Cultivating Bequests

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Cultivating Bequests. Small Shop or Large, STILL the Greatest ROI Pittsburgh Planned Giving Council- Leave A Legacy Committee Emerging Philanthropy Conference April 26, 2012. Bequests Go to the Movies!. Karl J. Ohrman, CLU President, Coordinated Financial Services. - PowerPoint PPT Presentation

Transcript of Cultivating Bequests

Im Worth More to You Dead than Alive!

Cultivating Bequests Small Shop or Large, STILL the Greatest ROIPittsburgh Planned Giving Council- Leave A Legacy CommitteeEmerging Philanthropy ConferenceApril 26, 20121Bequests Go to the Movies!Karl J. Ohrman, CLUPresident, Coordinated Financial ServicesBest Practices-Getting StartedMarc FieldDirector of DevelopmentThe First Tee of PittsburghBest Practices-Client ViewElise Roby Yanders, CFP, CIMAVice President, Wealth Management AdvisorMerrill Lynch Global Private Client GroupLeave A Legacy-Just Get Started/ResourcesJim SismourCharitable Relationship Manager, Planned GivingUniversity of Pittsburgh6Growing Philanthropy in the United StatesImprove the quality of bequest fundraising practice.

While over 80 percent of Americans will support the nonprofit sector during their lifetimes, only around 8 percent of them will do so on their death. Evidence suggests that the percentage of estates containing a charitable bequest has remained static for over 100 years (Harris, 1911).

There is Great Opportunity

7in the House, which is expected to vote on the package on Thursdaythe estate tax provision (that) would exempt from taxes $5 million per person, with a maximum rate of 35 percent, for two years. Democrats have supported a lower $3.5 million per person exemption and a 45 percent tax rate. The difference in terms of people affected between the Democratic approach (6,500 estates) and the compromise package (3,600 estates) is smallNew York Times, December 15, 2010Estate Taxes: Helpful? Hurtful? 8in this world of many, many, many nonprofits, if your organization isnt asking for bequest support, many donors will assume thats because youre already receiving enough funding from other sources.Prospective supporters will think your organization doesnt need their later gifts and will include other favorite nonprofits in their wills instead. Ouch. You may have been their #1 choice originally, but the organizations silence on bequest needs can be interpreted as no need for it.Deborah Miller, JD Director of Planned GivingWVU Foundation, Inc.

Youve Got to be Asking!9Of Bequest Donors:

Average Age at Last Will:79Average Age at death:84

Robert F. Sharpe, Jr.Partnership for Philanthropic PlanningNational Conference, October 2010Its (almost) Never Too Late!10


12QUESTIONS?Cultivating Bequests