The following points underscore the necessity behind initiating or enhancing a Planned Giving program (PG) at your institution:
The past 15 years have been the most massive period of private wealth generation in history.
In 2004, the estimated number of people having a net worth of $3.5 million or more was over 8 million.
Two-thirds of millionaires own their own businesses.
89% of affluent business owners are from “poor” or “middle class” backgrounds.
By the year 2047, over $47 trillion will be inter-generationally transferred.
Six out of every 10 adults die without a will or trust.
Over the past 10 years, gift planning substantially increased as a percentage of overall giving.
Over 50% of the revenue of charitable organizations with over five years of experience and complete development programs comes through planned giving.
Most estates are dissipated within 7 years after death of the decedent, due to lack of good management.
According to the Rockefeller Foundation, fewer than 15% of those individuals capable of making large gifts have ever been asked.
95% of people in the U.S. own life insurance.
Planned Giving Components
Reduced to its essentials, a successful Planned Giving program is a service-oriented program that gives the opportunity for an individual to arrange their estate in a way that will meet their financial needs, while at the same time assisting the college to fulfill its mission. A fundamental principle of successful gift-planning programs is long range commitment by the college. All involved must understand and support the unique requirements of a gift-planning program to achieve the following goals:
Three-year goal
Ten-year goal
Twenty-five-year goal
Requirements for a successful planned giving program:
A worthy, highly-regarded institution
Administrative commitment
A realistic budget
A qualified, well-trained director of gift planning
A committed, trained, and influential foundation committee/advisory board
A prospect research and tracking system
A plan of action
Sound management
Patience
The Four “A’s” of Gift Completion
Ask
Acknowledge
Appreciate
Account
For additional information on the planned giving program service, please send inquiries via email to Amy Pollock, Associate Vice-President of Programs and Services: apollock@clmgroup.com.
