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Leverage the benefits of recognized financial models

Posted By Erica Crenshaw, Execute Now!, Thursday, February 13, 2014

 

 

Words can inform our mind, thrill our spirit or destroy our self confidence. Some call language a "tool of transformation." No matter the intent behind your words, leading nonprofit thinkers agree the power of language is evident in every aspect of the sector. The influence of language couldn't be more obvious than in the article introduced by Foster, Kim and Christiansen, coauthors of "Ten Nonprofit Funding Models."

Foster, Kim and Christiansen argue nonprofit leaders face greater financial challenges due to the lack of... 

Read more at the Finance Fundamentals Newsletter

 

By Erica McGeachy Crenshaw, CEO of Execute Now!


Tags:  Execute Now!  Finance Fundamentals 

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Put yourself to the test before a donor does

Posted By Erica Crenshaw, Execute Now!, Thursday, January 30, 2014

"A lot of charities are 'really strapped' and will be 'for the foreseeable future,'" says Elizabeth Keating, a lecturer at Boston College who focuses on nonprofit issues.

This quote caught my eye in a recent article in The Wall Street Journal by Jennifer Cummings. As nonprofits struggle to rebound after plunging in 2008, they realize donor scrutiny will be heightened, perhaps forever, or until we've experienced increasing confidence in the economy for a few more years. More specifically, the Giving USA Foundation says, "Charitable giving...

 

Read more in the Finance Fundamentals Newsletter

 

by Erica McGeachy Crenshaw, CEO of Execute Now!


Tags:  Execute Now!  Finance Fundamentals 

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Lesson Learned: A reflection of nonprofits in 2013

Posted By Erica Crenshaw, Execute Now!, Thursday, January 16, 2014
"There were pivotal moments during the last decade when the board should have made different, tougher decisions but didn't," explained Stephen Saunders, former director of the Hull House.
 
As I've shared in prior posts and in my Monday radio segments, the Hull House is emblematic of so many similar nonprofits that waited too long before reaching out for help. Consequently, I've used their significant story and others to constructively share about how you can avoid similar challenges.
 
Last fall, I had the opportunity to present to a group of nonprofit leaders in Michigan on the common themes I've observed over the past 12 months in our sector, relating to financial nonprofit leadership. It was a terrific exercise because it allowed me to look at the entire year as a composite of nonprofit decisions and behaviors rather than singular events each week.
 
Together in our Finance Fundamentals newsletter, we explored difficulties experienced by Goliath-sized nonprofits like the Girl Scouts, New York City Opera, Georgetown University, AARP, New York University, Legal Aid Bureau and Youth Service America. Some of the themes we observed were...

Read more in the Finance Fundamentals Newsletter

 

by Erica McGeachy Crenshaw, CEO of Execute Now!

 


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Great financial management: the road to smart growth

Posted By Erica Crenshaw, Execute Now!, Friday, December 13, 2013

 

Christy Ross is like so many of us who are drawn to the nonprofit sector. A connection to something greater than ourselves is what spurs us on every day. Ross was compelled to apply for her new position because she wanted to be part of an incredibly powerful purpose. Last year, she accepted a position as executive director for ...

 

Read more at the Finance Fundamentals Newsletter

 

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Part II: Millions diverted from nonprofit coffers

Posted By Erica Crenshaw, Execute Now!, Sunday, December 1, 2013
Updated: Monday, December 2, 2013
In my last post, I introduced a heartbreaking article in The Washington Post, "Inside the hidden world of thefts, scams, and phantom purchases at the nation's nonprofits." 

 

According to The Post, more than 1,000 nonprofits that filed 990 tax forms between 2008 and 2012 checked the box indicating they had discovered a "significant diversion” of assets attributed to theft, investment fraud, embezzlement and other unauthorized use of funds. Charities are required to report diversions in excess of $250,000 or five percent of the nonprofit's annual total assets. Even though these organizations are directed to explain the losses, they regularly omitted information either because they were not yet aware of the diversions or did not want to report it.

A blatant lack of oversight and spotty checks and balances are the common themes
among these organizations that discovered enormous losses in revenue. I discussed 
strategies to overcome these frequent pitfalls by instituting internal practices
in my last post. 

This week, I want to take a look at additional methods for nonprofit accountability through deeper partnerships between funders and grantees that may help to mitigate...

 

Read more at the Finance Fundamentals Newsletter

 

by Erica McGeachy Crenshaw, CEO of Execute Now!
 



 



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Millions diverted from nonprofit coffers

Posted By Erica Crenshaw, Execute Now!, Monday, November 18, 2013

Heartbreaking is the word I would use to describe this article, "Inside the hidden world of thefts, scams, and phantom purchases at the nation's nonprofits," in The Washington Post. I decided to tackle the article through a two part series. The first part is more obvious, which is the lack of oversight within the nonprofit sector. Within the second part of the series, I'll discuss how deeper partnerships between funders and grantees may help to mitigate future losses....

Read more at the Finance Fundamentals Newsletter

 

by Erica McGeachy Crenshaw, CEO of Execute Now!

Tags:  Execute Now!  Finance Fundamentals 

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The NAACP: from relic to rejuvenation

Posted By Erica Crenshaw, Execute Now!, Wednesday, October 30, 2013

 

It's hard not to marvel at the transformation that has taken place within the NAACP
over the last five years under the direction of 
Benjamin Todd Jealous, a 40-year-old
Columbia University graduate who has grassroots advocacy experience, knowledge
of the news media and an impressive track record for collaborating with other
worthwhile causes.

At 35 years old in 2008, Ben Jealous was the youngest president hired to date and a controversial ...

 

Read more in the Finance Fundamentals Newsletter

 

 

By Erica McGeachy Crenshaw, CEO of Execute Now!

Tags:  Execute Now!  Finance Fundamentals  NAACP 

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New York City Opera loses its voice after 70 years

Posted By Erica Crenshaw, Execute Now!, Tuesday, October 8, 2013

A week ago, we watched the doors close on one of the most celebrated arts organizations, the New York City Opera (NYCO), which had experimented with fresh material and nurtured early music careers of numerous stars like soprano diva Beverly Sills and Spanish tenor and conductor Placido Domingo. Years of hardship, a controversial move...

 

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By Erica McGeachy Crenshaw, CEO of Execute Now!  

Tags:  Execute Now!  Finance Fundamentals  New York City Opera 

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Survey sheds light on communication breakdown with foundations

Posted By Erica Crenshaw, Execute Now!, Tuesday, September 24, 2013

 

"In a survey of 121 nonprofit leaders, the Center for Effective Philanthropy says it found that only 52 percent ‘believe their foundation funders are aware of the various challenges their organizations face,’” reports the Chronicle of Philanthropy. Some of the areas where nonprofit leaders suggest they need support are leadership training, technology deployment and solutions for meeting the rising demand for ...

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by Erica McGeachy Crenshaw, CEO of Execute Now!

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What we can learn from our peers

Posted By Erica Crenshaw, Execute Now!, Thursday, September 12, 2013

"Head Start programs across the country eliminated services for 57,000 children in the coming school year to balance budgets diminished by the federal sequester, cutting 1.3 million days from Head Start center calendars and laying off or reducing pay for more than 18,000 employees…,” reports Michael Chandler in The Washington Post. If you've read some of my recent posts, you may be noticing a trend we've observed in the news. Longstanding nonprofits and historically well-funded organizations are not...

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by Erica McGeachy Crenshaw, CEO of Execute Now!

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