The role of a fundraiser has countless duties and wears far too many hats. Nonprofits of all types, including faith-based organizations – have challenges when it comes to raising funds.
How many more bake sales or fancy dinners can you have? Fundraising is a necessary part of keeping the lights on, paying staff, maintaining facilities and helping those that need assistance.
Annual events such as walks, runs, galas, dinners and coat drives are wonderful. They provide a great opportunity to meet supporters, work with volunteers, and of course raise money to continue the good works of your nonprofit.
Is there more to fundraising than this? Absolutely.
Here’s one fundraiser that is mostly untapped by fundraisers: Planned Giving. What is planned giving one might ask? In short, it is a gift usually made to a nonprofit through a will, trust or beneficiary designation.
Many gifts are made to nonprofits by donors who include their favorite charity as a beneficiary of a 401(k), life insurance policy, or retirement account. Other assets can be gifted to nonprofits such as – real estate, art and annuities, to name a few of the items that can be donated.
Start a planned giving plan at your nonprofit. It’s not something that only large organizations should have. Small nonprofits can get the ball rolling with few resources. The time to start is now.
If your organization doesn’t ask supporters and donors about their plans for gifts, you can be sure that another nonprofit is asking.
Planned giving is a way to grow and sustain your nonprofit for generations to come. What’s your nonprofit waiting on?
The information in this article is not intended to be legal advice. Seek legal counsel based on your particular situation.
Aquanetta J. Betts is an attorney licensed in Washington, DC and Maryland. Her law practice focuses on estate planning, charitable giving and small businesses.
Aquanetta Betts is also an: event speaker, lover of estate planning and planned giving, former flight attendant, southern born #FIU and #NovaLaw Alumna.
Connect with her on Twitter @AquanettaBetts