Today, the Institute of Fundraising ('Institute') has published a revised Code of Fundraising Practice: ‘Legacy Fundraising’ which clarifies best practice in soliciting legacy prospects and handling legacy gifts. In particular, it tackles the issues of undue influence and the use of incentives in legacy fundraising.
Providing guidance on best practice in soliciting legacy prospects and handling legacy gifts, the Code outlines that one-to-one legacy fundraising meetings ought not occur without potential legators having first had the opportunity to decline the meeting.
Fundraisers ought to accept the right of the individual to invite a third party of their choice to be present at any stage of the meeting, or else they run the risk of being accused of exerting undue influence, and such denial may lead to the Will being contested.
The Code also outlines that whilst charities and their agents may choose to make use of a range of incentives to promote legacy giving to potential legators, charities ought to ensure that these are of appropriate value, which will usually be of minimal cost.
Additionally, the marketing of legacies ought to be characterised by honesty, openness and fairness, with all personal information treated as strictly confidential unless explicitly agreed otherwise.
Other issues covered by the Code include:
- The use of communication channels
- Paying for wills with charity funds
- The ethics of relationships between the charity and their supporters, pledgers and potential legators
- Charities and legal information.
Commenting on the consultation, Justine Williams, Head of Public Fundraising at Practical Action and Chair of the Legacy Fundraising Code Working Party, says:
'Best practice in all aspects of legacy fundraising is essential. The purpose of this Code is to provide guidelines for legacy fundraisers and administrators in a manner that is useful, clear, and easy to understand. That's why it's important for anyone involved in legacy fundraising to read the Code and apply these guidelines within their daily work.'
Megan Pacey, Director of Policy & Campaigns at the Institute of Fundraising says:
'A legacy is often the largest gift an individual ever makes to charity, and as a fundraising mechanism, legacy fundraising remains of significant value to our sector. In our current climate of self-regulation, the Codes of Fundraising Practice are the benchmark for the FundRaising Standards Board to judge complaints of its members against – and as such it’s vital that fundraisers abide by the standards of this new Code.'
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MEDIA ENQUIRIES
For further information please contact:
Diana Mackie
Tel. 020 7840 1027
Institute of Fundraising
Email Diana Mackie
