Lesson 5: Patience is a virtue. Unlike the wheat farmer, who plants and harvests within a period of a few months, the walnut grower waits 20-30 years. While planned givers once considered the likely period being the making of a bequest and its distribution, evidence suggests that the average interval may be getting longer. Why? Several research studies indicate that people are making wills earlier than previously thought.
That’s not all—life expectancy is rising. While you may have to wait longer for planned gifts, like walnut trees yield walnuts every year, your donors also yield annual “crops” . . . and your bequest donors will very likely remain solid, reliable annual gift donors throughout their lives.
Lesson 6: Respect the differences. There are many varieties of walnut trees, and even more among donors. Some want to be recognized publicly; others want their gifts to be private. Some give for purely philanthropic motives; others want to know the financial advantages of their gifts. While research indicates donors are unlikely to remove a charitable cause from their wills, some want to keep the right to change.
Make sure donor preferences are recorded, so your associates and successors know to take as good care of them as you do.
Author: Renee Durnin, CFRE
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