The topic of planned giving is boring even to fundraisers. It can require a lot of legal infrastructure, it requires talking to donors about end of life choices, which is never an easy discussion, and nonprofits may not see income for years after setting up a planned giving program. JRP’s planned giving specialist, Tom Petersmeyer, jokes that nonprofits always leave planned giving work until late Friday afternoons, because it’s such a low priority. But the Rose Bowl Aquatics Center (rosebowlaquatics.com) has risen to the challenge of setting up a planned giving program and Tom will start consulting with them soon!
Despite the unpleasantness involved, established nonprofits should have a planned giving program. At the very least, nonprofits should provide language for donors to put into their will. Larger nonprofits should include conversations about bequests, annuities and other planned giving opportunities in their materials and in conversations with dedicated donors.
If you are still reading this post (I even fell asleep briefly writing it =), you should make sure that you have a nonprofit listed in your will, at the very least as the last resort beneficiary, in case all other beneficiaries are deceased. Larger nonprofits will have the correct language to use in your will, or a planned giving representative to talk about planned giving options. Smaller nonprofits may generally don’t have this information, but including the official name of the nonprofit and their address in your will should suffice. You end-of-life donation will help a nonprofit for years after you’re gone.
If you know a nonprofit that can use help setting up a planned giving program, please contact Melanie at 626-714-7234 or MGoodyear@JRPasadena.org. If you would like help creating a will including JRP or another nonprofit in it, contact Kristen Terranova at CMDB (cmdblaw.com).