When a major gift is asked for, something above and beyond a member’s annual support, that gift will come from accumulated assets that are typically set aside for children’s college and retirement. It is a sacrificial gift. As one donor said to me, “Every time I make a large gift, I wonder if I’ve put my retirement at risk.”
What are your member’s concerned about (at least, on a financial level)?
- Losing their wealth (e.g., market downturns)
- Living too long (for the money they have saved)
- Running out of income (and therefore, drawing down assets)
- Rising medical costs
- Increased taxes on assets
How can we speak to these concerns? How can philanthropy help?
This is an open-ended question, folks…
Donor Development Challenge for this week — ask a top supporter to share what they see in their financial future.