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JANUARY 2010
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According to a recent survey of area professional advisors, 62 percent of those who responded volunteer for a nonprofit organization, many at the board level.
Beyond helping your clients with charitable planning, many of you are personally invested in Greater Hartford's nonprofit sector. So, with this issue of Giving Advice, we thought we'd tell you about a different kind of resource from the Hartford Foundation.
Helping Nonprofits...
The Hartford Foundation's Nonprofit Support Program (NSP) provides opportunities for nonprofit leaders - staff and board members - to learn from experts, share ideas and network with others. NSP offers assessments and grants, consultation to help identify priorities and needs, in-depth workshops, and more to 501(c)(3) organizations serving Greater Hartford.
Plan for the Future
Organizations anticipating change or starting a planning process can request a brief organizational assessment from NSP. At no cost to the nonprofit, a trained consultant helps board and staff to assess: mission and planning; governance and staffing; fund development; and financial management. The assessment helps identify key priorities and areas for improvement and sets the stage for more in-depth planning.
Technical assistance grants (TAGs) help an organization determine its future goals by developing an action plan with the assistance of a skilled consultant. TAGs may be used for strategic, fund development, or marketing plans; executive coaching; board development; or management audit. | |
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The Hartford Foundation recently spoke with Edward J. Beckwith, national charitable planning expert with Baker Hostetler - a Washington, DC based law firm - about advanced charitable planning techniques for uncertain economic times.
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Tell us what you think...
We took a different approach with this issue of Giving Advice and we would love to know if you found the information in this issue valuable. Simply reply to this email to let us know what you think. Your feedback is appreciated!
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Improve financial systems and practices
A financial management assessment helps gauge current financial systems and recommends improvements, and can be followed by a grant to fund the recommendations and help hire a finance professional.
For agencies facing financial challenges, contemplating a significant programmatic change, or building/purchasing a new facility, a nonprofit business analysis can help determine the right capital structure and financial resources.
Learn best practices in management and governance
Half-day workshops provide information on topics such as board performance, fundraising, marketing, financial management, evaluation, human resources, and legal issues.
More in-depth learning on these topics is available through multi-session programs which include a follow-up consultation tailored to the organization's needs.
Thoughtfully transition leadership
The executive transition program provides an experienced consultant to help the board develop a thoughtful plan and search process to find a leader who can take the organization into the future. Executive coaching is also available to ease the transition for the new executive director and the board.
Upgrade technology
Through the strategic technology program, a consultant works with the organization to develop a unique multi-year technology plan. Once the plan is complete, the organization may apply for a grant to upgrade office hardware, software, systems and equipment.
Build evaluation capacity
The Building Evaluation Capacity Program helps improve an organization's capacity to conduct evaluations in order to improve programs and systems. Staff will better understand how to make use of evaluation data.
Other ways NSP can help
Additional services available from NSP - often in partnership with other community agencies - can help nonprofits find consultants and board members, build and sustain the organization, and secure low-interest loans to assist with cash flow, working capital, equipment purchases, and leasehold improvements.
 << Graduates of NSP's Building Evaluation Capacity Program share the evaluation projects they undertook during the two-year, in-depth program. |
For more information about the Nonprofit Support Program, go to www.hfpg.org/nsp.
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Helping Clients Give When Times are Tough
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Current economic conditions have forced many to make difficult choices about how to spend, save and give their limited resources. As you meet with your clients, by helping them chose the best asset and manner in which to give, you may help them discover that they can give more than they thought possible. For example...
- Gift of securities, including publicly traded stock, mutual funds and closely held stock, are best to donate when they have appreciated in value. This enables your client to not only avoid the capital gains taxes, but also to obtain a fair market value tax deduction. If your client has stock losses, we recommend that they sell the stock to realize the loss and then generate a charitable deduction by donating the cash proceeds of the sale.
- In place of gifts of cash or securities, your clients might consider giving unneeded life insurance.
- For clients that want to donate currently, but feel that they can't because of the uncertainty in the economy and the estate tax laws, discuss including a bequest in their will or living trust to ensure that their charitable legacy will live on forever.
For more information on these and other ideas regarding charitable giving, call Donna Roseman David, senior gift planning officer, at 860-548-1888 or visit www.hfpg.org/tools. |
10 Columbus Boulevard, 8th Floor · Hartford, CT 06106
860-548-1888 · www.hfpg.org
Giving Advice is published periodically by Hartford Foundation for Public Giving, the community foundation for the 29-town Greater Hartford region. Hartford Foundation is devoted to building successful partnerships with professional advisers, donors and nonprofits to enhance the quality of life for people in the community.
To access the Planned Giving Design Center, a free, comprehensive, online resource for professional advisors, visit www.hfpg.org/pgdc. |
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