What Will Be Your Legacy? Dena Morris Kaufman April, 2017 Harold - - PowerPoint PPT Presentation

What Will Be Your Legacy?

Dena Morris Kaufman – April, 2017 Harold Grinspoon Foundation jewishlifelegacy.org

"I f I fou

• und

nd a frui uitful tful wor

• rld,

, becau ause se my ancest estor

• rs

s plante ted d it t for

• r me. Likewise

ewise, , I I am planting ting for

• r futu

ture re generatio erations." ns."

• Talmud, Ta’anit 23a

Agenda

• Who’s in the room?
• What is LIFE & LEGACY?
• Success to date
• Why Now?
• Legacy Myths
• Marketing
• Stewardship
• Case Studies
• Q & A

LIFE & LEGACY is a 4 – year partnership program of the Harold Grinspoon Foundation (HGF) that assists communities across North America, to promote after- lifetime giving to benefit local Jewish day schools, synagogues, social service organizations and

• ther Jewish entities.

Through training, support and monetary incentives LIFE & LEGACY motivates Jewish organizations to secure legacy gifts and steward donors.

Benefits of Participating

• Training curriculum with a proven

track record of success

• Marketing and Stewardship Best

Practices

• Incentive Grants
• Professional Support
• Resource-oriented Website
• Community organizations work

together to transform philanthropy in your community

Training Provided

Year 1

• How to Write a Legacy Plan
• The Legacy Conversation
• Marketing

Your Legacy Program

• Effective Stewardship

Year 2

• From Letter of Intent to Formalized Gift
• Best Practices/The Integrated Ask
• Being Donor-Centric

Year 3 and 4 based on individual community needs

LIFE & LEGACY Update

December, 2016

As of December 31, 2016

 In over 4 years, 36

communities, 391 Organizations

 Secured 12,553 legacy

commitments

 Valued at an estimated $487.5

Million in future gifts to the Jewish community!

 Already realized $44 Million

Senior Living Results

As of December 31, 2016 – in 4 years

 14 Senior Homes participating  Have secured 494 legacy

commitments

 With an estimated value of more

than $24.8M in future gifts

 Over $1M realized to date

Why Now?

 The $59 trillion transfer of wealth is underway  If we don’t ask we will miss an opportunity  To maintain the vibrant Jewish community we all value  To secure the future for the next generation

“We must be the change we wish to see in the world.” Gandhi

Why Now?

Endowments, in the past a luxury, are now an essential element of any non-profit’s long-term financial stability strategy as a result of:

• Dramatic fluctuations in investment returns
• Lowest interest rates in decades
• Diminishing government grants
• Fewer financial resources and higher demands for

services

• Kathryn W. Miree & Associates, Inc.

Why Now?

Philanthropic advisors state: If 20% of your

• perating budget is not coming from your

endowment by 2025 then your organization will be in fiscal crisis so you need to begin building your endowment

What Motivates Legacy Giving?

• A commitment to being Jewish
• A desire to live up to the values instilled by

parents and grandparents

• To give back
• To make a difference
• To be a part of something larger than ourselves
• To be recognized
• To feel united with others of similar commitment & values
• To commemorate loved ones
• To share their good fortune
• To support your organization and its mission because they

value what you offer to the community

Legacy Giving Myths

The Legacy Conversation is NOT about the donor’s death. The Legacy Conversation is

• ffering the donor an opportunity

to do something significant during their lifetime.

Legacy Giving Myths

 Legacy gifts are ONLY endowments

• Yes endowments, now or later
• Also life insurance, retirement funds, bequests and other assets

 Legacy gifts = taking away inheritance

• Majority estate is left to family members
• Legacy commitments only a percentage of an estate

 No will = no legacy gift

• Portion of retirement funds, life insurance policies or other planned

giving vehicles

Legacy Prospects Myths

 Only those over 65 are planned giving prospects

• A donor of any age can be a legacy donor
• Recent study found that 40-49 year olds have the greatest number
• f bequests to Jewish causes IF they have a will

 Only wealthy people are prospects

• Legacy most egalitarian form of fundraising
• Best prospects - most loyal donors

 Donors are going to leave everything to their

children

• Donors who have demonstrated a commitment to your organization

are likely going to want to illustrate that relationship to their children by leaving a percentage of their estate to you

Need to get out of the mindset of the here and now and instead cultivate a culture of planning for the future.

Recommended Methodology

• Form a Legacy team
• Write a Case Statement
• Write a plan and decide on goals
• Identify the RIGHT prospects
• Have great conversations with prospects
• Market your program
• Steward your donors effectively

Marketing

• Use tagline EVERYWHERE
• Ads and articles
• Newsletter content
• Visuals including posters, banners, electronic
• T

ent cards

• Website, social media, email
• Keep your Board of Directors informed

Tagline Please remember (organization) with a gift in your will, trust, retirement account,

• r life insurance policy.

Stationery, Envelopes, Email signature lines with link, Newsletters, Email blasts, Pop-up on tables, Front page on website… EVERYWHERE

Ads

You Can Use As:

• Newsletters
• Flyer at an event
• Pop-up ad (Lucite)
• On website
• On Social Media
• Table in your lobby
• As a poster
• As a Statement Stuffer

Send a Newsletter

Consider for every issue:

• Legacy-related article
• Donor testimonial
• Display ad
• Information about who to contact
• Suggestion to visit website
• Clip & Mail form or Reply postcard

Stand Up Banner

T ent Cards

Websites

Charles E Smith Jewish Day School, Rockville, MD Click button to make gift Clicks to learn more Testimonials Listing of Donors

Why Stewardship

• Strengthens your relationship with your legacy

donors

• Keeps them engaged
• Makes them feel appreciated

Ideal Stewardship

Efficient Back Office Financially Stable and Responsible Further Engage Donors Acknowledge and Recognize Donors

Stewardship

• Thank donors promptly (personal note and call)
• List donors
• Use ads that Steward your donors AND market your

program

• Utilize donor stories and testimonials
• Report impact to donors
• Thank donors publically
• Invite to event
• Create a Legacy Society

Stewardship that is also Marketing

Sample T estimonial

Reporting to Donors

Public Thank You

Thank and Recognize Legacy Donors

“I want to take a moment and thank our Legacy donors for their commitment to sustaining our future. These individuals and families, (optional: whose names are listed in the flyer), have named the (organization) in their will, trust, retirement account or life insurance policy as one way of expressing the role the (organization) plays in their life. We are very grateful.”

Minimum of 4 T

• uches
• Reception before

“community” gathering

• Shabbat Dinner
• Invitation to event not
• pen to general

community

• Legacy Shabbats
• Annual meetings – light

candles

• Galas or other special

events

• Newsletters or

newspaper

• Website
• Poster, digital display or

donor wall

• Annual report or

programs

• Annual meeting or other

gatherings

• Thank you note
• Phone call
• Cards on Anniversary of

Legacy Commitment/Holidays

• Meaningful gift
• Letter/Report sharing

your impact

Personal Touch

including

Impact Reporting Testimonials/ Donor Listings Special gathering for Legacy donors Recognition at “community” gatherings

Ultimate Goal

Legacy Giving Integrated into your Philanthropic Culture

Why Now?

So generous and forward- thinking members of your Jewish community have an

• pportunity to express

their passion, purpose and commitment to the future of your organization and the Greater Jewish Community

Case Studies

Memphis Jewish Home & Rehab, Memphis, TN Joel Y. Ashner, Director of Philanthropy and Community Engagement

 90 year old organization  160 bed nursing home  About 25-30% Jewish patients/residents  Jewish population of Memphis is about 8,500 people  Development/PR Department of 1  Golf Tournament, direct-mail, major gifts, Legacy and Endowment  Capital Campaign beginning later this year  Legacy Society established in 2008

Case Studies

Case Studies

Case Studies

Heritage Point, Orange County, CA Beth Slavin, Director of Philanthropy

 27 year old organization  200 bed facility (independent and assisted , 16 bed memory

care)

 95% Jewish residents  Development/PR Department of 3  Legacy Society established in 2013

Case Studies

Case Studies

Organizations of all sizes can implement a Legacy Giving program

 Heritage Point, Orange County, CA

Beth Slavin, Director of Philanthropy

 Memphis Jewish Home & Rehab, Memphis,

TN Joel Y. Ashner, Director of Philanthropy and Community Engagement

What Will Be Your Legacy?

Dena Morris Kaufman – April, 2017 Harold Grinspoon Foundation jewishlifelegacy.org

"I f I fou

• und

nd a frui uitful tful wor

• rld,

, becau ause se my ancest estor

• rs

s plante ted d it t for

• r me. Likewise

ewise, , I I am planting ting for

• r futu

ture re generatio erations." ns."

• Talmud, Ta’anit 23a