Whenever a nonprofit charitable organization loses a long-term contributor it can be tough since finding new donors is always a difficult task. A long term contributor is someone that is a friend to the nonprofit and has an established relationship with them. They are not simply one time donors, instead the nonprofit can usually rely on them for regular contributions. Some people might want to plan ahead to make sure that a nonprofit that is near and dear to their hearts continues to receive contributions after they pass away. By funding an estate gift via an endowment a person can maintain that established relationship long after they are deceased.
See Phil McCorkle, Today’s nonprofits need forever friends, Statesman Journal, November 13, 2015.
Special thanks to Jim Hillhouse for bringing this article to my attention.
