A Focus on Estate Giving

The Center on Wealth and Philanthropy estimates that from 1998 to 2052, as much as $27 trillion in charitable bequests will be made. As estates become very large, wealth-holders tend to move their resources away from heirs toward nonprofits with clear missions and solid track records of enacting change.

If your organization was not among the recipients of the $23 billion of bequests transferred in 2007 alone, it's time to reconsider your fundraising focus. Here are a few tips:

Practice Patience
While some estate giving programs realize results in as little as three years from inception, it generally takes seven to 10 years to receive current dollars for your organization.

Think Comprehensively
Oftentimes nonprofits claim that implementing a focus on estate giving will detract from securing resources to meet today's needs. The reality is that donors who make estate gifts to ensure the long-term viability of an organization often feel that supporting current needs through major and annual gifts reaffirms their estate commitments.

Strengthen Annual Giving
Creating a stellar annual giving program leads to a strong estate giving program. Stakeholders often will create an estate gift if they have supported your ongoing operating needs.

Educate Staff
While the complexities of estate giving instruments are explored among the donors and their financial planners, donors typically first hear about these tools through development professionals - staff must be educated.

Embrace Knowledge
Encourage your Board to create long-term objectives, gift acceptance policies and communications tools for your estate giving program. Engage a mentor experienced in the field, subscribe to e-mail discussion forums and partner with a qualified estate giving consultant to structure a program specific to your organization's needs. Also, establishing alliances with professional gift and estate planners in your region is a must.

An estate giving program is only one facet of your organization's development strategy, but a strong commitment to such will create worthwhile results for your organization well into the future.

- Lonelle R. Rathje, MA, Senior Vice President (Kansas City, Mo.)

Another Smart Idea...From the Hartsook Best Practices Collection^SM

"Create an informal coalition of executive directors and fundraisers in your city to share ideas and challenges. It's easy to set up a list serve where you can post questions to each other."- Marisa Galick, Joy of Music School (Knoxville, TN)

If you are interested in Best Practices and smart ideas, see these additional resources from Hartsook Companies:

Getting Your Ducks in a Row! . . . Proven Strategies for Exceeding Your Capital, Endowment and Operating Campaign Goals. No development officer should be without this book. Bob Hartsook's guide brings together outstanding authors and sources providing a tool box of strategies for effective campaign fundraising. Each page is filled with ideas, concepts, plans, strategies, approaches and suggestions that result in success. Available for $19.95 (plus $3 S&H) through ASR Philanthropic Publishing by calling toll-free 1-866-630-8500.
"Best Practices Coast to Coast^SM," a compilation of best practices from every state in the union.
"Hartsook Best Practices Collection^SM," our original collection of 250 best practices and great ideas.

For a free copy of "Best Practices Coast to Coast" or the "Hartsook Best Practices Collection", please email Tammy Weinman, tammy@hartsookcompanies.com, or visit our web site at http://www.hartsookcompanies.com/index.php?PAGE_ID=141. We also invite you to contribute your own best practice by emailing Tami Druzba, tami@hartsookcompanies.com.

Career Booster!

Looking for ways to invest in your organization's future? Join us for a seminar packed with valuable fundraising strategies! Whether you're on the West coast, East coast or somewhere in between, mark your calendar to participate in the Hartsook Companies, Inc. Fall Seminar Series:

Friday, October 3, 2008 - Santa Barbara, Calif.
Friday, October 3, 2008 - Detroit, Mich.
Friday, October 17, 2008 - Raleigh, N.C.

This full-day seminar provides an opportunity for you to learn from some of our top consultants; network with fellow fundraisers, nonprofit professionals and volunteers; and gather valuable ideas you can implement immediately. Email tammy@hartsookcompanies.com for more information or visit the Hartsook Companies website at www.hartsookcompanies.com.

Visit the Hartsook Companies web site for:

• Educational opportunities
• Books/reference articles
• Conference/workshop speakers

Strategies for Success explores smart ideas, connecting with more than 1,500 fundraising professionals bi-weekly. We welcome your contributions or comments. Send to Strategies for Success and eHartsook Editor Karin Cox, MFA, Senior Vice President, kcox@hartsookcompanies.com. If you'd like a free subscription to Strategies for Success - or its monthly companion, eHartsook on Philanthropy - contact Tammy Weinman, tammy@hartsookcompanies.com. You also can reach her at 316.630.9992.

Our web site is located at http://www.hartsookcompanies.com.