3 Simple Signs You Need a Legacy Program
If you are reading this you understand the need to either start, or grow, a legacy giving program. Good for you! If you are in the exploration phase the following reasons you need a legacy program should give you the confidence to know you are heading in the right direction. And, if you are in the “denial phase”, well perhaps this will give you an extra nudge in the right direction!
You are losing annual donors faster than replacing them
If you are losing annual donors it can be a sign to reengage your annual donors; a good way to do this is to create a recognition program that encourages your donors to leave legacy gifts. When donors make a legacy gift they feel more engaged with the organization and its future. Their annual gifts will tend to be steady and even increase due to the increase in stewardship.
Donors have passed away and you didn’t receive a legacy gift
Sadly, we lose our donors sometimes not due to lack of engagement but from them passing away. If you lost a donor and never asked for a legacy gift, your organizational budget will feel that pain as well. If the donor was a major gift donor or board member in which you counted on the gift, you will need to fill that void elsewhere.
If you had asked for a legacy gift your donors’ giving, and legacy, would live on by supporting the future of the organization.
You are in a period of growth
You are starting to grow your programs, you are staffing up, building new facilities, investing in new technology, and the list goes on. Once you start planning on the future of your organization, and how to improve and scale you will need to secure the financing of the organization into the future. The best way to do that is to begin asking for legacy gifts that will fuel a pipeline to support your future needs.
Are you ready to start asking for legacy gifts? Read here for tips on how to build your legacy giving team.
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