One of the things I've learned
about helping new development officers is that the quicker they can find
partners amongst for-profit advisors, the faster they can get their programs
off the ground. Why is that? A Prince survey of wealthy donors published
in 1997 stated that for-profit advisors motivated 78.3% of planned gifts. Since many development officers come up
through the ranks as educators or social workers, few have a lot of real world
financial experience with significant wealth, so some donors may not feel
comfortable divulging information of a confidential nature to employees of
charities. On the other hand, the
gatekeepers to private wealth are the professional advisors, so it makes sense
to create planning partnerships to further your program's success.
Once settled into the
job, a new development officer should gather other professional advisors around
and create a synergistic relationship.
Where to start? Find a mentor,
even a virtual one, and bounce ideas around.
You'll never learn if you don't ask questions because this is a
complicated business. Unfortunately,
most development people are thrown into the deep end of the pool without any
training and they are soon overwhelmed.
With all of the technical material to learn, information on the
charity's mission and history to absorb, and donor cultivation to keep current,
there's more than enough to stay busy, so delegate the learning to a support
group. Start a planned giving committee
and make use of community resources, encourage a bank or financial services
firm to co-sponsor an event, find area speakers who are respected and
knowledgeable to reinforce frequent presentations. Offer workshops and ongoing training for advisors, establish
relationships and you'll encourage more cooperation but accept the fact that
donors are inclined to support more than one charity. The problem with some advisors (I'm being blunt here) is that
they usually have to see why it's helpful to them and their clients, and not
just an altruistic, tax deductible strategy that many development officers use
to motivate gifts from donors. By
presenting objective solutions to donors' financial and estate planning
problems, you can educate advisors how planned giving fits into the process. Client donors seek advice from many sources,
often listening to the last person who talked to them. If every advisor they refer to validates the
planning process and gift planning tools, they will be more comfortable doing
something unnatural, i.e., giving their stuff away while they're still using
it.
Other tools to use? Make use of the Internet discussion groups,
which are especially important in small development shops with no one to bounce
ideas around. Join your local planned
giving council and get involved. Attend
workshops and seminars, get as many of your pre-approved committee members as
you can to come to your organization and do programs for both the staff and
donors, learn wherever you can.
As an example of the
collegiality found on the Internet, I asked for some suggestions for new development
officers and was offered several excellent ideas, some of which follow:
·
"No one makes
a gift until asked to do so." -- Sam Highsmith, JD
·
"Do your
giving while you're living so you're knowing where it's going." -- Hal
Moorman
·
"Give
appreciated capital assets while you're alive.
Leave IRD assets at death." -- Douglas Wise
·
"if you are
benefiting another person who is not your spouse with your charitable gift, it
will cost you either unified credit or gift tax" -- Stuart Sullivan
·
"if you are
wealthy enough, your are going to be a philanthropist when you die, you can
choose the charities or the government will choose them for you" -- Stuart Sullivan
·
"Many
individuals do not know what the term "charitably inclined" or
"nonprofit" means. However,
they are apt to respond positively when asked, "have any organizations
meant a lot to you or your family, such as your church or university or Girl
Scouts?" -- Kate Busch
·
"Remember, new
development person, it costs money to give money away. Treat a prospect with respect because a gift
is an expense from her/his perspective." -- Dick Zinzer
·
"Using a private foundation as the donee
charity can permit a family to control the manner in which the family's wealth
is dispensed for social causes, be a focal point for future family interaction,
give children, grandchildren, and descendants a clear sense of social and moral
duty and purpose, not to mention providing substantial tax deductions." --
Wes Yang, Esq.
·
If you have to make
a choice, develop your people skills first and the technical knowledge
second. You meet the people, you can
hire the technicians. -- Mike Howell
·
"Generally,
you should make a charitable bequest out of an IRA or other retirement plan
rather than from your will or revocable trust." -- Scott Blakesley, Esq.
Copyright 1999 - Vaughn W. Henry
Henry & Associates -- Gift and Estate Planning Services
22 Hyde Park, Springfield, IL 62703
217.529.1958 voice / 217.529.1959 fax