With razor thin margins and changing reimbursement rates, hospitals and their health systems are increasingly turning to philanthropy to modernize and build facilities, fund new programs, and recruit and retain talented medical staff. In this fast-paced conversation (see link below), Jay Angeletti and Joe Tumolo of Gift Planning Development, LLC, discuss how the world of healthcare fundraising development has changed in recent years.
While the landscape is changing, historically hospital fundraising has been sporadic and focused on major capital projects. It also, for many organizations, was transactional. Planned giving should be an important part of any development program. Listen to Jay and Joe break down myths surrounding planned giving in healthcare:
- It is NOT just a transaction. This cannot be stressed enough. Too often hospital giving is just that: transactional. You give, you are thanked, life goes on. This is a culture shift that needs to happen within development programs. It is so important to build relationships with your donors; this is the key to donor longevity and opens up the possibility to multiple and larger gifts.
- Planned giving does not have to cannibalize other fundraising efforts. If cultivated correctly, a planned gift can be additive to what that donor may be already giving. Having a good relationship with the donor can make this dream a reality.
- ALWAYS steward with a buddy (or two!). You always want to have a multi-person relationship with a donor. Not only does this allow for continuity if someone is to leave the organization, it also weaves them deeper into the organization.
As more health systems begin to invest in people and programs in addition to capital, this brings new opportunities to offer long-term projects and endowments that lend themselves to planned gifts. To hear more of Jay and Joe’s discussion, click here to listen to the full podcast: https://www.stitcher.com/podcast/gift-planning-development-podcast-planned-giving-solutions-for/e/58588453