The Rundown - June 3, 2022
The latest news and notes from the nonprofit and philanthropic sectors.
The Rundown - The Strawberry Festival Edition
This weekend in my hometown, is our annual Troy Strawberry Festival. It’s back in full force after a couple of years being shelved due to the pandemic and from all reports, the town is itching for a good time.
It’s the quintessential small-town festival. The downtown streets are blocked and the town’s iconic fountain in the middle town is dyed red to mark the event. The festival is marked by unique creations from strawberries, such as strawberry doughnuts (sold by the local high school band boosters) and strawberry salsa (sold by a local non-profit to provide scholarships). Events include concerts, dance troupes, a car show, a 5K/10K run and a whole host of other spectacles. The weather report is looking good and it should be a fun time had by all. If you are in the area, check it out!
Why We Give
CNBC recently reported on their website the results of a recently released study from BNY Mellon’s Wealth Management team on charitable giving and why high net worth people give. The results of the study may be a bit of a surprise for some individuals, but for those that work in these fields, the results simply reinforce what we know.
The top three motivations for high net worth people to give are personal satisfaction, connection to a cause and a sense of duty regarding giving back; the old sense of noblesse oblige. The bottom three reasons cited were taxes, family tradition and recognition.
The results of the study make me chuckle a bit because if you spend any time on social media, the loudest voices talking about philanthropy claim that the only reasons people give are tax breaks and to have their names on fancy buildings. I guess this just goes to prove you can’t believe everything you read on the internet.
But, digging deeper, the same intrinsic motivations that high net worth people have to give are largely the same reasons folks across the economic spectrum give; people are committed to causes, want to make a difference and feel an obligation to give back when they can. If anything, this study showed that the size of our pockets doesn’t really change the reasons we give; at least in charitable giving, people are more alike than they are different.
Bringing Philanthropy to the Workplace
I really enjoyed this opinion piece in Newsweek by Jan Risi, who serves as the CEO of the Independent Purchasing Cooperative. I have no idea with the cooperative is, but by the sounds of it, the firm sounds like a typical private-sector concern.
And while the main goal of Risi is to have the company earn money, she is just as committed to creating more of a philanthropic culture at her shop; more than just the typical United Way campaign that happens every fall.
And Risi’s desire just isn’t an intrinsic desire to make the world a better place; it is proven that private-sector companies that work to create a more charitable workplace are investing in the right things that their customers and employees expect.
From the article:
In one survey, 71 percent of employees described a workplace culture of giving or volunteering as "imperative" or "very important" to where they work, and 49 percent saw it as a growth strategy for their organization. When it comes to supporting charities, workplace giving is a cost-effective way to drive participation in giving while boosting employee and brand loyalty.
It’s absolutely true. We tend to hold those individuals and businesses that give in high regard. But one of the challenges we are seeing is that giving and volunteering is changing.
Corporate cultures aren’t requiring volunteerism at the same rate they used to. Gone are the days when the junior executive is expected to coach the little league baseball team as a condition of their ability to move up the ranks with the company.
Furthermore, giving is now a more global, rather than local concerns. Why would someone give to a local human relief agency when there are larger, national organizations that are dealing with tough issues that are more relevant to that person’s life? If someone has an important cause near and dear to their heart, there is certainly a way to provide funding to that cause.
Hopefully Risi’s words will catch on. Philanthropy and volunteerism makes for good corporate citizenship and can help build trust with consumers. Nonprofit and philanthropy leaders are well advised to do what they can to help build relationships with the private sector when and where possible.
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 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?
Summer is here. It’s a great time to visit Indianapolis and it opens a perfect opportunity to gain new 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.
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The Rundown - June 3, 2022
I've found the expectation to give as an employee sometimes ironic. An example, if you barely make a living wage and the expectation to give to organizations helping those in need who may, in fact, be helping you. This leads into another issue of business owners who give heavily to nonprofits helping those in need but refuse to give their employees living wages.