Corporate philanthropy increased to more than $36 billion according to recently-reported statistics, and although it represents the smallest share of total giving compared to other sources, your planned giving strategy should not overlook the corporate angle, especially as it relates to building your endowment fund at Kitsap Community Foundation. If you’re not careful, you may leave money on the table!
Here are five reasons you should involve corporate executives in your planned giving outreach:
They’ve got big potential. Corporate executives often have significant wealth that could translate into sizable planned gifts for your endowment fund. Executives’ capacity to give through estate plans or other planned giving vehicles may far exceed what they can donate annually from income. Many executives may not yet have considered planned giving options because they are not familiar with the wide range of options.
They like tax benefits. Executives tend to be very tuned into tax strategies. And of course, planned gifts can offer substantial tax advantages for executives and other high-net worth individuals. It’s always worth mentioning how planned giving could reduce a tax burden while also supporting your organization. An executive may not realize, for example, that leaving a gift to your organization’s endowment fund at Kitsap Community Foundation via an IRA beneficiary designation avoids both estate tax and income tax.
Legacies could be their thing. Many executives are interested in creating a lasting legacy, especially if they’ve dedicated their careers to building a company with a strong local presence. Planned gifts to your endowment fund at Kitsap Community Foundation allow executives to make a major impact through a cause that aligns with their personal and corporate values.
They lead by example. One of the hallmarks of respected executives is, of course, leadership. Many executives have spent their careers leading by example. When executives make planned gifts, it can inspire and encourage others in the company–and executives in other companies–to consider similar donations. And of course, their participation lends credibility to your organization and endowment fund.
They want to help. Executives often have valuable professional expertise and networks that could benefit your organization beyond financial contributions. Engaging executives in planned giving discussions may lead to other forms of involvement, or at the very least, deepen their ongoing advocacy for your organization. Plus, an executive's personal planned gift could complement or enhance a company's existing corporate philanthropy efforts, aligning the company even more deeply with your organization.
Please reach out to the team at Kitsap Community Foundation to discuss these ideas and more! It’s our pleasure to help you engage corporate executives in planned giving discussions. We’re excited about helping you cultivate transformational gifts to your endowment fund that can pave the way for your mission’s future.
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