In this series, we take a look at the current news impacting the nonprofit sector, specifically fundraising. Our intention is not to be reactive, but to be proactive in our analysis of the news and consider how fundraising and philanthropic efforts can improve outcomes and adapt to meet the times.
This week: How Women Are Changing the Philanthropy Game, Nonprofits Lost 50,000 Jobs Last Month From Virus, and 10 Things Nonprofit Executives Should Never Cut Corners On.
How Women Are Changing the Philanthropy Game (Via New York Times)
Wealthy women giving their money and time away is nothing new (see: Brooke Astor, Nan Kempner, Liz Thompson and Agnes Gund). But for many decades, those who were married did so in their husbands’ names, or more quietly, without wide recognition. A study published in 1985 that followed 70 female volunteers in “high society” for several years found that the unpaid work the women did was often unrecognized or belittled. But in recent years, with the rise of women in the workplace and the growth of movements centering their experience, women’s giving has become a subject of study by professionals in the nonprofit world and by academics.
Analysis: The rise of women-driven philanthropy is forcing nonprofits to take a closer look at what donors they are focusing their time on. While men have often gained the public recognition for philanthropic giving, gifts from women often times come in larger amounts, more often, and with fewer conditions, enabling organizations to take fuller advantage of these dollars towards their missions.
Nonprofits Lost 50,000 Jobs in December (Via Chronicle of Philanthropy)
Nonprofits shed an estimated 50,760 jobs in December, a “striking reversal” of what had been months of slow-but-steady job growth among nonprofits, according to a new report from Johns Hopkins University. As a result, nonprofits employed nearly 930,000 fewer workers in December than they did in February, before the pandemic, a 7.4 percent decline.
Analysis: Despite the booming stock market, a better benchmark of the economy is employment. The nonprofit sector is one of the largest employers in the country, and to see falling numbers from this industry is concerning. This places nonprofit employees that have not lost their jobs is a bind being forced to continue operating at a high level with fewer resources than ever before.
Nonprofits are challenging to run, but with innovative leaders, the business can usually remain afloat. Unfortunately, smart leaders will need to cut corners from time to time to keep the business solvent. Knowing how a particular nonprofit runs allows executives to figure out where the cuts would be most efficient. However, there are some aspects of a business that should never be subject to cutting corners. These core elements form the basis of the nonprofit, and losing integrity in these areas could lead to a complete collapse of the organization. Ten experts from Forbes Nonprofit Council point out what nonprofit pillars leaders should work around when performing cuts in their own organizations.
Analysis: The two things that stand out most in this article: development and technology. During times of job losses and budget cuts, bolstering departments that are revenue-driving is a critical step in staying afloat. Many leaders are turning to technology to support their employees to ensure that they are able to perform their jobs at a high level and continue providing service to their communities despite financial hardship.
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