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Legacy giving program toolkit

Purpose of this toolkit

This internal toolkit is designed to help charitable organizations design, launch, and manage a legacy giving program. It is intended for staff, leadership, and board members responsible for fund development, stewardship, and long-term sustainability.

Where to start

A successful legacy giving program begins with clarity and alignment. Have you created your own Will? If not, consider doing so to learn first-hand about estate considerations. This approach will also set an example for your Board of Directors, staff and donors.

Define the purpose of the program

Articulate why you’re offering a legacy giving program and how these gifts will support the long-term impact of your organization. Create a purpose statement, for example: “Our Legacy Giving Program exists to ensure long-term financial sustainability and to provide supporters with a meaningful way to extend their values beyond their lifetime.”

Board and leadership alignment

  • A legacy giving program requires leadership awareness and support.
  • Board understands what legacy giving is and is not
  • Board approval to accept bequests (gifts by Will) and other estate gifts
  • Encouragement for board members to lead by example
  • Identification of a board or staff champion

Simplify the process

Estate planning can feel overwhelming for donors. Remove barriers and simplify the process.

  • Provide helpful resources that explain the steps to make a legacy gift.
  • Encourage them to reflect on what matters most to them.
  • Help the donor understand their choices for gifts in their Will. Options to consider:
    • Specific dollar amount
    • Percentage of estate
    • Residual gift
    • Unrestricted versus designated
    • Endowment versus current use
  • Provide them with sample wording for the Will (see example below)
  • Advise the donor that they will need to meet with a lawyer or notary to prepare or update their Will

Policies and infrastructure

Before engaging donors, the organization must be prepared internally.

The Gift Acceptance Policy should explicitly address legacy gifts, including:

  • Bequests
  • RRSPs / RRIFs / TFSA
  • Life insurance
  • Endowment gifts
  • In kind gifts
  • Discretion to decline gifts that conflict or do not align with mission

Confirm the following information is accurate and accessible:

  • Legal name of organization
  • Charitable business number
  • Mailing address
  • Authorized signing authority

Create a case for support that includes:

  • The long-term impact to your organization
  • Testimonials about living donors who intend to leave a gift in their Will
  • Stories about the impact of estate gifts your organization has received
  • Different options for the donor to consider

Promote your Legacy Giving program through the following channels and newsletters:

  • Publications
  • Annual Report
  • Board materials
  • Event feedback forms
  • Direct mail
  • Social media
  • Website

Through select channels above, you can encourage individuals to identify themselves as legacy donors. For example, add a checkbox (online or print):

☐ I would like to know how I can support [Name of Charity] through my Will or estate plan.

☐ I have already named [Name of Charity] in my Will.

Standard will and bequest wording

Develop sample bequest language and have it reviewed by a lawyer. For example:

Bequest to the Organization

To pay or transfer the [sum of $_____ or _____ % of the residue of my estate] to [Legal Name of Organization], currently of [complete address], charitable business number [#########], for its own use absolutely.

Bequest to an Hosted Organization Fund at the Victoria Foundation

To pay or transfer the [sum of $_____ or ____ % of the residue of my estate] to the Victoria Foundation, currently of 200 – 703 Broughton Street, Victoria, British Columbia, V8W 1E2, charitable business number 13065 0898 RR0001, to be added to the [Fund Name], a permanent fund held at the Victoria Foundation.

Identifying legacy giving prospects

Prospects may include:

  • Major donors
  • Long-term donors
  • Loyal annual or monthly donors
  • Current and former board members
  • Volunteers and staff (both current and former)
  • Individuals/families that have received your services
  • Highly engaged event participants

Stewardship and recognition

Legacy donors require thoughtful stewardship. For example:

  • Personal thank you letters
  • Offer a tour of your facility
  • Invite them for a coffee or tea
  • Share newsletters, annual reports and impact stories
  • Create a legacy recognition group
  • List them on a donor wall (with consent)
  • Other opportunities that align specifically with your mission
  • Discuss possible naming opportunities, if applicable

Tracking and internal systems

Organizations should track the following through their Customer Relationship Management (CRM) tool or internal tracking system:

  • Legacy gift inquiries
  • Confirmed bequests
  • Anonymous intentions
  • Stewardship touchpoints
  • Assign prospects a Relationship Manager

Working with the Victoria Foundation

Partnering with the Victoria Foundation can provide:

  • Endowment administration
  • Investment management
  • Estate administration support
  • Donor confidence