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Reprinted with
permission of
Philanthropy Journal
at
www.philanthropyjournal.com
To
help finance its
move into producing
its own television
programming in
addition to
marketing satellite
time to other
television
ministries, The
Inspiration Networks
in Charlotte, N.C.,
two years ago
launched a
planned-giving
office.
Like
many nonprofits, the
nonprofit network of
1,600 cable systems
began its
planned-giving
operation with a
"legacy" program,
with consultant
Robert F. Sharp in
Memphis, Tenn.,
providing marketing
materials about
bequests.
The
TV ministry has
added a charitable
gift-annuity
program, and with
Wachovia Charitable
Services handling
investment of the
funds, distributing
checks, filing tax
reports, and making
sure the annuities
meet IRS and state
requirements, says
Chuck Phelps, the
ministry's director
of stewardship and
planned giving.
PhilanthroCorp also
works with the
ministry's donors
and their advisers
on estate planning.
"The
benefit is having
that ability to do a
proper service for
our prospects who
have responded to
our marketing
program with a
trained and
experienced staff
who can work with
us," Phelps says.
"It helps us
budget-wise and with
expertise, without
having a large field
staff."
QUESTIONS FOR
VENDORS
Nonprofit's thinking
about outsourcing
planned giving
should ask vendors a
lot of questions,
experts said. For
example:
-
How long has the
vendor provided
planned-giving
services?
-
What is the
expertise and
background of
its staff?
-
How have its
investments
performed, and
how will it
invest the
nonprofit's
assets?
-
Is the vendor
willing to
tailor reporting
to the
nonprofit's
needs, and
customize
payment checks
to include the
nonprofit's name
and marketing
message?
-
Does the vendor
have the
software,
expertise and
time to provide
effective tax
services,
administration
of planned gifts
and investment
management?
-
What is the
vendor's ability
to advise the
nonprofit's
planned-giving
staff and donors
on technical
estate-planning
matters?
-
Is the vendor's
business
profitable?
-
What does it
charge, and how
does it
calculate its
fees, such as
charging a
percentage of
assets under
management?
-
What liability
coverage does
the vendor have?
-
Who are
comparable
clients of the
vendor?
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