Join NP Local co-host Scott Niermann and special guest Paul Bowman, President of The Holston Foundation (Alcoa, TN), a 25-year veteran of fundraising, as they discuss planned giving vehicles and some tips about starting, enhancing, or growing your donor gift planning program.
Episode Highlights:
Scott introduces Paul Bowman, President of The Holston Foundation. (1:03)
Paul discusses planned giving programs and mentions that a robust planned giving program is a natural maturity of a non-profit, especially a development office for a nonprofit. (3:49)
Paul explains that a planned gift is any strategic gift that benefits an organization and often leads to the sustainability of the organization. (5:49)
Paul shares that it is important for nonprofits to express their vision of the nonprofit to potential donors. (7:50)
Scott and Paul talk about wills, bequests, and the majority of planned gifts come from a simple bequest. (10:31)
Paul shares that he often does a workshop called Provide and Protect that talks about beneficiary options for planned giving, which many people are unaware of. (14:14)
Scott shares that in their organization, they have what is called a charitable gift annuity or CGA program. (20:32)
Paul shares the benefits of gifting stocks, bonds, or even mutual funds. (25:42)
Paul discusses which components in a legacy society are most important. (30:33)
Key Quotes:
"I just encourage those that perhaps are dipping their toe into planned giving, as a professional or as a nonprofit, don't be scared of the process. Get to know a foundation, or a bank, or an organization that can assist you in the more sophisticated gifts." -Paul Bowman
"You may not be under the shade of the tree of the seeds that you're planting in your nonprofit work, but someone will benefit from your efforts." -Paul Bowman
"I love CGAs. They're such an easy instrument to use, you don't even need to involve an attorney. In the process, it's simply a contract between the nonprofit and a donor that has to be notarized and you receive the gift." -Paul Bowman
Resources Mentioned:
Paul Bowman LinkedIn
Reach out to Jason Cass
Reach out to Scott Niermann - Scott can assist with church, nonprofit, and commercial insurance in Tennessee and Georgia.
The Insurance Alliance serves organizations in Illinois, Missouri, Indiana, Kentucky, and Wisconsin.
Niermann Coaching and Consulting
NP Local Podcast
The Holston Foundation
Planned Giving Today newsletter
Crescendo Interactive software
Charitable Estate Planning Institute
The FundRaising School at Indiana University
