Tomorrow is Giving Tuesday, and it is really important because the stock was down 25% from its peak at one point this year. It may surprise you how few nonprofit leaders embrace the direct correlation between the stock market’s performance and foundation giving. Bottom line, most foundations will need to scale back their giving in 2023. The goal of our most recent article in Forbes.com is to help nonprofit leaders think through the best ways to win in this environment.
It was fruitful to interview Sam Reiman, the director of the Richard King Mellon Foundation, and Presley Gillespie, president and CEO of Neighborhood Allies, as they shared 5 ways to prepare for 2023 and why strategic nonprofits can be optimistic in the months ahead.
Here is the link to the entire article:
Here are short snippets from the article:
- “With any plan — whether it’s A, B, or otherwise — Sam Reiman tells nonprofit leaders to think in terms of longevity. “It’s the long game that organizations still need to be focused on to not chase after short-term opportunities at the expense of the longer-term mission,” say Reiman.”
- “There needs to be a balance between mission and margin. That means understanding how we are capitalized, understanding our balance sheets, and understanding how to be forward thinking as it relates to financial information. We’ve got to be thinking about the numbers 12 to 18 months into the future,” says Gillespie.
- “Create opportunities based on your organization’s value proposition — what you can do uniquely well — and develop fee-for-service models around that. – Presley Gillespie”
If you don’t have a Giving Tuesday plan please consider Omicelo Cares, Neighborhood Allies, or another worthwhile nonprofit organization.