In the nonprofit sector, building a strong financial foundation for the future is crucial. One of the most powerful ways to ensure long-term sustainability is through endowment and legacy giving. Recently, we had the opportunity to participate in the Growth Pathway Program hosted by the Rose Community Foundation, and the insights we gained are helping us reshape and reframe the way we approach this type of fundraising for the Denver Public Schools Foundation.
A legacy gift is a way to give, similar to writing a check or donating via credit card, and can come in various forms including designating a portion of one’s will or estate. Meanwhile, an endowment is intended to be a permanent and self-sustaining source of funding, where an organization invests money, only having access to spend the distributions or earnings. Once received by an organization, a legacy gift can contribute to an endowment.
Here are some of the key lessons we learned—and how they’ll inform our strategy going forward.
Embracing the Long-Term View
An endowment fund is a long-term commitment, not something that can be accomplished quickly. At the start of the Growth Pathway session when formulating our plan, we initially felt pressure to hit specific milestones within tight timelines, but quickly realized this approach wasn’t realistic for us and our organization. By stepping back and embracing a long-term view, we made the space to think critically about our future needs and make decisions that would serve us not just in the next year, but over the next decade and beyond.
Patience in this process is key. It’s not about slowing down; rather, it’s about pacing ourselves for sustainable progress. Realistic timelines allow for better decision-making and ultimately more effective outcomes. While it may seem counterintuitive in a fast-paced world, allowing ourselves the time to think through challenges has been one of the most valuable lessons we’ve learned.
The Value of Shared Learning and Collaboration
One of the greatest benefits of the Growth Pathway Program was the chance to connect with other organizations facing similar challenges. Through shared learning, we discovered new strategies and approaches that others had used successfully in their own endowment and legacy campaigns. This exchange of ideas helped us think differently about our own strategies, leading to better informed decisions.
Additionally, the experience reinforced that nonprofit work is a continual learning process. Whether it was adjusting our timeline or refining our approach, we learned to see challenges as opportunities to grow and improve.
Collaboration as a Catalyst for Innovation
Engaging with other organizations and stakeholders sparks new ideas and innovative approaches. Collaboration doesn’t just help you solve problems; it often leads to fresh thinking and creative solutions. By sharing knowledge and experiences with the broader nonprofit community, we were exposed to strategies we hadn’t previously considered. These insights were instrumental in shaping how we will move forward with our own endowment and legacy giving efforts.
Legacy Giving: Accessible to All
As we look to the future, we’re placing a greater emphasis on legacy giving. It’s often seen as an exclusive giving vehicle for the ultra-wealthy, but the reality is that legacy gifts come in many forms, and they’re accessible to far more people than you might think.
Many individuals who contribute to endowment funds do so through gifts of stock or by pledging a portion of their estate when they pass away. Legacy giving doesn’t have to involve large six-figure sums or “name on a building” type gifts. In fact, even smaller gifts can have a profound, lasting impact and loyal donors of even $100 or less a year are oftentimes the best legacy prospects.
This is something we plan to emphasize more in the coming year. We’re committed to educating our supporters about the different ways they can contribute to the DPS Foundation’s endowment, whether that’s through appreciated stock, retirement assets, or bequests in wills. When talking with potential donors, it’s important to remember that this kind of giving is accessible for everyone. Teachers, staff, and everyday supporters of the DPS Foundation can participate in legacy giving, too. In fact, The average person can leave a meaningful contribution to help sustain our work for years to come– and to ensure their own personal legacy lasts far after they’re gone.
Moving Forward
As we move forward with our endowment and legacy giving strategy, the lessons of flexibility, patience, and collaboration will continue to guide us. The best time to start building an endowment may have been yesterday, but the second-best time is today. We are committed to applying everything we’ve learned from our current and past experiences—continuing to embrace flexibility, collaborate with others, and take a long-term view as we build a strong financial future for the Denver Public Schools Foundation.
This is an exciting next step for us, and we’re looking forward to embracing legacy giving as a powerful and accessible way for all members of our community to contribute to the future of DPS and help us build our endowment for a sustainable future. Whether you’re an educator, a parent, or a community member, your gift—no matter the size—can help us build a legacy that will support our students for generations to come.
