The Rundown - July 15, 2022
The latest news and notes from the nonprofit and philanthropic sectors
The Rundown - The Lazy Summer Days Edition!
It seems like we have hit that time of year. Most of the Summer Vacations have been taken and the outdoors are beckoning us more and more each and every day. The days are still long (the sun doesn’t set until after 9:00 p.m. here in Ohio) yet time is flying way too fast. We have hit the Lazy Summer Day portion of the calendar.
It’s one of my favorite times of year, it seems like everyone is relaxed, timeframes aren’t too compressed and things just flow right. There is time to do everything, but those summer afternoons are calling where it’s just me, a glass of lemonade and maybe a nap.
Here is to the hard work we are doing and the slowing down we deserve! Let’s enjoy these Lazy Summer Days to the fullest!
Public Opinion high for Reforms in the Charitable Sector
This recent article from Inside Philanthropy recently talked about new data released from Ipsos measuring public appetite for reforms to the charitable sector. The findings of the survey found:
Most Americans (82%) support the important role that charitable foundations play in society. At the same time, they remain unaware of specific details about foundations and donor-advised funds (DAFs), which have become the vehicle of choice for the wealthiest givers.
Once informed that donors receive generous tax breaks when they give to charities, while one third of all charitable donations accumulates in private foundations and DAFs, the vast majority (81%) do not believe taxpayers should subsidize the wealthy to keep money on the sidelines through private foundations that will exist in perpetuity.
With more than $1.2 trillion in charitable contributions currently sitting on the sidelines, 69% of adults surveyed support a 10% payout requirement for foundations (up from the current 5%) and for DAFs (which currently have no payout requirement), even if this reduces the amount of money in foundations and DAFs in the future.
73% support requiring DAFs to make grants within two to five years of receiving donations.
The data shows something that is probably hidden to those people that aren’t active in the field; it shows that there is a great discrepancy between what people believe happens in the philanthropic field and what actually occurs. The authors tease this important out by sharing other data: Only 17% of respondents said that they are aware that at least 30% of all charitable donations go to Donor Advised Funds for Private Foundations.
Perhaps the most interesting nugget is that philanthropic reform is something that enjoys wide appeal on both sides of the political aisle. The article showed that liberals (74%) and conservatives (70%) both overwhelmingly support reforms such as increasing Donor Advised Fund and Private Foundation payouts to 10% per year, up from the current 5%.
The authors sum up the study bluntly:
The more the public understands how the tax code allows for the taxpayer-subsidized warehousing of charitable dollars, the more they support a systemic change in philanthropy. The results are clear: An informed public is solidly behind common sense reforms that would curtail the warehousing of charitable wealth.
A Unique Way to Give
This story popped up from the Hawaii News Now website.
How many of us have one of those loose change jars at home? Maybe it’s big or maybe it’s small, but they are fairly ubiquitous. Even at my house, in the dining room there is a quart size mason jar that has been home for all the loose change I have accumulated throughout the day. Everyday when I come home from work, the keys hit the basket and the loose change hit the jar.
Now, it takes a while to fill up the jar; it may only get completely filled once or twice a year. And then comes the chore of going to the bank and cashing it in. Fortunately, at my bank they have a nice automatic coin counter and it’s pretty easy to cash it in.
Well, the Central Pacific Bank in Honolulu is taking all that loose change and really making difference. For one month, anyone can come in and make a tax-deductible donation by bringing in their loose change. To sweeten the deal, Central Pacific Bank is matching all contributions up to $5,000.
Hawaii has some of the highest costs of living in the country and food insecurity is a huge issue. According to the Hawaii Foodbank, $10 (or one roll of quarters) can provide up to 21 meals.
Perhaps this is a cool idea you can use your own hometown!
Tell us About You!
I know that the readership for this newsletter is world-wide! But, I want to know more about where you are from? Let’s have a little fun and let us know where you are from!
We are Trying Something New
Perhaps you read our last “Deeper Dive” where we talked about the amazing power of Youtube as a Social Media platform. Well, a reader challenged me and said hey, “Why don’t you start your own channel?”
Okay, challenge accepted. Here is our channel with our first two videos. Check it out and let me know what you think! Feel free to drop me a line at pinnaclestrategiesltd@gmail.com or just comment below!
Here is a link to our YouTube Channel!
Check Out Some New Resources
Pinnacle Strategies has created a new resource! Check out our store here on the gumroad platform. These are the three most popular tools that I am hit up for. Take a look at these tools and of course, if you have any comments or questions, please feel free to contact me at pinnaclestrategiesltd@gmail.com.
What Can We Work on Together?
Did you know that Pinnacle Strategies works individually with nonprofit and public sector leaders to help them solve problems, achieve goals and gain confidence in their roles?
Why?
Because, this work is hard and it’s often a lonely road. Our nonprofit and public sector leaders need people that they can talk to to get solid advice and encouragement to do the work that is in front of them. If you feel that this can be of value to you, or a member of your team, please reach out to pinnaclestrategiesltd@gmail.com and let’s talk.
A Quick Note of Thanks!
Thank you all for subscribing to this newsletter. The subscription numbers continue to grow and from what I am learning, this side job seems like it has “sticking power”. I am not getting inquiries and calls from literally all over the world wanting to partner and work together to create value for you, the non profit and philanthropy leader. I feel very excited about the future of this newsletter and if you have any ideas or comments, please feel free to share them with me at pinnaclestrategiesltd@gmail.com
I know many of you have shared this with your friends and colleagues and I am very grateful. Thank you! If you haven’t shared it yet…..well, here is your chance….
Ready to Learn Something New?
Spring is a wonderful time to visit Indianapolis and it opens a perfect opportunity to sharpen your skills and meet new professionals in the field. I would encourage you to look at some of the offerings of The Fund Raising School at the Lilly School of Philanthropy at Indiana University’s campus in Indianapolis. The professional development school has great programming both on-line and in-person both in Indianapolis and at other sites across the country. Take a look at their course offerings here!
Other Ways to Connect
Our coaching practice has openings starting here in 2022. If you are interested in working with me to get your nonprofit organization on a track to achieve the big missions you have for your organization, please reach out to me at pinnaclestrategiesltd@gmail.com.
Here are some other ways you can keep in contact with Pinnacle Strategies!
Check us out on our LinkedIn Page
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