We have found that the damaging social and economic aftershocks from the pandemic has many people asking themselves, “How can I serve my community? How can I make a difference?” One way both Katharine and I have worked to promote gender equality and the empowerment of women is by serving and supporting our local Commissions on the Status of Women. The original Commission on Status of Women (CSW) was established in Read More
403(b) vs. 401(k): What’s the difference?
As published in Business InsiderBy Robin Kavanagh | September 27, 2021403(b) and 401(k) plans are similar retirement savings tools offered by employers.The main differences between 403(b)s and 401(k)s are the type an employer can offer and investment options participants have.Both plans give employees options to add after-tax funds, take loans against existing balances, and have special circumstances to withdraw Read More
Nonprofit Boards: Learn to Build Them Well
At our monthly Social Impact Advisory Group meeting, we heard from nonprofit governance and leadership expert, Mary Hiland, who empowered our group with understanding why boards matter, spotting the source of most board trouble and how to recruit and develop boards. Our host, Stephanie Shaterian, moderated audience questions which are also provided in this article. The following presentation was edited for length and Read More
Here’s Female-Given Advice on How to Prep for Retirement No Matter Your Generation
As published by ParadeBy Lambeth Hochwald | Aug. 27, 2021, at 5:00 a.m.If you’re ready to do a check on your own financial plans, read on for what Gen Z, millennials, Gen X and boomer women need to know right now about retirement planning and goal setting.Chloé Bare, 30, spent two years setting aside retirement funds by creating a budget—and sticking to it. “When I started I had almost zero knowledge about money,” Read More
What to Do If You Lose Money in Your 401(k)
As published by U.S. News & World ReportHere's what can lead to a decline in your 401(k) balance and how to avoid setbacks.By Rachel Hartman | Aug. 25, 2021, at 11:00 a.m.If you have made contributions to a 401(k) through your employer, it’s natural to be concerned about the plan’s performance. Like all investments, there are risks involved with setting aside funds for the future. While many 401(k) plans are Read More
What Your Nonprofit Endowment Needs and Why
“We don’t need any policies.” That was an actual quote from a nonprofit board member in response to whether the organization should establish an Investment Policy Statement to govern the organization’s endowment. A policy and procedure nerd like me was horrified at the lax approach to nonprofit governance. Policies can be interpreted as unnecessary, bureaucratic rules that limit flexibility, yet a clear and concise Read More
Demystifying Legacy Nonprofit Giving with Lori Kranczer
With so much uncertainty in philanthropic giving due to the pandemic, the Social Impact Advisory Group spoke with Lori Kranczer, the CEO and Founder of Everyday Planned Giving, about how legacy giving can broaden a nonprofit’s donor base and build stronger engagement with existing donors. Leveraging 20 years in the nonprofit space as an attorney and consultant, Lori has created and managed several substantial Read More
Three Questions to Optimize Nonprofit Cash Reserves
“We have cash sloshing all over the place.” That is how a nonprofit leader described the state of her organization’s cash reserves. While this might sound like a dream come true, nonprofits that rely on grants and major gifts that arrive with irregular timing often find themselves wrestling with the labyrinthine exercise of mapping numerous pots of cash to operations and programs as required. If a nonprofit is Read More
Social Impact Advisory: Trends in Nonprofit Philanthropy
At our monthly Social Impact Advisory Group meeting, we wanted to explore the impacts of the pandemic and racial justice movement in shaping the future of philanthropy. We invited moderator, Lisa Salomon of and panelists, Theary Chan, and Nicole Kyauk to discuss the range and nature of relationships funders want to have with the nonprofits they support. The following panel presentation was edited for length and Read More
What Is An Endowment and Tips Your Nonprofit Needs to Know
What is an endowment and should we have one? Nonprofit leaders frequently ask us these questions so we break down the details here. An endowment is the most recognized strategy an organization uses to invest a large donation typically restricted by a donor to support a specific program either over a set time frame or indefinitely. For example, a wealthy philanthropist could donate multi-year funds to their favorite Read More
