Universities, museums and other nonprofits battered by investment losses are pushing states to ease legal limits on spending so they can tap their endowments to avoid imminent layoffs and deep cuts to programs.
The Wall Street Journal
Investors aren't in a giving mood these days. But the deepening recession presents a rare opportunity for some people: By setting up a special trust, wealthy donors can seed favorite charities, pass money to heirs and shelter potential growth from taxes.
Few universities are as indebted to their alumni as the University of Notre Dame. Case in point: In 1879, when a fire destroyed its Main Building — which at the time housed virtually the entire university — only 35 years after it was founded, it was alumni from Chicago who rallied to raise funds to rebuild it. Their support not only got the university back on its feet, but it also set it on a path of growth that hasn’t yielded to this day.
Prospect research is an indispensable arm of a major-gifts program. You need to understand a prospective donor’s giving capacity, among other things. Here’s are some great free sites to aid in your research.
You would think that after a hundred years, a nonprofit could kick back a bit and maybe even rest on its laurels. After all, it’s been there, done that — right?
Not necessarily so, says Kurt Aschermann, senior vice president and chief marketing and development officer of Atlanta-based Boys and Girls Clubs of America, which was founded in Boston in 1906.
And Mommy says: “OK, honey. You see, your father and I work very hard to make a nice home for you. We shop for specials at the grocery store, and we’re putting away money for your education, and … “