thankQ Help

What is a Bequest?

A Bequest is a gift of the whole or part of an estate whether it is cash, real estate, vehicles, stocks and shares, works of art or collections, copyrights insurance policies or any other assets to a person or organisation as a result of the terms of a Will.

 

Bequests can be conditional on the terms of the Will and can result in fixed single payments or in a series of payments that will be distributed over a set or indefinite period of time.

 

ThankQ provides the functionality to administer and maintain Bequests along with the associated pledges and payments. It also provides the capability to produce receipts, generate financial reports and maintain associated audit information.

 

Bequest Prospecting – Search and locate contacts on your database and start prospecting them as potential bequestors.

thankQ has tools such as Affinity whereby you can score people on their engagement with your organisation. These scores can be based on criteria such as:

•If they are a Volunteer.

•If they have attended any Events.

•If they have a Membership.

•If they have supplied an email address or other contact details.

•If they have a relationship with someone else in the system.

The higher the score the more likely they will keep helping your cause. Some people may have a high engagement score but do not donate very much.

There is also Moves Management where you can set up rules like a ladder moving up and down a pyramid. These can be rules such as:

•Show me all the contacts who have donated – all those contacts move up to the first step of the ladder.

•Show me all the contacts who have donated in the last 24 months – the contacts who meet this criteria move up to the second step of the ladder run 2 and the others stay on the first level.

•Show me all the contacts who are regular donors – those contacts move up to the third step of the ladder and the others stay where they currently are.

You will be able to view the history of the contacts moving up and down the ladder as their donation patterns change over time. The rules can also be set so that they don’t all have to be the amount donations either, it could be a mixture of contact attributes, other activities with your organisation and donations.

Another tool you can use is RFM which is a marketing standard to locate people who have Bought or Donated to your organisation. RFM tracks those payments by the criteria of: Recency (last time a payment was made), Frequency (How often payments are made) and Monetary Value (How much was paid). This will also score your contacts so you can better target them.

The above three tools require some thought as to what is important to your organisation and you will need to set these up appropriately in accordance with your requirements.