Working with today’s philanthropists, we know they want to be involved with giving and ensure that their gifts are having impact on their communities. How then can we attract gifts from individuals that fulfill this desire, yet are flexible so that the organization can use them now and in the future? Here are some suggestions.
Develop a leader/advocate who knows the importance of funds that can be used for unknown needs and opportunities of the future. The leader/advocate could be a Board member, committee volunteer, or donor who leads by example by making an unrestricted gift. The abstract becomes real through the leader’s actions. “Do as I do, not just as I say” is powerful.
Illustrate the power of flexibility with stories of “what-if’s” and “if
not for’s.” Nothing communicates the value of flexible resources
and the impact they can have better than linking the visionary donor of the
past with the recent program that is making modern day life better. Stress
and re-stress the time-
honored attributes of gift perpetuity, legacy and knowledgeable investments
based on relevant information now and in the future.
Include a “discovery” process in your work with new (and old) donors. Train your staff and volunteers in the art of questioning and listening to uncover the motivations and wishes of your donors. A conversation or two with a donor could turn what started out as a scholarship fund into a broadly defined fund for the “support and education of children.” Discovery continues after the first gift, too. The second and third gifts come from informing and engaging the donor about the difference their giving made.
Educate advisors about the full range of vehicles available to their clients. Work with those advisors who have demonstrated their own commitment to your institution or community because they will understand the value of flexibility and are more likely to recommend these funds to their clients, with both lifetime and estate gifts.
Be patient. As with most things of value, building flexible funds takes time. But it is worth the effort.
HOME | ABOUT | SERVICES | CLIENTS | RESOURCES | WORKROOM |
Copyright © 2005 Ekstrom & Associates
