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Legacy Giving with Julia Magnuson-Ford of PG Growth, Ep #27

Ben Johnson
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Episode 27

With Benjamin Johnson & Julia Magnuson-Ford

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Do charities need legacy giving strategies? Spoiler alert: YES! On this episode of Frontier FM, Ben is joined by Julia Magnuson-Ford to discuss some of the best practices for effective legacy giving cultivation and the conversations fundraisers can’t afford to avoid.

You will want to hear this episode if you are interested in...

  • Getting to know Julia Magnuson-Ford [1:04]

  • What it means to outsource legacy giving [4:42]

  • Uncomplicating legacy giving [6:39]

  • Developing a legacy giving strategy [13:32]

  • Keeping a donor centric attitude towards legacy giving [18:37]

  • Teaching generosity and staying connected as an organization [25:01]

Keep legacy giving simple

Too many organizations have an overcomplicated view of legacy giving. This often results in a “hands-off” approach that ultimately leaves a lot of money on the table and out of the charity’s hands. Julia encourages fundraisers to keep legacy giving simple through a willingness to “have the conversation”. Don’t be afraid to talk about it! Engage donors in the process of what’s important to them. Death can be a difficult subject to talk about, but it’s a reality for older donors who may already be thinking about the legacy they will leave behind. The best way to honor them is by having the conversation now to make sure their exact wishes are fulfilled once they’re gone.

Develop a legacy giving strategy

Legacy giving should be an extension of existing donor relationships. Donors give consistently because of how an organization cultivates and maintains a relationship with them. Therefore the best legacy giving strategy is one that looks to annual and monthly donors first. If someone consistently gives to a charity for 20 years there is a good chance that they will want to leave a legacy gift as well. Organizations should also be prepared when donors do leave a large parting gift for the cause. The somewhat surprise nature of legacy giving can easily blow a team’s yearly budget if they’re not ready for it. That’s why it’s important to put a plan in place NOW before tensions are high. Having an effective legacy giving strategy turns a legacy gift into a question of IF, not WHEN, so be prepared!

Stay passionate and connected

At the end of the day, fundraising is largely about people. People helping people. People learning to be generous. People impacting the world around them through worthy causes. Legacy giving shouldn’t be any different! Having a donor-centric mindset when it comes to legacy giving will help organizations stay connected to what matters most. Donors want to know that they can make a difference with a legacy gift. Ask them what they are passionate about and how they would want their gift to be used. Show them what the charity’s plans are for the next 20 years and that they’ll be ready to receive the donor’s gift when the time comes. Ben reminds the listener that it’s not always the most famous organizations that get legacy gifts, but the most connected and passionate ones. 

Resources & People Mentioned

Connect with Julia Magnuson-Ford

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