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Richard C. Peck Consulting, LLC & The Philanthropy Guy, LLC


Providing consulting and educational services related to philanthropy and charitable giving

CONTACT RICK

Charitable Giving Newsletter

10/11/23 Edition


In This Week's Issue:


Planned Giving: What's the Plan?


Weekly Tips for Nonprofits, Donors, and Professional Advisors

Planned Giving: What's the Plan?

Planned Giving: Building the Conversation


The definition of a Planned Gift is "any major gift, made in lifetime or at death, as part of a donor's overall financial and/or estate planning." Planned Giving conversations don’t always have to be a long drawn-out process. Here are some things you can say to your long-time donors to generate new planned giving conversations:


“If I can give you a compelling reason to do more, would you be open to a conversation?"


“This may be a question out of left field, but…I don’t suppose our institution is in your will or trust? How would you feel about a conversation around other ways to support our work many of which cost you nothing now?”


“I feel I would be doing you a disservice if you weren't aware of other ways to support us, some of which may be more tax efficient for you. Would you like to talk about that?"


There are experts like Joe Tumolo (a trusted peer, who suggested the words above) who can help prime those conversations. For example, who is calling your long-time donors and thanking them? Joe does that and more. Read about him below:

Joe Tumolo


Joe puts in place the core infrastructure of a major and gift planning program for nonprofits. Gift officers then have the confidence and skill sets to have a strong fundamental understanding of the planned giving vehicles, along with an understanding of how to recognize “triggers” that might mean a donor is in a position to make a planned gift. Learn more at About Us | Major and Planned Giving Development, LLC (mpgdevelopment.com) or email him at joe@plannedgivingpartner.com

A Tip for Nonprofits: A "SWOT" analysis (Strengths, Weaknesses, Opportunities, and Threats) is important when doing strategic planning: What do we capitalize on, and what do we look to address from a constructive standpoint? How does this translate to donations? See this interesting article on SWOT: How to Perform a Nonprofit SWOT Analysis (Downloadable Template) (donorbox.org)

A Tip for Donors: Have you heard of Qualified Charitable Distributions, also known as QCDs? If you are over 70.5, you can move up to $100K to charity without it touching your taxable income. People can use these when they have to make Required Minimum Distributions (RMDs) at age 73: Can I Donate Stock to Charity? (investopedia.com)

A Tip for Professional Advisors: Do your clients have privately held stock that they are looking to dispose of? It is a little more involved than donating publicly traded securities, but it can be well worth it for all parties (the donor, the nonprofit, and the entity that purchases the stock back from the nonprofit after donation). Learn more here: nycommunitytrust.org/newsroom/professional-notes/charitable-gifts-of-closely-held-business-interests-and-other-illiquid-investments/

This country will not be a good place for any of us to live in unless we make it a good place for all of us to live in.”

~Theodore Roosevelt

Richard C. Peck Consulting, LLC

About Rick

69 Mulberry Street, Unit 2

Concord, New Hampshire 03301

+1 (603) 387-3897


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