Planned Giving in Small Shops An Essential Component
- Slides: 18
Planned Giving in Small Shops An Essential Component in NGO Fundraising Christine Kwan The Hong Kong Council of Social Service
Planned Giving Basics n Planned giving is the cultivation of donors for the purpose of receiving major gifts, usually in the future. n The gift is made from donor’s assets, not current income. n Because of size and complexity, they require planning and often are transmitted through a legal instrument such as a will or a trust.
US Experience n Philanthropic Giving Index (June 2005) by The Centre on Philanthropy, Indiana University Ø Ø fundraisers rated planned giving as the 2 nd most successful solicitation technique. (especially with health & religious non-profits) 6. 9% of fundraisers report that their organization received 51 -75% of their revenue from planned gifts.
US Experience n “Leave a Legacy” campaign http: //www. leavealegacy. org Ø a national effort to inspire people from all walks of life and all income levels to think beyond their lifespan when doing good works. Ø donors to remember a cause or a charity in their will or estate plan.
UK Experience n Planned giving up 50% in 4 years. n 2002: http: //www. rememberacharity. org. uk Ø Ø achieved 32% awareness of its message in the 1 st year; constitute a major proportion of nonprofits’ incomes.
To Sum Up Planned Giving has the following advantages: n contribute towards NGO’s development programs regardless of economic downturns n cost effective n offer attractive options to donors
To Sum Up but it also requires… n organizational patience n time n legal and financial planning advice n non-profits to establish own Gift Acceptance Policies for its planned giving program
What about HK? n Not tax-driven, $0 estate duty with effect from Feb 11, 2006 vs. overseas: planned gifts can decrease taxes & increase inheritances to loved ones. n Culture of passing wealth to the next generation vs. overseas: charity as the primary estate beneficiary
Ageing Population n HK ageing population 27% 12. 1% 13%
Ageing Population n A larger and wider spectrum of elderly population: ¡ ¡ n age groups: under 75, 75 -84, 85 or above different health conditions & socio-economic characteristics A higher elderly dependency ratio: ¡ ¡ ¡ 2004: 164 2013: 378 mid 2033: 428
Implications n What should be done to prepare for the challenges in an anticipated aging society? n How to prioritize NGO’s fundraising strategies in the next 5 year plan (20072012)?
Assess Readiness n Institutional Audit ¡ ¡ n Assess financial viability / stability Review, adapt mission statement Program Audit ¡ ¡ Interview supervisors, board, key supporters to initiate buy-in Review donor base strengths & weaknesses Staff Audit n ¡ ¡ Identify staff/ budget resources Assess educational preparation
Prerequisites n Review your audits n Select model ¡ ¡ ¡ Volunteer-driven Staff-driven Combination n Want to get started n Decide what to promote
Available Platforms HKCSS support initiatives: n Will Power for Legacy n Life Care Movement ¡ www. lifecare. org. hk
Keep In Touch Christine Kwan HKCSS T: 2876 2453 christine. kwan@hkcss. org. hk
- A wise economist asks a question
- Planned giving and trust services
- Phil purcell planned giving
- Planned giving certification
- Planned giving and trust services
- Plamatic acid
- What do you buy from the shops in exercise 1
- Wise trading dutyfree shops
- Shops and commercial establishment act
- Objective of flowers
- Shops in britain
- Food countable or uncountable
- Forty niner shops
- Sib shops
- Kinds of shops
- Compare and contrast business organizations
- Office 365 planned maintenance
- Internal public relations definition
- Types of planned maintenance