As a new fundraising professional, mastering the concept of bequests is crucial for enhancing your organization’s ability to secure significant future support. Bequests are a powerful tool for donors wishing to make impactful contributions without affecting their current financial situation. Here's an in-depth look at bequests and how Foundation Enhancement Solutions (FES) can play a vital role in optimizing this form of giving.
What is a Bequest?
A bequest is a charitable gift specified in a donor’s will or estate plan, designated to be given to a nonprofit or university after their death. This type of donation allows individuals to support a cause they are passionate about while retaining control over their assets during their lifetime. Bequests can provide essential funding that supports long-term projects and initiatives, making them a valuable component of any fundraising strategy.
Types of Bequests:
1. Specific Bequest: A designated amount or specific asset given to your organization, such as $100,000 or a piece of property.
2. Residual Bequest: The remainder of an estate after all debts, expenses, and specific bequests are settled, allocated to your organization.
3. Contingent Bequest: A gift made to your organization only if certain conditions are met, such as the donor’s family members not surviving them.
4. Percentage Bequest: A percentage of the donor’s estate or a particular asset given to your organization, which adjusts based on the estate’s total size.
Why Bequests Matter
Bequests are crucial because they offer a way for donors to contribute significantly to your organization’s mission without immediate financial strain. They enable substantial future support, helping your organization fund long-term initiatives and achieve its goals.
New Bequest Process and Products
Foundation Enhancement Solutions (FES) specializes in planned giving strategies that allow donors to make substantially larger contribution without impacting their current finances.
By structuring these gifts through their estate, donors can greatly enhance their charitable impact while preserving their assets for their beneficiaries. This strategic approach not only provides nonprofits with a significant boost in funding but also allows donors to enjoy recognition for their generosity during their lifetime.
Moreover, FES’s strategies facilitate earlier access to funds for nonprofits, rather than waiting for the donor’s estate to be settled.
This proactive access to increased resources enables institutions to plan and invest in various programs and initiatives more effectively. Meanwhile, donors experience the satisfaction of seeing their contributions make a meaningful difference while maintaining financial security for their loved ones.
How FES Can Assist
Navigating the complexities of bequests can be challenging, especially for those new to fundraising. Foundation Enhancement Solutions (FES) offers expert support to streamline and enhance the bequest process. Our services include:
- Expert Guidance: We provide tailored advice on integrating bequests into your fundraising strategy and effectively communicating their benefits to potential donors.
- Donor Support: FES manages the administrative aspects of bequests, ensuring that gifts are processed smoothly and in accordance with the donor’s intentions.
- Customized Solutions: We offer personalized services to meet the unique needs of your organization and donors, including the creation of specialized bequest documentation.
- Streamlined Transactions: Our team handles the technical details, allowing you to focus on building donor relationships while ensuring that the bequest process is efficient and compliant with legal requirements.
- Marketing Collateral: We supply branded materials to help convey the value of bequests and planned giving to potential donors effectively.
Get Started with FES
If you’re interested in leveraging the potential of bequests to enhance your organization’s fundraising efforts, contact Foundation Enhancement Solutions today. We’re here to support you in understanding, managing, and promoting bequests, ensuring that both your organization and donors can maximize the impact of these generous gifts.
Reach out to FES to discover how we can assist with bequests and help you achieve your fundraising objectives. Together, we can secure a brighter future for your organization and the causes you support.
Craig, Joe or Reed would be happy to assist you. Phone 904-788-0666 Email info@501strategy.com