Bequest giving was down. Does it matter?

No doubt you’ve seen the news that bequest giving declined by 4.4% in 2024, according to the just-released Giving USA report. As a nonprofit professional, though, you know that bequest giving is inherently volatile. Indeed, despite the volatility, bequests still accounted for 8% of total charitable giving, underscoring their significance for long-term funding strategies. We are in the middle of a historic transfer of wealth in Kitsap and it is essential to continue the drip-drip planned giving marketing going.

You’ve likely seen the headline: bequest giving declined by 4.4% in 2024, according to the newly released Giving USA report.

As nonprofit professionals, we understand that bequest giving is inherently volatile—fluctuating year to year based on estate settlement timing and economic factors. Even so, bequests still made up 8% of total charitable giving last year, highlighting their continued importance in long-term funding strategies.

Here in Kitsap, we’re in the midst of a historic transfer of wealth. That makes it all the more critical to keep up our steady, consistent efforts—what some call “drip-drip” marketing—for planned giving. These small but persistent messages help ensure that charitable bequests remain top of mind for donors as they plan their legacies.

At Kitsap Community Foundation, we work with nonprofit organizations every single day to help support your efforts to build endowments and attract long-term funding from donors to sustain your mission in perpetuity. In many cases, we do this by administering a nonprofit’s endowment or reserve fund. In other cases, we help nonprofits accept complex gifts from donors, such as real estate or closely-held stock. In all cases, we are very aware of the fundraising environment and how important it is to you–and your board–to keep donor support flowing through annual gifts, major gifts, and legacy gifts.

Here are three key takeaways from the Giving USA report, which you might consider sharing with your board:

• Nonprofits should continue to prioritize individual donor engagement, as individuals remain the backbone of U.S. philanthropy.

• Economic conditions, especially stock market performance, have a significant impact on giving—monitoring these trends can help with planning and forecasting.

• Bequest giving is still a major component of fundraising, and although the results can be unpredictable from year to year, a focus on planned giving will deliver strong results in the long term.

As always, the team at Kitsap Community Foundation is here to help! Please reach out. We are happy to arrange a presentation at one of your upcoming board meetings to share best practices for planned giving programs, tips for encouraging donors to leave a legacy to your endowment fund, and factors to keep in mind as you launch efforts to attract gifts of nontraditional assets such as real estate and closely-held stock. We are here for you!