Colleges and universities, hospitals and museums have benefited for many years by planned gifts. Yet this kind of program is not only for older or larger institutions. Every organization big or small, young or old can establish a planned giving component to their development strategy. A planned giving program is a public statement of your group's intention to be around in the future while setting up financial structures for the organization's long term stability. It is never too late to start the process.
Bequests are the most common type of planned gift.
They are also the easiest to promote, are readily understandable by your constituency, do not require legal counsel, have no administration responsibilities and in time will be disbursed to you. Even if your group isn't ready yet for a full-fledged planned giving program, you can easily have a wills program. Reminding your donors of the importance of having a will can help motivate them to make wills that include a bequest provision for your organization. These groups act as intermediaries to provide you with expertise while receiving the irrevocable planned gift on your organization's behalf. In this scenario, when the gift proceeds are eventually realized, the assets typically stay with the community foundation or progressive fund.