​In today's highly competitive business landscape, small business owners are constantly seeking ways to differentiate themselves and enhance their market position. While traditional marketing strategies undoubtedly play a crucial role, incorporating philanthropy into your business model can provide a powerful boost. By aligning your business with a cause and actively participating in philanthropic initiatives, you not only make a positive impact on society but also strengthen your brand reputation and forge stronger connections with customers. Let's explore how philanthropy can be a game-changer for small businesses.

Building Brand Reputation
Philanthropy is an excellent avenue for small businesses to establish a positive brand reputation. By supporting a cause that aligns with your core values, you demonstrate your commitment to making a difference beyond profits. Engaging in philanthropy not only appeals to socially conscious customers but also generates goodwill among the wider community. Through targeted initiatives such as donations, volunteering, or cause-related marketing campaigns, you can create a lasting impression that fosters trust and loyalty, ultimately enhancing your market position.

Creating Emotional Connections
Philanthropy allows small businesses to connect with customers on a deeper, more emotional level. When people see a company actively involved in charitable activities, it evokes a sense of shared purpose and empathy. By communicating the impact of your philanthropic efforts through storytelling, social media, or public events, you can engage customers in a meaningful way. This emotional connection cultivates brand advocates who not only support your business but also spread positive word-of-mouth, strengthening your market position and attracting new customers.

Differentiation and Competitive Advantage
In a crowded marketplace, standing out from the competition is paramount. Philanthropy provides a unique opportunity for small businesses to differentiate themselves. By focusing on a cause that resonates with your target audience and crafting purpose-driven messaging, you distinguish your brand from others solely focused on profit. This differentiation acts as a powerful competitive advantage, attracting customers who share your values and are more likely to choose your products or services over those offered by your competitors.

As a small business owner, incorporating philanthropy into your business strategy offers a myriad of benefits. From enhancing brand reputation and creating emotional connections to differentiating your brand and gaining a competitive edge, philanthropy provides a unique avenue to improve your market position. By leveraging the power of giving back, you can not only make a positive impact on society but also strengthen your business's bottom line in the process. Embrace philanthropy as a strategic tool and unlock its transformative potential for your small business.

Fundraising is a vital aspect of nonprofit organizations, providing the necessary financial resources to support their mission and programs. Nonprofit leaders play a crucial role in driving successful fundraising efforts. To effectively navigate the complex and competitive landscape of fundraising, nonprofit leaders must possess a diverse set of skills. In this blog post, we will explore the key skills that nonprofit leaders need to succeed in fundraising and make a lasting impact on their organizations.

1. Relationship Building:
One of the fundamental skills that nonprofit leaders need for successful fundraising is the ability to build and nurture relationships. Building strong relationships with donors, supporters, and stakeholders is crucial for cultivating trust, loyalty, and long-term engagement. Effective leaders invest time in getting to know their donors personally, understanding their motivations, and tailoring their fundraising strategies accordingly. They prioritize building genuine connections based on shared values and a common vision.

2. Communication and Storytelling:
Effective communication is at the heart of successful fundraising. Nonprofit leaders must possess exceptional communication skills to convey their organization's mission, impact, and financial needs to potential donors and supporters. They should be able to craft compelling stories that evoke emotions and inspire action. By effectively communicating the importance of their cause and the impact of donor contributions, nonprofit leaders can create a sense of urgency and motivate individuals to support their organization financially.

3. Strategic Thinking:
Fundraising requires strategic thinking and planning. Nonprofit leaders must be able to analyze the funding landscape, identify potential funding sources, and develop comprehensive fundraising strategies aligned with their organization's goals. They should be capable of identifying opportunities, anticipating challenges, and adapting their strategies to changing circumstances. Strategic thinking involves setting realistic fundraising targets, developing action plans, and evaluating the effectiveness of different fundraising initiatives.

4. Financial Management:
A solid understanding of financial management is essential for nonprofit leaders involved in fundraising. They need to be knowledgeable about budgeting, forecasting, and financial reporting to ensure transparency and accountability to donors. Nonprofit leaders should have the ability to create and manage budgets, track financial performance, and demonstrate responsible stewardship of funds. By showcasing sound financial management practices, nonprofit leaders can instill confidence in potential donors and strengthen their fundraising efforts.

5. Networking and Collaboration:
Nonprofit leaders need strong networking and collaboration skills to expand their reach and access a wider donor base. Building relationships with individuals, businesses, foundations, and other nonprofit organizations can lead to strategic partnerships, shared resources, and collaborative fundraising opportunities. Effective leaders actively engage in networking events, conferences, and community gatherings to establish connections and foster mutually beneficial relationships. By leveraging these networks and collaborations, nonprofit leaders can enhance their fundraising efforts and create a larger impact.

6. Data Analysis and Evaluation:
Nonprofit leaders must have the ability to analyze data and evaluate the success of their fundraising strategies. They should be comfortable working with fundraising software and tools to track donor contributions, measure campaign effectiveness, and identify trends and patterns. By leveraging data-driven insights, nonprofit leaders can make informed decisions, refine their fundraising approaches, and optimize their efforts for better results.

Fundraising is a critical aspect of nonprofit leadership, and mastering the necessary skills is key to achieving success. Nonprofit leaders who possess strong relationship building, communication, strategic thinking, financial management, networking, and data analysis skills are better equipped to navigate the challenges of fundraising. By continuously honing these skills, nonprofit leaders can inspire donors, mobilize resources, and make a significant impact on their organizations and the communities they serve.

Hiring a contractor or consultant to perform work for your company or organization could result in significant cost savings while also providing a high level of expertise you may not be able to afford otherwise. The cost savings associated with hiring a consultant versus a permanent staff member can vary depending on several factors such as the level of expertise required, the length of the project, and the specific scope of work. Here are some potential cost savings that organizations may experience by hiring a consultant rather than a permanent staff member:

Lower Overhead Costs:

1. When an organization hires a permanent staff member, it incurs various overhead costs such as salaries, benefits, office space, equipment, and training. These costs can be significantly higher than hiring a consultant who typically works offsite and uses their own equipment.
2. Consultants are typically self-employed and are not entitled to employee benefits such as health insurance, retirement plans, paid time off, or other perks that permanent staff members may receive. This can result in significant cost savings for organizations that would otherwise have to pay for these benefits. 
3. When an organization hires a permanent staff member, they are responsible for paying certain payroll taxes such as Social Security and Medicare taxes, unemployment taxes, and workers' compensation insurance. These costs can add up and increase the overall cost of hiring a permanent staff member. In contrast, consultants are responsible for paying their own taxes, which can result in savings for the organization.
4. Consultants typically handle their own administrative tasks such as invoicing, record-keeping, and other administrative duties. This can reduce the administrative burden on the organization and result in cost savings.

Reduced Hiring Costs:

1. The process of hiring a permanent staff member can be costly and time-consuming, including advertising the position, conducting interviews, and performing background checks. Hiring a consultant eliminates many of these costs and streamlines the process, allowing organizations to focus on their core business activities.
2. A consultant typically has specialized expertise and experience in a specific area, which may be more cost-effective than hiring a permanent staff member with similar expertise. This is particularly true for short-term projects or specialized tasks that do not require a full-time staff member. With their expertise, consultants are usually senior-level leaders who you would likely be unable to afford to hire in a full-time, in-house position.
3. Consultants can be hired on a short-term or as-needed basis, providing organizations with greater flexibility in terms of budget and staffing needs. In contrast, hiring a permanent staff member requires a long-term commitment and may not be feasible for organizations with limited budgets or fluctuating staffing needs.

Hiring a consultant instead of a permanent staff member can provide significant cost savings for organizations, particularly for short-term or specialized projects. However, it is important to carefully evaluate the costs and benefits of each option before making a decision.

As a nonprofit organization, you may be familiar with the concept of tax-exempt status. However, it's important to understand that there are some types of income that are not exempt from taxes, known as unrelated business income (UBI) tax.

• According to the National Council of Nonprofits, about 30% of nonprofits have unrelated business income.
• A survey conducted by the Nonprofit Finance Fund found that 11% of nonprofits reported paying UBIT in 2018.
• The total revenue generated by UBIT for nonprofits was $9.9 billion in 2016, according to the Urban Institute.
• The number of Form 990-T tax returns filed by exempt organizations has been increasing steadily over the past decade, with a total of 45,408 returns filed in 2018.
• The most common source of UBIT for nonprofits is rental income from real estate that is not used for the organization's exempt purpose.

It's important to note that the rules and regulations around UBIT can be complex and vary depending on the specific circumstances of each organization. Nonprofits that are unsure about their obligations when it comes to UBIT should consult with a tax professional or legal counsel to ensure compliance with tax regulations.

What is Unrelated Business Income Tax?
Unrelated business income tax is a tax on income that is earned by a nonprofit organization through a trade or business that is not related to the organization's primary exempt purpose. The purpose of this tax is to prevent nonprofit organizations from using their tax-exempt status to gain an unfair advantage over for-profit businesses.
Examples of Unrelated Business Income

Here are fifteen types of income that may qualify as unrelated business income: 

1. Income from a gift shop or merchandise sales that are not related to the nonprofit's mission or purpose.
2. Advertising income from a publication that is not related to the nonprofit's mission or purpose.
3. Rental income from real estate that is not used for the nonprofit's mission or purpose.
4. Income from consulting or professional services that are not related to the nonprofit's mission or purpose.
5. Income from selling or licensing intellectual property that is not related to the nonprofit's mission or purpose.
6. Fees charged for access to a facility that is not related to the nonprofit's mission or purpose.
7. Income from a fundraising event that is not related to the nonprofit's mission or purpose.
8. Royalties from the sale of products or services that are not related to the nonprofit's mission or purpose.
9. Rental income from equipment that is not related to the nonprofit's mission or purpose.
10. Income from a joint venture or partnership that is not related to the nonprofit's mission or purpose.
11. Income from a subsidiary or affiliate that is engaged in unrelated business activity.
12. Fees charged for access to a research database or other resource that is not related to the nonprofit's mission or purpose.
13. Income from an investment in a business that is not related to the nonprofit's mission or purpose.
14. Income from a lottery or raffle that is not related to the nonprofit's mission or purpose.
15. Income from a catering or food service operation that is not related to the nonprofit's mission or purpose.

Reporting Unrelated Business Income Tax
Nonprofit organizations that earn unrelated business income are required to report it on Form 990-T, also known as the Exempt Organization Business Income Tax Return. The organization must file this form if it has gross income of $1,000 or more from unrelated business activities.

In addition to reporting the income, the organization must also calculate and pay any taxes owed on this income. The tax rate for unrelated business income varies depending on the amount of income earned, but it generally ranges from 21% to 28%.

It's important for nonprofit organizations to understand their obligations when it comes to unrelated business income tax. Failing to report or pay taxes on unrelated business income can result in penalties and potential loss of tax-exempt status.


Consequences of Not Reporting UBI
If a nonprofit fails to file Form 990-T to report their unrelated business income tax (UBIT), they may face penalties and potential loss of tax-exempt status.

The penalty for failing to file Form 990-T is $20 per day, up to a maximum of $10,000 or 5% of the organization's gross receipts, whichever is less. Additionally, if the IRS determines that the failure to file was willful, the penalty increases to $1,000 per day, up to a maximum of $50,000.

In addition to penalties, failing to report UBIT can also jeopardize a nonprofit's tax-exempt status. If the IRS determines that a nonprofit is engaged in a substantial amount of unrelated business activity and has not reported it, the organization may lose its tax-exempt status.


Unrelated business income tax can be a complex topic for nonprofit organizations to navigate, but it's an important aspect of maintaining tax-exempt status and ensuring compliance with tax regulations. By understanding what types of income qualify as unrelated business income and how to report it, nonprofit organizations can protect their tax-exempt status and continue to serve their communities in a financially responsible manner.

Corporate Social Responsibility (CSR) is everyone's job within a company. CSR initiatives should not be the sole responsibility of one department or individual within a company. Instead, CSR should be integrated into the company's culture and values, and all employees should be encouraged to contribute to CSR efforts in their own way.

All employees, from entry-level staff to executive leadership, can play a role in supporting CSR initiatives. This can include volunteering for community service events, participating in sustainability initiatives, reducing waste and energy consumption in the workplace, supporting diversity and inclusion initiatives, and advocating for ethical business practices.

By involving all employees in CSR initiatives, companies can create a culture of social responsibility and sustainability, which can have a positive impact on both the community and the company's bottom line. Additionally, involving employees in CSR initiatives can increase employee engagement, job satisfaction, and retention, which can lead to a more committed and motivated workforce.

​CSR projects should be a collective effort involving various departments and people within a business. In practice, the following departments are typically most involved in implementing CSR initiatives:

1. Marketing and Communications: This department can play a crucial role in promoting CSR initiatives to external stakeholders such as customers, suppliers, and the community. They can also communicate the company's CSR efforts through various channels, such as social media, press releases, and other marketing materials.
2. Human Resources: This department can develop and implement CSR initiatives related to employee engagement, such as volunteer programs, diversity and inclusion initiatives, and employee giving campaigns.
3. Operations: This department can implement sustainable business practices such as reducing carbon footprint, waste reduction, and responsible sourcing of materials.
4. Legal and Compliance: This department can ensure that the CSR initiatives comply with relevant regulations and legal requirements.
5. Finance: This department can allocate budgets and track expenses related to CSR initiatives.
6. Executive Leadership: The leadership team can set the tone for the company's CSR efforts and ensure that CSR initiatives are aligned with the company's strategic goals.

In addition to these departments, cross-functional teams can be established to ensure that all departments are working together to achieve the company's CSR objectives. By involving multiple departments in CSR initiatives, businesses can ensure that CSR is integrated into their overall strategy and operations.

Note: This article refers to Corporate Social Responsibility (CSR). CSR activities are also often referred to as Corporate Responsibility, ESG, Community Investment, Social Impact, and Community Relations.

If you're an employer competing for top talent in your industry, you may want to consider creating a formal plan to encourage volunteer service among employees. Working somewhere that encourages volunteer service can be important for several reasons.

• Volunteering can have significant benefits for both individuals and the community. Studies have shown that volunteering can improve mental health, reduce stress, and increase happiness and well-being. Additionally, volunteering can help build social connections and foster a sense of community and belonging.
• Companies that encourage volunteer service demonstrate a commitment to social responsibility and community involvement. This can help improve the company's reputation, build trust with customers and employees, and differentiate the company from competitors.
• Working for a company that encourages volunteer service can be an attractive benefit for employees. Many younger workers, in particular, place a high value on social responsibility and community involvement, and are more likely to be attracted to companies that demonstrate these values. Companies that encourage volunteer service can also help improve employee engagement and job satisfaction by giving employees opportunities to participate in meaningful work outside of their regular job responsibilities.

As more and more companies recognize the importance of social responsibility and community involvement, many are turning to volunteer service programs as a way to give back and make a positive impact. However, simply encouraging employees to volunteer on their own time may not be enough to create a meaningful impact. To truly make a difference, companies need to develop a formal plan to encourage and support employee volunteer service.
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Here are some reasons why your company needs a formal volunteer service plan:

1. Increases Employee Engagement: Employee engagement is a critical component of a positive workplace culture. By providing opportunities for employees to engage in meaningful volunteer service, companies can help improve employee satisfaction, foster a sense of community and connection, and increase employee retention.
2. Builds Positive Reputation: Companies that are known for their commitment to social responsibility and community involvement can build a positive reputation and gain the trust and loyalty of customers and employees. A formal volunteer service plan can help demonstrate the company's values and commitment to giving back.
3. Supports Local Communities: By encouraging and supporting employee volunteer service, companies can help support local communities and make a positive impact on the lives of others. This can help build strong relationships with local organizations and foster a sense of community and connection.
4. Improves Employee Skillsets: Volunteer service can provide employees with opportunities to develop new skills and experiences that can benefit them both personally and professionally. This can help improve employee job satisfaction and make them more valuable to the company.
5. Enhances Corporate Social Responsibility: Corporate social responsibility is becoming increasingly important in today's business landscape. By developing a formal volunteer service plan, companies can demonstrate their commitment to social responsibility and create a positive impact on society.

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A formal volunteer service plan can provide numerous benefits to both employees and companies. By supporting and encouraging employee volunteer service, companies can improve employee engagement, build a positive reputation, support local communities, improve employee skillsets, and enhance corporate social responsibility. If your company has not yet developed a formal volunteer service plan, now is the time to do so and make a meaningful impact.

Businesses partnering with nonprofits can be a win-win situation. Nonprofits can benefit from increased exposure and access to resources, while businesses can benefit from improved reputation, customer loyalty, and employee morale. However, not all partnerships are created equal. Businesses need to carefully consider several factors when choosing a nonprofit partner to ensure a successful and meaningful partnership. 

But with so many nonprofits out there, how do you choose the right one to partner with? With these factors in mind, you can create a successful partnership that benefits both your business and the nonprofit you choose to partner with.

1. Values Alignment
First and foremost, businesses should choose a nonprofit that aligns with their values and mission. A partnership should be mutually beneficial, so it's important to find a nonprofit that shares similar goals and values. For example, a business that prioritizes environmental sustainability may want to partner with an environmental nonprofit, while a business that prioritizes education may want to partner with an education-focused nonprofit. If the nonprofit's mission doesn't align with your business's values and goals, the partnership may not be as effective as it could be. Take the time to research the nonprofit's mission statement and programs to ensure that they align with your business's values and goals.

2. Due Diligence
Once a potential nonprofit partner has been identified, businesses should research the organization thoroughly. This includes reviewing their mission statement, financial statements, and impact reports. Businesses should ensure that the nonprofit is reputable, transparent, and well-run. This due diligence is crucial to avoid any red flags, such as a nonprofit with a history of mismanagement or unethical practices.

3. Track Record
Another important consideration is the nonprofit's impact and reach. Businesses should assess the nonprofit's ability to make a meaningful difference in the community or cause they support. This can include reviewing the nonprofit's track record of success and their plans for the future. How effective is the nonprofit at achieving its goals? What kind of impact has it had on the community it serves? Look for nonprofits that have a track record of success and can demonstrate the impact their programs have had. Businesses should also consider the nonprofit's reach and visibility. A nonprofit with a large and engaged following can help increase the business's exposure and reputation.
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4. Clear Expectations
In addition to impact and reach, businesses should consider the logistics of the partnership. This includes determining the scope of the partnership, setting clear goals and expectations, and establishing a timeline. Businesses should also consider the resources they are willing to allocate to the partnership, such as financial support, in-kind donations, or employee volunteer time. It's important to establish clear communication and expectations upfront to avoid misunderstandings or misaligned goals down the road.

5. Transparency
Transparency is key when it comes to nonprofit partnerships. Make sure the nonprofit you partner with is transparent about its finances, how donations are used, and the impact its programs have had. Transparency builds trust with customers and can help ensure that the partnership is successful.

6. Plan Ahead
Businesses should prioritize building a strong relationship with their nonprofit partner. This means investing time and effort into getting to know the nonprofit's leadership and staff, understanding their needs and challenges, and finding ways to support them beyond financial donations. Building a strong relationship can lead to a more impactful partnership and can also help improve the business's reputation and employee morale.

7. Collaboration
Successful partnerships require collaboration. Look for a nonprofit that is willing to work with your business to create a mutually beneficial partnership. The nonprofit should be open to your ideas and suggestions and willing to work with you to achieve your shared goals.

8. Red Flags
While there are many great nonprofits to partner with, there are also some red flags to watch out for. Here are some things to avoid when choosing a nonprofit partner:

• Lack of transparency: If a nonprofit is not transparent about its finances or how donations are used, it may be a red flag.
• Lack of impact: If a nonprofit cannot demonstrate the impact its programs have had, it may not be an effective partner.
• Lack of collaboration: If a nonprofit is not willing to work with your business to create a mutually beneficial partnership, it may not be the right partner for you.
• Controversial programs: Some nonprofits may have programs or initiatives that are controversial or divisive. Consider whether partnering with such a nonprofit could negatively impact your business's reputation.
• Avoid transactional relationships: Businesses should avoid partnerships that are purely transactional or short-term, as this can undermine the potential impact of the partnership.

Partnering with a nonprofit can be a powerful way for businesses to give back to their community, improve their reputation, and boost employee morale. However, it's important to choose a nonprofit partner carefully and thoughtfully. Businesses should prioritize finding a nonprofit that aligns with their values and mission, has a proven track record of impact and reach, and is well-run and transparent. Be sure to watch out for red flags like lack of transparency, lack of impact, lack of collaboration, and controversial programs. By building a strong and meaningful partnership, businesses and nonprofits can work together to make a positive difference in the world.

Philanthropy, the act of giving and supporting those in need, has been an important part of human society for centuries. In modern times, corporations have increasingly become involved in philanthropy, through charitable donations, community involvement, and other forms of social responsibility. Here are the top five reasons to invest in strategic philanthropy.

1. Investing in philanthropy can help corporations build a positive reputation and enhance their brand image. When a corporation supports a charitable cause, it shows that they care about more than just profits and are invested in the well-being of their community. This can lead to increased loyalty and trust from consumers, who are more likely to support a business that aligns with their values. In addition, it can also help attract and retain employees who are passionate about making a positive impact on society.

2. Philanthropy can benefit the community by addressing social issues and improving quality of life. Corporate philanthropy can take many forms, including donations to charities, community engagement initiatives, volunteer programs, and more. By supporting these efforts, corporations can help provide essential services to those in need, such as food, shelter, healthcare, education, and more. This can have a significant impact on improving the lives of individuals and families, especially in disadvantaged communities.

3. Investing in philanthropy can help corporations build relationships with stakeholders, including customers, employees, suppliers, and investors. By working together to address social issues, corporations can foster a sense of shared purpose and collaboration, which can lead to stronger relationships and increased trust. This can be especially important during times of crisis, as stakeholders are more likely to support and stand by a corporation that has shown a commitment to social responsibility.

4. Corporate philanthropy can help corporations improve their bottom line by increasing customer loyalty and sales. Studies have shown that consumers are more likely to support businesses that demonstrate a commitment to social responsibility, and are willing to pay more for products and services from these companies. This can lead to increased revenue and profits, which can then be reinvested in further philanthropic efforts.

5. Investing in philanthropy is simply the right thing to do. As members of society, corporations have a responsibility to use their resources and influence to help address social issues and improve quality of life for all. By investing in philanthropy, corporations can help create a more just and equitable society, where everyone has the opportunity to thrive.
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It is clear that investing in philanthropy is important for corporations, communities, and society as a whole. By demonstrating a commitment to social responsibility, corporations can build a positive reputation, benefit the community, build relationships with stakeholders, improve their bottom line, and make a positive impact on the world. As such, it is important for corporations to prioritize philanthropy as an essential part of their business strategy, and work to create a more just and equitable society for all.

Choosing the right bank for a nonprofit organization is a crucial decision that can have a significant impact on the organization's financial stability and ability to achieve its mission. 

Nonprofit organizations may face several unique challenges when it comes to banking, such as difficulty accessing loans or lines of credit, limited options for fee-free banking, and the need to manage donor funds and maintain transparency and accountability. Additionally, nonprofit organizations often have fluctuating cash flows, which can make it challenging to maintain consistent account balances and avoid overdraft fees.
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With so many banks and financial institutions to choose from, it can be challenging to know where to start. In this blog post, we'll explore the key factors that nonprofits should consider when selecting a bank.

1. Mission Alignment
The first and most critical factor to consider when selecting a bank for a nonprofit organization is mission alignment. The bank should share the nonprofit's values and mission, and be committed to supporting the organization's work. Nonprofits should look for banks that have a history of working with nonprofit organizations and have a track record of supporting causes that align with their mission. Because of the unique challenges related to banking for nonprofits, you will want to have a bank that has experience working with nonprofit entities.

2. Fees and Costs
Nonprofits should be mindful of the fees and costs associated with banking services. Banks typically charge fees for various services, such as account maintenance, wire transfers, and ATM usage. These fees can add up quickly and eat into the organization's budget. Nonprofits should look for a bank that offers low or no-cost banking services or provides discounts for nonprofit organizations.

3. Accessibility and Convenience
Accessibility and convenience are also critical factors to consider when selecting a bank for a nonprofit organization. Nonprofits should look for a bank that has a convenient location and offers online banking services, mobile banking, and payment processing. This will make it easier for the organization to manage its finances and access its funds when needed. If your nonprofit operates outside of your headquarters state, make sure executives can access the banking services from anywhere.

4. Customer Service
Customer service is another essential factor to consider when selecting a bank for a nonprofit organization. Nonprofits should look for a bank that provides excellent customer service and is responsive to their needs. The bank should have a dedicated team that specializes in working with nonprofit organizations and understands the unique challenges they face. Consider the availability of customer service representatives and the responsiveness of the bank's support team.

5. Security and Fraud Protection
Security and fraud protection are critical considerations for any organization, but they are especially important for nonprofits. Nonprofits should look for a bank that offers robust security features, such as two-factor authentication and fraud prevention tools. The bank should also have a system in place for quickly detecting and addressing any fraudulent activity. Ensure that the bank has robust security measures in place to protect your funds and investments from fraud or cyberattacks. Ask about their policies for data protection, encryption, and fraud prevention. Of course, you will also need to verify that the bank is FDIC insured, which means that your funds are protected up to $250,000 in case the bank fails.

6. Interest Rates and Investment Opportunities
Nonprofits should consider the interest rates and investment opportunities offered by the bank. Nonprofits should look for a bank that offers competitive interest rates on its deposit accounts and provides investment opportunities that align with the organization's financial goals.

7. Reputation
It's important to choose a bank with a good reputation and a history of stability and reliability. Look for a bank with positive reviews and feedback from other nonprofits or businesses, and consider their track record of financial performance.

Conduct due diligence and research potential banks thoroughly before making a decision. This can include reading reviews and ratings, comparing fees and services, and asking for recommendations from other nonprofits or trusted advisors.

Selecting the right bank for a nonprofit organization requires careful consideration of several factors. Nonprofits should look for a bank that shares their values and mission, offers low or no-cost banking services, is accessible and convenient, provides excellent customer service, has robust security and fraud protection measures in place, and offers competitive interest rates and investment opportunities. By taking these factors into account, nonprofits can find a banking partner that will help them achieve their financial goals and further their mission.

Nonprofit organizations have long struggled with finding the right talent for their entry-level positions. However, there is a growing pool of untapped talent that nonprofits can leverage: teenagers. By hiring youth workers, nonprofits can not only fill their entry-level roles but also enjoy a host of benefits. By investing in youth workers, nonprofits can build a stronger, more innovative, and more sustainable workforce. Of course, it is important for employers to understand and comply with these child labor laws to ensure the safety and well-being of their young employees. Employers should go above and beyond to protect the wellbeing of all employees. Child labor laws are just the bare minimum expectation of how a minor should be treated in the workplace.

Benefits of Hiring Teenagers for the Employer

1. Fresh Perspectives: Teenagers bring fresh perspectives to the workplace. They are not bogged down by conventional wisdom or industry jargon, and they can offer creative solutions to problems that may have gone unnoticed by older workers. By tapping into the creativity and energy of youth workers, nonprofits can unlock new opportunities for growth and innovation.
2. Affordable Labor: Hiring teenagers is also an affordable option for nonprofits. Youth workers are often willing to work for lower wages than older workers, which can help nonprofits save money on labor costs. This can be especially important for small nonprofits that may be operating on a tight budget.
3. Diverse Workforce: By hiring teenagers, nonprofits can also create a more diverse workforce. Youth workers come from a range of backgrounds and experiences, and they can bring unique perspectives to the workplace. This can help nonprofits better understand and serve the communities they work with.
4. Training Opportunities: Hiring youth workers also provides nonprofits with an opportunity to invest in training and development. Teenagers are often eager to learn new skills and gain experience in the workforce. By providing them with training and mentoring, nonprofits can help youth workers grow and develop into skilled professionals.
5. Long-term Benefits: Finally, hiring teenagers can also provide long-term benefits for nonprofits. Youth workers who are given the opportunity to gain experience and develop their skills are more likely to become loyal employees. This can help nonprofits build a strong workforce that is committed to their mission and values.

Of course, there are some potential challenges to hiring youth workers. Teenagers may lack experience and may require more training and supervision than older workers. However, with the right training and support, youth workers can be valuable assets to nonprofit organizations.


​Benefits of Having a Job for the Teenage Workers
Having a job in their youth can provide numerous benefits for teenagers, both in the short term and in the long term. In this research brief, we will explore these benefits in detail.

Short term benefits:

1. Money management skills: Teenagers who have jobs learn how to manage their finances, including budgeting, saving, and understanding the value of money.
2. Responsibility: A job teaches teenagers to be responsible, reliable, and accountable for their actions.
3. Time management skills: Juggling work and school responsibilities requires teenagers to manage their time effectively, which is a valuable skill that will serve them well in the future.
4. Social skills: Working with colleagues and interacting with customers helps teenagers develop their social skills, including communication, teamwork, and conflict resolution.
5. Work experience: Having a job in their youth provides teenagers with valuable work experience that they can add to their resumes, which can help them secure future employment opportunities.

Long term benefits:

1. Career readiness: Teenagers who work in their youth gain valuable experience and skills that prepare them for future careers. They also gain insight into different industries and can begin to identify their interests and strengths.
2. Financial independence: Having a job early on helps teenagers develop financial independence, which can be empowering and help them make better financial decisions in the future.
3. Better academic performance: Research has shown that teenagers who work part-time jobs perform better academically than those who do not work. This may be because working teaches teenagers important skills like time-management and prioritization.
4. Networking: Working in their youth provides teenagers with an opportunity to network with colleagues and supervisors, which can be helpful in securing future employment opportunities.
5. Confidence: Having a job in their youth can boost teenagers' confidence and self-esteem, which can have long-term positive effects on their mental health and well-being.

In addition to these benefits, research has also shown that having a job in their youth can help reduce risky behaviors like substance abuse and early sexual activity. This may be because working provides teenagers with a sense of purpose and a structured environment.

It is important to note, however, that there are also potential downsides to teenagers having jobs. Working too many hours can lead to stress and burnout, and may interfere with academic performance. Additionally, some jobs may expose teenagers to hazardous or unsafe working conditions. Employers should follow all child labor laws when hiring a teenager and monitoring their safety and work conditions.

Having a job in their youth can provide numerous benefits for teenagers, including money management skills, responsibility, time management skills, social skills, work experience, career readiness, financial independence, better academic performance, networking, and confidence. While there are potential downsides to working, the benefits outweigh the risks for most teenagers.
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Protecting Minors from Exploitation, Abuse, and Unsafe Working Conditions

Child labor laws are in place to protect minors from exploitation, abuse, and unsafe working conditions. When hiring teenagers to work, employers must adhere to these laws to ensure the safety and well-being of their young employees. Here are some of the child labor laws that employers must follow:

1. Age restrictions: The Fair Labor Standards Act (FLSA) sets age restrictions for certain types of work. For example, children under the age of 14 are generally not allowed to work, except for some limited exceptions such as delivering newspapers or working for their parents' business.
2. Hour restrictions: The FLSA also sets limits on the number of hours that minors can work. For example, 14- and 15-year-olds can work a maximum of 18 hours per week during the school year, and no more than three hours on school days. During the summer, they can work up to 40 hours per week, but no more than eight hours per day.
3. Hazardous occupations: Certain types of work are considered too dangerous for minors to perform, such as operating heavy machinery or working with hazardous chemicals. Employers must follow strict guidelines to ensure that minors are not exposed to these types of hazards.
4. Work permits: Some states require minors to obtain work permits before they can start working. Employers must ensure that their young employees have the necessary permits before they begin working.
5. Breaks and meals: Employers must provide minors with adequate breaks and meal periods during their shifts. For example, 14- and 15-year-olds must be given a 30-minute break for every five hours of work.
6. Minimum wage: Employers must pay minors at least the minimum wage required by federal or state law. Some states have different minimum wage rates for minors under the age of 18.
7. Anti-discrimination laws: Employers must also adhere to anti-discrimination laws that protect minors from harassment and discrimination based on their age, gender, race, religion, or other protected characteristics.​

It is important for employers to understand and comply with these child labor laws to ensure the safety and well-being of their young employees. Failure to do so can result in fines, legal action, and damage to the employer's reputation. By following these laws, employers can create a safe and productive workplace for all employees, regardless of their age.
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Environmental, Social and Governance (ESG) is an umbrella term used to refer to the set of standards, practices and policies that a company has in place to ensure they are taking responsibility for the environment, social issues and governance. ESG has become increasingly important as businesses become more focused on sustainability, ethical practices and the overall health of their operations.
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Small businesses, in particular, have an important role to play in ensuring that they contribute positively to society and the environment. However, monitoring ESG impacts can be challenging for small businesses, especially those with limited resources.  By monitoring their ESG impacts and tracking relevant metrics, small businesses can identify areas for improvement and take action to become more sustainable and responsible. By doing so, they can not only benefit the environment and society but also enhance their reputation and build a loyal customer base.

Small businesses can be involved in ESG in a number of ways. First, they can commit to sustainable practices and ethical operations. This can include adopting renewable energy sources, minimizing waste production and disposal, and implementing fair labor practices. Second, they can ensure they are compliant with legal regulations and labor standards. Third, they can invest in social initiatives, such as initiatives to support local communities, education and health. Finally, they can adopt corporate governance practices that are transparent and accountable.

Small businesses can monitor their ESG performance by regularly measuring their progress against their goals. This includes tracking their environmental, social and governance progress against targets, such as reducing their carbon footprint or increasing their charitable giving. Additionally, businesses can use third-party audits and assessments to measure their ESG performance and identify areas for improvement.

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Small Business Environmental Impacts (E)
Small businesses are an important part of any local economy, and with the increasing global focus on sustainability, it is important for these businesses to become more sustainable. Fortunately, there are a number of ways that small businesses can make changes to reduce their environmental impact and become more sustainable.

• One of the easiest ways to increase sustainability is to reduce energy use. This can include simple changes such as switching off lights and appliances when not in use, or investing in energy-efficient appliances and equipment. Businesses can also reduce their impact further by using solar energy, or consider switching to green energy suppliers who offer electricity generated from renewable sources.
• Businesses can also reduce their impact on the environment by reducing their waste. This can include introducing a waste management system, such as a recycling program, to reduce the amount of material that ends up in landfills. Additionally, businesses can look into ways to reduce their paper usage, such as using digital documents and online storage solutions.
• Small businesses can consider investing in green initiatives such as planting trees and green spaces. These initiatives can help to reduce carbon emissions, improve air quality, and help to create a healthier environment for businesses, employees, and customers.

Small Business Social Impacts (S)
Employers have a responsibility to ensure that the labor conditions they provide to their employees are safe, fair, and equitable. Improving labor conditions can have a positive impact on employee morale, productivity, and overall job satisfaction.

• Employers should make sure that they are abiding by all applicable labor laws and regulations. This includes ensuring that all employees are being paid the minimum wage, overtime pay, and other benefits as required. Employers should also ensure that employees are not being subjected to any kind of workplace harassment or discrimination.
• Employers should strive to create a positive workplace environment for their employees. This includes providing adequate space and resources for employees to do their jobs, offering competitive wages and benefits, and showing interest in the well-being of their employees. Employers should also promote a culture of open communication and provide employees with clear expectations and feedback.
• Employers should make sure that their employees have access to safe and healthy working conditions. This includes providing adequate safety training and ensuring that employees have access to proper safety equipment and supplies. Additionally, employers should ensure that employees are not exposed to any kind of hazardous materials or conditions that could potentially cause injury or illness.
• Employers should strive to provide meaningful opportunities for their employees to grow and develop professionally. This includes offering training and development programs, promoting internal career advancement opportunities, and providing mentorship for employees.​
• For social impacts, small businesses can track metrics such as employee turnover, employee satisfaction, and customer satisfaction. This can help them identify any issues that may be affecting their workforce or customers and take action to address them.

By taking these steps, employers can create a working environment that is safe, fair, and equitable for all employees. This will help to ensure that employees are able to perform their jobs in an optimal manner and that the employer is in compliance with all applicable labor laws and regulations.


Small Business Governance Impacts (G)
Small businesses should pay attention to their corporate governance practices. This includes ensuring that there are clear lines of communication between management and employees, that all employees have a say in decision-making, and that any corporate policies are in line with ESG considerations.   A governance policy can help ensure that the company is being managed in an ethical and responsible manner.  In terms of governance, small businesses can track metrics such as regulatory compliance and ethical conduct. This can help them ensure that they are operating in a responsible and transparent manner and that they are complying with all relevant regulations and laws.

• The first step in monitoring and setting goals related to governance is to establish a baseline of where the company currently stands. This can involve conducting an audit of the company's governance policies and procedures, as well as assessing the company's overall corporate culture. This baseline will help the company identify areas where improvements can be made and set realistic goals for the future.
• One of the most effective ways to monitor and set goals related to governance is to establish a governance committee. This committee should be made up of individuals who are independent of the company's management and have expertise in governance matters. The committee should be responsible for overseeing the company's governance policies and procedures, as well as monitoring the company's compliance with relevant laws and regulations.
• Another important step is to establish key performance indicators (KPIs) related to governance. These could include metrics such as the number of whistleblower reports received, the percentage of employees who complete ethics training, or the number of diversity and inclusion initiatives implemented. By tracking these KPIs over time, companies can assess their progress in improving their governance practices.

If you are a business owner, executive, or business leader working to make the world a better place through corporate giving and volunteerism, you may find yourself wondering how to make sense of it all. With so many terms thrown around that are used to describe business activities in philanthropy, which one can you use to help you benchmark and improve your company's Corporate Social Responsibility programs? Sometimes it's referred to as Corporate Responsibility and other times it's corporate citizenship or ESG. What is the difference of all these terms, or is there a difference at all? We hope to clear up some confusion on the topic of terminology in corporate philanthropy. 
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Corporate Social Responsibility (CSR)
Corporate Social Responsibility (CSR) is an approach taken by many businesses to actively support and contribute to the betterment of their local and global communities. This could be done through activities such as volunteering, financial donations, or by creating and implementing sustainability initiatives. CSR can be seen as a business-wide commitment to conduct business responsibly and ethically, as well as to ensure that the business is taking into account the impact of its decisions on the environment, society, and its stakeholders.

Corporate Responsibility
Corporate Responsibility is often used interchangeably with CSR, however, it is actually a broader term that encompasses the environmental, social, and economic responsibilities of a company. Corporate Responsibility is more focused on long-term initiatives that can benefit all stakeholders, such as investing in local job creation, reducing environmental impact, and promoting diversity and inclusion.

Corporate Citizenship
Corporate Citizenship is a term that is used to describe a company’s commitment to ethical and responsible business practices. This can involve activities such as supporting local charities, taking part in community-based initiatives, or by investing in social and environmental projects.  Being a good corporate citizen means taking responsibility for the impact of your business on the environment, society, and economy. It also means taking responsibility for any negative impacts your business activities may have, and working to mitigate and address those impacts.

Corporate Social Investment (CSI)
Corporate Social Investment (CSI) is a term that is used to describe a company’s commitment to investing in projects and initiatives that have a positive impact on the community. Corporate social investment is when companies invest their resources, such as their time, money and knowledge, into programs and initiatives that are aimed at improving the lives of people in their local community. This can be done through a variety of ways, such as providing volunteering opportunities, providing educational or training programs, or providing financial support to those in need.

Corporate Giving or Corporate Philanthropy
Corporate Giving and Corporate Philanthropy are terms used to describe a company’s commitment to donating to charitable causes. This could include activities such as donating money, providing volunteer services, or sponsoring local events.

Cause Marketing
Cause marketing is a marketing strategy that combines the goals of a for-profit company with the mission of a non-profit organization or cause. It allows businesses to give back to their communities and support important causes, while also promoting their own products and services. companies can also partner with non-profit organizations to create campaigns and events that support a specific cause. These campaigns can be multifaceted and include things such as social media campaigns, special events, and even product sales.
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Community Investment
Community Investment is a term used to describe a company’s commitment to investing in local initiatives that benefit the community. This could include activities such as offering internships, providing financial support to local schools, or investing in community development projects.

Environmental, Social, and Governance (ESG)
Environmental, Social, and Governance (ESG) is a term used to describe a company’s commitment to conducting business in a manner that is environmentally, socially, and economically responsible. Environmental considerations include reducing carbon emissions, conserving natural resources, and reducing pollution. This can be monitored through energy and water use, waste management, and other activities. Social considerations include promoting diversity and inclusion, supporting employee wellbeing, and engaging in responsible labor practices. This can be done through surveys, listening to employee feedback, and providing resources and support. Lastly, Governance considerations include ensuring ethical business practices, transparency in operations, and promoting sustainability initiatives.

Impact Investing
Impact investing is a type of investing that focuses on achieving both financial returns and positive social or environmental impacts. It is a form of investment that seeks to generate a measurable, beneficial social or environmental effect alongside a financial return. Impact investing can be used to fund a variety of projects, from renewable energy to affordable housing and health care. For example impact investing can fund affordable housing projects by providing housing that is affordable to lower-income households at a lower return than they may get in market rate housing. By investing in these projects, investors can help to address the issue of poverty and provide a safe and comfortable living environment to people who may not otherwise be able to afford it.

Social Impact
Social impact is a measure of the positive and negative influence a company has on its local, regional and global communities. It is often used to evaluate the effectiveness of a company's CSR initiatives, such as its environmental policies, charitable contributions, and other activities. Social impact can be measured in terms of the number of people affected, the amount of resources used, and the long-term effects of the company's actions. 

Diversity, Equity, and Inclusion (DEI)
DEI stands for Diversity, Equity, and Inclusion. It refers to the conscious and intentional efforts made by companies to create a culture that embraces and celebrates the differences among employees. DEI aims to foster an environment where everyone feels valued, respected, and supported, regardless of their race, ethnicity, gender, sexual orientation, religion, nationality, or any other characteristic that makes them unique. DEI is important for a company because it creates a competitive advantage by attracting and retaining top talent, improving employee morale and engagement, enhancing the company's reputation, and increasing innovation and creativity. When employees feel valued and respected, they are more likely to be motivated, productive, and committed to the company's mission and vision.



All of these terms are used to describe a company’s commitment to conducting business in an ethical and responsible manner. Each of these terms has its own focus and purpose, but ultimately, they all share the same goal of creating a better environment for all stakeholders. Companies have the potential to make a real difference in the lives of those around them and in the community as a whole, and this cannot be done without investing in the community.  By investing in strategic philanthropy, companies will be able to demonstrate that they are taking a responsible and sustainable approach to business operations. This can help them to stand out in the marketplace and build trust with stakeholders, customers, and employees.

All nonprofits registered as tax-exempt with the federal government must file an annual report with the IRS every year. No matter what income, asset, or activity level, your organization is required to file to maintain your active status as a 501C3 public charity or foundation.  These forms may look very scary but are relatively straightforward if you have the right information available to you. You will need detailed information about your financials so access to full bank records is key. Of course, maintaining clean records throughout the year will make filling out the tax forms a breeze.

To fill out an IRS 990 form, you will need to have an EIN, basic organizational information, financial documents and records, information about the organization’s board of directors and officers, and revenue and expenditure information. Depending on the organization’s type, you may need to provide additional information or documents.


The Five Main Types of Tax Exempt IRS 990 Forms

The IRS 990 is an annual report that tax-exempt organizations must file with the Internal Revenue Service (IRS). It provides information about the organization's mission, programs, finances, and activities. There are five main types of 990 filings, and each one has a different purpose and filing requirement.

1. Form 990-EZ. Form 990-EZ is for organizations with gross receipts of $200,000 or less in the tax year, total assets of $500,000 or less at the end of the tax year, and are not a private foundation. This form is due by the 15th day of the 5th month after the close of the organization's tax year.
2. Form 990. Form 990 is for organizations with gross receipts of more than $200,000 or total assets of more than $500,000 at the end of the tax year. It is due by the 15th day of the 5th month after the close of the organization's tax year.
3. Form 990-PF. Form 990-PF is for organizations that are classified as private foundations for federal tax purposes. It is due by the 15th day of the 5th month after the close of the organization's tax year. No matter your income or asset level, you must complete this special form if your organization is a public foundation.
4. Form 990-N (also known as the e-Postcard). Form 990-N (e-postcard) is for organizations that have gross receipts of $50,000 or less in the tax year. It is due by the 15th day of the 5th month after the close of the organization's tax year. This form should take about two minutes to complete and it is simply a way for you to check in with the IRS to let them know you are still operating. If you have receipts $50,000 or less, you may choose to file Form 990EZ but it is not required. Filing 990EZ would be a good idea if you are interested in applying for grants or plan to do work with foundations who may require full disclosure of your annual income information.
5. Form 990-T.  Form 990-T is required for any organization that has income from an unrelated business (UBI). This form is used to determine whether the organization owes any taxes on the income from business unrelated to their core public service mission. Some nonprofits have unrelated income from real estate, investments, social enterprises, and sales of goods or services, among other activities.

Each form is slightly different and provides different information. Form 990-EZ is the simplest form and is used to provide basic information about the organization. Form 990 provides more detailed information about the organization's finances, activities, and governance. The Form 990-PF is more detailed and focuses on the private foundation's activities, investments, and charitable giving. Form 990-N is the simplest form and provides basic information about the organization. Form 990-T is solely for tax exempt organizations that have unrelated business income that may be open to tax liabilities.

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Option for a Six-Month Extension to File

There is a sixth form you ought to be aware of is Form 8868 "Application for Extension of Time to File and Exempt Organization Return." If the filing deadline is coming up quickly and you do not have all of your financial and organization information ready to submit your annual report tax form, then file an extension. Completing Form 8868 will put in a request to give you permission for a 6-month extension to complete your forms. 


What happens if you do not file your IRS 990 form?
Failing to file your IRS 990 form can have serious consequences. The IRS requires organizations to submit a 990 form to remain in compliance with federal tax law. If an organization does not file a 990 form, the IRS may impose penalties and fines. These penalties can range from a small fine to the revocation of the organization’s tax-exempt status.
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In addition to penalties from the IRS, not filing a 990 form can also lead to a decrease in donations and grants from donors. Donors and grantmakers often use the 990 form to assess the legitimacy of an organization's work and its financial stability. Without the 990 form, the organization is not likely to receive donations or grants.



Blackbird Philanthropy Advisors is happy to share general information related to nonprofit tax forms, however, we are not accountants. The best way to determine how to complete these forms is by contacting a tax professional who specializes in nonprofit accounting and finance. Contact us and we would be happy to provide a referral to a trustworthy CPA who can help you.

If you're asked to serve as a member of the Board of Directors for a nonprofit organization, make sure you will be covered by Board Member D&O Insurance (Directors and Officer's Insurance). Most companies and nonprofits will cover the cost of this insurance for all board members, but if they refuse you have the option of purchasing a policy yourself. You also may want to think twice about joining a board that will not cover your exposure to financial risk. 

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What is Nonprofit Board Member Insurance?

Nonprofit board member insurance (D&O insurance) is an important protection for those who volunteer their time and expertise to serve on the board of a nonprofit organization. Think of it as a safety net that protects you as a board member. It covers board members from the risks they may face while serving on the board, such as personal liability for decisions made in the course of their duties, legal fees, and damages they may be held responsible for. D&O Insurance is a type of liability insurance that covers the legal defense costs and any settlements or judgments that may result from legal action taken against you for alleged wrongful acts or decisions made in your capacity as a board member.


Why Do Nonprofit Board Members Need D&O Insurance?

If you are a nonprofit executive leader, you should spend the money to offer a policy to your Board of Directors. Having this insurance can demonstrates a commitment to responsible governance and can attract high-quality board members who value the protection that insurance offers.

Nonprofit board member insurance is especially important in today’s world, where nonprofit organizations often take on complex and challenging projects, and face a variety of legal and financial risks. Board members are ultimately responsible for the decisions made by the nonprofit organization, and can be held personally liable for any mistakes or oversights. Even if the board member is not directly at fault, they may still be held liable for any losses or damages suffered by the organization.

It's not a matter of if a lawsuit will happen, but rather when. As a nonprofit board member, you can be held personally responsible for any decisions or actions that result in financial loss or harm to the organization or its stakeholders. Even if the allegations against you are false or baseless, the legal defense process can be lengthy and expensive. D&O Insurance can give you peace of mind so you can and focus on your role as a board member without worrying about personal financial repercussions. Nonprofit board member insurance provides financial protection for board members in the event of any legal action taken against them. It can cover legal fees associated with defending the board member against any allegations, as well as any damages that may be awarded. In some cases, this insurance may even cover the cost of settling out of court.


When is D&O Insurance Used?

D&O Insurance can be used in a variety of scenarios. Here are some examples:

• Allegations of mismanagement or financial irregularities: If someone claims that the nonprofit was mismanaged or that there were financial irregularities, D&O Insurance will provide the necessary legal defense and financial protection for the board members.
• Claims of breach of fiduciary duty: As a board member, you have a responsibility to act in the best interests of the organization and its stakeholders. If someone claims that you breached your fiduciary duty, D&O Insurance will provide the necessary legal defense and financial protection.
• Employment as an officer, director, employee, or volunteer in the corporation: Even if you're simply volunteering your time and expertise, you may still be personally liable for actions taken in the course of your volunteer service.
• Employment practices or discrimination claims: If someone claims that the organization engaged in discriminatory employment practices, D&O Insurance will provide the necessary legal defense and financial protection for the board members.
• Allegations of defamation or libel: If someone claims that you or the organization made false or damaging statements about them, D&O Insurance will provide the necessary legal defense and financial protection.

 
D&O Insurance is an essential component of any nonprofit organization's risk management strategy. As a board member, having this insurance in place can provide peace of mind and protect you from personal financial loss in the event of a lawsuit. It's important to ensure that the nonprofit you are involved with has this coverage in place to protect both the organization and its board members.

Having the right insurance in place can help protect board members from any financial losses they may face due to their involvement in a nonprofit organization. It can also help to reduce the risk of financial ruin for the organization itself, as well as for its board members.
If you need help finding a reputable, trustworthy risk management advisor for your nonprofit organization, contact us and we can help point you in the right direction.

Estate planning requires juggling a variety of decisions involving property, money, and entities. When trying to decide what happens to your valuable possessions, many will usually set aside something to loved ones while also dedicating some of their fortune to a good cause. Those interested in pursuing a philanthropic option can do so by seeking out nonprofit organizations whose missions closely align with your values. When these plans are incorporated, it is known as “planned giving.” 

The trend used to be that many philanthropists would leave behind a trust or a foundation for giving to occur after they have passed. The responsibility then falls on heirs to ensure organizations are being properly funded and your wishes are being carried out. But, this tradition has become a way of the past. Many are choosing to give actively throughout their lives rather than saving everything for later. There’s plenty of good that can come from choosing to engage in philanthropy now rather than the future but it is understandable that many considerations come into play when deciding this. ​

One of the considerations that comes up when you decide to participate in charitable giving is the topic of anonymity. Depending on the type of person you are and the effects you are looking for, giving anonymously may seem like the way to go rather than making your donations well-known to everyone. There’s arguments for each side and ultimately, the decision is up to you. Before making your next philanthropic move, weigh the advantages and disadvantages of giving anonymously and publicly. 
Giving Anonymously
​There are plenty of factors that go into making the decision to be anonymous in your giving. These can include your background, the organization you are supporting, etc. Here are the advantages and disadvantages associated with giving anonymously:

Disadvantages

• Giving anonymously keeps you from being recognized for your work. 
• This could keep you from being part of the decision making process when funds are distributed within the organization.
• Your motives for giving may be questioned under some circumstances.

Advantages 

• The focus is kept on the organization rather than the individual donor.
• You will not be overwhelmed with requests from other organizations for donations.
• You can keep the causes you support private if they are ones that would cause controversy among people in your life.
• Your name is kept out of the public eye which can be beneficial for  privacy.

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​Giving Publicly
Disadvantages

• People have insight into your financial ability which can be dangerous in some situations.
• You may be expected to give the same amount consistently which could stretch your limits. 
• When certain philanthropic issues rotate into the media cycle, people will look to you for action and you may be expected to donate to all types of causes. 

Advantages

• Making your charitable contributions known can inspire others to donate. 
• You can build a good reputation within your community. 
• You don’t have to be secretive about organizations you are actively involved with financially which allows you to talk about your passions to others. 
• GIving publicly helps you open up more opportunities for discovering similar organizations to contribute to. 

Public donations are preferred by many organizations and offer them more opportunities and benefits than you may realize. For example, the more donors they are able to publicly include on their list, the more likely they are able to grow their work with the community. Not only does your donation help fund their projects, you name attached to a charitable gift can be used to help elevate fundraising efforts, create compelling stories, and help the organization build a relationship with you as a donor.