Assignment 1: Case of Jill Donor

Question 1

Steps to Major Gift Solicitation

Answer 1

• Identification
• Qualification
• Cultivation
• Solicitation
• Stewardship
• Recognition
• Renewal

Question 2

Planned Giving Process

Answer 2

• Identification
• Qualification
• Cultivation
• ILLUSTRATE
• Ask (Solicitation)
• ACCEPT
• IMPLEMENT
• Stewardship
• Recognition
• Renewal–>

Question 3

Planned Giving Tools

Answer 3

• Bequest
• Life insurance
• Retirement accounts
• Life estate
• Bargain sale
• CRT
• Gift Annuity
• Pooled income fund

Question 4

Planned Giving Vehicles/Strategies

Answer 4

• Private foundation
• Operating foundation
• Supporting organization
• Community foundation
• Donor-advised fund
• Charitable lead trust

Question 5

Innovative Tools

Answer 5

• Social venture partnerships
• starting a nonprofit
• board seat
• earned income strategies in a nonprofit
• micro-finance
• double bottom-line venture
• lobbying
• start a think tank
• funding a prize
• socially conscious investing
• media campaign
• catalytic philanthropy

Question 6

Consultative Gift Questions (Kathryn Miree)

Answer 6

• How did you first get involved with us?
• When and why did you make your first gift to us?
• What is your area of greatest interest with us?
• What challenges do you feel we face?
• How can you help?

Question 7

CPA Planning Process

Answer 7

1. Set prioritize, and quantify goals
2. Gather data
3. Develop a strategy
4. Communicate the strategy
5. Implement the strategy and its compliance procedures

Question 8

Fithian Legacy Process–Financial Independence

Answer 8

• At the beginning of your career, there is a gap between what you need and what you have. “Trading dollars for days”
• There becomes a point where you begin to hit your numbers, go from scarcity to abundance. “Trading days for dollars”.
• As a planner, you are planning for abundance–the abundance will roll over at death to tax, charity or heirs.
• Goal is to help client do the most with their abundance for themselves, family and community

Question 9

Financial Independence–Pyramid (Fithian)

Answer 9

1. Financial independence (bottom of pyramid)–quantify first how much is enough for self.
2. Family Legacy (middle of pyramid)–How much is enough for heirs
3. Social Legacy (top of pyramid)–How much is available for social capital

Question 10

Why client’s don’t sign (“Round peg, square hole” by Hannah Shaw Grove and Russ Prince)

Answer 10

95. 9%–plan didn’t meet my goals
96. 4%–attorney made me uneasy
97. 9%–plan was incomprehensible
98. 6%–I would do business again with this firm
    * *Only 7% of attorneys expressed concern about the client’s inaction to not sign estate planning docs