Planned Giving : ‘How Old Are You and Did You Know You Could … ?’

Key questions to initiate planned-gift discussions with donors of any age.

Asking questions and educating prospects about ways to make gifts are the hallmark of our jobs as fundraisers. In this article, we will describe how to ask strategic questions to obtain key information; how to introduce the topics of bequests, charitable gift annuities and charitable remainder trusts; how to encourage membership in a heritage society; and how to make a combined planned- and major-gift solicitation to a prospect.

Along the way, we will describe some common cues and clues for various types of planned gifts, providing information that’s useful for both veteran and novice gift-planning officers.

Throughout this discussion, we assume that we are talking with prospects who have been screened using the tools available to us, and whom we believe could make future gifts — both outright and deferred — to benefit our organizations.

We are beginning the process of assessment and cultivation. Our objective is to ask open-ended and leading questions in an effort to determine whether a prospect has affinity for our organization and the capacity to make a gift. Along the way, we will begin to cultivate that affinity.

To truly excel at cultivating prospects for planned gifts, we need to be able to listen and respond to cues and clues that our prospects share. We will identify cues to listen for and prepare you to respond appropriately when those clues are raised by educating your prospects about gift options that will fulfill their financial needs and their philanthropic objectives.

10 key questions for donors and prospects

1. How old are you?
Depending on the type of organization for which you work, you may have extensive records on your constituents: home and business addresses, phone numbers, work history, family, board memberships and gift history. One thing you may lack, however, is a prospect’s date of birth. This key piece of information can help you in many ways.

First, if you are in a campaign, age might well be a factor in counting revocable gifts or in determining the net present value of a future interest. Second, to prepare accurate calculations of tax deductions and income interests for life income gifts (charitable gift annuities, charitable remainder trusts, charitable lead trusts and pooled income funds), you will need the prospect’s date of birth — and perhaps also a spouse/significant other’s date of birth. Third, during the cultivation period (and beyond), birthday cards are excellent tools to maintain contact, especially for those prospects and donors who do not have any family members and who live at a distance from your organization. Finally, to ensure that limited marketing dollars are well-spent and marketing pieces are directed to the most appropriate audiences, you will want to be able to segment your database on the basis of age.

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