Ep. 12 - DAF Rules: Navigating Galas, Pledges, and Perks with Jody Dilday

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Welcome to the Ask Allison podcast where we talk about all things nonprofit professionals are really dealing with.
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We ask the questions we sometimes don't know who to ask, and hopefully learn something while we have a little fun along the way.
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Today we're talking about something that can sound complicated: community foundations, donor advice funds, plan giving, charitable giving rules.
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Wait, don't turn us off, because my guest today is going to help us make all of this understandable and more importantly, usable.
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And the timing of this episode could not be better.
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This episode goes live on October 7th, and tomorrow, October 8th, is DAF Day, a national day focused on encouraging giving through donor-advised funds.
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So if you're listening and thinking, I know my donors have DAFs, but I'm not really sure we're doing anything to encourage those gifts, this episode is for you.
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We're going to talk about what DAFs are, how nonprofits can better position themselves to receive those gifts, and because you know I'm going to ask the questions we really want answered, what happens when a donor wants to use their DAF for a table, a ticket, a membership, or a pledge?
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And we're not stopping there.
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We're also talking about planned giving and how even the smallest nonprofit with zero planned giving budget can get started.
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So now I'm going to introduce my dear friend Jody Dilday, who I've known we probably shouldn't count all the years, but we can.
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I'm I'm thinking 30, 28, probably lots of years.
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Lots of years.
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So um, Jody, tell us about you and tell us about what you've been doing and tell us how fundraising found you.
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Oh.
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Yeah.
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About me.
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Well, um, I've been in Northwest Arkansas 37 years.
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I came here as a teenager, as a child, a mere child from South Dakota.
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Just a baby.
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Mm-hmm.
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And um found my way into fundraising like all of us who did 30 years ago by accident.
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We stumbled backwards and tripped into it.
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Actually, we stumbled forward and tripped into it.
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So I uh was a social worker, worked in the field of child welfare, and then stayed home for a few years as I started my own family.
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And when I was looking to go back to work, a friend of my family called my mom and said, has Jody ever thought about doing fundraising?
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Because she'd be great at it.
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And they knew that I had a background in social work and they knew I had a little bit of experience in sales.
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And so they just thought I would be good at at fundraising.
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And I didn't know anything about fundraising except I had heard of the United Way and I had watched the Jerry Lewis Telethon, the Labor Day weekend telethon.
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Oh, I remember those days.
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Yeah.
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So that's what I knew about fundraising.
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Um, but happened to also know that there was a consultant in fundraising that went to my church.
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I don't even know his name anymore.
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Um, he's moved away and I don't remember.
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But I applied for this job and called this consultant when I got scheduled an interview, and I said, I need you to tell me everything I need to know about fundraising.
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And we had about a 45-minute phone call, and he told me some things, and then I went into the interview and I landed the job.
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So then I thought, what do I do now?
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But I worked for the American Red Cross.
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That was my very first fundraising and development job.
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And as fundraising goes, working for a national large-scale organization is not a bad place to cut your teeth because the the annual fund program is already sort of baked in.
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They've got materials, they have programs, and it's almost plug-and-play.
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And so I learned fundraising for about four years at the American Red Cross.
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That's where I met you.
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Yes, there.
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That was when I first met you.
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Um well, so fast forward, how did you end up at Arkansas Community Foundation?
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Well, that's um that skips a big part of my career.
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So I just want to say really quickly, I served as the executive director of Single Parent Scholarship Fund of Northwest Arkansas for 10 years.
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And while I was at that organization, we had a campaign called the Pathway to Prosperity, and we raised$3 million for our endowment.
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Yes.
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And it was during that pathway to prosperity campaign that I fell in love with a concept of endowment.
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And that's how I came to the work at the Community Foundation.
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Um, I became familiar with the community foundation because that organization actually held our endowment.
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So Single Parent Scholarship Fund had an endowment and it was held at Arkansas Community Foundation.
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So I became familiar with the organization and its leadership.
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And um, when they were looking to open their Northwest Arkansas regional office, they approached me and I left my beloved single parent scholarship fund, which I still love.
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Um and I know it was hard.
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It was hard.
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I remember because you you did love working there.
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I loved it, but you know, there are seasons w in life, and you know that I think my I knew my season there was coming to a close and it was ready for the next leadership and the next big thing.
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And the community foundation was ready for uh regional leadership in Northwest Arkansas, and I stepped into that role and opened our Northwest Arkansas office nine years ago.
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Wow.
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That's already been nine years.
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Nine years.
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I've been at the community foundation almost as long as I was I was as I was at single parent.
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Wow, wow, wow.
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Okay.
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What's something people would be surprised to know about you?
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Well, if they don't follow me on Facebook, they'll be surprised.
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But people who follow me on Facebook won't be surprised.
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Um, and that is that I love live theater.
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I think I have six shows to attend in October.
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Um, all community theater.
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So um I love professional theater.
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I go to Theater Squared every single show.
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I never miss a show.
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I saw fences there last night and it was incredible.
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Oh, I bet it was incredible.
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But I love community theater as well.
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And my son is active in community theater, and and I think it's the, you know, it's the stories, and it is feeling the closer, the closest you can feel to somebody else's lived experience, the perspective that it brings you to watch somebody else's story unfold.
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And you know that I love community theater as well.
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And um, I wish I had more time to do more community theater.
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I love I love it so much.
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And we're so lucky in this area.
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Yes.
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Um just booming.
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Yes.
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I mean, we got more than community theater.
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We got all kinds of theater.
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And I love I love it.
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So I have a bucket list um thing I'm gonna put out here for accountability reasons, and that is it is on my bucket list to be in a show with my son, Ethan.
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Mmm.
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Well, that won't be hard to do.
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So we can make that.
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It just can't be a musical because I can't sing.
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Uh you never know.
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You could be a townsperson, you could be something.
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I I could I would say you could do it, but yes, we will make that happen.
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And it's gonna, yeah, that's gonna happen.
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Now, especially now that all these people have heard that they're gonna make it happen.
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So let's uh we've got so much to cover, and I know you laughed at my outline because you thought, how are we gonna get this done in an hour?
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But we're gonna try, folks.
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We're gonna try.
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And maybe someday there'll be a part two.
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Who knows?
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Um, so let's start at the beginning because there are nonprofit professionals listening who know Arkansas Community Foundation, but may not really understand everything you do.
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So tell us what is a community foundation?
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Great question.
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Um, I think because we are surrounded by wonderful, generous, large, private foundations that community foundations are also are almost overlooked.
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So if you are um a Gates or a Zuckerberg, you need a private foundation.
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Or Oprah.
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Or Oprah.
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Yeah.
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You need a private foundation because there's enough wealth to put in there to run and operate and staff a foundation.
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If you are an average person like we are, you might want you might want to have the same sort of resources available to you as a private foundation philanthropist, but it doesn't make sense for you to have a private foundation.
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So the community foundation is almost like a shared service model for individual philanthropists.
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Yeah.
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So, or a fractional foundation almost.
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So we work with individuals, families, businesses, um, and even other, some other foundations, especially foundations as they are sunsetting to hold and manage their charitable funds and to assist them with their charitable grant making.
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So that is the side of the house that I live on, is the um the fundraising, the fund development side and working with individual donors.
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The community foundation also has a grant-making side of the house, of our programmatic side.
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And um, and the community foundation in Arkansas, we are different from there's about 800 community foundations in the country.
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Now you think about that, there's not 50, there's not 50 state community foundations.
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There are 800 community foundations.
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So the vast majority of foundations are hyper-local.
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So you might think of a region like the Dallas Area Community Foundation, not the Texas Foundation, but Dallas, the Denver Community Foundation, the Silicon Valley Community Foundation.
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Arkansas being a small state, a rural state, a very low population, it makes more sense for us to have a shared back office.
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So we have a statewide community foundation with branches or what we call affiliates in communities all across the state.
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So that side of the, our other side of the house does grant making, and each of our individual community affiliate offices have grant-making pools of dollars that they can award in their community, whether that is their giving tree fund or a stop hunger endowment or another type of organization, or I'm sorry, um, a programmatic focused endowed fund that they can award in their community.
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And so local volunteers serve on those grants committee and make those giving decisions.
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So the foundation is not just for donors and it's or individuals, um, and it's not just for nonprofits, but it's for it's for everybody.
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Yeah, it's for all different walks of people.
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So if an organization is created, has created an organizational endowment to support their operations or to support their mission in perpetuity, they can have it invested with a private wealth manager.
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They can invest it at a community bank, they can have it held and managed and invested at the community foundation.
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So that is one of the services that we provide to nonprofits is to hold and grow their endowments.
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And you know, so one of the nonprofits I worked with or work with is Rogers Historical Museum Foundation.
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They also have their funds there because um it just, it just makes sense for them.
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And it's such a great resource that we have it there.
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It's uh it's outsourcing some of that.
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You don't need to have a really sophisticated finance committee that's looking at allocations and deciding on a spend rate.
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No, no, no.
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Um, so here's a scenario.
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I think that's, you know, here's a just a practical question.
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I'm running a small nonprofit somewhere in Arkansas.
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I don't have a development department, I don't have a planned giving officer, I don't have a giant budget.
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Why should I get to know the Arkansas Community Foundation?
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So I think um, you know, Arkansas Community Foundation is the largest grant maker in the state of Arkansas in the turn in terms of the numbers of grants we award.
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There are clearly foundations that award more dollars than we do, but not as many individual grants as we do.
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So small nonprofits in Arkansas, if they're going to get any foundation funds, it's most likely they will get community foundation funds.
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So they should contact their local affiliate office, meet that uh executive director, understand what the giving priorities are for that community foundation, and apply.
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Because our grant applications are very simple and straightforward.
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There's not a lot of reporting.
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Um, they're very easy to access.
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And I think it's we've talked about this on this podcast before, get to know that director in your community and keep them abreast of everything that you're doing for the community.
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Because if they know that, then when they visit with a donor or a board member or someone else in the community, they can say, Hey, you need these services over here.
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Or, hey, I should tell them to apply for the grant because that donor just made their gift and they, this is one of their focus areas or one of their things that they love the most.
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So um, you should get to know your community foundation executive director in your community, get to know them and get them on a tour and just be able to ask them questions because if they know all about you, they're able to share that with the people that matter.
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So that's that's really, really good advice.
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Um so one of the ways that we that donors work through the community foundations um is to bring us to three little letters every fundraiser needs to understand, and that's DAF.
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So it's been what, the last five years, these have come on the scene and become the fastest growing, like it's I'm sure it was longer than that, but it seems like to in the fundraiser's world and all the development people, it was like all of a sudden we were being told this is the fastest growing vehicle for donors, and you need to know what it is and make sure it's on your, you know, on your radar.
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Absolutely.
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So start us with what the heck is a DAF?
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A DAF.
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Well, donor advise funds are the fastest growing charitable giving vehicle in the country.
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Um, they are they've been around a long, long, long time.
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They have grown so significantly of late because entities like Vanguard and Fidelity and Schwab have recognized that there's a real opportunity there for them.
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Um, but community foundations have been providing donor-advised funds to donors for decades.
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Right.
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Um, a donor-advised fund is exactly what a name implies.
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It is a fund.
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So it's a charitable fund.
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It's held at the community foundation or another sponsor.
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It is created and established and funded, or the initial monies have come in from a donor.
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And that donor advises the sponsoring organization where to make grants.
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So a donor-advised fund is established by a donor, advised by a donor, and it is a charitable fund to do for grant making.
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This is the same concept as my credit card in my wallet is my is a giving vehicle and I decide.
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I pay the bill, I put the money in and I pay the bill, and I decide where to spend it.
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So you can think about a donor-advised fund like you would a checkbook or a or a credit card.
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The difference is that when the donor puts the money into the fund, that is where the charitable deduction comes in.
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They have gifted, given away that money, all legal rights and privileges to that money is now with the sponsoring organization.
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So when someone creates a donor advice fund at the community foundation, they have given us at the community foundation that money.
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We are a 501c3 nonprofit organization, so they get a tax deduction.
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They've made their gift at that time.
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They have made their gift at that time, they get their charitable deduction at that time.
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What they retain is advisory privileges.
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So they can continue to advise on where the ultimate dollars are granted out to.
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So that's why it's called the donor-advised fund, not a donor-directed fund.
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Right.
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And that's when people get into the sticky, well, you know, what if I call them up and say I want to give and they say no?
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That tells it doesn't always work like that.
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The only time it's a no is if it's something that they would have known on the front end doesn't align with the foundation that they're giving it to.
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The only time the community foundation is going to say no, and this has happened to us twice last month, twice this month, as a matter of fact.
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A donor recommended a grant.
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We have our finance grants associate getting ready to make that grant.
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And as she does with each and every grant, she is doing her due diligence to make sure that that nonprofit is in good standing with the IRS.
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And twice this last month, she discovered they've lost their 501c3 status.
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They forgot to file a paper, you know, they forgot to turn in their 990, they forgot to do something, they didn't dot an I across a T.
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And now the IRS has taken away their nonprofit status.
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We can't make a grant to an organization that is not a nonprofit.
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And so we have said to the donor, to the donor who established the fund with us, so sorry, we cannot make that grant right now.
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What we have done is we have alerted that nonprofit organization that they are no longer in good standing and we have pointed them to where they need to get that fixed.
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We're just going to hold that grant.
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We're not saying no.
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We're not denying.
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We're saying as soon as they get their house in order again, we will then release the grant.
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But we're protecting our 501c3 status and we're also protecting the donor.
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You don't want to make a grant to an organization that's not eligible.
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Right.
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Right.
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So that's when we say no.
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And that's that's the biggest red flag right there, is just to make sure they're in good standing and they still have their 501c3.
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That's right.
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And that's just protecting, um, ultimately, that's protecting the donors' interests.
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So why do you think they're so important for us to understand these these donor advice funds?
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Like why have they been become the favorite thing, do you think?
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Well just your currently there is three hundred and twenty billion dollars sitting in donor advice funds today.
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Three hundred and twenty billion dollars.
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So I'm just saying if you want to raise money, you should know where money is.
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And that is one huge area where there is money sitting.
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And the other thing is that money is not cannot be spent on anything else.
00:19:51.680 --> 00:20:01.359
So sometimes you can go to a donor or a somebody who you think might be a donor because you know they have a lot of money, but they might not spend any of their money on charitable giving.
00:20:01.440 --> 00:20:05.039
They might spend all of their money on vacations and houses and other things.
00:20:05.599 --> 00:20:08.400
These dollars have to be spent on charity.
00:20:08.720 --> 00:20:13.279
So there's$320 billion set aside right now for charity.
00:20:13.839 --> 00:20:16.240
So we should be asking for those dollars.
00:20:16.480 --> 00:20:16.720
Right.
00:20:16.880 --> 00:20:17.039
Right.
00:20:17.200 --> 00:20:19.599
Well, that brings me to the next question.
00:20:19.839 --> 00:20:26.400
So we know what one is now, but what should we be doing to make us DAF friendly?
00:20:26.559 --> 00:20:28.880
Like make us a DAF-friendly nonprofit.
00:20:29.039 --> 00:20:30.960
What are some easy things we can do?
00:20:31.279 --> 00:20:37.279
The easiest thing to do, and the thing I tell my friends all the time, it's actually twofold.
00:20:37.440 --> 00:20:44.880
Number one is list donor-advised funds as a way on a reply card.
00:20:45.039 --> 00:20:57.599
So you're having a gala, or you're having you have a newsletter, or you have an email um solicitation, and it says, check enclosed, charge my credit card, send me an invoice.
00:20:58.000 --> 00:21:05.119
Most of the time I have to scribble in the margins around the card in very fine print in the dark at an evening gala.
00:21:05.599 --> 00:21:08.640
I want to recommend a grant from my donor advice fund.
00:21:09.200 --> 00:21:14.880
I want to tell the staff there and then that I'm planning to give to them because they want to announce a number.
00:21:15.039 --> 00:21:18.160
We raised, you know,$15,000 tonight.
00:21:18.319 --> 00:21:18.559
Right.
00:21:18.720 --> 00:21:24.720
I want my money, my my play, my commitment to that to be announced and totaled up.
00:21:24.799 --> 00:21:29.359
But there's no way for me to just check the box that says I'm going to recommend a grant for my donor advice fund.
00:21:29.440 --> 00:21:30.079
So that's easy.
00:21:30.480 --> 00:21:31.440
Easy peasy.
00:21:31.519 --> 00:21:33.039
Just add it to the choices.
00:21:33.279 --> 00:21:39.039
And the and the reason, I mean, I could I continue to scribble and other people can scribble in the margins.
00:21:39.200 --> 00:21:45.440
But here's the thing some people sitting in that room have a donor advice fund that they have forgotten about.
00:21:46.480 --> 00:21:57.119
So do you want them to consider a hundred dollar gift on their visa or giving you a thousand dollars that they've already set aside for charity that's sitting in their donor advice fund?
00:21:57.279 --> 00:21:58.640
That's a pretty easy answer.
00:21:58.799 --> 00:21:59.039
Yes.
00:21:59.279 --> 00:21:59.599
Honestly.
00:22:00.240 --> 00:22:02.160
People forget that they have a donor advice fund.
00:22:03.039 --> 00:22:03.839
That's number one.
00:22:04.240 --> 00:22:07.359
It's like they they make it and they set it up and then they forget it.
00:22:07.519 --> 00:22:08.079
They forget it.
00:22:09.440 --> 00:22:17.279
The other thing that is very important is have your tax ID number on your website.
00:22:18.000 --> 00:22:20.880
Front page, bottom, in the footer, every page.
00:22:21.200 --> 00:22:23.599
What is the tax ID number of my organization?
00:22:24.000 --> 00:22:34.160
Because as I was talking about our grants associate who has to do the due diligence of making sure that nonprofit organization is in good standing, we have to look for that nonprofit.
00:22:34.480 --> 00:22:37.920
And the, you know, a lot of nonprofits have very similar names.
00:22:38.640 --> 00:22:50.160
And if somebody recommends a grant and we're not sure was it and you know, was it the Northwest Arkansas Apple Seeds or Apple Tree?
00:22:50.480 --> 00:22:52.720
Those are two like sounding organizations.
00:22:52.880 --> 00:22:53.119
Right.
00:22:53.359 --> 00:22:55.599
They have very distinct tax ID numbers.
00:22:55.839 --> 00:22:58.640
And we have to, that's a good way for us to verify on our end.
00:22:58.720 --> 00:23:00.720
But all nonprofits should have their tax ID number.
00:23:00.799 --> 00:23:02.880
It's public information, don't hide it.
00:23:03.119 --> 00:23:03.519
Right.
00:23:03.680 --> 00:23:04.640
And just make it easy.
00:23:05.119 --> 00:23:07.119
We had an attorney tell us at AFP.
00:23:07.440 --> 00:23:13.200
I can't, you know, fulfill a donor's wishes if I can't find that the day I'm working on it in that moment.
00:23:13.440 --> 00:23:13.759
That's right.
00:23:13.839 --> 00:23:16.480
It if it takes me longer, I want to pull my hair out.
00:23:16.640 --> 00:23:18.160
Just have it all right there.
00:23:18.480 --> 00:23:29.680
And as nonprofit organizations sometimes consolidate and merge under a new organization or under an existing organization, what is the surviving tax ID number?
00:23:29.920 --> 00:23:39.839
If a donor leaves a gift to an organization that now has a new name because branding is important and sometimes logos change and sometimes organizations' name change.
00:23:40.000 --> 00:23:42.400
You worked for an organization that's name changed.
00:23:42.559 --> 00:23:45.119
I'll bet you the tax ID number didn't change.
00:23:45.359 --> 00:23:45.519
Right.
00:23:45.759 --> 00:23:58.319
So if I made my will 60 years ago and I left your organization by its original name in my will, but that doesn't exist anymore, but it also has the tax ID number, they could say, Well, that exists.
00:23:58.720 --> 00:24:03.200
That tax ID number, that organization became a new name, but here's the same tax ID number.
00:24:03.759 --> 00:24:04.000
Yeah.
00:24:04.640 --> 00:24:05.519
Oh, that's so good.
00:24:05.759 --> 00:24:06.480
That's so good.
00:24:06.799 --> 00:24:13.279
And and like she's saying, this is not something that costs a lot of extra money to add it as a choice.
00:24:13.519 --> 00:24:16.960
Monthly donor, you know, or one-time gift.
00:24:17.200 --> 00:24:21.440
Would you like to leave a donation from your or make a donation from your DAF fund?
00:24:21.839 --> 00:24:25.039
Like it's very easy to to add that.
00:24:25.200 --> 00:24:27.359
So and you should just put it on everything.
00:24:28.079 --> 00:24:30.640
Especially now, more people are savvy about it.
00:24:30.799 --> 00:24:37.759
There was one thing I wanted to touch on, and you were talking about like there's certain people who make private, have private foundations.
00:24:37.920 --> 00:24:39.839
We talked about Oprah and some others.
00:24:40.400 --> 00:25:07.839
But if there's somebody that comes into some finances and they, you know, I always think and have heard it's easier to have a donor advice fund than to set up a full foundation because there's so many regulations and you have to give so much away from your private foundation that if you do a donor advice fund, it's like the money's still yours and you still get to do stuff with it, but you don't have to have an operational staff.
00:25:08.160 --> 00:25:12.319
You don't have to meet certain requirements by a certain date.
00:25:12.640 --> 00:25:22.400
It's actually you are you have better tax advantages by creating a fund at a community foundation than you do setting up a private foundation.
00:25:22.799 --> 00:25:26.640
You get to write off or deduct more of your contribution.
00:25:26.960 --> 00:25:30.079
Um, it is expensive to set up a private foundation.
00:25:30.240 --> 00:25:34.960
You've got all the legal work that goes into that, then you have the ongoing costs of operations.
00:25:35.039 --> 00:25:40.319
And even if you didn't have a staff, you have to have an annual audit, you have to do the tax filing.
00:25:40.400 --> 00:25:44.559
So there's a lot of administrative cost to having a private foundation.
00:25:44.720 --> 00:25:47.039
All of that lives under our foundation.
00:25:47.119 --> 00:25:48.160
So you don't have to have that.
00:25:48.319 --> 00:25:52.160
So I say we take all the headache out of philanthropy and leave you with all the fun.
00:25:52.640 --> 00:25:53.839
All the fun and the reward.
00:25:54.240 --> 00:25:54.559
Yes.
00:25:54.720 --> 00:25:57.839
What do you think fundraisers are getting wrong about death?
00:25:58.559 --> 00:26:04.079
You know, do you think we're missing the like what where are we missing the boat or where are we making some mistakes?
00:26:04.319 --> 00:26:22.960
I let me say I don't think it's fundraisers that have this issue, um, but I think there's a national dialogue or narrative that says that people are just sticking money into donor-advised funds with no intention of giving it away and that it is um somehow hoarding or or avoiding um dispersing it.
00:26:23.119 --> 00:26:24.240
And I don't think that's true.
00:26:24.319 --> 00:26:39.759
A lot of that is, you know, if I want my children and grandchildren to also be generous, I'm going, I might set something up that's going to live in an endowment that they can continue to advise on well after I'm gone.
00:26:40.319 --> 00:26:46.640
What community foundations are uniquely designed to do is establish permanent charitable funds.
00:26:46.880 --> 00:26:55.599
You know, we can all raise a big amount of money for the community every year and give it all away and deplete it and have to start over at zero again in January, right?
00:26:55.759 --> 00:26:59.279
I mean, we all do that in our annual operating fundraising.
00:26:59.599 --> 00:27:04.160
But community foundations are in design to create perpetual funds.
00:27:04.400 --> 00:27:06.400
Now, not every fund we have is perpetual.
00:27:06.480 --> 00:27:08.400
We have choices for donors to go in.
00:27:08.559 --> 00:27:17.359
But what we're talking about is creating a fund today that's going to serve my community for a hundred years and down the road.
00:27:17.839 --> 00:27:19.759
Continue to give back to the community.
00:27:19.920 --> 00:27:20.079
Right.
00:27:20.240 --> 00:27:31.039
And so those funds can grow over time and their impact then grows over time because we're able to deploy grant dollars year after year after year instead of a one-time shot.
00:27:32.000 --> 00:27:32.400
Wow.
00:27:32.640 --> 00:27:33.839
Yeah, it's exciting.
00:27:33.920 --> 00:27:35.039
It makes me wish.
00:27:35.200 --> 00:27:38.480
Well, we'll talk, we'll get to the part about how we can all have a DAF.
00:27:38.559 --> 00:27:40.640
I'm sure we'll get to that part in a minute.
00:27:40.960 --> 00:27:43.839
So tomorrow is the big day.
00:27:44.079 --> 00:27:52.960
So that's why the the timing of this whole episode is so good because tomorrow, October 8th, is DAF Day.
00:27:53.279 --> 00:27:59.839
So if y'all haven't heard of DAF Day, it's, you know, it's a thing and you need to be ready.
00:28:00.000 --> 00:28:01.759
Um, why was it created?
00:28:01.839 --> 00:28:03.440
Why do you think they came up with it?
00:28:03.680 --> 00:28:08.559
You know, I think this is a marketing campaign more than anything.
00:28:08.720 --> 00:28:11.119
It's not like you can only give on DAF Day.
00:28:11.279 --> 00:28:11.359
Right.
00:28:11.519 --> 00:28:16.079
Your donor advice fund is going to get a two for one, you know, grant out the door on DAF Day.
00:28:16.160 --> 00:28:16.640
That's not it.
00:28:16.799 --> 00:28:23.759
It's really about raising awareness, both for nonprofits, that donor advice funds are out there and how should you be accessing them?
00:28:23.920 --> 00:28:26.000
How should you make it easy for donors to give?
00:28:26.240 --> 00:28:35.920
Also reminding donors sometimes, hey, remember that DAF you set up 10 years ago when you sold your business and needed a great tax deduction and you, you know, used for a year or two and forgot about.
00:28:36.160 --> 00:28:37.519
It's to remind them as well.
00:28:37.680 --> 00:28:40.240
So it's really about education and awareness.
00:28:40.480 --> 00:28:42.799
Um it does give us all awareness.
00:28:42.960 --> 00:28:51.680
I remember telling a group of people, uh, donors at an event, and I said something about DAF, and they said, What is DAF?
00:28:52.079 --> 00:28:55.920
And when I explained it, I mean, I could just see their minds spinning.
00:28:56.000 --> 00:28:57.839
They had just not ever heard of such a thing.
00:28:58.000 --> 00:28:58.160
Right.
00:28:58.319 --> 00:28:59.519
It was an older group.
00:28:59.920 --> 00:29:02.559
And they they just no one had told them about that.
00:29:02.640 --> 00:29:13.119
And I I thought, oh, this this group I'm talking to, all of you could probably have some very nice daffs, and then you it would be there for you to manage.
00:29:13.279 --> 00:29:13.440
Yes.
00:29:13.759 --> 00:29:14.240
And the check is a very good thing.
00:29:14.480 --> 00:29:15.599
You know what's so wonderful?
00:29:15.680 --> 00:29:29.119
I've worked with donors in the past, right as they're about to retire, and they have said, you know, I I just remember so distinctly this gentleman I worked with when I first came to the community foundation, and he was retiring from one of the big companies in our area.
00:29:29.279 --> 00:29:35.359
And he said, I have been able to give my church$10,000 a year every year while I've had this career.
00:29:35.519 --> 00:29:37.839
And he said, Next year I'm not gonna have that salary.
00:29:38.000 --> 00:29:40.160
My income is gonna go way down.
00:29:40.480 --> 00:29:42.720
He said, So I want to create a fund right now.
00:29:42.880 --> 00:29:46.799
It's my highest, this is the most money out I will ever make is this year.
00:29:47.039 --> 00:29:53.279
And I want to create a fund so I can continue to give ten thousand dollars a year to my church for the next 10 years.
00:29:53.920 --> 00:29:58.480
So he created a$100,000 donor-advised fund.
00:29:59.680 --> 00:30:01.680
We have it invested for him.
00:30:02.720 --> 00:30:04.240
We're now nine years in.
00:30:05.119 --> 00:30:10.960
There's$150,000 in that fund today, and he has given$90,000 away.
00:30:11.440 --> 00:30:17.680
He has given he has dipped into that fund every year, but it has grown beyond the$10,000 that he put in.
00:30:17.839 --> 00:30:24.400
So his 10 years of supporting his church is gonna turn into$25,000 because he did used a DAF.
00:30:24.799 --> 00:30:25.440
Yeah.
00:30:25.839 --> 00:30:26.480
Wow.
00:30:26.720 --> 00:30:28.000
I mean I'm curious.
00:30:28.240 --> 00:30:30.799
So that year, this was before he retired.
00:30:30.960 --> 00:30:35.200
So how did he what where did he get the funds to how much did he put in the street?
00:30:35.440 --> 00:30:41.519
He was a stock owner in the company, and before he retired, he had to exercise some of his stock options.
00:30:41.599 --> 00:30:46.559
So he some of it was in his investment portfolio, other was options that were sort of more privately held.
00:30:46.799 --> 00:30:50.400
So he had to convert those stock options before he retired.
00:30:50.640 --> 00:30:52.240
So he's gonna have to do something anyway.
00:30:52.480 --> 00:30:53.599
He's gonna have to do something anyway.
00:30:56.960 --> 00:30:57.599
He's still doing it.
00:30:57.839 --> 00:30:58.799
And the funds growing.
00:30:59.599 --> 00:31:00.480
Amazing.
00:31:00.799 --> 00:31:01.119
Okay.
00:31:01.519 --> 00:31:11.200
So our fundraiser friends, um, you being a fundraiser and me being a fundraiser, we're driving down the road listening to this, and we say, it's tomorrow.
00:31:11.440 --> 00:31:14.079
And I just now, I'm just now hearing about it.
00:31:14.400 --> 00:31:22.720
Calm down because Jody's gonna tell us what are three things they can do today if they weren't even prepared for DAF Day tomorrow.
00:31:22.880 --> 00:31:30.319
There are easy things they can do that it's not like they had to have had to have a full-blown marketing campaign or a strategy.
00:31:30.480 --> 00:31:34.160
What's three things they could do just to celebrate?
00:31:34.480 --> 00:31:37.039
And it's and it again, it's about awareness.
00:31:37.279 --> 00:31:42.640
So make sure your tax ID number and your legal name are easy to find.
00:31:42.880 --> 00:31:54.880
If you are an organization that is doing business as something else, make sure that, you know, there is a thing now called it's not sir it's not search engine optimization anymore.
00:31:54.960 --> 00:31:58.000
It's answer engine optimization.
00:31:58.400 --> 00:32:05.200
If somebody says, hey, chat GPT, what is the tax ID number of X?
00:32:05.759 --> 00:32:13.599
They'll be like, well, I don't know, because it doesn't refer to what their old name was and their tax ID is attached to their old name.
00:32:13.759 --> 00:32:20.720
So make sure somewhere on your website it says, we are XYZ doing business as ABC.
00:32:20.960 --> 00:32:25.920
I mean, if you think of it like this, we all have to shout out our social security number.
00:32:26.079 --> 00:32:28.799
This is our organization's social security number.
00:32:28.880 --> 00:32:34.799
So to go ahead and put it on the website, tags and and make sure it's going to the right spot.
00:32:35.039 --> 00:32:39.119
So it's like literally, we're not supposed to put our social security number on there.
00:32:39.359 --> 00:32:39.680
Not that.
00:32:39.839 --> 00:32:44.319
But we are supposed to put our tax ID number because that's the ID.
00:32:44.400 --> 00:32:46.720
That's where it can all go back no matter what the name is.
00:32:46.880 --> 00:32:48.319
You want to be searchable.
00:32:48.480 --> 00:32:49.680
You want to be findable.
00:32:49.759 --> 00:32:51.599
So don't hide that information.
00:32:51.839 --> 00:32:52.079
Yeah.
00:32:52.240 --> 00:32:54.079
You could just put up a social media post.
00:32:54.240 --> 00:32:54.720
Right.
00:32:54.880 --> 00:32:56.960
Have do you have a donor advice fund?
00:32:57.039 --> 00:32:58.960
Consider supporting our mission today.
00:32:59.599 --> 00:33:00.079
Easy.
00:33:00.400 --> 00:33:01.200
It's DAF Day.
00:33:01.359 --> 00:33:02.000
It's DAF Day.
00:33:02.240 --> 00:33:03.279
Do you know what that is?
00:33:03.680 --> 00:33:05.359
A little blurb about what it is.
00:33:05.519 --> 00:33:11.119
And then we we would love to talk to you about a donation from your donor advice fund.
00:33:11.440 --> 00:33:11.920
Easy.
00:33:12.240 --> 00:33:21.440
You can also just um query your donors or in your as you're having conversations with donors, ask them, I'm curious, do you use a donor advice fund?
00:33:22.160 --> 00:33:25.119
If they do, that's good information to have.
00:33:25.279 --> 00:33:28.319
You should note that in your their profile in your system.
00:33:28.640 --> 00:33:30.640
If they don't, you can send them to Jody.
00:33:31.359 --> 00:33:33.200
If they if they might benefit.
00:33:33.359 --> 00:33:35.440
Um, but just raising the question.
00:33:35.599 --> 00:33:36.480
Just ask the question.
00:33:36.799 --> 00:33:48.880
I mean, wouldn't it be fun on DAF Day to do a social media and say, if you have a DAF comment below and you'll get a prize or something, you give them like a gift card or one of your t-shirts or something with your logo on it.
00:33:49.039 --> 00:33:54.400
Like that could be a fun thing to just say, you know, we just want to know who, you know, do you know?
00:33:55.119 --> 00:33:55.920
Are you Daffy?
00:33:56.079 --> 00:33:59.920
Do you know what do you know what a daff is and you'll win a prize or something?
00:34:00.079 --> 00:34:11.119
Um, you could, like you said, send an email and and ask them if they have one and we're celebrating today, or just wanted you to know this is what if you've never heard of it, this is what it is.
00:34:11.360 --> 00:34:16.239
Um I think it's that these are all easy things you can do and plan for.
00:34:16.400 --> 00:34:42.239
So if you're just hearing about it today and it's October 7th and it's tomorrow, you can set a short email up, you can do a social media post, you can make sure your tax ID is on the website, you can do these easy things and then just know that over the next year, by DAF day next year in 2027, you're gonna have so much more in place that you can do something even more robust if you want to.
00:34:42.480 --> 00:34:44.159
It really doesn't have to be that hard.
00:34:44.800 --> 00:34:45.280
It really does.
00:34:45.599 --> 00:34:50.079
You don't have to feel like a success or a failure if you get a donor advice fund gift that day.
00:34:50.239 --> 00:34:50.400
Right.
00:34:50.559 --> 00:34:57.360
Let me add one more thing about donor advice funds that I think is really practical for the fundraiser and for their finance team.
00:34:57.679 --> 00:35:05.679
When a donor makes a gift to your organization by recommending a grant from the donor advice fund, you absolutely want to thank your donor.
00:35:05.760 --> 00:35:10.320
You want to steward them, but you do not issue them a charitable tax receipt.
00:35:10.480 --> 00:35:10.960
Right.
00:35:11.280 --> 00:35:16.480
They have not given you money from their checking account or from their income that year.
00:35:16.800 --> 00:35:24.320
And it's hard to remember this, but this is very important information and it's it clearly states it on the paperwork that comes in.
00:35:24.480 --> 00:35:24.639
Yes.
00:35:24.880 --> 00:35:30.960
When you get your DAF check from where they house their fund, it it explains the rules.
00:35:31.039 --> 00:35:33.679
But what Jody's saying is very important.
00:35:33.760 --> 00:35:43.280
You don't generate your normal, you you can enter it in your software as soft credit or whatever you need to do, but you do not send them a tax receipt.
00:35:43.519 --> 00:35:43.920
That's right.
00:35:44.159 --> 00:35:47.519
Send them a thank you note, send them a card.
00:35:47.679 --> 00:35:58.159
Uh, you know, when I was at previous organizations, our tax receipts were just a really personal letter about and with a mission story in it.
00:35:58.239 --> 00:36:06.079
And the very bottom of the letter actually said, you know, you're this is a charitable deduct contribution receipt for your gift.
00:36:06.239 --> 00:36:12.480
But if you um if they have given you through to you through a DAF, you can just take that little footer off of the letter.
00:36:12.559 --> 00:36:13.920
You can still send the very same letter.
00:36:14.000 --> 00:36:14.880
Just take that piece off.
00:36:15.119 --> 00:36:25.840
You just got to make sure and not put that because what we said in the beginning, they got their tax um donation and credit when they gave when they opened up their DAF fund.
00:36:26.079 --> 00:36:31.039
So they don't need another tax credit and um it c it muddies the waters if you do that.
00:36:31.280 --> 00:36:40.880
So just don't you just thank and love and support and send all the things, but take off the part about you receive no goods or services for your donation.
00:36:41.199 --> 00:36:44.800
And I will tell you that I use my donor advise fund every month.
00:36:44.960 --> 00:36:50.880
I make I make gifts into my fund every month, and I make grants out of my fund every month.
00:36:51.119 --> 00:36:52.880
And I get letters all the time.
00:36:52.960 --> 00:36:54.800
They're giving me the tax language.
00:36:54.960 --> 00:36:57.039
I'm like, I don't need this tax language.
00:36:57.840 --> 00:37:03.840
I I should not get, I don't get double dip you know, tax credit.
00:37:04.079 --> 00:37:07.679
I gave to the community foundation, I got my receipt from the community foundation.
00:37:07.840 --> 00:37:11.760
When I give through the community foundation, I should just be thanked.
00:37:12.719 --> 00:37:26.239
And it is really easy to do because usually that tax mumbo jumbo down at the bottom is easy to just like copy, like select and remove off the bottom of it and not mess up your all your letters and to be really easy.
00:37:26.320 --> 00:37:33.679
Just make a separate um uh charitable acknowledgement letter that is for DAF specifically, and then that way you don't have to delete anything.
00:37:33.760 --> 00:37:35.920
It's like this is the letter we send for DAF gifts.
00:37:36.000 --> 00:37:36.159
Yes.
00:37:36.400 --> 00:37:40.400
This is the letter we send if it's a credit card or a check or cash.
00:37:41.280 --> 00:37:42.480
That's great.
00:37:42.960 --> 00:37:43.280
Okay.
00:37:44.559 --> 00:37:51.039
Um we've we talked about ways to make our nonprofit more DAF friendly.
00:37:51.280 --> 00:38:03.199
So here we're now we're gonna transition and talk about how we we definitely know we got to encourage the DAF gifts, but now we got to make sure we don't get anyone in trouble.
00:38:03.440 --> 00:38:12.239
So we're gonna do some real life scenarios because I know I've had I've been in these situations and I know you have too.
00:38:12.480 --> 00:38:16.719
Um, so your answers are yes, no, or it depends.
00:38:16.880 --> 00:38:18.079
And then you tell us why.
00:38:18.320 --> 00:38:21.840
So the very first scenario is gonna make a lot of us laugh.
00:38:22.000 --> 00:38:23.920
It's the gala table.
00:38:24.159 --> 00:38:27.760
My donor wants to buy a table at our gala through their DAF.
00:38:28.000 --> 00:38:28.639
Can they?
00:38:29.360 --> 00:38:29.679
No.
00:38:30.239 --> 00:38:31.039
Why not?
00:38:31.280 --> 00:38:33.920
Explain the benefit issue.
00:38:34.239 --> 00:38:38.559
So here's what um is important to know.
00:38:38.800 --> 00:38:47.119
When they're buying something from you, they're buying a table, they're inviting 10 of their friends or nine of their friends to sit with you at a table.
00:38:47.280 --> 00:38:48.320
Everybody's getting dinner.
00:38:48.480 --> 00:38:53.679
They are buying the table, the in the entrance to the event, and the meal.
00:38:54.239 --> 00:38:56.719
That is called a tangible benefit.
00:38:56.960 --> 00:38:57.199
Right.
00:38:57.360 --> 00:38:58.159
They are getting something.
00:38:58.719 --> 00:38:59.599
They are getting something.
00:38:59.760 --> 00:39:04.719
They are not giving you a gift, they are buying something from you.
00:39:04.880 --> 00:39:12.800
And you can't they have gotten a full charitable contribution deduction for their gift into the fund.
00:39:13.199 --> 00:39:18.320
So they can't then turn around and use that charitable gift to buy something.
00:39:18.559 --> 00:39:18.880
Right.
00:39:19.039 --> 00:39:20.159
That's why.
00:39:20.480 --> 00:39:21.119
Right.
00:39:21.920 --> 00:39:26.079
Okay, so they respond, but I don't want the benefits.
00:39:26.320 --> 00:39:27.760
I don't care about the dinner.
00:39:27.840 --> 00:39:31.039
I don't need the benefits, just give me the table anyway.
00:39:31.519 --> 00:39:32.480
Now what?
00:39:33.119 --> 00:39:34.880
Oh, give me the table anyway?
00:39:35.119 --> 00:39:39.920
No, then that's there, you're you're cut you're um saying two things at once that don't equate.
00:39:40.239 --> 00:39:40.559
Right.
00:39:40.719 --> 00:39:52.480
Now, if the if a donor says to us, I'm gonna go to the food bank event, or I I I am going to support the food bank in and around this event.
00:39:52.559 --> 00:39:57.840
I'm going to give to them to support, but I have declined the benefits.
00:39:57.920 --> 00:40:02.320
I'm not attending, I'm not going, I'm not sending anybody in my place.
00:40:02.719 --> 00:40:09.119
We can give to the food bank for that, you know, whatever the name of the function might be.
00:40:09.360 --> 00:40:10.480
We can absolutely do that.
00:40:10.559 --> 00:40:14.480
And we will note the donor declined all benefits.
00:40:14.639 --> 00:40:17.360
But the donor has to tell us they are declining all benefits.
00:40:17.599 --> 00:40:18.159
Yes.
00:40:18.400 --> 00:40:23.280
And I know donors are lovely, wonderful, um, upright people.
00:40:23.440 --> 00:40:30.079
So they will not be telling you that I actually want the benefits if I've said I'm gonna decline the benefits.
00:40:30.159 --> 00:40:31.280
They're going to be honest.
00:40:31.519 --> 00:40:31.920
Right.
00:40:32.159 --> 00:40:32.719
Right.
00:40:32.960 --> 00:40:36.800
Um, like this one is the one that I hear a lot: splitting the payment.
00:40:36.880 --> 00:40:38.159
This is scenario for.
00:40:38.480 --> 00:40:44.000
Let's say the event ticket is$500, but the fair market value of the meal benefit is$50.
00:40:44.320 --> 00:40:49.920
So the donor says, I'll personally pay you$50 and send the other$450 from my DAF.
00:40:50.320 --> 00:40:51.119
Is that okay?
00:40:51.360 --> 00:40:53.199
That is called bifurcation.
00:40:54.079 --> 00:40:55.280
Ooh, this is a new word.
00:40:55.519 --> 00:40:57.760
You're bifurcating the gift.
00:40:57.920 --> 00:41:01.039
Part of it is tax deductible and part of it is not.
00:41:01.199 --> 00:41:04.880
So they're bifurcating the gift into two forms of payment.
00:41:05.119 --> 00:41:09.039
And it depends on the donor advice fund sponsor and their rules.
00:41:09.199 --> 00:41:09.360
Okay.
00:41:09.599 --> 00:41:14.000
Some spot donor advise fund sponsors will allow that, some will not.
00:41:14.239 --> 00:41:14.559
Okay.
00:41:14.719 --> 00:41:14.880
Cool.
00:41:15.119 --> 00:41:16.800
Call your philanthropic advisor.
00:41:17.039 --> 00:41:17.280
Yes.
00:41:17.519 --> 00:41:20.480
Where does Arkansas Community Foundation fall on that?
00:41:20.639 --> 00:41:25.280
Like, do you say just keep it, let's keep it clean all across the board and let's not do any of that?
00:41:25.519 --> 00:41:35.199
We tr we try to tell them, we'll we'll give them the whole gift, the whole amount, um, and then they have to pay separately for the tangible benefit piece.
00:41:35.519 --> 00:41:35.840
Okay.
00:41:36.239 --> 00:41:39.199
Because I have had a donor that told me that.
00:41:39.440 --> 00:41:43.760
She said, for such an ABC organization, here's what I do.
00:41:44.000 --> 00:41:50.960
Because I I do this with my staff, and then I pay for the the fair market value separately.
00:41:51.440 --> 00:41:53.679
I was like, okay, had not heard that before.
00:41:54.079 --> 00:41:54.800
Bifurcation.
00:41:54.960 --> 00:41:55.199
Yeah.
00:41:55.440 --> 00:41:58.239
Bifurcation, a new word for us all.
00:41:58.639 --> 00:42:02.559
Um scenario five, the pledge.
00:42:02.719 --> 00:42:05.679
A donor personally made a pledge to our campaign.
00:42:05.920 --> 00:42:10.000
Later they say, actually, I want my DAF to fulfill my pledge.
00:42:10.159 --> 00:42:11.760
This one happens a lot.
00:42:12.079 --> 00:42:13.360
Can they do that?
00:42:14.079 --> 00:42:24.400
What the donor can't do is say, in the pledge, I will use my donor advice fund to give you one million dollars.
00:42:24.639 --> 00:42:25.920
They can't say that.
00:42:26.960 --> 00:42:29.760
I can say, I will give you one one million dollars.
00:42:30.000 --> 00:42:34.880
Now, do you care if I give you what my one million dollars through my visa card?
00:42:35.360 --> 00:42:36.800
A checkbook.
00:42:37.440 --> 00:42:41.920
You might care about the visa card because then there's fees and you incur your fear, it goes down.
00:42:42.239 --> 00:42:44.800
Do you care how you get your million dollars?
00:42:45.760 --> 00:42:47.039
So it's okay.
00:42:47.360 --> 00:42:52.800
What's not okay is they cannot obligate because this money is not theirs any longer.
00:42:52.960 --> 00:42:57.199
It's under the community foundation's legal ownership and control.
00:42:57.440 --> 00:43:03.679
They cannot, they cannot sign a contract that implicates us because they don't have power of attorney for us.
00:43:04.000 --> 00:43:09.360
So they can say they are putting themselves on the line for that million-dollar gift.
00:43:09.519 --> 00:43:12.960
How they fulfill that pledge doesn't really matter.
00:43:13.280 --> 00:43:13.519
Okay.
00:43:13.679 --> 00:43:21.760
So the pledge is a little it's a little bit easier than it sounds when you read between the lines because it says cannot be used for a pledge.
00:43:21.920 --> 00:43:28.320
They mean on the front end, and you can't say, I'm gonna use my DAF for all these payments to my pledge.
00:43:28.559 --> 00:43:28.719
Right.
00:43:29.119 --> 00:43:34.480
You can say, My family and I are committing a million dollars, period.
00:43:35.039 --> 00:43:39.119
I committed to the Children's Safety Center um campaign.
00:43:39.760 --> 00:43:40.800
I committed to that.
00:43:41.119 --> 00:43:44.480
Mark and Jodi made a commitment to support that over five years.
00:43:45.039 --> 00:43:54.000
And every year we recommended a grant out of our donor advice fund, and that they got their money that Mark and Jodi promised.
00:43:54.719 --> 00:43:57.519
I did not commit the community foundation to that.
00:43:58.000 --> 00:43:58.320
No.
00:43:58.480 --> 00:43:59.679
So that's the wording, right?
00:44:00.159 --> 00:44:00.239
There.
00:44:00.320 --> 00:44:08.079
And a lot of us have come into that scenario and and we worry when we get the letter that says cannot be used for a pledge.
00:44:08.320 --> 00:44:13.760
Well, it just means you can't set it up that you're going to pay all your pledge payments with the DAF.
00:44:13.840 --> 00:44:14.639
You can't specify it.
00:44:14.719 --> 00:44:16.719
You cannot obligate the sponsor of your DAF.
00:44:17.039 --> 00:44:17.360
Okay.
00:44:17.519 --> 00:44:18.079
Love that.
00:44:18.239 --> 00:44:20.480
That that to me that clears up a lot.
00:44:20.559 --> 00:44:22.960
And I think it will help a lot of others too.
00:44:23.280 --> 00:44:29.280
Um, can a donor receive recognition or naming credit for a DAF grant?
00:44:29.760 --> 00:44:30.320
Absolutely.
00:44:30.559 --> 00:44:31.039
Yay.
00:44:31.280 --> 00:44:33.039
That is intangible.
00:44:33.519 --> 00:44:37.599
So um you can't you can't pick that up and eat it, right?
00:44:38.000 --> 00:44:38.320
Right.
00:44:38.559 --> 00:44:44.480
My name is gonna be on the banner, my name is gonna be on the social media, my name is gonna be on the invitation.
00:44:45.440 --> 00:44:46.880
That is priceless.
00:44:47.039 --> 00:44:47.199
Right.
00:44:47.360 --> 00:44:51.920
You can't really find dollar or you know, di a distinct dollar to that.
00:44:52.159 --> 00:45:04.400
So I love that because so many people, um, the ones that want recognition, a lot of times it's not because they want recognition as much as they want to generate more philanthropy from others.
00:45:04.719 --> 00:45:07.119
If they lead by example, maybe others will give.
00:45:07.280 --> 00:45:12.000
And that's why we we anonymous is okay, but we really prefer you share.
00:45:12.800 --> 00:45:14.239
So I'm glad to know we can do that.
00:45:14.400 --> 00:45:19.840
And a lot of times when people are saying, um, you know, I want to support this organization.
00:45:19.920 --> 00:45:22.960
And if I support at this level, they'll give me discounted tickets.
00:45:23.119 --> 00:45:24.880
I'll decline those benefits.
00:45:25.039 --> 00:45:26.800
I don't need a discounted ticket.
00:45:26.960 --> 00:45:30.559
I just want my name to be in the program that I was a supporter.
00:45:30.880 --> 00:45:34.719
And so that is it considered intangible or aka priceless.
00:45:34.960 --> 00:45:35.280
Yes.
00:45:35.440 --> 00:45:35.840
Yes.
00:45:36.079 --> 00:45:38.000
Okay, matching and challenge gifts.
00:45:38.079 --> 00:45:41.199
Can a DAF grant count towards a challenge or matching gift?
00:45:41.360 --> 00:45:41.760
Yes.
00:45:42.000 --> 00:45:42.639
Of course.
00:45:42.719 --> 00:45:42.960
Yes.
00:45:43.199 --> 00:45:44.159
Absolutely.
00:45:44.559 --> 00:45:53.760
Um, memberships, uh, like if if a nonprofit has a membership program, can it cover the membership with benefits?
00:45:54.000 --> 00:45:55.519
Not with tangible benefits.
00:45:55.679 --> 00:45:55.840
Okay.
00:45:56.000 --> 00:46:00.559
If the benefit is my name is at the top of the program, that's intangible.
00:46:00.719 --> 00:46:00.960
Right.
00:46:01.119 --> 00:46:05.760
If the benefit is I get free parking for every show, uh-huh, that is a benefit.
00:46:05.920 --> 00:46:06.719
That's a benefit.
00:46:06.880 --> 00:46:11.199
And so that cannot be or like the coffee mug and the t-shirt and all that.
00:46:11.280 --> 00:46:12.320
It's those are all tangible.
00:46:12.639 --> 00:46:21.440
And legally, there is um, if I give you$100,000 and you give me a t-shirt that costs$2.50, that's okay.
00:46:21.519 --> 00:46:22.800
It's called de minimis.
00:46:23.199 --> 00:46:30.239
You know, there's the legal term that's really not of measurable, it's it doesn't really deduct from the overall gift.
00:46:30.400 --> 00:46:32.960
So those those kinds of things are okay.
00:46:33.039 --> 00:46:53.280
But when you say for this$100,000 gift, I get to come to the museum opening and have a private dinner and br invite 20 of my friends, and we get to have a signed paint print by an artist, all of that adds up, and that is a tangible benefit.
00:46:53.519 --> 00:46:54.960
And so those are excluded.
00:46:55.199 --> 00:46:55.599
Yeah.
00:46:55.840 --> 00:46:56.079
Okay.
00:46:56.239 --> 00:47:00.800
I think we've covered this one, but this is another one that comes up a lot is sponsorships.
00:47:01.039 --> 00:47:04.159
Um, and it really goes back to the tangible benefits.
00:47:04.320 --> 00:47:08.400
If they want to sponsor and get their name on something, they can do that all day.
00:47:08.559 --> 00:47:13.840
We just can't give them the tickets and all the things that come with the sponsorship that have a tangible value.
00:47:14.079 --> 00:47:14.880
That is correct.
00:47:15.119 --> 00:47:15.599
Yeah.
00:47:15.840 --> 00:47:16.159
Okay.
00:47:16.400 --> 00:47:17.119
You got it.
00:47:17.360 --> 00:47:17.920
Yes.
00:47:18.239 --> 00:47:22.400
Um This is funny.
00:47:22.559 --> 00:47:25.599
Uh the last scenario, I think it's the last one.
00:47:25.760 --> 00:47:27.280
Every fundraiser's favorite.
00:47:27.440 --> 00:47:30.079
I've done this before, just run it through my DAF.
00:47:30.480 --> 00:47:38.400
How do we politely say, we need to make sure we're doing this correctly without initiating, without irritating a really good donor?
00:47:38.960 --> 00:47:42.239
Well, like how do we handle it when it gets a little icky?
00:47:42.559 --> 00:47:42.719
You know.
00:47:43.199 --> 00:47:51.119
Um that's really not between you and your organization, as it is as much between the donor and their DAF sponsor.
00:47:51.360 --> 00:47:51.679
Okay.
00:47:52.239 --> 00:48:01.199
It is on, this is why at the Community Foundation, we have to check every single time somebody makes a grant to make sure that nonprofit is in good standing.
00:48:01.440 --> 00:48:07.199
It's on us to uphold the rules around the the DAFs and how they operate.
00:48:07.440 --> 00:48:13.920
So um, I would tell them to talk to their donor advice fund sponsor and say what you know.
00:48:14.000 --> 00:48:19.760
You know, we're just protecting you as a donor and and our reputation as well.
00:48:19.920 --> 00:48:23.599
But so we'd like you to feel get that lined out with your advisor.
00:48:24.559 --> 00:48:26.800
With your sponsor at the donor, yeah, the donor advice fund.
00:48:27.039 --> 00:48:27.199
Yeah.
00:48:28.159 --> 00:48:28.480
Okay.
00:48:29.039 --> 00:48:31.039
Um, let's see.
00:48:31.360 --> 00:48:39.840
Now we're gonna transition to it's kind of along the lines, but this is something that I learned early on and I made it too hard.
00:48:40.000 --> 00:48:44.239
They they hear me say this a lot, that I make things too hard, and I'm learning.
00:48:44.320 --> 00:48:47.599
I'm trying to learn not to make things so hard.
00:48:48.000 --> 00:49:03.119
But if you're not some nonprofits are smaller, they don't have a lot of staff, and they hear planned giving program, and they immediately think they've got to have a bunch of dollars and an expert in all of these vehicles for planned giving.
00:49:03.280 --> 00:49:05.119
And I think it's very intimidating.
00:49:05.360 --> 00:49:15.840
So um, if they hear that all the time, like, well, we'll need an attorney on staff, or we'll need a plan giving officer, we need fancy software, we need brochures, we need money to do that.
00:49:16.159 --> 00:49:17.519
Let's start simple.
00:49:17.840 --> 00:49:19.280
Do we need any of that?
00:49:19.360 --> 00:49:20.480
Or what do we need?
00:49:20.639 --> 00:49:30.639
We can start a plan giving program basically very you know what a plan giving program means to me is kind of two things.
00:49:30.800 --> 00:49:36.320
One, have you ever received a will, a gift through somebody's estate or a planned gift before?
00:49:36.480 --> 00:49:38.320
Have you ever received a gift from a will?
00:49:38.559 --> 00:49:43.679
Well, you have a plan giving program because somebody planned a gift and gave it to you, and I mean it's working.
00:49:43.840 --> 00:49:44.400
Yes.
00:49:44.639 --> 00:49:47.920
Um, another thing is do you have a way?
00:49:48.320 --> 00:49:52.800
One, does your does your gift policy say what am I gonna do with a planned gift?
00:49:53.039 --> 00:50:02.400
So what if you're a small organization, you have a$250,000 annual budget and you get a$500,000 gift?
00:50:02.800 --> 00:50:08.880
Are you gonna next year have a$500,000 operating budget or a$750,000 operating budget?
00:50:09.119 --> 00:50:10.000
Is that your plan?
00:50:10.159 --> 00:50:12.719
Because that's not a very good plan because you can't sustain that.
00:50:12.960 --> 00:50:16.559
What are you gonna do with a windfall gift that comes from somebody's estate?
00:50:16.880 --> 00:50:23.679
Having a plan for what you will do with a legacy gift, I think is also part of a plan giving program.
00:50:24.800 --> 00:50:28.800
And um, there was a third thing I wanted to say about the plan giving program.
00:50:28.960 --> 00:50:30.559
Oh, this is the third thing.
00:50:30.800 --> 00:50:35.760
Do how do you recognize those who have made plan gifts, living or deceased?
00:50:36.400 --> 00:50:40.239
Um different organizations have different names for these.
00:50:40.480 --> 00:50:43.199
The Red Cross, I think it's the Clara Barton Society.
00:50:43.360 --> 00:50:45.519
I might be making that up or misremembering.
00:50:45.679 --> 00:50:55.360
But if I have left, if I have notified the Red Cross that I am leaving a gift in my will or estate plan, they're gonna say Jody's a part of the clan, the Clara Barton Society.
00:50:55.760 --> 00:50:58.400
So it's about have you ever received one?
00:50:58.639 --> 00:51:01.119
Do you know what you would do if you did receive one?
00:51:01.280 --> 00:51:03.920
And how will you recognize that donor?
00:51:04.239 --> 00:51:06.320
Those are the elements of a plan giving program.
00:51:06.400 --> 00:51:07.920
None of those require an attorney.
00:51:08.400 --> 00:51:15.039
None of those require memorizing what's a crat, what's a crut, what's a, you know, alphabet soup.
00:51:15.119 --> 00:51:17.840
Um it doesn't require any technicality.
00:51:17.920 --> 00:51:19.599
It doesn't require special software.
00:51:19.760 --> 00:51:26.079
It requires very practical, pragmatic thinking about have we ever received one?
00:51:26.239 --> 00:51:29.679
What do we do with it if we do, and how will we recognize that donor?
00:51:29.840 --> 00:51:32.320
That's the nuts and bolts of a plan giving program.
00:51:32.480 --> 00:51:32.800
Right.
00:51:32.960 --> 00:51:53.199
And and like the DAFs, it's so important to just share, have somewhere on something that says, would you are you interested in leaving uh organization ABC in your estate plans or in your will or um have you have you thought of where you want to leave your legacy?
00:51:53.679 --> 00:51:58.239
There's always something you can say very simply and have that added to everything.
00:51:58.400 --> 00:52:03.039
Um very subdued small font or make it bold and brassy.
00:52:03.280 --> 00:52:07.119
We don't care, but it's that is what we mean by plan giving programs.
00:52:07.920 --> 00:52:13.440
It's not having an expert that sits at a desk doing all the plan giving things.
00:52:13.599 --> 00:52:20.159
It's really just trying to connect the donor to remembering us when they're making their final plans.
00:52:20.320 --> 00:52:28.320
So, and there's all kinds of vehicles, and you can learn about them to have just enough knowledge to know what you think.
00:52:28.559 --> 00:52:32.639
But honestly, as a nonprofit, we wouldn't want to be giving that advice anyway.
00:52:32.719 --> 00:52:43.760
We would want to say, talk to your financial planner, or if you don't have a financial planner, we we have a friend over at such and such bank that would probably be a great person to talk to.
00:52:43.920 --> 00:52:50.960
Or have you talked to the Arkansas Community Foundation because they have resources that might be able to help you with what you're wanting?
00:52:51.199 --> 00:53:08.000
I like to tell folks in, especially in our region, that if you don't have a plan giving officer, and let's face it, unless you're a hospital or a university, most of our colleagues do not have a plan giving officer, a dedicated plan giving officer on their team.
00:53:08.239 --> 00:53:44.159
I tell them, think of us at the community foundation as your outsourced or your fractional planned giving officer, because we can go alongside you to visit with that donor, whether that's in person or having a little luncheon or a presentation, and talk to them about how the community foundation can make it very simple for them to leave your nonprofit organization and maybe their church and maybe their alma mater and maybe a a fourth organization all in their will or estate plan through one charitable giving vehicle at the community foundation or other ways, other places too.
00:53:44.239 --> 00:53:45.440
But and their families.
00:53:45.599 --> 00:53:52.000
Like they could they could have all their children and grandchildren in there also and then still do four other things.
00:53:52.400 --> 00:53:52.880
Absolutely.
00:53:53.039 --> 00:53:54.639
Like it's not an all or nothing.
00:53:54.800 --> 00:53:56.079
It's not all or nothing.
00:53:56.239 --> 00:54:05.599
And honestly, um, when we talk about leaving, you know, leaving part of your estate, it does it's doesn't mean Oprah's kind of money.
00:54:05.679 --> 00:54:08.000
It it's really more simple than that.
00:54:08.239 --> 00:54:12.639
If you have anything to leave, any percentage of that would help a nonprofit.
00:54:12.960 --> 00:54:21.760
Yeah, it could be a a specific dollar amount, it can be a percentage, it can be um a piece of property in an overall estate, lots of different things.
00:54:22.159 --> 00:54:35.119
How uh just one quick thing is how would you bring it up to like if you're you're talking to a donor, um, you know, I think a lot of us, you know, our voice gets high, like, well, we were just wondering if you'd leave us here with them.
00:54:35.440 --> 00:54:42.079
Like, do you do you have some um best practices of easy ways to bring it up?
00:54:42.320 --> 00:54:52.320
I know a lot of our fundraisers, they know that they need to bring it up, but I think there's an awkward moment about when you're talking about somebody and it means after they're gone.
00:54:52.719 --> 00:55:00.000
You know, you know, typically it's it's not that you say, Who's my oldest donor and let me go talk to them?
00:55:00.159 --> 00:55:03.199
That's not your best plan giving prospect.
00:55:03.519 --> 00:55:11.840
Um, they might be the soonest to to cross over, but they might not be the most likely person to leave an estate gift for you.
00:55:11.920 --> 00:55:12.079
Right.
00:55:12.320 --> 00:55:27.599
So I think that asking subtly, in whether it's in your email signature or in your newsletter or in a reply card, you know, have you considered leaving XYZ organization in your will or estate plan?
00:55:27.840 --> 00:55:33.199
Would you like more information about leaving XYZ in your will or estate plan?
00:55:33.440 --> 00:55:37.679
You can you can sort of let people raise their hand and self-identify that way.
00:55:38.000 --> 00:55:45.599
The other thing to look at is how many how which donors do you have that have given consistently over time?
00:55:46.159 --> 00:56:08.320
If you have a donor who has been giving$100 a year since you were founded, or who has been giving you$5 a month for the past five years, you know, it's that systematic every year, the money that you can count on, the money you can count on, the donors you can count on, those are where I would start having those conversations.
00:56:08.400 --> 00:56:11.760
And the great news is you probably already really know those people.
00:56:12.239 --> 00:56:20.639
Um, if they're your consistent donors, they have come to lots of events, they have interacted, they have come to tours, they're they've been volunteers, they've been passport members.
00:56:20.800 --> 00:56:29.119
So you can simply um, you know, you can simply ask them if they have a will or estate plan, does it include your organization?
00:56:29.360 --> 00:56:30.079
Just curious.
00:56:30.159 --> 00:56:30.320
Yeah.
00:56:30.480 --> 00:56:34.320
It's not a hey, yeah, wink, wink, nod, nod.
00:56:34.400 --> 00:56:36.159
Yeah, don't think you're getting close.
00:56:36.320 --> 00:56:36.639
Yeah.
00:56:37.360 --> 00:56:38.880
It's not that kind of a conversation.
00:56:39.199 --> 00:56:39.440
Yes.
00:56:39.599 --> 00:56:46.800
And I was gonna say this too, and this could be a whole different situation, but I think you'll get it too, because we're about the same age.
00:56:47.199 --> 00:56:58.960
And um, I think as I started in fundraising, I was thinking you start targeting your 60s and older about planned giving.
00:56:59.119 --> 00:57:14.559
And I have in the last, you know, when I turned 50, it's when I figured out that might be too late because when we Dwayne and I decided to talk about our um, you know, kind we we don't know anything, first of all.
00:57:14.719 --> 00:57:21.599
We needed to know something about like how can we afford college for our oldest?
00:57:21.840 --> 00:57:25.519
Um, what is our retirement even what does any of this even mean?
00:57:25.679 --> 00:57:36.320
So we went to talk to someone, and when we did, um, he said very and he was funny, he said, let me guess, you guys turned 50 recently.
00:57:37.119 --> 00:57:44.320
And I said, as a matter of fact, we did, you know, and he said, All my friends come to talk to me when they turn 50.
00:57:44.559 --> 00:57:50.400
So I started thinking, as fundraisers, we need to be thinking of the people who are 45 years old.
00:57:50.639 --> 00:57:50.960
That's right.
00:57:51.119 --> 00:57:55.519
Because they won't do it when they're 45, but something happens when you turn 50.
00:57:55.599 --> 00:58:04.639
There's a switch or a click or a something that says, I need to kind of figure out what's going on because I'm 50 years old now, right?
00:58:04.800 --> 00:58:28.639
And a lot of times our our friends who are in their 60s and 70s, they've already gotten it all set up and they don't really want to mess with change or which is another reason why you should know your local community foundation, because when you change your will or estate plan or trust documents, that requires going back to your attorney.
00:58:28.880 --> 00:58:31.440
That requires more cha-ching.
00:58:31.679 --> 00:58:36.159
I mean, it requires more money on the lawyer's time, their billable hour.
00:58:37.199 --> 00:58:52.719
So I have so many people that I work with, they have their will or estate or their trust document, and they simply say, I'm gonna give 10% of my estate to my donor-advised fund.
00:58:54.079 --> 00:58:57.360
So we can change that all the time.
00:58:57.599 --> 00:59:05.119
We could so so we say we get somebody at 45 and they have this foresight to say, Oh yeah, I'm not gonna name a different charity.
00:59:05.199 --> 00:59:11.440
I'm gonna have a donor-advised fund, and then I can change that anytime, and the community foundation won't change charge me to change that.
00:59:11.599 --> 00:59:12.719
So I'm gonna change that.
00:59:12.800 --> 00:59:14.719
I'm gonna, I'm gonna name my fund.
00:59:14.880 --> 00:59:17.840
Well, then 45 to 50, they're into one thing.
00:59:18.320 --> 00:59:22.320
Then they hit 55 to 60 and they get involved in a new nonprofit.
00:59:22.400 --> 00:59:24.719
They have more time to give because their kids are out of the house.
00:59:24.960 --> 00:59:32.639
Something, you know, God forbid, happens to a child, and then they they become avid supporters of that research or whatever.
00:59:33.039 --> 00:59:33.360
Exactly.
00:59:33.440 --> 00:59:33.840
Yeah, right.
00:59:34.000 --> 00:59:38.719
Yeah, like your lived experience informs your charitable giving priorities.
00:59:38.960 --> 00:59:44.320
It might just be where you've volunteered, a new something new popped up into town that didn't exist before.
00:59:44.400 --> 00:59:47.039
And now we have a need in our community we didn't have before.
00:59:47.199 --> 00:59:48.960
Now we have a nonprofit serving that need.
00:59:49.119 --> 00:59:52.159
Well, gosh, I want to give, leave something to them.
00:59:52.400 --> 00:59:54.159
Well, I don't have to go back to my attorney.
00:59:54.239 --> 01:00:06.880
I just go to the community foundation and say, hey, when my when I got when I go, when I'm gone and my donor-advised fund becomes my you know, endowment that's gonna live forever.
01:00:06.960 --> 01:00:10.639
And I've named these three things, my alma mater, my church, and my favorite charity.
01:00:10.960 --> 01:00:14.000
It's like beneficiaries, like life insurance kind of.
01:00:14.159 --> 01:00:14.960
Like they can adjust.
01:00:15.199 --> 01:00:17.679
They can go in and just I want to add this one.
01:00:17.840 --> 01:00:22.719
Instead of 33 and a third going to my alma mater, my church and my favorite charity.
01:00:22.880 --> 01:00:27.360
I want it to be 25% to each because I fell in love with a new charity and I want to add them.
01:00:28.079 --> 01:00:36.400
Or the other thing that we see is folks who hop from one congregation to another and say, I'm reaching that church.
01:00:36.880 --> 01:00:38.480
Yeah, I'm going to a different church now.
01:00:38.639 --> 01:00:39.119
Oh, that does.
01:00:39.440 --> 01:00:41.199
I'm gonna remove that one.
01:00:42.079 --> 01:00:44.000
Or that church closed.
01:00:44.239 --> 01:00:46.800
Or that church moved to something else.
01:00:46.960 --> 01:00:47.840
I wanna update.
01:00:48.000 --> 01:00:52.239
It doesn't cost them to update their fund at the community foundation.
01:00:52.480 --> 01:00:56.800
So it's just another reason to consider the community foundation your outsourced plan giving officer.
01:00:57.039 --> 01:01:05.599
And so with their financial planner, they just know that there's money at the community foundation, but it gives them wiggle room to switch and change and over there.
01:01:05.920 --> 01:01:25.440
And they sit through all of the documents with the attorney and all the and so the community foundation would be the plan the pay on death for their checking account, for their IRA, for their, you know, all these different kinds of ways that you can name um an entity that would avoid probate if you don't have a good will or estate plan.
01:01:25.599 --> 01:01:32.800
So when I die, you know, 10% of my estate is gonna be just automatically, after all my bills are paid, it's gonna go to my fund.
01:01:32.880 --> 01:01:37.360
And then my fund will do all the things that we already documented and laid out.
01:01:37.599 --> 01:01:37.840
Yeah.
01:01:38.000 --> 01:01:47.360
So that means um your fund could even, if if you say, I'd like to just leave the fund, even after I'm gone, I'd like to leave it open.
01:01:47.679 --> 01:01:51.679
And I'll let you guys decide or uh grandchildren.
01:01:52.400 --> 01:01:54.639
You know, my grandchildren are really into it.
01:01:54.800 --> 01:01:59.840
I would like them to meet once a year and decide where grandma and grandpa's fund is gonna go.
01:02:00.480 --> 01:02:02.800
So there's all different kinds of options and scenarios.
01:02:03.280 --> 01:02:04.960
I call it a choose your own adventure.
01:02:05.199 --> 01:02:06.320
Yes, I love it.
01:02:06.480 --> 01:02:08.000
Yes, I need to look at the clock.
01:02:08.159 --> 01:02:08.960
Okay, I think we're okay.
01:02:09.119 --> 01:02:10.079
We'll hurry.
01:02:10.400 --> 01:02:26.800
Um, so when someone does let us know, which I'd like to talk about both sides of it, if somebody lets us know that they are left that they've left our nonprofit in their um plans, um, how do we keep stewarding these people?
01:02:26.960 --> 01:02:30.159
I think I know what I would do, but I'd love to hear.
01:02:30.559 --> 01:02:33.039
I think you those are your VIPs.
01:02:33.360 --> 01:02:36.719
Those are your most very important donors.
01:02:37.119 --> 01:02:38.880
They get your everything.
01:02:39.039 --> 01:02:49.199
The annual newslet, the annual report, the newsletter, the phone call from the CEO, the invitation for a tour, any big updates that you're considering making, you talk to them.
01:02:49.360 --> 01:02:50.719
They are your inner circle.
01:02:50.880 --> 01:02:51.199
Right.
01:02:51.360 --> 01:02:53.199
There they get to know everything.
01:02:53.920 --> 01:03:01.039
And I think um, you know, one of the things that we we just don't want to take them for granted.
01:03:01.199 --> 01:03:04.320
We want to if they've already done that, that is the ultimate gift.
01:03:04.559 --> 01:03:08.159
So we've just got to keep them close, um, close to our hearts.
01:03:08.400 --> 01:03:13.920
And um, and real quick, plan giving is the long game, people.
01:03:14.000 --> 01:03:15.280
It's the marathon.
01:03:15.519 --> 01:03:21.519
So don't don't be sad if you've just started in development three years and there's no planned giving yet.
01:03:21.679 --> 01:03:22.800
You're just starting.
01:03:22.960 --> 01:03:24.960
So sometimes the planned gift happens.
01:03:25.119 --> 01:03:41.360
Like the organization I was at, Open Avenue's got a planned gift um last year, the year before, that was being developed while our executive director and I were still there, you know, years ago, and it finally came to fruition and we're not even there anymore.
01:03:41.519 --> 01:03:48.239
So you may never see the results, but if you just think of it as you're building the foundation for something that's gonna happen down the road.
01:03:48.559 --> 01:03:50.000
That's exactly how to think of it.
01:03:50.239 --> 01:03:50.880
Yeah.
01:03:51.280 --> 01:03:51.599
Okay.
01:03:52.239 --> 01:03:55.119
Um, three things that a nonprofit could do.
01:03:55.360 --> 01:03:58.000
Just say tomorrow if they just want to start.
01:03:58.079 --> 01:04:02.960
I know we've covered the easy ones, just reiterate them again, and then we're gonna move on to our lightning round.
01:04:03.199 --> 01:04:08.480
Put one sentence on your website that says, you can make a lasting difference by including us in your estate plans.
01:04:08.719 --> 01:04:08.960
Love that.
01:04:09.199 --> 01:04:11.760
Obviously, don't say us, say your organization.
01:04:11.920 --> 01:04:12.239
Yes.
01:04:12.480 --> 01:04:16.800
Um, start talking to your longtime donors about their long-term goals.
01:04:17.679 --> 01:04:23.599
And then um don't mention it once and then never bring it up again.
01:04:23.920 --> 01:04:24.480
Yes.
01:04:24.800 --> 01:04:28.639
Consistency is something that we we had on here to talk about.
01:04:28.880 --> 01:04:33.760
If it it doesn't mean that it's not happening if you don't hear, because a lot of people don't disclose.
01:04:34.000 --> 01:04:34.639
A lot of people don't know.
01:04:34.719 --> 01:04:35.519
They do not disclose.
01:04:35.760 --> 01:04:45.840
They don't want you to know because they don't want to get the fanfare and the they don't want to feel obligated, maybe well, if they change their mind, they don't want to have to come back and tell you.
01:04:46.079 --> 01:04:46.400
Yes.
01:04:46.480 --> 01:04:48.559
So And they don't have to come back and tell you.
01:04:48.719 --> 01:04:53.119
No, but they don't they feel guilty if they have told you and then they change their mind.
01:04:53.360 --> 01:04:53.599
Right.
01:04:53.760 --> 01:05:01.360
So just know that a lot a lot of times you won't know that you cultivated a planned gift until um it happens.
01:05:01.679 --> 01:05:07.440
So be consistent with the message and don't feel like nothing's happening because something is usually shifting.
01:05:07.519 --> 01:05:09.920
It's just a slow and steady process.
01:05:11.119 --> 01:05:11.679
Yes.
01:05:12.000 --> 01:05:12.320
Okay.
01:05:12.960 --> 01:05:17.199
Fundraisers need to stop being afraid of fill in the blank.
01:05:17.679 --> 01:05:24.159
Fundraisers need to be to stop being afraid of um asking.
01:05:24.400 --> 01:05:24.719
Yeah.
01:05:24.960 --> 01:05:25.440
Asking.
01:05:25.519 --> 01:05:26.400
That's exactly it.
01:05:26.719 --> 01:05:27.119
Asking.
01:05:27.360 --> 01:05:29.599
Asking for asking for a donation.
01:05:30.239 --> 01:05:30.960
Don't be scared.
01:05:31.119 --> 01:05:32.719
And asking for what you need.
01:05:32.880 --> 01:05:42.639
I, you know, a lot of times um nonprofit friends and colleagues will approach me and say, I'm gonna be asking, or I'm gonna be approaching this person.
01:05:43.440 --> 01:05:45.199
How much should I ask for?
01:05:45.920 --> 01:05:49.199
I give them every single one of them the exact same answer.
01:05:49.920 --> 01:05:51.280
Ask for what you need.
01:05:52.880 --> 01:05:57.119
Don't think that I can, oh, I might be leaving money on the table.
01:05:57.280 --> 01:05:59.760
Yeah, or I need to get as much as I can.
01:06:00.239 --> 01:06:02.880
Can ask for what you need.
01:06:03.280 --> 01:06:07.280
Just be authentic and honest and transport transparent.
01:06:07.599 --> 01:06:10.719
We need a million dollars to get there.
01:06:11.679 --> 01:06:14.239
Now, does that mean that that donor has a million dollars?
01:06:14.320 --> 01:06:16.239
No, but what if they have a hundred thousand dollars?
01:06:16.400 --> 01:06:22.079
Now you say to the next person, we need nine hundred thousand dollars to get to our goal.
01:06:22.639 --> 01:06:23.599
Ask for what you need.
01:06:23.840 --> 01:06:32.079
Or to you know, to buy the thing or to support the people or to feed the children or whatever it is, the need is the most important amount.
01:06:32.239 --> 01:06:36.400
It's not about wealth engines and that's helpful.
01:06:36.719 --> 01:06:38.000
It's not what they're capable of.
01:06:38.480 --> 01:06:42.320
It's really what do we need and what do you know they're passionate about?
01:06:42.559 --> 01:06:43.119
Yeah.
01:06:43.440 --> 01:06:43.760
Okay.
01:06:44.480 --> 01:06:50.880
The uh most underrated type of charitable gift is oh, appreciated stock.
01:06:51.679 --> 01:06:53.360
Um, appreciated stock.
01:06:53.679 --> 01:06:56.239
Appreciated asset of any kind, really.
01:06:57.039 --> 01:07:03.760
Because when somebody gives you appreciated stock, they or an asset.
01:07:04.239 --> 01:07:08.559
They are they're not only getting a tax deduction, but they're saving on their taxes too.
01:07:09.360 --> 01:07:18.000
And how what I mean by that is they are avoiding paying the capital gains taxes that it they would have to pay if they liquidated that asset.
01:07:18.559 --> 01:07:19.679
So by far.
01:07:20.000 --> 01:07:20.880
Yeah, I love it.
01:07:21.199 --> 01:07:21.760
I love it.
01:07:22.400 --> 01:07:22.719
Okay.
01:07:23.440 --> 01:07:28.639
Um the best piece of career advice you ever received.
01:07:30.159 --> 01:07:33.280
Oh, yeah, you even gave me this as a as a lead-in.
01:07:33.840 --> 01:07:38.159
Um So I think it came from my baby brother.
01:07:39.199 --> 01:07:39.920
Oh, I love it.
01:07:40.159 --> 01:07:43.760
And he didn't even know that it was really that kind of advice.
01:07:43.920 --> 01:07:46.079
But um, I called him one day.
01:07:46.239 --> 01:07:50.880
He's he was a he is a prayer kind of a prayer warrior.
01:07:51.440 --> 01:07:54.719
And sometimes I'll call I'll call in extras when I really need something.
01:07:54.880 --> 01:07:56.159
I'm like, I don't think I'm getting through.
01:07:56.239 --> 01:07:57.679
I need some help from somebody else.
01:07:57.840 --> 01:08:04.960
So I called him and I said, Hey, I need you to um pray for me that I don't get this job that I'm about to go interview for.
01:08:05.920 --> 01:08:08.320
And he laughed and he goes, What are you doing?
01:08:08.400 --> 01:08:11.920
Why are you applying for a job that you're that you don't want?
01:08:12.320 --> 01:08:20.800
And I said, Well, because there is a job that I I know that I'm gonna want to make a job change and I need to be ready because it's been a long time since I've interviewed at all.
01:08:20.880 --> 01:08:27.600
I need some practice and anyway, he said, Okay, um, so this really hasn't have anything to do with fundraising.
01:08:27.680 --> 01:08:28.960
This is career advice in general.
01:08:29.359 --> 01:08:31.199
He said, Okay, I will pray that for you.
01:08:31.359 --> 01:08:40.159
He said, But next I need you to to stop responding to job postings that are out there and applying for openings.
01:08:40.479 --> 01:08:45.520
And he said, You need to put your head down and think about what do you want to do and then go do that.
01:08:46.800 --> 01:08:49.039
And that led me to the community foundation.
01:08:50.319 --> 01:08:50.640
Okay.
01:08:51.439 --> 01:08:52.239
So that's great.
01:08:52.640 --> 01:08:58.000
Don't look for jobs that are open and that have spots to fill.
01:08:58.640 --> 01:09:02.800
Think about where you want to go and then build your path to get to the place you want to go.
01:09:03.039 --> 01:09:04.159
Yeah, I love that.
01:09:04.319 --> 01:09:07.359
I was just talking to someone yesterday that needs to hear that information.
01:09:07.439 --> 01:09:08.720
So I need to share.
01:09:09.039 --> 01:09:10.720
I need to share that with her.
01:09:11.359 --> 01:09:17.039
Um, what is something about you that has absolutely nothing to do with philanthropy?
01:09:17.199 --> 01:09:21.600
And we already we kind of said community theater, but they're nonprofits.
01:09:22.800 --> 01:09:26.800
So um, what's some quirky thing that nobody knows about Jody?
01:09:27.520 --> 01:09:28.880
Um callers?
01:09:29.039 --> 01:09:30.079
No, I'm just kidding.
01:09:30.319 --> 01:09:35.600
You can call in now and and tell us secret things about Jody that you know.
01:09:35.840 --> 01:09:38.079
Um I don't I don't have very many secrets.
01:09:38.159 --> 01:09:39.840
I'm pretty much an open book.
01:09:40.239 --> 01:09:47.199
Um I would say a lot of people don't know that my nickname is Toad.
01:09:47.840 --> 01:09:48.960
I did not know that.
01:09:49.039 --> 01:09:50.880
And I've known you for a long time.
01:09:51.199 --> 01:10:00.720
So my uncles were like 11 and probably 15 or 17 when I was born.
01:10:00.880 --> 01:10:08.319
And when they met me and my mom said, This is, you know, this is Jody, they immediately called me Jode the Toad.
01:10:08.800 --> 01:10:10.000
Jode the Toad.
01:10:10.399 --> 01:10:12.000
So that's been my nickname.
01:10:12.159 --> 01:10:12.399
Okay.
01:10:12.800 --> 01:10:14.479
And only really family calls me that.
01:10:14.720 --> 01:10:16.000
Not very many people call me that.
01:10:16.239 --> 01:10:16.720
I love it.
01:10:16.880 --> 01:10:18.319
Which is fortunate actually.
01:10:18.640 --> 01:10:20.399
Yes, and not a lot of us know this.
01:10:20.479 --> 01:10:23.760
So this is this was true uh information.
01:10:24.479 --> 01:10:24.800
Okay.
01:10:25.439 --> 01:10:27.119
Um here we go.
01:10:27.279 --> 01:10:32.000
This is the signature closing of our talk, or when I talk to anybody.
01:10:32.239 --> 01:10:38.640
I let uh, because this is the Ask Allison podcast, I let the guest ask me anything.
01:10:38.960 --> 01:10:43.520
And it doesn't have to be related to nonprofits or fundraising or philanthropy or anything.
01:10:43.680 --> 01:10:48.000
They get to ask me something, and usually I don't know the question that's coming.
01:10:48.239 --> 01:10:50.880
Yeah, you don't know because I just thought of it as I was driving over.
01:10:51.039 --> 01:10:51.680
Oh, okay.
01:10:51.920 --> 01:10:53.359
Um, I want to know.
01:10:53.600 --> 01:10:58.960
I listen to darn near every single one of your Sunday songs that you did.
01:10:59.119 --> 01:10:59.520
Oh, yeah.
01:10:59.840 --> 01:11:04.479
Starting during the pandemic and then for many months after the pandemic.
01:11:05.039 --> 01:11:12.640
So knowing that you have such a repertoire and you have sung many songs, I want to know what's your go-to karaoke song.
01:11:13.520 --> 01:11:17.840
Oh my goodness, what is my go-to karaoke song?
01:11:18.239 --> 01:11:24.479
This is so hard because when I go to karaoke, I spend most of the time trying to find the song.
01:11:24.720 --> 01:11:28.000
Yeah, which is the one that I can do that I know.
01:11:28.399 --> 01:11:35.520
Um, Barbara Streisand's always there, but at karaoke, sometimes she's not the crowd pleaser.
01:11:36.159 --> 01:11:50.159
But um, one year there was early before I had kids, there was a karaoke competition in Fayetteville, and I did um Donna Summer um Last Dance, and it was so fun.
01:11:50.319 --> 01:12:00.960
And then, you know, we were in New Orleans for AFP one time, and I went to that cat's meow, and I can't even remember what song I sang that night, but it was a it was a go, you know.
01:12:01.039 --> 01:12:04.000
I like I think I like more upbeat ones for karaoke.
01:12:05.279 --> 01:12:13.840
I'm trying to think, I guess probably disco or 70s, uh Captain and Teneal, something off the, you know.
01:12:14.399 --> 01:12:20.800
Um I might would try a Taylor Swift or something fun if it would get the crowd going.
01:12:21.279 --> 01:12:25.760
And you know, I did that for four years.
01:12:26.000 --> 01:12:27.359
I did the Sunday night song.
01:12:27.680 --> 01:12:28.079
Wow.
01:12:28.560 --> 01:12:36.640
From May of 2020, it started with the pandemic, and then do it stopped when the tornado happened.
01:12:37.199 --> 01:12:42.159
And I think it was just because in Rogers we were all just shock and awe.
01:12:42.399 --> 01:12:45.279
We were just like a tornado literally just hit Rogers.
01:12:46.079 --> 01:12:50.880
And it just seemed like there wasn't an appropriate song that week.
01:12:51.279 --> 01:12:55.920
And then the next week everybody was still out of sorts and out of play, disgruntled.
01:12:56.159 --> 01:13:00.720
And then it just seemed to kind of one Sunday led to another Sunday that I didn't do.
01:13:01.920 --> 01:13:17.279
When the momentum stops, when you take a break, whether that is doing yoga or going on a walk or what, you know, diet, when you it's so hard, it's so hard to create a habit and it's so easy to let it go.
01:13:17.520 --> 01:13:18.000
Right.
01:13:18.239 --> 01:13:20.399
So I'd I'd be it had become a habit.
01:13:20.560 --> 01:13:27.600
I would come home from church at two o'clock, I would record my song, have it all ready to hit, you know, share that night.
01:13:27.840 --> 01:13:34.640
And then it just thinks the tornado happened, and that was the catalyst that just sent me off of the habit.
01:13:35.119 --> 01:13:38.319
And I kept thinking, I need to, I need to get back into it.
01:13:38.399 --> 01:13:42.079
And then one day I thought, or I'll just do it every once in a while now.
01:13:42.239 --> 01:13:47.279
Nobody out there is paying attention to what day it is or how what year or whatever.
01:13:47.439 --> 01:13:53.279
So um I've done a couple, uh, especially if I sing at church, I'll record and maybe share those at night.
01:13:53.520 --> 01:13:55.520
But um, I did love it.
01:13:55.680 --> 01:14:06.319
And it did bring it brought me even more than I was trying to do it to help my in-laws and my mom, people that were shut in for COVID, and they were.
01:14:06.479 --> 01:14:10.000
I started by sending them to them because we couldn't see each other.
01:14:10.079 --> 01:14:10.239
Right.
01:14:10.399 --> 01:14:11.439
No one could see each other.
01:14:11.600 --> 01:14:17.119
I started by sharing with them, and then that's when they said, You are you gonna post these?
01:14:17.279 --> 01:14:18.880
And I said, Well, I hadn't thought about it.
01:14:19.039 --> 01:14:22.560
You should post it because there's people at home not able to go anywhere.
01:14:22.720 --> 01:14:24.560
They would get a kick out of it too.
01:14:24.720 --> 01:14:25.920
And and then they did.
01:14:26.079 --> 01:14:26.239
Yes.
01:14:26.479 --> 01:14:26.960
They enjoyed it.
01:14:27.279 --> 01:14:27.920
Yeah, we loved it.
01:14:28.399 --> 01:14:28.960
We loved it.
01:14:29.439 --> 01:14:33.600
And if I think of my true go-to song, I will share it.
01:14:33.840 --> 01:14:45.520
But right now, I'm a total blank because there's there's several that I love to do, especially any good duet, Islands in the stream, you know, all the the classics.
01:14:45.680 --> 01:14:45.920
Yeah.
01:14:46.159 --> 01:14:49.760
Well, that is maybe one thing I am the most envious of.
01:14:49.920 --> 01:14:54.640
If I could do anything, change anything about myself, it would be that I could sing.
01:14:54.960 --> 01:14:56.880
I would I wish that I could sing.
01:14:57.199 --> 01:14:59.119
I just don't have that.
01:14:59.359 --> 01:15:00.560
I don't have that talent.
01:15:00.720 --> 01:15:02.640
I don't have that natural whatever it is.
01:15:02.720 --> 01:15:06.000
I don't know how two of my three kids can sing.
01:15:06.159 --> 01:15:09.359
So I that's like a recessive gene somewhere that skipped me.
01:15:09.680 --> 01:15:12.239
But I would love to be able to sing.
01:15:12.319 --> 01:15:17.039
And I, I mean, I would, I probably can't sing because I would be obnoxious and people would hate me.
01:15:17.359 --> 01:15:19.119
They'd be like, what a show off.
01:15:19.439 --> 01:15:20.159
That would be me.
01:15:20.239 --> 01:15:22.079
I would be, I would just be, yeah.
01:15:22.159 --> 01:15:26.000
And and I wish I could play an instrument and read music.
01:15:26.159 --> 01:15:33.600
Like I I can figure it out, but I can't just look at a piece of paper and say, oh, it starts on an A.
01:15:33.760 --> 01:15:35.840
Like I don't know the notes or anything.
01:15:36.479 --> 01:15:48.000
And that bothers me because I I know I got my singing gift from my um dad's side of the family, all of them, him, that's where it came from.
01:15:48.239 --> 01:15:52.239
But I'm pretty sure they all knew how to read music and they all played instruments.
01:15:52.479 --> 01:15:55.279
And I just I never learned any instrument.
01:15:55.520 --> 01:15:57.680
And so we all there's always something.
01:15:57.920 --> 01:16:02.000
Now both of us could probably take lessons or learn, you know.
01:16:02.319 --> 01:16:08.079
Yeah, I took a lot of years of lessons of piano, and it's still like it's like math.
01:16:08.640 --> 01:16:11.520
You know, you can learn how to do it, but that does not mean you're not a piano.
01:16:11.760 --> 01:16:13.119
It doesn't make you a pianist.
01:16:13.359 --> 01:16:13.840
That's right.
01:16:14.000 --> 01:16:14.319
Okay.
01:16:14.880 --> 01:16:17.039
Well, um, okay.
01:16:17.359 --> 01:16:18.000
Thank you.
01:16:18.239 --> 01:16:19.359
Thank you for doing this.
01:16:19.520 --> 01:16:20.880
I know how busy you are.
01:16:21.119 --> 01:16:23.359
I did, you know, tell us about your new position.
01:16:23.439 --> 01:16:30.479
I mean, you just got a different, it's like you're doing the same thing, but you're now doing the whole state or something like that.
01:16:30.720 --> 01:16:36.479
So just tell us about we had a change in our uh in our organization in January with a new CEO.
01:16:36.800 --> 01:16:40.880
She had been our communications officer, so then we had a new communications officer.
01:16:41.039 --> 01:16:44.640
Then our chief development officer left, and our CEO said, Time out.
01:16:44.720 --> 01:16:48.479
We can't take any more new people, new positions right now.
01:16:48.720 --> 01:16:53.600
So she asked if I would step into the interim chief development officer role.
01:16:53.840 --> 01:17:01.760
So I am uh providing some stability and continuity for our organization in the in this development function, leading our team.
01:17:01.920 --> 01:17:03.039
So I am working now.
01:17:03.199 --> 01:17:09.680
Instead of Bella Visa to Russellville, which was my previous territory, I am now statewide.
01:17:09.920 --> 01:17:10.319
Wow.
01:17:10.560 --> 01:17:13.279
So but I'm out of, I'm not moving, I'm still here.
01:17:13.439 --> 01:17:13.600
Yeah.
01:17:13.760 --> 01:17:15.680
I just I just burn up the highway here and there.
01:17:16.159 --> 01:17:18.000
You get to have your you get to stay here.
01:17:18.159 --> 01:17:22.319
You just you're just driving all over Arkansas, which is what you'd be doing if you were anywhere.
01:17:22.560 --> 01:17:22.880
That's right.
01:17:22.960 --> 01:17:23.119
Yeah.
01:17:23.279 --> 01:17:23.600
Exactly.
01:17:23.840 --> 01:17:24.399
Yeah.
01:17:24.720 --> 01:17:29.039
Um, so I and same with me.
01:17:29.119 --> 01:17:31.439
So we we're going through this kind of the same time.
01:17:31.680 --> 01:17:39.760
So I have been 10 years of being a nonprofit consultant, and I told y'all in the last episode that something just happened.
01:17:39.920 --> 01:17:41.520
I don't know how to describe it.
01:17:41.680 --> 01:17:43.279
And I'm sure Jody understands this.
01:17:43.439 --> 01:17:52.159
Probably all fundraisers understand this, but an opportunity arose and I took a job at the Northwest Arkansas Food Bank as chief development officer.
01:17:52.479 --> 01:17:58.720
And I am having to go from Google for 10 years and Gmail and all those things.
01:17:58.800 --> 01:18:02.000
Now I'm back to Outlook and I don't understand it, y'all.
01:18:02.159 --> 01:18:12.079
And I've I I'm learning it is still the same as it was 10 years ago, but I'm having to get back into learning, you know, remembering, okay, on Outlook, you click here, and what does this mean?
01:18:12.239 --> 01:18:13.760
Oh, yeah, this is Outlook.
01:18:13.920 --> 01:18:19.039
And so I'm going a little crazy about that, but I am loving it so far, loving it.
01:18:19.119 --> 01:18:23.840
And and I think the call was I just want to help people get food.
01:18:24.079 --> 01:18:26.319
I want hungry people to be able to eat.
01:18:26.479 --> 01:18:37.920
And I think it just kept calling to me that if I could take my skills that I've learned and help this organization do that, that's I think that's what happened.
01:18:38.159 --> 01:18:40.000
That is it just came out of nowhere.
01:18:40.239 --> 01:18:41.760
That is caring for our neighbor.
01:18:41.920 --> 01:18:45.199
That is, I know you're a person of faith, so that is living out your faith.
01:18:45.520 --> 01:18:49.680
That is what we are here to do, is to take care of one another.
01:18:50.000 --> 01:19:11.119
And we cannot be satisfied in Northwest Arkansas with all the wonderful amenities and all the wonderful quality of life things we have when our neighbors, our neighbors who are seniors and our neighbors who are children, and our neighbors who are disabled do not know where their meals are coming from.
01:19:11.279 --> 01:19:14.399
We cannot be satisfied with our nice amenities.
01:19:14.640 --> 01:19:15.439
No, no.
01:19:15.680 --> 01:19:17.920
And I'm just gonna tell you come for a tour.
01:19:18.000 --> 01:19:19.439
I have been blown away.
01:19:19.600 --> 01:19:23.119
You'll learn right along with me all the acronyms and all the things.
01:19:23.279 --> 01:19:24.960
So come talk to me.
01:19:25.119 --> 01:19:27.520
We'll we'll go for a tour of the food bank for sure.
01:19:27.760 --> 01:19:28.079
Okay.
01:19:28.880 --> 01:19:32.239
Reminder DAF Day is tomorrow, October 8th.
01:19:32.399 --> 01:19:35.920
The one thing you learned today, do something with that tomorrow.
01:19:36.079 --> 01:19:38.880
There were, she gave us all kinds of easy things we can do.
01:19:39.039 --> 01:19:43.520
Update our website, send the email, make the call, start the conversation.
01:19:43.760 --> 01:19:47.439
And if you haven't started talking about plan giving yet, start.
01:19:47.600 --> 01:19:49.039
You don't need a huge budget.
01:19:49.199 --> 01:19:51.439
You don't need complicated programs.
01:19:51.680 --> 01:19:54.079
You just have to start and be consistent.
01:19:54.239 --> 01:19:56.560
Uh, thanks for spending time with us today.
01:19:56.720 --> 01:20:08.640
And remember, if there's anything you ever need and you have questions about fundraising, nonprofits, leadership, life, or apparently anything else, karaoke, all you have to do is ask Allison.