Legacy gifts are among the most impactful contributions your nonprofit can receive. Most donor pyramid models put planned gifts at or near the top, even above major contributions from repeat donors. Plus, bequests (the most common type of legacy gift) make up nearly 10% of the entire charitable giving landscape and are growing in their combined value, according to Giving USA 2024.
If your organization doesn’t have a solid strategy for soliciting and managing planned gifts, now is the time to create one! One of the keys to a successful legacy giving program is building strong donor relationships. Stewardship is especially important with planned gift donors, since their pledge and actual gift can be years apart.
In this guide, we’ll walk through four strategies for showing gratitude to legacy donors and retaining their lifelong support. Let’s dive in!
1. Thank Donors Promptly After Their Pledge
In some cases, your nonprofit won’t know that a donor made a planned gift until you receive it. However, with the rise of dedicated legacy giving programs and a greater emphasis on transparency in the nonprofit sector, it’s becoming increasingly common for organizations to find out about planned gifts well in advance.
Within two business days of learning that a donor has pledged a legacy gift to your nonprofit, kick off the stewardship process with a personal phone call or email to confirm you know about the pledge and say a first thank-you for it. But your appreciation shouldn’t stop there—according to Winspire’s donor stewardship guide, “When choosing recognition methods…the size of your nonprofit’s thank-you should match the size of the donor’s gift.”
Because planned gifts are typically large, recognize legacy donors similarly to your nonprofit’s major donors by doing one or more of the following:
- Creating a section for planned gift donors in the list of high-impact contributors in your annual report.
- Telling individual legacy donors’ stories on your organization’s social media accounts.
- Inviting them to a donor appreciation dinner or shouting them out at another event like a gala or auction.
- Including their names on a donor wall, award plaque, or other public-facing display of recognition.
Some legacy donors may prefer to remain anonymous to the public, and you should honor their wishes if they do—handwritten notes and tangible gifts are great appreciation alternatives. But by recognizing as many donors as possible, you can inspire even more supporters to make planned gifts to your nonprofit.
2. Establish a Regular Communication Cadence
After you thank legacy donors, don’t let them forget about your nonprofit! Instead, cultivate increased loyalty by developing a tailored, regular communication cadence for each planned gift donor. Here are a few strategies for making this happen:
- Use the donor’s preferred communication channel(s), which might include email, text messaging, phone calls, or recurring meetings with one of your organization’s leaders.
- Update them on your nonprofit’s impact, ideally focusing on the projects and programs they designated their gift for or are otherwise passionate about.
- Offer non-donation engagement opportunities that align with their interests, such as attending events, volunteering, or participating in advocacy initiatives.
DonorSearch recommends creating an individual profile for each legacy supporter in your nonprofit’s donor database. These tools allow you to store all of the information you gather about donors from interacting with and researching them in one place so your team can easily reference it as you plan your follow-up cadence.
3. Create a Legacy Giving Society
Giving societies are among the top retention strategies for high-impact nonprofit donors—recurring, mid-level, major, and planned. Your legacy giving society will help build community among planned gift donors by giving them a place to interact with others who share their passion for your mission. Plus, they’ll feel like an integral part of your organization and be able to connect with your staff more easily, which increases their loyalty.
Invite legacy donors into the giving society shortly after sending your initial thank-you message. Encourage them to join and stay involved by offering special member perks such as:
- A legacy giving newsletter so they can stay up-to-date on your organization’s activities.
- Exclusive branded merchandise to help them show their dedication to your nonprofit.
- Access to members-only social spaces like events, online forums, and Facebook groups.
- Early-bird registration or other markers of VIP status at fundraising events.
Once or twice a year, send out a survey to your legacy giving society members to collect feedback on what they like about the program and what they think you could do differently. Not only will you have concrete data to help you continuously improve the society, but you’ll also demonstrate that your nonprofit values its planned gift donors by giving them a platform to make their voices heard.
4. Express Appreciation to Donor Families
Especially with bequests, your nonprofit often won’t receive planned gifts until a donor has passed away. However, you should still express gratitude once your organization comes into possession of a significant amount of money or assets, and the best place to direct your appreciation is to the donor’s family.
Like with the initial pledge, reach out with your initial thank-you within two business days of receiving the donation, then follow up with a handwritten card or gift. Keep them posted on the impact of their loved one’s contribution, using data and storytelling to make your mission progress more concrete.
Additionally, remember to add the planned gift donor’s family members you communicate with to your database. While you should prioritize their loved one’s gift in your initial interactions with them, there may be a possibility to cultivate them as supporters in the future, further extending the legacy their family is leaving in partnership with your organization.
Although stewarding legacy gift donors is more involved and complex than thanking most of your nonprofit’s supporters, the payoff of lifelong engagement and significant contributions are worth all of the time and effort you put in. Keep in mind that every organization and supporter is different, so you’ll likely need to adapt the tips above to ensure your planned gift donors feel appreciated.
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Disclaimer:
This blog is for informational purposes only and is not meant as financial, legal, or tax advice. Please seek professional advice from qualified tax, legal, and/or financial professionals before making any financial decisions.
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