But did you know that planned gifts can also inspire increased annual giving? Studies have also found that donors who had made a bequest increased their annual giving, specifically in the years before and immediately following adding the charity to their will.
Case in point: Michael Garrett ’66CC, ’69LAW, ’70BUS and friend of the Columbia Libraries who has been making gifts to support annual funds across the University since 1968.
- He is a loyal donor to many parts of Columbia including: the Business School Fund, Law School Annual Fund, General Support for the Libraries, just to name a few.
- In 2011, he established a $25,000 charitable gift annuity where
the remainder will be split between the College, Law School, and the
Rare Book & Manuscript Library.
- In 2012, he documented his bequest intention to support the many parts of Columbia he cares about, which included: the Business School ($15,000 -unrestricted), Law School Annual Fund ($25,000), General Support for the Libraries ($25,000), and College Annual Fund ($35,000).
- In 2015, he increased his giving to the College Annual Fund.
Building the Donor Pipeline