Millennials and Generation Z are already focused on retirement, and 30% of them are setting their sights on becoming millionaires to achieve their goals. What this means for you and other charitable organizations is that it’s likely a smart move to expand your planned giving outreach strategies to include younger donors, as well as the traditional audience of generations who are retired or approaching retirement. Indeed, many of your younger donors are increasingly becoming investment savvy and will understand the value of planning ahead.
Because younger generations are often motivated to give online and inspired by social media, your planned giving strategies should be tailored accordingly. Many planned giving techniques are complex, which is understandable considering the various legal and tax considerations that factor into structuring a bequest, charitable remainder trust, or beneficiary designation of a retirement plan or life insurance policy.
Kitsap Community Foundation stands ready to help you promote planned giving to your friends! We have recently partnered with FreeWill.com and offer a new service for Kitsap nonprofit donors and volunteers to create their legal will for free. Check it out at FreeWill.com/kitsapfoundation.
January is a great time to remind your donors and volunteers about the importance of having a legal will and promote bequests for your cause.
Below is some sample language for an promotional email:
As you list your New Year's resolutions, have you considered the lasting footprint of an updated estate plan? January is an ideal time to ensure your intentions are clearly penned for the years to come. To help you get started, we’ve partnered with Kitsap Community Foundation who is now offering a free online estate-planning tool. In just 20 minutes, you can easily and comprehensively plan for the people, causes, and treasures closest to your heart.
Giving yourself certainty and your loved ones clarity is a resolution worth keeping. Designating guardians for children, allocating assets, or simply documenting your health care choices are all resolutions worth keeping.
As you create your will, please consider making a bequest to [Organization]. A gift through your estate will ensure that the mission you support will endure.
Below is sample language for a social media post:
Have you made a resolution to create your will in 2024 to protect the people and causes you love? We’re partnering with Kitsap Community Foundation who is now offering a free online estate-planning tool for our donors and volunteers. In just 20 minutes, you can easily and comprehensively plan for the people, causes, and treasures closest to your heart.
Please take this opportunity to create your will for free, and as you do, please consider making a gift to our organization and leaving a lasting impact.
A few other tips for January planned giving communications
Try to do whatever you can to keep your language and promotional materials simple to match the preferences of youraudience and the channels where they receive information. For example:
When you use social media, try to keep your language short, sweet, and to the point. Instead of throwing out terms such as “bequest” and “charitable remainder trust,” tap into younger generations’ motivation to make a “lasting impact” by “getting organized” and “planning ahead.”
You can appeal to younger generations’ desire to be financially savvy by referencing various ways a young donor can use techniques to make a difference in the causes they care about and tap into tax savings strategies at the same time.
You might also consider publishing stories about younger donors to your organization who’ve already structured their estate plans to make sure they’re taking care of your organization and others they care about.
Recognize that young people may start new jobs frequently, and this gives you an excellent opportunity to mention the benefits of naming your endowment fund at Kitsap Community Foundation as the beneficiary of an employer-sponsored 401(k) plan or rollover IRA.
As always, please don’t hesitate to reach out to the team at the Kitsap Community Foundation for any reason. We are here to help you grow your endowment and reserve funds in whatever way we can to keep your mission strong and thriving for generations to come in our community.