Planned giving is a form of charitable giving that involves contributing one's assets through wills and estate plans. A planned gift is a gift to enhance our mission and work into the future. It’s a lot like preserving an item today so someone can enjoy it in the future.
Planned giving is one of our priorities for a number of reasons, some of which are:
- Planned giving offers the greatest opportunity for individuals to make a large gift to an organization, often referred to as an “ultimate gift,” Planned gifts can help donors accomplish more through their giving than they imagine is possible.
- When a continual focus on identifying and cultivating individuals close to your organization for the purpose of maximizing giving is in place, planned giving conversations are a natural step in building relationships.
The best planned giving prospects are those who are and have been actively involved with the program either through their volunteering as a UC Master Food Preserver or by regularly attending public events and workshops!
Planned giving is not just for the elderly! Chances are that older people have already completed their wills or trusts, and estate plans. Think about prospects who are in their 50s and 60s. They often are just beginning to think seriously about estate planning.
Here are some obvious - and not so obvious - signs that a person might be an excellent planned giving prospect. Look for these “clues”.
- No children or close relatives
- Children are doing extremely well in their chosen careers, and prospect doesn’t have to worry about providing for them
- Widow/widower having outlived a spouse
- Single females over 65
- Some of the prospects’ assets have greatly appreciated, and prospects do not want to pay the capital gains
- Person has some assets that may bring some heavy taxation
- Prospect’s advisor mentioned getting assets out of the estate
- Person heard about planned giving to other charities & wants to know how that might be beneficial to the UC Master Food Preserver Program—local and/or statewide
Types of Planned Gifts:
Will and Trusts
Some examples of the types of bequests:
- A general bequest is one of the most popular ways to make a charitable gift. The donor simply leaves a specific dollar amount to the UC Master Food Preserver Program.
- A residuary bequest is given to the UC Master Food Preserver Program after all (or a portion) of an estate owner’s debts, taxes, expenses and other bequests have been paid.
- A percentage bequest is expressed as a percentage of the estate or of the residuary estate.
Donors work with an attorney and/or financial advisor to determine the bequest amount. Our job is to work with the donor to explain our areas of need to ensure that the donor’s desires are met and our needs are met. It is helpful to advise the donor to be as broad as possible in language of his or her bequest. Sample UC system bequest language is available on our website.
Life Insurance
Donors can contribute all or part of a policy to the UC Master Food Preserver Program when we are named as a beneficiary. The donor retains ownership of the policy and has access to the policy’s cash value. Since the donor retains ownership, no charitable income tax deduction is allowed upon making the UC Master Food Preserver Program the beneficiary. Once the donor passes away and the proceeds are paid to the UC Master Food Preserver Program, the donor’s estate will be allowed a charitable estate-tax deduction.
Donors need to work with their insurance provider to designate the UC Master Food Preserver Program as the beneficiary. There is typically a Beneficiary section that the owner of the policy completes.
Retirement Plans
Retirement plans are an easy way for a donor to make a planned gift. Retirement plan benefits represent a major portion of the average person’s estate. Through the retirement plan provider, a donor can designate the UC Master Food Preserver Program as a full or partial beneficiary. The donor can name a specific amount or percentage of the plan’s total. This gift can be designated when the fund is first established or changed at a later date. The plan administrator will provide a change of beneficiary form upon request. Giving in this way can help maximize tax savings.
Making Your Case for Support
Making the Ask - Some ideas for starting the conversation
- “Your annual gifts make such a difference to the UC Master Food Preserver Program, have you considered leaving a planned gift to the program?”
- “Would you consider including the UC Master Food Preserver Program in your estate plans?”
- “After you’ve taken care of your family, would you consider leaving the UC Master Food Preserver Program a bequest in your will?”
- “Are we already in your estate plans?”
Elevator Pitches - Getting the Conversation Started
An “elevator pitch” is a conversation starter, not an entire sales pitch. It is concise, compelling and told in terms that anyone should understand. (It’s called an elevator pitch because it only takes as long as an elevator ride.) The language is informal and to-the-point. You need to have an elevator pitch ready when it comes to your planned giving program. Here are a few examples:
- “Your support of the UC Master Food Preserver Program could be as easy as a simple designation in your will. It won’t affect your cash flow during your lifetime and can be revoked or amended if your situation changes.”
- “Do you realize that you can make a gift to the UC Master Food Preserver Program by designating the program as a beneficiary of your life insurance policy?”
- “Retirement funds can be heavily taxed if passed on to your heirs. They may be tax free if given to the UC Master Food Preserver Program.”
Catch a reader's eye and their attention
Include a tag line in your communications-- Here are a few examples:
- Have you considered leaving a gift to the UC Master Food Preserver Program in your will?
- Leave a legacy for the UC Master Food Preserver Program—Preserve our Program
- Use the present to invest in the UC Master Food Preserver program’s future
- Tomorrow’s activities are created by today’s dreamers— You can make sure that the UC Master Food Preserver Program is still working to help future generations of Californians through your support today.
Questions? Contact:
Sue Mosbacher
Program Manager
smosbacher@ucanr.edu
530-621-5543
Planned Giving Resources:
- Planned Giving (PDF)
- UC ANR Development Services (Web)