Podcast Episode #475
Legacy giving, or inherited funds, is something that churches often do not pursue. Today we discuss why that’s often a mistake and how to do so.
Some highlights from today’s episode include:
- There is a fear in churches that members will give less if they know about large amounts of endowment money sitting in the bank.
- Most pastors don’t think of fundraising for the church as part of their responsibility.
- If you don’t ask for legacy gifts for the church, some other group or institution will do so and the church will be left out.
- Legacy gifts are often based on relationships. You have to have a relationship before making the ask.
3 reasons why some church leaders don’t pursue legacy giving
- Reason #1: fear it will hurt budget giving.
- Reason #2: lack of knowledge about legacy giving
- Reason #3: discomfort with asking for legacy giving
3 reasons to pursue it:
- Reason #1: Many churches could use it.
- Reason #2: It does not have to be used for budget giving
- Reason #3: Churches should be a primary recipient of the largest transfer of wealth in history.
Resources mentioned in today’s podcast
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