Foundation bankruptcy worries donors
Some $25 million in assets held by 9,000 donor-advised funds at the National Heritage Foundation were liquidated in the wake of the funder’s bankruptcy filing, The New York Times reported Nov. 11 (see National Heritage Foundation story). The money was used to make payments to 107 people who held charitable gift annuities at the foundation, not to the donors who had contributed the donor-advised funds.
More switching from for-profit to nonprofit careers
With the economic downturn leaving more professionals jobless, an increasing number are considering a switch to a career in nonprofits, even though the transition typically means a significant pay cut, The New York Times reported Nov. 11 (see nonprofit career story). One former investment banker left a six-figure salary to make $25,000 a year working at a foundation that encourages children to play chess.
Nonprofits increasingly look to social networking
Now that social media is maturing, some say nonprofits should use the new technologies to raise donations, awareness and encourage volunteerism, The New York Times reported Nov. 11 (see social-media fundraising story). Currently, about eight in 10 of the top 200 U.S. charities are using social networking, says a new study from the Center for Marketing Research.
Cause-related marketing boosts sales, helps nonprofits
While cause marketing can provide consumers with a “clear-conscience” reason to buy, it also can boost consumer optimism, which leads to more spending, The Houston Chronicle reported Nov. 11 (see cause marketing story). Target, Toys ‘R Us, Macy’s and other mega-retailers are planning cause-related marketing efforts for the holiday season.
Philadelphia nonprofits join forces to replace United Way funding
After losing funding from their local United Way, seven Philadelphia-area nonprofits are launching a joint marketing effort to raise replacement funds, The Philadelphia Inquirer reported Nov. 12 (see Philadelphia nonprofits story). The local Salvation Army, YMCA and Boy Scouts, among others, formed GivePhilly, where donors can support one or all of the groups.
California Latinos underrepresented in nonprofit leadership
More than one in three Californians are Latino, but only 6 percent lead nonprofits in the state, and only 9 percent sit on nonprofit boards, says a study by the Urban Institute, The San Jose Mercury News reported Nov. 11 (see Latino nonprofit leadership story). Latinos also trail Asians and blacks in nonprofit leadership and employment in California.
Buffalo-area nonprofits get creative in face of budget woes
Buffalo, N.Y.-area nonprofits large and small are struggling to manage increased demand in the face of declining revenues, and many are looking at new ways to bring in money, Business First of Buffalo reported Nov. 12 (see Buffalo nonprofits story). Some are considering earned-income opportunities, while others are exploring contract work.