Fundraising Streams
Bequests
Bequests, also known as legacies or gifts in wills, are gifts given when a supporter includes your organisation in their will.
Many not-for-profit organisations have obtained their largest gifts through bequests.
Bequests requires a different approach to other forms of fundraising, as the type of information being communicated needs to be managed with confidence, tact, and diplomacy.
Bequests highlight your organisation’s long-term commitment to your mission, and they don’t require an immediate financial outlay from the donors.
There is currently great opportunity for organisations to create or improve their bequest programmes due to several factors.
The population is ageing, therefore there are more potential legacy donors.
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The Great Wealth Transfer (the transfer of significant wealth from the Baby Boomer generation into the next).
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Technology is making it easier for New Zealanders to make a will: you can now easily create a will online.
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Recent changes to the Trusts Act 2019 make it more difficult to maintain a family trust.
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Bequest donors are usually motivated by a simple desire to support the organisation, or the wish to create a lasting memorial for themselves or for a loved one. Most donors are likely to have had a previous connection with the organisation before making a bequest, normally in the form of a previous donation, personal connection or time spent volunteering for the cause. People tend to give to well established organisations that have good reputation and brand recognition.
The Fundraising Agency can assist with the development a bequest programme, by using a module-based approach designed to administer the tools and training to set up and implement a programme methodically, appropriately, and therefore successfully.
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