About a year since the coronavirus recession began, there are some signs of improvement in the U.S. labor market, and Americans are feeling somewhat better about their personal finances than they were early in the pandemic. Still, about half of non-retired adults say the economic impact of the coronavirus outbreak will make it harder for them to achieve their long-term financial goals, according to a new Pew Research Center survey. Among… Read more »
The Impact of ASU 2014-09 on Nonprofits You may have heard the buzz about the new revenue recognition standard, Revenue from Contracts with Customers, (ASU 2014-09), which is now effective for all nonprofits. You’re wondering what kind of impact, if any, it will have on your nonprofit. Depending on the nature of your revenue and support, this new standard may have a significant impact… Read more »
Many of the principles of fundraising I learned early on really are true: listen to prospective donors to connect them to your cause; build relationships to move supporters to the next level of giving; and thank donors more often than you ask for money. These do result in better fundraising outcomes. But based on my recent experience, I’m wondering if the scarcity-based approach of holding your funding sources under lock and key could use an upgrade.
At a time of staggering inequality, wealthy individuals are using donor-advised funds, or DAFs, to claim substantial tax benefits, while often failing to move funds in a timely manor to independent nonprofits addressing urgent social needs. Of particular concern are the growing number of DAFs founded by for-profit Wall Street financial corporations that provide incentives for the warehousing of wealth. This report, Warehousing Wealth:… Read more »