Planned giving refers to a gift that does not happen immediately. Gifts of cash or publicly traded stock are typically considered “current” gifts because they are transferred and used right away. In contrast, a gift of real estate, a charitable remainder trust, a bequest in a will or a beneficiary designation on a retirement account is generally considered a planned gift. These gifts are structured in advance and are realized months or years in the future.

Stewardship refers to the ongoing process of engaging donors in long-term, meaningful relationships. It’s likely not a term you use with donors, but it is an internal term that should be a part of your board’s vocabulary. Great board members are stewards trusted with ensuring that your vision, mission and goals are seen, known and upheld.