Session Title:

Your legacy after the final siren: How can you establish an effective and measurable bequest program?

SPEAKER

Sharon Wangman

Melbourne Football Club

What we will cover today • Benefits of a bequest program

• Where to start

• What’s in a name

• Key elements of a bequest program

• Bequest collateral

• Data Segmentation

• Launch invite/response coupon

• MFC bequest program

• How to measure success

• Keeping in touch

• Closing message

Who am l?

Bequest work 1-5 years 5-10 years 10+ years

Face to Face visits

Hosting morning or afternoon teas

Ever felt like this?

Gifting Cycle

Bequest

Major

Committed Donor

Loyal, frequent donor

volunteer

Established donor

Repeat donor

First-time donor

Prospect Identify

Invite

Inform

Interest

Involve

Invest

Inspire

Benefits of a bequest program?

To create the potential for a significant and sustainable income stream.

An Endowment Fund will safeguard the future.

To build and nurture meaningful and valued relationships with members

To honour and recognise members who have left a bequest and to encourage other like-minded people to do the same

Educate people about the importance of having a Will

Current donors/members/stakeholders likely to leave a gift of a lifetime

A Bequest Society is inclusive, (male/female/all ages) and an effective way of promoting and valuing practical and emotional ties with the Club.

Importance of bequests:

The largest gift or donation is usually a bequest

A formalized bequest program gives people the opportunity to leave a lasting legacy

Bequests are the fastest growing income source

The average bequest in Australia today is $70,000

Some organisations raise $3 million to $5 million per year through bequests income (e.g. RSPCA $6.9m in 2013, Heart Foundation $5.3m in 2012, Peter Mac $6.5M, Salvation Army $25M nationally, Bush Heritage $2.9m in 2013) *source annual reports

Where to start

• A selected bequest planning committee (optional) will initially come together to decide on:

• Name of the bequest program

• Style of bequest collateral

• Possible patrons (those who are willing to include a gift and promote the bequest program to others)

• Nature, style and how often to host functions

• Recognition gifts (must be unique)

• Chairperson of society (host functions/someone people respect)

What’s in a name

The Daisy Foundation

The John Flynn Society

The name tells a story

5 key elements

Develop bequest

program

Bequest codes &

data

Increase the

number and value

of bequests

Estate management Database/Program

management

a) Implement bequest

kit which includes:

- Bequest Booklet

- Response

Coupon

- Recognition gifts

- Reply envelope

- In Memorial

envelope

- Bookmark

- Bequest Flyer

b) Seek out members to

form bequest

committee

c) Engage a key figure

to be the face of the

program

d) Launch bequest

program

a) Seek out potential

bequestors through

examination of

member records

and data

segmentation

b) Build and nurture

relationships by

implementation of

a formalised

contact strategy

c) Communicate

regularly via face to

face visits,

telephone calls,

letters, functions

and cards

a) Increase the

number of

confirmed

bequestors by

reinforcing how

their future gift will

benefit the

organisation

b) Increase the

number of bequest

prospects through

segmentation of

member data

c) Increase the value

of estimated future

income from

consistent

stewardship

a) Set up processes to

record estate

income

b) Develop processes

in collaboration with

legal team if a will is

challenged

a) Set up

processes for

recording

bequest

information

b) Set up defined

bequest codes

in database to

streamline

follow ups and

upgrades

c) Promotion of

bequest

program

Bequest kit

Develop bequest

program

a) Implement bequest

kit which includes:

- Bequest Booklet

- Response

Coupon

- Recognition gifts

- Reply envelope

- In Memorial

envelope

- Bookmark

- Bequest Flyer

b) Seek out members to

form bequest

committee

c) Engage a key figure

to be the face of the

program

d) Launch bequest

program

Data is our friend

With 1000 of names where do you start?

Data segmentation

a) Seek out potential

bequestors through

examination of

member records and

data segmentation

b) Build and nurture

relationships by

implementation of a

formalized contact

strategy

c) Communicate

regularly via, face to

face visits, telephone

calls, letters, functions

and cards • What state do

members live in

• Data by Title

• Ms .Miss.

• Dr. Mr. & Mrs.

• How many are Male/female

• How many are aged 60 years and above

Years of

membership

Donation history

First donation

Last donation

Donation amount

Average

donation

Donation count

Volunteers

Board Member

Past staff

Launch invite

Reason we are launching bequest society, be up front, no surprises on the day

Response Coupon

The Ron Barassi Society is born

Bequest Codes

Code Clarification

A Archived bequest code

B Confirmed Bequestor

C Considering a Bequest

D Deceased Bequestor

E Excellent prospect aged over 65 years

F Family member of deceased

I Intends to Bequest

LG Living Gift (Bequest now rather than update or prepare a Will)

N No to Bequest Ask

P Bequest Prospect identified from contact

R Requested information on Bequests

S Requested information about joining Bequest Society

Database

management

MFC Bequest Program

• Launch date 17th September 2012

• Attendance at launch 84 guests

• Society members inducted 7

• Society Members 77 members (to date)

• Intend/consider to bequest 29 members

• Requested bequest info 102 members

• Interested in society 34 members

• Bequest prospects 146 identified

• Living gift Received $1000 gift after launch of society

• Estimated value of program After 18 months the MFC bequest program estimated value is?

Snapshot of program

How do you measure success?

115

12

113

52 51 48 35

18 15

43

77

2 0

4yrs 4 yrs 3yrs 3 yrs 3 yrs 3 yrs 3 yrs 3 yrs 3 yrs 2 yrs 16mth

1 yrs 6 mth

Industry benchmark

Confirmed Bequestors

Timeframe

Consistent Stewardship

Increase the

number and value

of bequests

a) Increase the

number of

confirmed

bequestors by

reinforcing how

their future gift will

benefit the

organisation

b) Increase the

number of bequest

prospects through

segmentation of

member data

c) Increase the value

of estimated future

income from

consistent

stewardship

Engagement life cycle of a MFC member Identify, Engage, Ask, and Sustain

Industry Standard

• 300 bequestors for each full time bequest manager

• Telephone on 6-12 week cycle

• Visit at least once every 4-6 months

• Focus on quality over quantity contacts and bequest relationships

• Higher number of confirmed bequestors provides results driven program

and ability to build business case to add resources

• Maintain best practice contact level as this will decrease potential for contested Wills

24

Draft Bequest Communications Plan Month Letter Newsletter Testimonial Function Bequest

Promo Ad Website

Jan Happy New Year

phone call to all bequestors

With newsletter Bequest page

Feb With invite Annual survey

Bequest page

March Fun activity 1 home game

Footy record Bequest page

April Promote past

function

With newsletter 2 home games

Footy record Bequest page

May 2 home games

Footy record Bequest page

June With invite 2 home

games

Footy record Bequest page

July Fun activity 2 home games

Footy record Bequest page

Aug Promote past

function

With newsletter 2 home games

Footy record Bequest page

Sept Bequest page

Oct With invite Bequest page

Nov Sit down lunch Bequest page

Dec Xmas Card

With newsletter Bequest Page

How do you keep in touch with interstate/overseas donors?

Which state do your 60+ year old donors live?

202

304

3216

25

436

556

436

Estimated income

Value of program

QTY Bequestors

Name Bequest Type Estimated Amount

1 Elvis Presley (requested info, confirmed) Residue of estate $8,000

2 Anonymous-1 (Solicitor asking for wording) Monetary amount $10,000

3 Mickey Mouse (advised at visit) Monetary amount $100,000

4 Anonymous-2 (solicitor) Unknown $5,000

5 Michael Jackson (letter from solicitor) % of life insurance policy $8,000

6 Marilyn Monroe (advised at function) Unknown $5,000

Do you know how to work out the value of your bequest program? Make a running list of all your confirmed bequestors Insert the type of bequest indicated (if you don’t know that’s ok) At the end you will have a list of known and unknowns Then for the unknowns you can do a “guessament” Assumption the average estate size is estimated at $400,000x2%=$8,000 Average estate percentage donated of 2% Average estate monetary donation of $5,000 The average bequest in Australia today is $70,000

Important to remember Your organisation has invested TIME

and EXPENDITURE into the bequest program

and in order for it to grow, it must be INTEGRATED,

it must be ENDORSED at every opportunity,

If you operate it as a STANDALONE program,

you wont ACHIEVE the desired RESULTS.

Any questions?

Sharon Wangman – Bequest Manager

Melbourne Football Club

Sharon.wangman@melbournefc.com.au

Phone: (03) 9652 1157

WHO AM I? l have a compassionate and caring nature

I meet people from all walks of life, age and cultural backgrounds

l tend to do most of my work chatting to people

And if l am lucky enough, coffee and cake is offered to me by strangers

I am very interested in the future, and the future of those l meet

I mostly talk about subjects that others, may find difficult to discuss

To do my job properly, l must be a good listener

be highly organised, and have an understanding of legal jargon

I manage thousands of dollars worth of income;

this makes the boss very happy

I can host afternoon teas, fold up Zimmer frames,

Travel to unknown areas and have empathy for others

Who am l?

I’m your typical bequest manager!