Legacy giving fundraising activity set to increase
Already a number of charities are focusing fundraising efforts online on legacy giving and many more are set to follow following latest death rate analysis by Legacy Foresight.
A predicted rise in legacy giving over the next five years suggests charities are set to increasingly focus their fundraising activity on encouraging people to leave gifts in their will.
Legacy donation analyst Legacy Foresight believes there will be an extra 26,000 bequests from wills by 2024, with an average value each of £25,000. This could mean an extra £650m more legacy income for charities over the next five years.
The Legacy Foresight analysis follows latest death projections from the Office for National Statistics that by 2024 there will be 3.1m deaths, compared to 3m predicted in their last projections two years ago.
“Death rates are one of the key factors that determine the number and size of bequests charities can expect to receive,” said Legacy Foresight Development Director Meg Abdy.
“In the short to medium term these new projections will boost charity income, especially among larger charities.
“It’s important to remember that although improvements in life expectancy are not as optimistic as previously thought, people will still live longer on average than they do today. By 2050 1.5 million people will be aged 90 or over.”
Legacy giving campaigns
The figures suggest that charities are set to increasingly focus fundraising efforts on encouraging people to leave gifts in their will.
Already legacy giving has been a focus of a number of charities and charitable groups’ online and social media fundraising activity this year.
Last month animal charity WWF UK launched an online tribute fund website to help donors remember their loved ones when giving to the charity. The site has been built using WPNC’s InMem platform.
Earlier this year Cancer Research UK ran a social media and TV campaign to encourage legacy giving. This was the first campaign for three years by the charity to encourage people to leave gifts in their will.
Meanwhile, the Remember a Charity group focused its annual legacy giving week campaign this year on eye-catching social media and online promotion, evoking much loved 1970s TV shows. This enlisted the support of celebrities such as Len Goldman as well as Matt Berry, who wrote online videos for the campaign.