative gifts that support the organization’s mission far into the future. However, many donors never formalize their intentions due to the perceived complexity and cost of traditional estate planning.
This is where LifeLegacy’s online estate planning and planned giving tools come in. By offering donors free access to an online will, nonprofits can easily remove these barriers and empower them to include charitable bequests in their estate plans. This strategy enhances fundraising efforts and ensures the nonprofit’s long-term financial stability.
Simplified Estate Planning: LifeLegacy’s online platform makes estate planning simple and accessible for donors. With user-friendly tools, donors can create a will in just minutes, ensuring that their assets are distributed according to their wishes, including any charitable contributions. By offering this service for free, nonprofits make it easy for donors to include a bequest, removing common obstacles like cost and complexity.
Increased Donor Engagement: Providing an online estate planning tool shows donors that your nonprofit values their long-term support and wants to make it as convenient as possible for them to leave a lasting legacy. This level of engagement can deepen donor relationships, increase donor retention, and even encourage additional lifetime giving.
Diversified Revenue Streams: Relying solely on annual fundraising campaigns can be unpredictable. By promoting planned giving through online tools like an online will, nonprofits can diversify their revenue streams and reduce financial uncertainty. Bequests and other planned gifts can provide a significant and reliable source of funding that grows over time, ensuring the organization’s financial stability.
Cost-Effective Fundraising: Traditional estate planning can be time-consuming and expensive, both for donors and for nonprofits. With LifeLegacy’s online planned giving platform, The Giving Suite, nonprofits can offer estate planning services at no cost to their donors, saving both time and resources. This cost-effective approach to planned giving makes it easier for nonprofits of all sizes to participate in dynamic fundraising.
Strengthened Legacy Giving Programs: A nonprofit can reach a broader audience by integrating online estate planning into its legacy giving program. Digital tools appeal to donors of all ages, particularly those new to estate planning. This expands your potential pool of legacy donors and increases the likelihood of securing future gifts.
Partnering with LifeLegacy is a simple and effective way for nonprofits to enhance their fundraising efforts and ensure long-term financial stability. Here’s how to get started:
Promote the Service to Donors: Inform your donors about the availability of free online wills through your nonprofit. This can be done through direct mail, email campaigns, social media, and other marketing channels. Best of all, LifeLegacy equips its nonprofit partners with a customized marketing playbook that helps your organization decide when, where, and how to effectively drive more planned gifts (while building your program).
Educate Your Donors: Provide resources and information on the importance of estate planning and how a bequest can make a lasting impact on your nonprofit’s mission.
Make It Easy: Ensure that the process is seamless by providing clear instructions and support for donors as they use LifeLegacy’s online estate planning tools.
As nonprofits continue to prioritize financial stability, innovative solutions like LifeLegacy’s online estate planning tools offer a compelling way to leverage technology to enhance fundraising efforts. By providing free access to online wills, nonprofits can empower their donors to make meaningful, long-term contributions, ensuring that their mission is supported for years to come. In a time where securing diverse revenue streams is essential, embracing technology can be a game-changer for nonprofits looking to build a sustainable future.
Head of Partnerships
Craig@lifelegacy.io
A Qualified Charitable Distribution (QCD) is a powerful tool that allows IRA owners to donate directly to qualified charities, bypassing the usual tax implications of IRA distributions.
Encouraging donors to give from their IRA is a creative way for a donor to give with impact and save on taxes. The impact is the same whether a donor gives from their bank account or their IRA. A QCD gift is a win-win!
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