As you prepare your FY22 budget, I know it’s not easy to decide where to invest in efforts that will boost your fundraising.
But I’ve done some math that should help you make the case to your nonprofit’s leadership and board that your next budget year is the right time to invest in Planned Giving.
I started with an important number: $35,000.
That’s the average charitable bequest commitment in the U.S.
My experience tells me when you actively and consistently market Planned Giving to your best prospects, between 3% and 5% of them will make a commitment within 10 years.
So, if you have 250 Planned Giving prospects in your pipeline, you can reasonably expect to get between 7.5 and 12.5 commitments if you consistently market and discuss Planned Giving options with these potential donors.
When you multiply those numbers by that magic $35,000 number, you can reasonably expect commitments totaling between $263,000 and $438,000 over 10 years.
If you’re a larger organization with 1,000 prospects, that range grows to between $1 million and $1.75 million. (Remember, these are commitments, not cash.)
It’s simple math with a powerful result.
A modest investment in getting your Planned Giving program going into FY22 will pay big dividends well into the future.
I’m on a mission to create 1,000+ new Planned Giving programs in the U.S. You can join me—at a very affordable tuition.
Our next class starts July 1. If you sign up for Planned Giving Accelerator between now and June 30, you’ll get access to a special, early-bird rate.