GET TO KNOW YOUR ALLIES
By Doris Rubenstein
Fundraising Management Magazine, May, 2001

With all the emphasis on grantsmanship and the profits available for granting from large corporations, any experienced professional fundraiser still knows that the real major gifts are those that come from individuals. And the true major gifts from individuals are those that come as a result of estate and financial planning. The challenge for fundraisers is how to get to those persons who do not have their organizations included in their estate plans.

Help is available if you know how to network.

According to a report prepared for Banker’s Trust Company by the Philanthropic Initiative in 1996, the main reasons that wealthy persons are not more philanthropic were a lack of time, and a lack of information about the missions and fiscal responsibility of nonprofit organizations. With time at a premium, wealthy people rely on a variety of professional advisors to help them make good decisions about many of their financial choices, and those can include decisions about charitable donations.

Unfortunately, the Banker’s Trust report indicates that the majority of their respondents indicated that their financial and legal advisors did not encourage them to be philanthropic. It may be that these advisers feel it is inappropriate for them to suggest philanthropic instruments; but it may also be that they, too, are uninformed about the choices available.

Who are these advisors and how can you reach them with a message about your organization? Reaching them on an individual basis can be very time- and effort-consuming. It will be more worthwhile to appeal to them as professional groups and then follow up with those individuals who indicate some interest. If one of their members is already on your board or is a good donor, they may assist you either in getting a speaking engagement before their group; or you can invite their president or executive director to speak before your local chapter of AFP, CASE, Planned Giving Council, or other association.

When it comes to estate planning, estate and tax lawyers are the first line of advice. Contact your county or state Bar Association to find out when and where their Estates and Trusts section meets. Talk to the Program Chair and see if they allow non-members to make presentations. If not, enlist a volunteer attorney to craft a speech that will include information on your organization and present it in a highly favorable light.

It is an adage that the most trusted professionals in America are accountants. Who else (besides a good fundraiser?) is privy to your financial soul? If your organization employs an outside firm for its accounting needs, ask your accountant to bring you as a guest to the next meeting of his or her professional society. Who knows? If you’re lucky, one or more of the others sitting at the luncheon table may do the accounts for a wealthy family who is just waiting to learn about your organization’s mission and program!

Many wealthy people rely on the services of family office administrators to organize and recommend various aspects of their finances. Family office administrators do everything from pay the electric bills to administer family foundations. To find out who these firms are, consult www.ffi.org.

The field of financial planning has experienced a quantum leap in growth during the past decade. A growing number of financial planners adhere to a philosophy called Family Wealth Planning and they even have their own professional society: the National Association of Family Wealth Counselors. Family Wealth Planning is highly oriented toward planned giving. Find out which financial planners in your area are members and invite them for a site visit, or at least get them on your planned giving mailing list. If none are in your area, most financial planners still will be open to your message. Start at the top in getting your message out to them. Contact the Financial Planning Association at 3801 E. Florida Avenue, Suite 708, Denver, CO 80210-2544.

Another new avenue for reaching persons of means is through philanthropy advisers. There is a handful of these consulting firms scattered across the country. In cooperation with other estate and financial advisors, they assist individuals and privately-held businesses to create and administer policies and procedures for corporate citizenship programs, family foundations and donor-advised funds. Many of the founders of these firms come out of fundraising backgrounds themselves.

One big misconception shared by many fundraisers is that financial professionals are the enemy, that they are out to shield every possible cent of their clients’ portfolio from both taxes and fundraisers. Nothing can be farther from the truth. With current tax laws, philanthropic vehicles are virtually the only way that wealthy families can maintain at least control and direction of their money into the next generation. Their advisors want to help their clients to make good choices about the charities that will be the objects of that philanthropy. It reflects well on the advisor and helps them to retain their clients’ trust and business. When you get to know those advisors, inform them honestly and fully about your organization, and assist them in serving their clients, they become your allies in promoting your organization.

There are a lot of charities that can be helped by these allies. Unless your organization has a high profile, they are not about to come knocking on your door. It is up to you to offer them the information they need to begin forming a meaningful alliance to benefit their clients, your organization, and your community.