When asked about overseas planned giving, I usually reply that it is basically a U.S. phenomenon. Outside of the U.S, philanthropy is not so strong in general, with almost no legacy giving in particular, and very little tax incentives to encourage legacy giving (or any giving!). So, for the most part, I almost exclusively work on U.S. based planned giving situations.
But this very interesting story from a British newspaper may be showing a changing trend, at least in the United Kingdom: http://www.independent.co.uk/news/uk/politics/the-nudge-that-could-generate-4bn-annual-bequest-to-charities-8633586.html
What is interesting about this story is that it reports that about 5% of individuals generally leave charitable bequests – the exact percentage often reported in the U.S. for bequest giving. But, when prompted (i.e. asked!) the percentage jumped to %10 and when raising the conversation to which causes respondents were passionate about, the percentage jumped to 15%!
The results of the U.K. study mentioned in the article seem to compliment Professor Russell James’ work on Planned Giving and the Brain (see previous post or click here). Here is the bottom line on planned giving promotion gleaned from these two studies:
- Start talking about legacy giving with your prospects – US. based or wherever!
- Start tapping into their passion for your cause and how they can create their own legacy with their commitments!
- Legacy giving is not just a U.S. phenomenon!