Going for the gold You can’t afford not to pursue planned gifts
Going for the gold — You can’t afford not to pursue planned gifts
Research suggests that the average planned gift in the United States falls between $35,000 and $70,000 — and with the baby boomer generation moving into their retirement years, that number may grow. Yet many nonprofits, especially small and medium-size organizations, lack formal planned giving programs. This article discusses the benefits of such programs and specifically examines bequests, charitable gift annuities and charitable remainder trusts. But there are some potential pitfalls of planned giving programs, and a sidebar shows how to avoid them.
For-profit subsidiaries — Create your own funding source
To be less dependent on others for their survival, nonprofits could consider forming their own for-profit subsidiary. Avoiding unrelated business income is the top reason why not-for-profits create a for-profit enterprise — but such enterprises can also offer greater flexibility on issues such as compensation and access to financing. Yet, as this article explains, establishing a separate entity has its own costs and complexities, such as management, personnel, tax, audit and other requirements.
Tips for contacting your state legislators
Many nonprofits nationwide continue to be plagued by state budget cuts. Nonprofits may want to petition their legislators for a break, but do they know what to say to keep that grant money coming in or to get that state contract renewed? This article offers four tips for nonprofit executives to follow when approaching their legislators.
News for Nonprofits
This issue’s “News for Nonprofits” reports on a survey showing that board members who may be personally generous are wallflowers when it comes to asking for donations. It also discusses a couple of ideas presented at a recent “innovations in philanthropy” summit.
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