Why You Are Not Getting the Legacy Gifts

Why You Aren’t Getting the Gift

When you're missing an annual gift from a donor, you feel it right away.  When you run that report and you see it is missing, you're able to follow it that year or maybe the following year. But what about when you don't get a legacy gift? That's not so easy to track. Read on to understand why you may not be getting those legacy gifts and what you can do about it to change it around and get some legacy gifts.

Your Mindset

The number one reason why you're not getting legacy gifts is your mindset. That is the first thing that you need to shift. Many people are concerned about asking for a legacy gift or have created obstacles in their heads standing in the way of having that legacy conversation. 

What kind of mindsets are those? It could be “How do I actually ask for a gift?” It could be a mindset that legacy gifts are too complicated. After all, they are about death and taxes. Maybe you are unsure of how to have a conversation with the donor, or when the right time is to have the conversation. These are common obstacles that a lot of people come across when they need to, or they know they need to, ask for legacy gifts.

You’re Overwhelmed

You might also question how to incorporate a legacy giving program within your existing development program. Perhaps you don't have enough information about legacy gifts. Maybe you think that they are only gifts that come into the future. If you're not sure about the legacy gifts themselves, that could be holding you back as well. There is a lot of information out there, and perhaps you are overwhelmed by all this information about legacy giving, and not quite understanding how to have that legacy conversation and easily add it to your program..

Support From Your Board

If you aren’t getting legacy gifts, ask yourself if your board is supportive of the program. Are they supportive of the actual program by allocating a budget and staff to the program? Do you have a budget to work with for marketing? Do you have dedicated staff to work on these legacy conversations? 

Your board should be your most engaged donors. They should be making the first legacy gifts to your organization. 

Strategy

It's great to start to have conversations with your donors, but you need to have a strategy in place in order to get that gift from the initial ask through the time that it closes. Remember that these gifts have a long lifespan to them. You may not see these gifts for many years from now, so you must have a plan in place to steward the donor and track the gift and make sure that this gift is recognized and doesn't become revocable. 

Your Legacy Messaging

You may have a strategy in place, but your strategy is not going to work if you don't understand your legacy message. This is why creating a very effective case statement that solely addresses legacy giving is so important. It's not about your mission. It's not about your programming.  The legacy case statement is going to address why your organization is unique and why donors should make a legacy donation to your organization. You and anyone that has conversations with your donors are going to be able to understand why you need a legacy gift for the future.

If you're asking for a legacy gift, your donor may decide he or she will instead give you an annual gift now. You have to be able to have that conversation about why you need it for the future, as well as annual gifts. And trust me, just saying to support the future of the organization is not the best way to do it because it's overplayed. Yes, you need to support the future of the organization. But why? What are you doing that's so important? How are you growing? What do you need that future impactful gift for? 

Next Steps

If you have a plan in place, if you break through those mindsets and those obstacles holding you back, if you understand why you need legacy gifts for the future, if your board is supportive of this, you’ll be able to have conversations with your donors. And most importantly, you’ll have clarity and confidence to take action and succeed.