Planned Giving (aka Legacy Giving) Programs are put in place to solicit and manage donations from financial or estate plans. Planned giving lets donors set a schedule to leave money or assets to a nonprofit, both during their lifetimes and after death in their will.
Vocabulary
Bequest A bequest is a gift made to a nonprofit in a donor’s will. Bequests are received by a nonprofit after the donor has passed and their will is executed.
Bequest Intention This is the donor’s notice that they intend to make a planned gift. This is not legally binding, but it means a nonprofit can expect the future donation and the planned giving officer can thank these donors.
Bequest Expectancy The approximate value of future planned gifts based on previous planned gifts made to a nonprofit. Bequest expectancy can help with business planning and budgeting for a planned giving program.
Non-Cash Assets This is a gift that is not cash. Planned gifts and legacy giving can also be donated through stocks, life insurance policies, retirement accounts or property.