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the irs jim tells us that as much as 99 of america's wealth is in assets meaning it's not in cash uh other other groups say it's 90 percent so somewhere north of 90 is where the wealth is and so um it's important to understand this and become conversant in it because otherwise you're putting in an artificial ceiling on on your fundraising efforts welcome ladies and gentlemen to the development effectiveness strategies channel and the gym and java program where it's our goal to help you increase income and reach that goal of becoming fully funded tonight we've got a great guest on our program by the name of eric fleshhood eric is the executive director of the crew foundation which manages assets of 50 million dollars in estate and gift design efforts and eric is a wealth of knowledge in estate giving planned giving asset giving and deferred giving and so i'm delighted to have eric on this show if you are not currently a subscriber to this channel please click the the notification to subscribe and if you aren't already a subscriber to this channel please do so now and click the bell to be notified of future videos like this so eric we're excited to have you on the program yes well jim thanks for having me today i'm so delighted to be talking with you and uh to be on your show uh you know i joined crew staff as a missionary right out of college and my heartbeat was to um do whatever i could do whatever the lord wanted me to do to help fulfill the great commission but over the years um god exposed me to a great opportunity to leverage my talents in the form of sharing the vision and how people could be more involved specifically through their giving and their finances i god opened up an opportunity for me to learn about planned giving and i was smitten right away uh i was smitten by both the unbelievable power and leverage of of the concepts in planned giving and how it could transform our mission and the giver and so uh for the last 10 years that's been my focus and um i've thoroughly enjoyed it we have a lot of non-profit leaders who watch this program and why is it important for them to understand about planned giving estate design asset giving that's a great question the irs jim tells us that as much as 99 of america's wealth is in assets and so um it's important to understand this and become conversant in it because otherwise you're putting in an artificial ceiling on on your fundraising efforts i don't know how many of your listeners might be golfers well it was about probably 15 years into playing golf when i realized that fully 50 of the shots in a golf round are taken by one club and that's the putter and pro golfers understand this that the way to get low scores in golf is to start with your short game similarly for those of us who are charged with raising major gifts we need to focus on where the where the wealth is where the big opportunities are and when people have 90 percent of their wealth and assets that's why we need to become conversant and talking to them about that well when i got involved in development fundraising i i really thought planned giving and estate design that was all about future giving so i didn't spend a lot of time in that area because i didn't see the benefits of future giving and i think a lot of our non-profit leaders are there would you address that issue eric of of you know why is it short-sighted for people to to miss that opportunity i think you're right i think people think planned giving is synonymous with deferred giving and actually deferred giving is a subset of planned giving listen to this definition of planned giving from the cfre people so that's the certified fundraising executives that's the gold standard for certification in our industry they define plan giving as the application of sound personal financial and estate planning concepts to the individual donors plans for lifetime and testamentary giving so another way to think about this is there isn't major gifts and plan gifts there's only major gifts the question is how major do you want them to be but let let's just assume for a moment the premise that plan giving is only about deferred giving it's only about waiting a couple of decades it's a lot of work the fruit comes a couple decades later in crew we did a study of the effect on giving when a donor put crew in their estate plans effect on lifetime giving and what we found was that the average for the average donor once they made that decision their lifetime giving went up by a hundred and seventy two percent their annual their annual average giving went up 172 percent before and after making that decision oh boy it's terrific to put that in perspective eric i i appreciate that a lot and that really helps to to have that well for our viewers that are saying wow you you sold me this is something i need to be thinking about what are maybe three or five steps that individuals could start today to get a planned giving effort uh moving forward in their organization i think the most fundamental thing you can do if you're just getting started in this is to solicit gifts through a will make that another option that people can to put in front of people you'll be surprised at how the mere suggestion will cause people to take action on that i think another step would be beyond that you want to make readily available on your website on your other forms of communication perhaps your your periodic newsletter to your donors you need to put the language in front of them that they need to take to their attorney to designate a gift to your organization a little more advanced effort i would say is is on the culture and mindset change work on building a a mindset in your culture uh fundraising that wealth is held in assets we want major gifts the continuum but the continuum doesn't stop at the cash bucket the continuum of major gifts goes into the much much bigger bucket and you've got you've got to build a mindset with your board your any person you report to in the organization uh you've got to help align them to this idea i'm the a development leader of a small nonprofit and i'm thinking wow bringing up the issue of of a will is really creepy i don't know this person that well and now you're asking me to bring up a will how would you counsel a a non-profit organization and how to bring up the subject of a will again you need to think of it as we're talking about a major gift so just like you wouldn't in an early on in a in a relationship with a donor you wouldn't make your your biggest ask right you wouldn't put you you want to pace yourself you want to go with with the relationship you want to build that that trust over time uh it's the same way with asking for a will gift that is not your lead foot but it also shouldn't be uh the never foot the easiest gift in the world to ask for is an estate gift it doesn't affect uh anything about their current their current situation it it happens when they no longer need uh the resource and it's it's a deferred it's a deferred gift opportunity department if i could just tell a quick quick story jim i had a supporter that i found out was turning 101. i did i had no idea that she was turning 101 and she had been on her support team for about 20 years and she did not require a very high touch relationship we had offered to come see her we'd offered to visit and and she just that just wasn't what she wanted in the relationship and we respected that but when i found out she was turning 101 i thought you know what i've got to communicate to her if it is in her intention to leave a gift to crew through her estate i want to make sure she knows how to do that and at that point in her life she had turned a lot of her affairs over to family members so now i had the daunting task of communicating this with family members who really didn't know that much about me or what i did i just sat down and i wrote an honest sincere letter and i said you know i am grateful for your support i would never want to be obtrusive in my relationship with you but i know i've learned that you are an earnest steward and that you would want me to share this information with you if it was your intention to make a gift to crew through your will and i just laid out how to do it i sent the i sent the letter and i waited for the the nickel to drop uh her next annual gift came through so i knew that uh i hadn't offended in any way and then she passed away about a year and a half after i i sent that letter and lo and behold a gift a crew came from from the estate a large one so i you know i i tell that story just to say yeah i understand the fear and trembling it is a serious thing because it is a major gift even a mega gift and we all should get sweaty palms at some because that shows respect for the donor uh but you got to step out there in faith and and make the ask it's just like any other major gift ask anything that you would offer through me uh any thing from the crew foundation or any documents any pieces that you've produced that we could send electronically to anyone who requests i i have to highlight dr russell james from texas tech university dr james has put a full course online on youtube for free and it's called visual plan giving and it is not for attorneys and although they'll benefit and what i'm saying is it's not highly technical it's it's made for the everyday fundraiser to get their arms wrapped around how does this work uh how do i talk about this how to become conversant very uh and it also comes with a free pdf uh manual to go along with the videos i'd also uh if you want a little more on the inspiration side uh i would recommend a book called um wealth in families by charles collier a final book i'll recommend jim is right side of the table by fifth in so it's all about building a great runway with a donor so that these conversations about major and mega gifts will be fruitful well thank you so much i hope we can have you on again any final thoughts that you'd like to leave with our our viewers it's really easy it would be really easy to stay in the realm of asking for cash gifts the kind of gifts that take most owners about 60 seconds to decide on but if i know your listeners gym their heart and their passion is to see not only the mission transformed but the giver transformed and planned giving is all about that as the name planned indicates it's the kind of gift that causes the donor hey i need i really need to think about this what's the best way to do this i've got to take into account several factors because this is going to be life changing this is going to have an impact on my family it's going to have an impact on the world it's not a decision or at least one you can't execute in 60 seconds well ladies and gentlemen i hope you enjoyed that message by eric fleshhood unpacking and demystifying this area of planned giving and estate design i hope with definitions and action steps that it allows you to move to the next level hopefully to start a planned giving effort or at least to take the step towards working in planned giving but if nothing else having a better understanding of what to do so if this video was helpful to you give it a thumbs up and click the subscribe button if you aren't already subscribed and we've got as much many as 60 percent of our listeners are not subscribers so i'd really encourage you to subscribe now and subscribe today and of course click the bell to be notified of future broadcasts if you've got questions please put those down in the comments section below and also if you are interested in me answering any questions you can always go out to twitter at devfstrat and use the hashtag jiminjava you can leave me some questions in instagram at dev effectiveness strategies or email me at development effectiveness m gmail.com so as always say it's our goal and our desire to help you increase income and reach the goal of becoming fully funded thank you