Election years bring a unique set of challenges and opportunities for nonprofits. The political climate can significantly impact donor behavior, influencing how and when people give. With heightened attention on political campaigns and causes, nonprofits must navigate a crowded fundraising landscape to maintain and grow their donor base. In this context, planned giving becomes an essential strategy for ensuring long-term financial stability and sustaining mission-driven work. LifeLegacy provides valuable digital estate planning and marketing tools to help you accomplish these goals.
Here are 5 strategies you can deploy now to ensure a steady flow of planned gifts in 2024:
Emphasize the enduring impact of planned gifts. By showcasing stories of how legacy gifts have transformed your organization and its beneficiaries, you can inspire donors to think about their own legacy. Highlighting the benefits of stability and future growth that planned giving provides can resonate with current supporters.
Clear and consistent communication about the benefits of planned giving is essential. You can provide specific information for your donors on the different types of planned gifts, such as bequests in wills, charitable gift annuities, beneficiary designations from life insurance and investment accounts and trusts. Providing information on how these gifts work and their tax advantages can help donors understand the value of planned giving during an election year. LifeLegacy has a comprehensive library of marketing and communication tools, including sample social posts, emails, letters and other tools to help you engage with donors.
Tailored outreach can make a significant difference in engaging potential planned givers. Personalized communications that reflect the donor’s history with your organization and their philanthropic goals can foster a sense of connection and commitment. Using data to segment donors and create targeted campaigns can enhance the effectiveness of planned giving appeals. For instance, you can highlight the fact that donor Diane has been a three year supporter, committing $50 per month, then remind her that she has the opportunity to leave a lasting legacy using some of the giving tools highlighted above.
In an increasingly digital world, leveraging online platforms and tools like LifeLegacy’s branded digital estate planning suite can amplify planned giving efforts. Also, virtual seminars, webinars, and informational videos about planned giving can reach a wider audience and provide valuable education to potential donors. Maintaining an updated and informative planned giving section on the nonprofit’s website can serve as a resource for donors seeking more information. LifeLegacy can assist in this regard as well, through our partnership with plannedgiving.com.
Building relationships with financial advisors and estate planners can be a strategic move for your organization to promote planned giving. These professionals can serve as advocates for your nonprofit, encouraging their clients to consider including your organization in their estate plans. Providing advisors with the necessary tools and information to discuss planned giving with their clients can facilitate these conversations.
Planned giving is a vital component of nonprofit fundraising, particularly during an election year. By providing stability, engaging donors in legacy planning, and mitigating donor fatigue, planned giving helps nonprofits navigate the challenges posed by the political climate.
LifeLegacy works with scores of nonprofits to assist with their planned giving efforts. Our white-labeled estate planning tools allow you to help the 70% of donors who do not have an updated last will & testament, and prompts them to consider a gift to your organization.
Head of Partnerships
Craig@lifelegacy.io
Retaining donors is more cost-effective than acquiring new ones. Learn practical strategies nonprofits can use to improve donor retention and grow sustainably.
If you need a single, compelling reason to prioritize planned giving this year, here it is: around 46 billion dollars flows to charities every year through bequests. In fact, the latest Giving USA numbers show that bequests in 2024 totaled about $45.84 billion—roughly 8% of all U.S. charitable giving for the year. That’s not a rounding error; it’s a transformative funding stream your mission can’t afford to ignore.
One of the most interesting parts of planned giving is that you never know what is going to happen! Planned gifts will surprise you. In an earlier blog, I talked about the planned gift that I DIDN’T accept. That was not even close to the most interesting gift that I ever received.
And this one isn’t either. But it was something I never expected.
Be the first to get notified when we go live with our will product.
