Planned Giving Best Practices by hcj

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									Planned Giving Best
Practices
Memorial Sloan-Kettering
Cancer Center


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                          Memorial Sloan-Kettering Cancer Center




MSKCC Planned Giving
 Consistent planned giving marketing and
  growth for 20 years
 16 staff members, including staff
  dedicated to stewardship and to
  administration
 Annual income $30 – $60 million
 15+ mailings per year
 Over 3,300 inquiries per year
 650 open estates at any given time
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                                Memorial Sloan-Kettering Cancer Center




Start With Your Donor Base
   Clean it up. Saves a lot of money.
   Do merge/purge (multiple lists and for your
    database).
   Check for and remove deceased donors. Start
    with a clean up back to beginning of file. MSK
    then does it monthly.
   US Postal Service requires NCOA to be done 95
    days before each bulk mailing. Bring updated
    NCOA information into your database for
    acknowledgments, etc.


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                            Memorial Sloan-Kettering Cancer Center




To Whom Are You Mailing?
 Age – focus on older donors
 Do age overlay annually
 Commitment – recency, frequency and
  number of gifts
 Wills – want to be in donor’s LAST will
 Gift annuities – those with life expectancy
  of ten years or less

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                                 Memorial Sloan-Kettering Cancer Center




Marketing Plan
   Marketing Plan at beginning of fiscal year
     Try  to schedule mailings so they don’t conflict
      with others by your organization
     Adapt to external factors
     Incorporate analysis of prior years’ results –
      use what works
     Record and keep as much data as you can
      during the year; it’s useful, especially for
      justifying your program.
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                                  Memorial Sloan-Kettering Cancer Center




Marketing Materials
 Remember to whom you are mailing
 Older donors like:


    Large           print
     Black print on white background, not this
     No shiny paper
     Classic font – not too modern or hard to read
     Pictures   they can relate to…
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           Memorial Sloan-Kettering Cancer Center




Not this




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                   Memorial Sloan-Kettering Cancer Center




Nothing too racy




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                        Memorial Sloan-Kettering Cancer Center




This is more like it.




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                           Memorial Sloan-Kettering Cancer Center




Pictures of Your Organization
   Remember medical can be scary




      Yes.


                         No.

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                                 Memorial Sloan-Kettering Cancer Center




Besides the brochure…
   Donor testimonial letters
     Keep control of the process
     Keep it as positive as possible

   Reply Cards
     Use postage paid BRE for them if possible
     Use source codes for tracking




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                 Memorial Sloan-Kettering Cancer Center




Reply Card Example




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                           Memorial Sloan-Kettering Cancer Center




Follow Up
 Get response out quickly
 Have clear, standard proposals for a
  variety of gifts
 Include disclosure information required by
  law
 Do follow up calls in a timely fashion –
  three weeks after letter/proposal sent
 Thank, thank, thank
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                                   Memorial Sloan-Kettering Cancer Center


Closing the Gift/Handling a
Bequest Notification
   Did I mention thank, thank, thank?
   Immediately hook up with person doing
    stewardship
   Don’t drop the ball on agreements, tax letter, etc.
    for life income gifts
   Find as good an administrator as you can for gift
    annuity and pooled income fund programs
   Can be counterproductive to ask “How much are
    we getting?”

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              Memorial Sloan-Kettering Cancer Center



Stewardship




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                                    Memorial Sloan-Kettering Cancer Center




Stewardship
   Qualities of a steward
     A “people” person; must   like senior citizens
     Flexible, enjoy travel
   Regular visits result in larger bequests and
    more life income gifts
   Donor recognition society
   Events
     Tailor event to your organization’s strengths
     Can include prospects at larger events


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                           Memorial Sloan-Kettering Cancer Center




Trusts and Estates
 Lucky if administration is within
  Development
 Have an attorney on retainer or trained in-
  house counsel review; avoid pro bono
 Consistent follow up. Marketing and
  stewardship efforts are wasted if you don’t
  collect what is due from an estate.
 Trust and Estate Advisory Committees are
  a nice extra
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                           Memorial Sloan-Kettering Cancer Center




Analysis
 Track your results consistently. Need to
  do it awhile to see trends.
 Do a retrospective analysis of who makes
  planned gifts. Incorporate what you learn
  into your marketing plan.
 Test one change at a time




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                                 Memorial Sloan-Kettering Cancer Center




Management
   How to hire a good staff
     Choose   people skills over technical
     Be flexible about experience
     The intangibles…




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                               Memorial Sloan-Kettering Cancer Center




Training
 Critical to keep up with what’s going on in
  planned giving
 Try webinars in budget conscious times
 Other topics can be helpful
     Agingand dementia issues
     Donor visit best practices




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                               Memorial Sloan-Kettering Cancer Center


Memorial Sloan-Kettering
Cancer Center (MSK)
 Maintains separate departments for
  Planned Giving, Annual Giving, Major
  Gifts, Direct Mail, etc.
 In 2008
     Processed  913,985 gifts
     Brought in $315,500,000 in cash
     Received $265,211,215 in gifts & pledges


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                      Memorial Sloan-Kettering Cancer Center




MSK Planned Giving Facts

 80% of PG donors have gift history
 15% of gifts are from patients




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                          Memorial Sloan-Kettering Cancer Center


What Makes Planned Giving at
MSK Successful?
 Planned Giving is the largest department
  in development
 Planned Giving is integrated with Direct
  Mail, Annual Gifts and Major Gifts




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                                   Memorial Sloan-Kettering Cancer Center


How do we integrate?
 Direct  Mail acts as base: focus on
  cultivating Planned Giving donors
 Movement up pyramid = less
  focus on planned gifts, but
  continued attention
 Mass Mailings Consistent
     Direct Mail ensures Planned
      Giving Information Request
      Check Boxes on every DM
      solicitation
 Target acquisition of donors 70
  and older
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                            Memorial Sloan-Kettering Cancer Center




Direct Mail
 Considers age of donor and potential for
  planned gift rather than just income to DM
  program
 Facilitates concentrated effort to bring in
  donors over 70 years old




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                               Memorial Sloan-Kettering Cancer Center




Direct Mail-PG Facts
   Of the 1,805 trusts/estates closed since 2001,
    66% first gave to MSK as a Direct Mail Donor
   Single largest source of bequest notifications
   13% of DM pieces mailed in 2008 sent to bring
    on potential Planned Giving Donors




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                            Memorial Sloan-Kettering Cancer Center


Example – Adele B.
 Retired NYC public school teacher and
  cancer survivor with relatives treated MSK
 Made first DM gift of $25 to MSK in 1993
 Notified in will and retirement plan in 1998
 Regularly visited by PG staff and attended
  bi-annual PG luncheons
 Made DM gifts in $25 range 1-3/year until
  2006 and died in 2007
 Received $500,000 bequest and $2,700
  from retirement plan                                        27
                                            Memorial Sloan-Kettering Cancer Center




Direct Mail-PG Stewardship
   Print size, paper type, etc. of mailings carefully considered in
    partnership with Planned Giving
   Majority of contacts with potential Planned Giving donors through
    Direct Mail solicitations
   DM and Planned Giving work closely to make sure DM solicits
    donors that fit PG profile on a regular basis regardless of giving
    history
   These donors mailed at least 3 times a year in renewal program
    even if they have fallen out of the mail plan
   Donors who have notified MSK that we are included in their estate
    plans receive every Newsletter and mailing



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                                            Memorial Sloan-Kettering Cancer Center




    Annual Giving
   Extensive phone and mail outreach to donors making gifts $1,000 or
    more
   Ulitmate goal: migrate donors to Major Giving or uncover Planned
    Giving prospects




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                                            Memorial Sloan-Kettering Cancer Center




Annual Giving-PG Stewardship
   Annual Giving Officers encouraged to attend “Introduction to
    Planned Giving” conference
      Furthers understanding of Planned Giving and ability to pick up
        cues when making personal contact with donors
   Planned Giving and Annual Giving work in partnership on donor
    cultivation events
   When donors with potential Planned Giving inclination discovered,
    Annual Giving Officer works directly with Planned Giving to provide
    information about different giving vehicles




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                            Memorial Sloan-Kettering Cancer Center




Major Gifts
 Multi-point personalized outreach to solicit
  and close outright gifts of $50,000+
 Works with Planned Giving to maximize
  donor support both through outright major
  gifts and planned giving vehicles




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                         Memorial Sloan-Kettering Cancer Center



Major Gifts-PG Facts
In 2008
 over 2000 potential Major Gift Donors
  contacted
 $1,711,483.05 in bequests from former
  MG donors




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                                              Memorial Sloan-Kettering Cancer Center




Major Gifts-PG Stewardship
   Major Gift Officers have extensive training in gift planning vehicles,
    and work closely with Planned Giving team to identify PG
    opportunities
          Getting Past “No”: If prospect is reluctant to make an outright
            gift, planned gift is another fundraising tool
   Planned Giving and Major Gifts work in partnership to produce
    effective donor cultivation events
   Upselling of current Planned Giving donors to maximize outright
    giving activity
   Customized PG mailings reach high-end MG donors within target
    age range



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