Planned Giving Definition: What is Planned Giving?

planned giving definition

Planned Giving Definition: What is Planned Giving?

November 22, 2019
Nandini Singh

What is planned giving and how can the collection of planned gifts help your nonprofit? Here’s a planned giving definition along with information on the three primary ways donors contribute planned gifts.

Planned Giving Definition

Planned giving, also referred to as gift planning or legacy giving, in a nutshell, is a donor’s intention to contribute a major gift to an organization, beyond their lifetime. So, unlike an annual gift (an outright gift made for current use), a planned gift is for the future. Essentially, planned gifts are arranged in the present but is doled out at a later date. Additionally, the major gifts contributed by a donor can be made as a part of their financial or estate plans.

So, current wealth doesn’t limit donors when it comes to planned giving. Unlike the value of donations donors contribute on a recurring basis, planned giving enables them to contribute gifts that they wouldn’t ordinarily be able to make. The gifts donated end up being larger and aren’t dependent on one’s regular income. That’s why most planned gifts contributed by donors take the form of life insurance, equity, or real estate holdings (among others). So, even if a donor consistently contributed small gifts, their planned gift can be of a much higher value.

Top 3 Tax Vehicles for Planned Giving

In order for an individual to leave behind a major gift, planned gifts can take many different forms. They can take the form of real estate, personal property life insurance, or even cash. However, the majority of donors seem to gravitate towards 3 primary planned giving options:

1. Bequest

A gift (typically cash; personal property; real estate; stocks; or bonds) left behind in a will for a group, individual, or organization. There are four types of charitable bequests:

  • General Bequests: gifts of property taken from the assets of an estate.
  • Demonstrative Bequests: gifts that come from a source, such as a bank account.
  • Specific Bequests: gifts of personal property such as cash, jewelry, or other tangible assets.
  • Residuary Gifts: gifts that come from the remainder of any debts or expense that have been paid along with other bequests that have been made.

Additionally, out of all the planned gift options a donor could choose from, bequests are the most popular.  In a 2016 study conducted by Indiana University, it was reported that 42% of all planned gifts (given by donors in their subsample) were bequests.

2. Annuity

A fixed sum of money paid to an organization each year. So, this typically takes the form of a simple contract between a donor and a charity. Also known as a charitable gift annuity, a donor transfers cash, security, or assets to a cause in exchange for a partial tax deduction. They can also receive a lifetime stream of annual income from the charity itself.

3. Trust

A legal entity whereby an individual holds or invests property as its titular owner. This can be for one or more beneficiaries. Additionally, there are two types of charitable trusts:

  • Charitable Remainder Trust:  a tax-exempt trust created to reduce an individual’s taxable income by dispersing their earnings to the beneficiaries of the trust over time. The remainder of the trust goes to the organization outlined in the trust.
  • Charitable Lead Trust:  this is the inverse of a charitable remainder trust. The trust provides financial support to multiple causes over a specified period of time. The remainder of the trust then goes to the other beneficiaries (family members, friends, etc.)

Motivations Behind Planned Giving

Above all,  planned giving preserves a donor’s legacy. Donors first begin thinking about planned giving when they are nearing retirement age, between the ages of 40 and 60. So, donors may give to organizations that act in accordance with their personal values and beliefs. As a result, their planned gift symbolize the relationship they’ve cultivated with the cause they’ve given to. If anything, they want their contribution to help secure the future of the organization. It also represents their commitment to positively impacting communities in actionable ways.

Driving the Donor Journey: Guide to Descriptive Modeling

Boost your fundraising using WealthEngine’s descriptive modeling tool. Discover your next best donors you have yet to connect with.

This is the first article in our Planned Giving series. Our next article will be focused on Modeling, and how to leverage WealthEngine’s descriptive modeling tool to identify your next best donors.

Wealth Signal: An Overview of Your Most Important Scores

wealth signal

Wealth Signal: An Overview of Your Most Important Scores

November 22, 2019
Nandini Singh

Effective donor and customer engagement starts with gaining a deep understanding of your constituents. What their interests are, what their giving and spending history is like, and how they’re likely to donate or invest in the future. Let’s explore how WealthEngine’s Wealth Signal will help you make informed decisions on which prospects are the best to engage.

What is Wealth Signal™?

Wealth Signal is a visual indicator of the relative strength of an individual’s propensity to give (P2G); net worth; income; real estate holdings; estimated giving capacity; donations; and connections. By tracking these parameters, you are able to determine how best to grow your pipeline. Additionally, you have the insights to generate more donations & sales, and achieve your business objectives with ease.

Furthermore, the Wealth Signal gives you a quick view of what an individual’s propensity, capacity, and intent is in terms of giving or investing. It allows you to gather donor, customer, and prospect information efficiently while also providing you with the insights to make a quick appraisal of a prospect.

Wealth Signal: Visual Breakdown

Similar to a cell phone carrier bar signal, the bars displayed for each parameter indicates the range of relative strength, from the low to high end of the scale. For instance, 5 bars indicate that an individual’s score is on the high end. This implies high financial strength, monetary value, and influence. By contrast, a lower number of bars or a single bar would suggest the opposite.

This strength is also indicated by color. The high-end of the scale (4-5 bars), is in green; the middle of the scale (3 bars) is in yellow; the low end of the scale (2 bars) is in red. So, this simple visual now gives you a bird’s eye view of the most relevant scores on any individual profile.

Wealth Signal: Ratings and Scores

Wealth Signal tracks 7 wealth indicators, including:

1. P2G (Propensity to Give)

The Propensity to Give (P2G) score is a proprietary score that represents propensity for general philanthropic giving. It’s a two-digit number. The first digit represents the overall category, on a scale of 1-5, along with a text description. Additionally, the second digit is used to subdivide and rank individuals within that category. So, in both cases, the lower the number, the better the score.

2. Net Worth

Net worth, as it is displayed in Wealth Signal, indicates the range in which the difference between total assets and total debt for a household is likely to fall. This is a primary indicator of an individual’s overall wealth.

So, while sifting through multiple profiles, the net worth Wealth Signal will help you segment and determine which prospects best match your existing donors or customers. It’s these potential donors or customers who will be most likely to give or invest.

3. Income

Income indicates an individual’s regularly accrued funds. So, based on the strength of an individual’s income in Wealth Signal, you can determine how much of a donation or investment you could receive from that individual on a recurring basis.

4. Real Estate

Real estate, in Wealth Signal, indicates a range estimating the total value of properties owned by an individual. These insights may help you evaluate whether someone invests in real estate or would be a potential candidate for a legacy gift.

5. Estimated Giving

Estimated giving displays a range, estimating how much an individual could give in the next 5 years. So, the estimated giving strength is informed by an individual’s giving history and assets among other things. Additionally, this section helps prospect researchers determine how much an individual may give in the future.

6. Donations

Donation strength indicates the value of gifts given to causes by an individual. This signals to nonprofits how much a donor has given in the past. So, they are better able to understand their donor’s potential to give in the future. Are they a hidden gem with an untapped capacity to give? Are they a high-impact donor? Or can they be upgraded?

This metric (along with estimated giving) can also be of significant value to wealth managers. This can also help managers understand an individual’s philanthropic interests beyond business. So, based on these insights, they can tailor their outreach in ways that are relevant & personal. Additionally, they can offer them specific investments such as Donor-Advised Funds (DAFs).

7. Connections

Connection strength displays the number of familial and business connections an individual has. So, the more connections you have, the easier it is for you to potentially get introduced to other high-impact donors or wealthy prospects.

The parameters tracked with Wealth Signal allow wealth managers and development organizations alike to understand their prospects deeply. At first glance, you’re able to easily visualize an individual’s propensity and capacity to give or spend. But, Wealth Signal goes beyond that. The parameters tracked, along with their strength, give you a comprehensive, high-level understanding of an individual’s motivations and behaviors. This also allows you to personalize your outreach. As a result, you can begin cultivating and nurturing lasting relationships with your prospects.


See the Wealth Signal for Your Prospects

Test drive WealthEngine to see your prospects’ estimated net worth, income, giving capacity, connections, and more.

WealthEngine9 or WE9, our newest release, is transforming the commercial prospecting landscape. Explore how our Engagement Science™ speeds up the way you screen, analyze, find insights, and predict outcomes through modeling.

Challenges in the Retail Banking Industry & How Data Can Address Them

retail banking customer segmentation

Challenges in the Retail Banking Industry & How Data Can Address Them

November 21, 2019
Sharanya Venkatesh

You may be no stranger to challenges in the retail banking industry. Here’s an alarming fact that you may have come across if you’re from this sector:

challenges in retail banking industry

This poses a huge challenge for sales & marketing professionals. Luckily, data and analytics can be their allies. With the right insights, it’s possible to solve this and more challenges that plague the sector.

Let’s take a look at the top 5 challenges in the retail banking industry. Furthermore, let’s understand how data can help you solve each one.

Challenges in the Retail Banking Industry

We will analyze each challenge, describe how it affects your strategy, and propose data-driven solutions to help you navigate these hurdles with ease.

Challenge 1: Increasing Competition

The banking industry has seen increasing competition, especially from the FinTech sector. The user-friendly and digital nature of FinTech companies offers customers the flexibility they need and the freedom to choose between different providers.

How This Affects You: Customer Retention

Retail banking customers find it easy to switch between providers. This is now possible as it is less of a hassle to open or close accounts. This means that it has become harder to keep customers. Sales & Marketing professionals thus spend more on retaining and re-acquiring customers.

Want to Know How to Reach Millennial Millionaires?

By the end of 2019, millennials will be the largest, living adult population. They stand to inherit an estimated $60 billion in the great wealth transfer. Read our report in collaboration with Coldwell Banker Global Luxury to understand how you can reach them.

How Data Can Help: Retail Banking Customer Segmentation

Retail banking customer segmentation is key to retaining customers. Similarly, it can help drive up their lifetime value (LTV). Lifecycle marketing can help you create engaging conversations in every stage of their journey. By segmenting customers this way, you can apply a marketing strategy that communicates the right message at the right time.

For instance, running a data model can help you predict which customers are most likely to churn. This way, you can reach out to them to understand their needs and provide an offering that suits their needs. By reaching out to them in a timely manner, you reduce the risk of churn.

Challenge 2: Operational Silos

You may find that different departments in your institution collect different data-points on your customers. Overall, it is possible to develop a rich picture of who your customer is. However, the challenge is that information rests in silos. As a retail banker, you may have access to transactional data. Wealth managers in your institution may have access to the estimated net worth, home loans may have information on property value, etc.

How This Affects You: Missing an Integrated View of the Customer

Since information rests in silos, it becomes difficult to see a 360-degree view of the customer. This further restricts you from being able to anticipate their needs or upsell products.

How Data Can Help: Omnichannel Marketing

When you store data in an integrated manner, you allow every relevant team member to understand the big picture. Doing this allows your institution to have better insights into your customers. When you combine your own data with third-party information, you can have a richer view of your customers. For instance, wealth screening can add a variety of insights on demographics, lifestyle, interests, and affinities.

With richer insights, you can have an omnichannel approach in your outreach. You will be able to provide consistent, personalized service. Furthermore, this can be done no matter which touch-point a customer interacts with you on. For instance, a customer may look up use your mobile banking app to information on opening another savings account. When they next come into a branch, a representative can ask them if they still have questions about this or need assistance in setting up an account.

Challenge 3: Increasing Costs

Another challenge in the retail banking industry is the ever-increasing costs. Costs are going up in every sphere ranging from marketing to compliance. Increasing competition and pressure on customer retention, when combined with increasing costs, presents a major challenge to retail banks.

How This Affects You: Reduced ROI

Greater costs result in reduced ROI. When you spend more on acquiring and retaining customers, your team will have more pressure to drive up the ROI on each account.

How Data Can Help: Predictive Prospecting

Taking retail banking customer segmentation a step further, you can focus on highly targeted prospecting when it comes to customer acquisition. In fact, your top customers today can help you find your next best prospects. You can achieve this by using a look-alike model.

A model like this can recognize patterns of traits among your top customers. These traits can then be used as filters when prospecting for new customers. Thus, by finding new prospects who match your existing customers, you are ensuring that your approach is much more targeted. This further enables you to predict customer behavior.

Challenge 4: Pressure to Improve Customer Experience

Since the retail banking industry is challenged by increased competition, institutions have greater pressure to improve the customer experience. The experience you offer should be able to set you apart from competitors. Thus, it should allow you the advantage of nurturing long-term relationships with your customers. Doing this needs an in-depth understanding of customer needs.

How This Affects You: Requires Broad Systemic Changes

Offering your customers a better experience may need sweeping, systemic changes. For instance, your brand may have to become more relatable. Your employees have to learn how to make customers feel appreciated with every interaction.

How Data Can Help: Identifying Money in Motion

One of the ways to offer the best customer experience is by offering customers exactly what they are looking for when they need it the most. Again, this goes beyond the level of retail banking customer segmentation. Data can help you identify money-in-motion. This means you can trace your customer’s life stage and offer products and services that are relevant and timely.

When customers know you are looking out for them, they enjoy a better experience with your brand. Furthermore, you increase retention with every additional product or service that you offer them.

Challenge 5: Employee Retention & Engagement

Customer retention is important, of course. But for your institution to have a good culture, it is necessary to think about employee retention as well. When you experience high employee turnover, it becomes harder to build a sense of company culture.

How This Affects You: Loss of Company Culture

For you losing employees means an erosion of company values. Additionally, this also results in gaps in knowledge transfer. These gaps, especially when they pertain to your customers can create holes in customer experience.

For instance, let’s say a senior citizen is used to coming and in and interacting with the same teller at one of your branches. This teller will know them well enough to serve them quickly or offer them solutions based on their needs. If this customer comes in and sees a new face within short intervals, it becomes harder for them to build long-term trust in your institution.

How Data Can Help: Every Employee Becomes a Marketer

When you create an integrated system of data and provide actionable insights to every relevant employee, you create a culture of ownership. Every employee feels accountable for customer satisfaction. With this becoming an organization-wide outlook, your customers will surely feel the difference in the personalized service that they receive. This can also help you address other challenges in retail banking such as low retention, high costs, and increasing competition.

Mitigating Challenges to Thrive in the Retail Banking Industry

Thus, data and analytics can help set you apart in a crowded marketplace.  Remember that innovation can come not only from you but also your clients. Learn how to how US Bank achieved success by elevating client-led innovation.

Watch the Session from WE Prosper Summit 2019 Now–>

PatronManager Enhances Fundraising Capabilities with Renewed WealthEngine Partnership

PatronManager Enhances Fundraising Capabilities with Renewed WealthEngine Partnership

November 19, 2019

New York, New York — November 19, 2019 — Leading ticketing, fundraising, and marketing solution for the arts, PatronManager, a Patron Technology product, announced today their renewed partnership with WealthEngine, an industry leader in prospect intelligence solutions. This integration helps PatronManager clients use U.S. donor data and wealth analytics to better identify and solicit potential donors.

Bringing the power of wealth intelligence research and screening directly into PatronManager, WealthEngine offers direct access to data elements and proprietary wealth profiles on a non-profit’s donors and prospects. With this robust information syncing directly into PatronManager, users are able to access critical, real-time wealth indicators by cross-referencing the past philanthropic giving and lifestyle attributes of 250 million U.S.-based individuals and 180 million households. This renewed partnership will continue to give PatronManager users the tools they need to increase their fundraising efforts, strengthening their contributing revenue.

“Since 2014, PatronManager has worked with WealthEngine, and we’re thrilled to be strengthening this partnership as we move into the next decade,” says Michelle Paul, Managing Director for PatronManager. “We’re excited to continue to bring WealthEngine’s vast library of invaluable insights directly to our clients, seamlessly integrated into our one-of-a-kind system.”

“WealthEngine’s unique insights, such as estimated giving capacity, propensity, net worth, interests, and other wealth and lifestyle attributes, are empowering PatronManager users with a game-changing competitive edge in pursuing opportunities. We are thrilled to continue our partnership to provide value to PatronManager’s clients,” said WealthEngine’s CEO, PV Boccasam.

About WealthEngine

For more than 20 years, WealthEngine has ensured clients engage in highly personalized and precise conversations with their audiences to find prospective donors and drive growth. Using actionable wealth and lifestyle insights, WealthEngine fuels highly-targeted campaigns to deliver measured outcomes that expand their clients audience, decreases acquisition costs and increases revenue, along with the lifetime value of their donors.

About PatronManager

PatronManager’s mission is to revolutionize the ticketing industry by providing arts, culture, and live entertainment organizations with integrated world-class customer relationship management, box office ticketing, fundraising, and marketing solutions, built entirely on the world’s most advanced cloud-based CRM platform – Salesforce. PatronManager has been the fastest growing platform for arts and culture organizations in the U.S. Over 675 organizations use PatronManager, primarily symphony orchestras, theatres, opera companies, dance companies, university performing arts centers, and museums.

About Patron Technology

Patron Technology helps live event organizers create better experiences for attendees and deeper relationships with sponsors through a complete, data-driven event technology solution. Event organizers of different sizes and across different segments use Patron Technology for ticketing, marketing, fan engagement, CRM, logistics, data management, and more.


PatronManager Media Contact

Aaron Schwartzbord

Director of Marketing


WealthEngine Media Contact

Raj Khera

Chief Marketing Officer

The State of Charitable Giving in America: 3 Key Trends

state of charitable giving

The State of Charitable Giving in America: 3 Key Trends

November 13, 2019
Nandini Singh

The state of charitable giving in the United States is shifting. As time goes on, there seems to be a decline in charitable giving nationally, which is impacting donations. The question is: where can we see this change occurring? And, how do we re-inspire donors to give?

Rick Dunham, as a board member of The Giving Institute and Chair of the Giving USA Foundation, assists in publishing the most widely respected annual report on giving in the U.S. Let’s explore the 3 key trends on the state of giving in the United States from his talk at the WE Prosper Summit 2019.

3 Ways Charitable Giving in the U.S. is Changing

Among the ten topline issues in giving identified by Rick Dunham, there are 3 key trends that are most important:

1. Giving has grown by 3.85% between 2016 and 2018, but has since slowed

Between 2016 and 2018, the United States experienced major growth in the area of giving. This was especially evident in 2017. However, in 2018, giving rates had decreased. Not substantially, but enough where organizations could be influenced by these flatlining rates in the future. If anything, giving by individuals fell 1.1% in 2018. This was the first time giving has dropped under 70%. This leads us to consider: was this drop in charitable giving in 2018 an anomaly? Or is this decline representative of a new trend? Is this drop telling of a shift in donor behavior or donor motivation?

Interested in learning more about Rick Dunham’s take on the state of charitable giving? Catch a recap of his keynote at WE Prosper 2019!

2. Tax law (and possibly tax reform) has had different effects on households in 2018

The drop in giving experienced in 2018 could be explained by the influence changes in tax law or tax reform has had on households across the U.S. Rick Dunham suggests that four dynamics with tax reform could have impacted the state of charitable giving:

  • The standard deduction was raised to $24k for a household. So, if a family itemizes less than this amount in deductions, they may lose the incentive to give.
  • There’s an expanded incentive for high net worth individuals who have the ability to give up to 60% of their adjusted gross income. Individuals could give more, but they may have run into state or local tax issues. So, this may have caused a depression on the potential to give more.
  • With the tax reforms passed at the end of 2017, there was a major surge in giving. So, many donor-advised funds (DAFs) were set up as a result. But, this also led to deductions were capped and the highest income bracket decreased from 39.5% to 37%.
  • Finally, with the tax efficiency of giving, many people decided to pull their giving into 2017 rather than 2018.

Based on these charitable giving statistics from 2018, it seems as though changes in tax laws and tax reform may have contributed to the decline in charitable giving we’re now experiencing. However, there’s no hard evidence to support that tax law changes caused this shift, but they may be a contributing factor. Organizations will only be able to tell in the coming year when more data can be collected on the state of charitable giving in 2019.

3. The number of non-donor households is increasing

The number of non-donor households in the United States is continuing to increase. This past year alone, many recipient organizations such as the arts, health, and human services experienced no growth whatsoever. Meanwhile, other sectors such as religious, educational, and public benefit organizations saw a decrease in donations received. And this isn’t simply representative of philanthropic depreciation now.  If anything, the number of non-donor households has increased by 20 million households since the year 2000. The question is: what is driving this increase? And if donors are feeling less engaged, how can you reach them effectively?

How to Engage Donors as Giving Rates Decline

The challenge we’re facing now (as highlighted in Dunham’s three key trends and the charitable giving statistics of 2018) is that giving is declining. And it’s becoming substantially harder to find donors who are willing and inclined to give. So, how do we navigate this decline and motivate donors to give?

By targeting your outreach using predictive analytics, you can narrow your search and reach prospects who have the greatest propensity and capacity to give to your organization. So, instead of reaching all donors and waiting to see which individuals will give, it’s better to identify and communicate with individuals who fit the profile of your existing donors. Have the prospects you’re reaching out to given to organizations like yours in the past? And is their demographic information similar to those who donate to your cause?

Once you’ve gathered that information, it’s easier to understand the motivations, interests, and values of your donors. At that point, you can begin personalizing your messaging to communicate with them in engaging ways. These are the tools that will allow you to cultivate and nurture long-lasting relationships with your donors.

Catch a Recap of The State of Charitable Giving in the U.S.

Interested in learning more about the ten topline issues influencing giving in the U.S.? Watch Rick Dunham’s talk on the state of charitable giving in the United States, presented at the WE Prosper Summit 2019.

Start Now–>

DC Central Kitchen: 3 Key Qualities That Engage Donors

dc central kitchen

DC Central Kitchen: 3 Key Qualities That Engage Donors

November 8, 2019
Nandini Singh

DC Central Kitchen, a nonprofit organization that combats hunger and poverty through job creation and training, prioritizes forging genuine connections with their donors. Not for the purposes of soliciting major gifts now, but to ensure positive change for the future. Let’s explore what DC Central Kitchen’s CEO Mike Curtin believes the first rule for all righteous entrepreneurs is.  And how you can use this to inform your donor engagement strategy.

The First Rule for Righteous Entrepreneurs

In 2017, Mike Curtin ideated 8 rules for righteous entrepreneurs. These rules act as a guide to help businessmen and women. Not only to help them remain focused in their incrementalism, but also to help them remain donor and community-centric. What is the first rule? Stand up for your principles even if there are risks.

So, what does a steadfast commitment to your mission translate to in forging personal connections with your donors? By establishing clear principles, the connections you create are to uplift humanity.

Interested in learning more about Mike Curtin’s first rule for righteous entrepreneurs? Catch a recap of his presentation at WE Prosper 2019.

3 Key Qualities that Connect with Donors

As outlined by Mike Curtin, there are three key qualities involved in standing up for your principles that connect deeply with donors:

1. Personal Commitment

Donors invest their interest and funds in organizations that devote themselves to be of service to their mission. So, they want to know what your values are and how your organization commits to it in different areas. By letting your donors observe how you seek to amplify your values, you’re willing to be held accountable by them so you can realize your values in actionable ways.

2. Trust

Donors, when they make their decision to give, want to feel they can rely on the actions and intent of your organization. So, once donors feel they can depend on your organization to follow through on your pursuits, they’re more likely to support your efforts.

3. Transparency

Donors want to remain engaged and aware of your actions as an organization. By remaining open about your practices and actions, donors feel motivated to give to your organization. In short, they see that their gifts will turn into something actionable. Additionally, they will also feel that their contributions will actually have a significant impact. By keeping your donors involved in your journey, and outlining the steps you’re taking to meet your goals, donors can identify the areas in which they can help.

In Practice: How the First Rule Saved DC Central Kitchen

For DC Central Kitchen, their commitment to these 3 key qualities resulted in a major gift of $2M that saved their organization. After receiving news that they would no longer be receiving funding from the city, DC Central Kitchen reached out to prospects and donors. They wanted to continue to function in ways that aligned with and allowed them to stand up for their principles. Although they received recognition from their community, many were unwilling to take action in their support.

However, one donor, who had forged a close bond with a member of the DC Central Kitchen team, wanted to do more. This donor got to know a DC Central Kitchen staff member, discussed her commitment to the cause, and why she chose to contribute to their work.

What the team didn’t know was that this donor’s spouse was one of the most successful fund managers in the country. So, when the organization contacted donors and prospects for help, they turned to them. Not for a gift, but for a bridge loan to get their organization through this contract discussion so they could take the next step. The couple gave them a loan, and not only was it forgiven, but it transformed into a major gift. This was all based on the relationship they had cultivated with that couple.

Importance of Forging Deep Connections with Donors

When engaging donors, it’s imperative to cultivate and nurture relationships with those who align with your values. By segmenting your audience and investing time communicating with those who display interest, donors are bound to give.

In short, that’s exactly what DC Central Kitchen did. By remaining committed to the mission of their organization, they cultivated significant relationships with interested prospective donors. So, these donors didn’t just give to DC Central Kitchen to satisfy a temporary need. Their contribution created lasting change, allowing the organization to continue to serve others. The creation & implementation of a personalized engagement strategy is at the core of connection. It’s what allows organizations to uplift humanity.

Catch a Recap of The First Rule for Righteous Entrepreneurs

Interested in learning more about the best ways to engage your benefactors? Watch Mike Curtin’s talk on the first rule for righteous entrepreneurs, presented at the WE Prosper Summit 2019.

Start Now–>

5 Tips to Enhance Your Giving Tuesday Plan

giving tuesday plan

5 Tips to Enhance Your Giving Tuesday Plan

November 8, 2019
Nandini Singh

Want to boost your fundraising and engage your donors? Follow these 5 tips to enhance your Giving Tuesday plan.

Giving Tuesday, which marks the beginning of the charitable giving season, is a great opportunity to meet your fundraising goals. In 2018, nonprofits raised $380 million collectively. Not only is this a great way for you to meet your campaign goals now, but it’s also an important time for you to cultivate relationships with existing and prospective donors. Let’s explore ways you can enhance your campaign come December 3rd.

5 Tips to Make Your Giving Tuesday a Success

1. Determine A Specific Goal for Giving Tuesday

As you gear up for Giving Tuesday, it’s important for you to identify a specific goal for your campaign. It’s important to ask yourself: what is a project that would serve those who we are trying to help, now? Some organizations fall into the trap of using Giving Tuesday as a way to fundraise in general for their cause.  However, by creating a specific goal to meet the day of, your donors are able to visualize and better understand what they’re funding and the subsequent outcome. So, donors are able to clearly see the ways they’ll be able to create change.

It’s also important, as you come up with a specific goal, to express it to donors in ways that are succinct and accessible. If the goal is easily understood by them, achieving it feels more like a collective effort, on your part and your donors.

2. Screen Your Donors Before and After Giving Tuesday

As you approach Giving Tuesday, it’s important to evaluate which of your donors has the greatest propensity and capacity to give now and in the future. So, for your Giving Tuesday plans, it is important to conduct wealth screenings to focus your fundraising efforts. For example, if you have donors who give sporadically, this is a good opportunity to reach out early. By engaging them effectively, and understanding where their interests lie, donors may feel more compelled to give. Screenings also provide you with demographic information, like donor occupation. This is also an opportunity to encourage your donors to set up matching grants. By doing this, you’re able to increase your number of donations with ease and engage more people the day of.

After Giving Tuesday, you also have the opportunity to identify trigger donors or donors who gave significantly. If these donors contributed major gifts during this campaign, they may feel inclined to do so with future ones.  Be sure to approach them for planned giving, major gift opportunities, and any capital campaigns you have in motion. Screenings also allow you to identify underperforming donors who have the ability to contribute more than they are currently. This knowledge allows you to tighten up your future Giving Tuesday plans. You can tighten up your communication strategy and find new and innovative ways to engage them going forward.

Download our #GivingTuesday Toolkit today and get everything you need to make your #GivingTuesday a success!

3. Amplify Your Social Media Presence

Another key tip to enhance your Giving Tuesday plan is by amplifying your social media presence. This can be done by planning posts ahead of time. By doing this, you can personalize your engagement and articulate your organization’s progress. This keeps donors engaged throughout your campaign.

Another way to enhance your social media presence is to create posts, based on nonprofit storytelling, that highlight the goal you’re trying to achieve. This can be done by showing pictures of the community you will be helping or by honing in on stories of individuals who will be positively impacted by the donations you receive.

By humanizing your goal, and showing who specifically will be impacted, donors feel more inspired to give. They see, more clearly, who their donations are helping and how they will help them. Engaging in nonprofit storytelling also gives you an opportunity to amplify your organization’s mission. So, you have an opportunity to highlight the ways you plan to create change in the future, and identify new areas where donors can get involved.

4. Keep Your Donors Engaged On the Big Day

As important as it is to keep your donors updated on your progress during Giving Tuesday, it’s also necessary for them to feel engaged and incentivized. By creating activities or offering them rewards during the day, donors have tangible and intangible items that keep them motivated. Breaking up the monotony of the day by rewarding donors for contributing allows them to feel valued.

Not only does this encourage them to donate more, but this can also motivate donors who have given to tell members of their community to give. If they, themselves, felt excited and inspired to give based on what they received, why not extend that excitement to a prospective donor? It’s important to keep your Giving Tuesday plan donor-centric. The more your donors feel that they are an integral part of your process, the more they’ll want to help.

5. Express Gratitude for Your Donors and Encourage Them Moving Forward

The final tip to round out your Giving Tuesday plan is to express gratitude for your donors. By acknowledging your donors and the impact they made, they have a greater perspective on how their donations ripple out. It was their actions that took your goal from an idea to a tangible reality.

Expressing thanks to your donors also gives you an opportunity to highlight the goals you have for the remainder of the year. If your donors were inclined to give during Giving Tuesday, and encouraged members of their community to give, there’s a good chance that they will want to do more. Update donors on how their contributions influence your Year-End-Fundraising goals, and what they can do to round out their efforts. Let them know how they can remain involved, and take this time to cultivate and nurture them.

WealthEngine’s 2019 #GivingTuesday Toolkit

Want to gain more tips on how to appeal to your donors leading up to Giving Tuesday? Check out our #GivingTuesday Toolkit to gain access to text templates that will help tighten up your donor engagement strategy.

Money In Motion – Find It, Capture It for Your Retail Bank

Money In Motion – Find It, Capture It for Your Retail Bank

November 6, 2019
Raj Khera

Money In Motion

You spend a lot of money acquiring new customers, yet 25% will churn within the first 12 months, and 50% of those will churn in the first 90 days.

By adding just one additional financial product to your customers’ portfolios, you increase retention, protect your client acquisition investment, and build lasting relationships. The challenge is knowing what they’ll buy next so you can personalize your customer journey.

That’s what WealthEngine does. It helps you know your customer in ways you never thought possible. It helps you capture money in motion. Here’s how.

How to Find Money In Motion

Meet Wendy, she’s a wealthy earner not done yet. Her financial journey begins with her first job, her first car, saving for retirement. As Wendy grows, her banking needs change. She marries Henry – a high earner not rich yet – and they start to invest, they buy a bigger house, start a business, and inherit wealth.

money in motion

WealthEngine’s data and analytics help you find the Wendys and Henrys based on the financial product they need and when they need it.

Marketing Strategies to Capture Money In Motion

Using WealthEngine’s deep data and analysis, your bank can discover insights such as net worth, business ownership, inner circle connections, real estate, lifestyle interests, and much more.

Personalize your marketing campaigns by predicting which financial products your customers and prospects are likely to buy next.

Arm your front line with guided knowledge on what to recommend so they have a better first call with clients and identify the best opportunities to build deeper relationships.

Marketing Campaigns to Increase Lending and Deposits

For example, there are nearly 60 thousand millionaires in the Atlanta metro area. WealthEngine can tell you who doesn’t have a premium credit card, or who owns three or more properties, so you can identify top prospects for your platinum credit card or mortgage products. Adding our data to yours will enable you to take customer segmentation to a completely new level.

Another example: find growing families who need more space and are looking for a bigger home or a new car. They are ideal prospects for lending opportunities.

home loan prospects

Identify business owners or accredited investors who are about to have a liquidity event that will increase their investable assets. They are ideal candidates for increasing deposits with your bank.

Our modeling suite can answer key questions to find money in motion like:

  • How to deepen your share of wallet
  • What next best product to offer
  • Who is at risk of attrition

When you know other factors that are influencing a prospect’s life, you can find money in motion. WealthEngine can provide these insights to you.

Get Wealth Data and Model Results Inside Your CRM

This is all made easy with our integrations. You’ll have a 360 degree view of customers right in your CRM. Our API allows for data appends in real-time so that you always have the most accurate view of your customers.

WealthEngine is helping some of the biggest banks in the US reduce their time to close more business and increase their omnichannel marketing campaign effectiveness. We can help your bank find money in motion and drive a measurable impact on your marketing and customer retention investment.

Catpure Money In Motion

WealthEngine can help you find money in motion. Test drive our platform today to see insights you never thought possible.

Millennial Millionaire Report Gains National Attention

Millennial Millionaire Report Gains National Attention

October 31, 2019
Nandini Singh

WealthEngine’s new Millennial Millionaire Report, created jointly with Coldwell Banker, has been in the news a lot, including national TV and major publications:

Want to see what all the hype is about? Download A Look at Wealth 2019 and get inside the minds of millennial millionaires.

6 Questions High Net Worth Donors Ask Before Donating

high net worth donors

6 Questions High Net Worth Donors Ask Before Donating

October 23, 2019
Nandini Singh

Want to capture donations from billionaires and other High Net Worth Donors? Be ready with thoughtful answers to these 6 key questions.

High Net Worth Donor Motivations

As a nonprofit, we’re sure High Net Worth Donors are a priority for you. The question is: how do you engage them as effectively as possible? This all starts with familiarizing yourself with the needs of your donors. Today’s High Net Worth Donors focus on giving with purpose. They want to be philanthropic in ways that are impactful, actionable, and informed. But, what are the wealthy looking for when they give before deciding where and how to contribute major gifts?

James Lintott, the co-founder of the Sterling Foundation, consults and speaks with wealthy families, estate planning attorneys, and wealth advisors around the nation.  He works with all of them to manage the philanthropic goals of high net worth families. Let’s explore the 6 key questions he believes High Net Worth Donors will ask before giving you their money:

Interested in learning more about Jim’s talk on serving high net-worth donors? Catch a recap of his session from WE Prosper Summit 2019.

1. Do I Have A Chance to Make a Difference?

When deciding whether or not to give to an organization, High Net Worth Donors (HNWD) are less concerned about tex benefits, ego enhancement or short-term immortality. In short: major gift donors aren’t giving for selfish reasons. They aren’t giving to preserve their legacy and enhance their worth through philanthropic contributions. If anything, they are more concerned about the ways in which their donations will transform into action.

They don’t know where the line between ‘good intentions’ and ‘actual results’ lies, and they rely on their nonprofit to ensure that their contributions will be used to make a difference. And, even when a donor doesn’t know exactly what area they want to invest in, they know they have a burning desire to do good.

So, the primary question you have to answer when your donor comes to you is: what won’t happen if you won’t get this money? By posing this question, your donors will consider what they’re pouring their money into and what their motivation behind giving is. In short: is this something they have a vested interest in? And will they regret not giving to this cause?

2. Am I Afforded Expert Help?

High Net Worth Donors seek out experts for almost everything. So, it’s incredibly important that your donors feel that they are making informed decisions with their money. Essentially, your donors want to know that they can trust your expertise. Donors may have questions such as: why should I contribute to your organization? How? And, what’s the best tax vehicle through which I can give?

If they have any questions regarding tax implications or specific questions about your cause, you need to provide them with the necessary resources. This could be done through your organization itself or by connecting them with external resources and people that would be even more beneficial. Show them where you are getting that talent who’s done this before or the ways in which you are educating yourself in this endeavor.

3. Will My Gift Yield Measurable Results?

High Net Worth Donors are more inclined to give once they have a greater understanding of where their money is going. They want their major gifts to transform into actionable change. So, these types of measurable results help generate long term relationships with donors.

If they are given evidence that their contributions will result in positive, lasting change, they will want to contribute in the future. Not only are their intentions valued, but they are acted upon by the causes they want to see flourish. So, not only will your cause be able to secure gifts now, but they will in the future as well by showing clients measurable results.

4. Do I Have Flexibility?

Your High Net Worth Donors aren’t concerned with digging into the intricacies of your organization. Their primary focus is to make a difference. So it’s important to consider what resources your donor may need to realize their goals. This requires you to think outside of your organization. What partners can you include for them to realize their goals? What investments do you need to make?

Instead of getting trapped in standard practices, it’s important to consider what can do to help your donors achieve their goals. Think: what can we do to get the difference? What will solve the problem? The more flexible you are in the planning stage and in your ability to provide resources, the more likely High Net Worth Individuals are to donate.

5. Is There A Way to Involve My Family?

For many High Net Worth Donors, giving is not an individual venture. It involves every member of their immediate family, especially their children. By doing this, HNWDs are collectively encouraging, nurturing, and involving the next generation in giving.

They want them to enhance their skill set to review grants and build their decision-making skills. Especially if their children are to manage the family foundation later on, it’s crucial that they have a space to develop their passion for philanthropy. If your cause is able to afford these opportunities. to younger generations, HNWDs are likely to take an interest because their children can extend their efforts, and invest in their own projects.

6. Is My Gift Tax Deductible?

Many High Net Worth Donors consider their gift tax to be the last good deduction left. Charitable deductions, in a sense, help them see the path towards lasting change. Although High Net Worth Donors are more interested in making a difference with their contributions, it’s still necessary to outline the benefits they will receive.

By letting donors know if their gift entitles them to a charitable contribution deduction against their income, you’re providing them an additional incentive to give. Not only are they acting altruistically, but they’re also able to receive tax relief.

Catch a Recap of Serving Today’s High Net Worth Donor

Interested in learning more about the best ways to engage your benefactors? Watch James Lintott’s talk on how to serve today’s high net worth donors, presented at the WE Prosper Summit 2019.

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