Former GE CEO Jack Welch passed away this week. He once said, “Only satisfied customers can give people job security. Not companies.” I think a parallel can be applied to the philanthropic community. Charities are financially secure when they are supported by their donors. The mission may be needed by the world, talented people may work there, but without the money to support both, the nonprofit cannot flourish. It, therefore, should be a top priority for all charities to see to it that their donors are cultivated to the extent that they provide security for the future of the organization. The good news is that this objective can be accomplished while providing security to the donor as well. These dual objectives can be accomplished through creative gift planning.
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