Earlier this year, NPQ reported on a study by the Pittsburgh-based Bayer Center for Nonprofit Management at Robert Morris University. The study, titled What Now: How will the impending retirement of nonprofit leaders change the sector?, examined succession challenges for the nonprofit sector in a community where the average executive director age is 57. Of the 195 nonprofit executives and professionals that the study surveyed, 89 percent were white. By contrast, census data reveal that city residents are roughly 64 percent white, 24 percent Black, six percent Asian, three percent Latino, and three percent mixed race or American Indian. This contrast raises an obvious question: Might Pittsburgh nonprofits be able to take advantage of generational change to achieve greater racial equity in leadership? Read more from Nonprofit Quarterly.
At the Forbes Philanthropy Forum organized in May earlier this year, there was near parity between female and male participants. Though there were still more male philanthropists than female ones, the face of wealth is changing. With the rise of female philanthropists, not only will there be more philanthropic dollars to spend, trends thus far show that they will be making three big bets. Read more from Forbes.
In the wake of new tax policy, many professional advisors anticipate their wealthy clients will reduce their giving. Contrarily, the majority of high-net-worth Americans intend to maintain the same level of philanthropic giving this year, according to a report released Thursday by U.S. Trust. Read more from Barron's.
The secretary of the Smithsonian Institution counts among his regular advisers members of Congress, the vice president and the chief justice of the United States — and now, a group of teenagers. A year after assuming the job in 2015, Secretary David J. Skorton convened a “Youth Advisory Council” of 13 local high schoolers. Two years later, the council is going strong: It has expanded to 20 teenagers from around the country and is directly influencing how the Smithsonian Institution approaches the next several decades, Skorton said. Read more from The Washington Post.
Charitable giving appears to be booming. Charities raised $410 billion in 2017, the largest total since "Giving USA" began tracking giving patterns more than 60 years ago. America’s "commitment to philanthropy is solid," said Aggie Sweeney, chair of the Giving USA Foundation, when the the latest report was issued this month. But the Chronicle's reporting over the past year suggests that the future of philanthropy might be shaky. Today’s big numbers mask some worrisome trends. Read more from The Chronicle of Philanthropy.
The recent tax-code rewrite requires churches, hospitals, colleges, orchestras and other historically tax-exempt organizations to begin paying a 21 percent tax on some types of fringe benefits they provide their employees. Many organizations are stunned to learn of the tax — part of a broader Republican effort to strip the code of tax breaks for employee benefits like parking and meals — and say it will be a significant financial and administrative burden. Read more from Politico.
Charitable giving surged to a record high in 2017 as Americans gave more than $400 billion for the first time ever to a wide variety of organizations, according to a new report released Tuesday. Giving jumped 5.2% from last year to an estimated $410.02 billion in 2017, according to Giving USA 2018, the Giving USA Foundation’s annual report on philanthropy. Read more from USA Today and join AFP and VAFRE on June 21st for a look at the GivingUSA report.
In its special report “The Disappearing Donor,” the Chronicle of Philanthropy examines why a smaller share of Americans give to charity today than at the start of the 21st century. This trend is true across all demographics, with new data showing declines among even the religious faithful and middle-age donors, who are typically nonprofit stalwarts. Read more and see the chart from The Chronicle of Philanthropy.
Wells Fargo said it will give $400 million in cash to nonprofits in 2018, in what it describes as a 40 percent increase in its corporate philanthropy compared with last year. And starting in 2019, the bank said, it will spend 2 percent of its after-tax dollars on corporate philanthropy. Read more from The Chronicle of Philanthropy.
Singles are stereotyped as selfish. When we asked participants to tell us what comes to mind when they think about married people, nearly every other person (49 percent) mentioned characteristics such as giving, caring or kind. When participants instead thought about single people, hardly anyone (2 percent) described those qualities. Yet a pile of studies stands in defiance of the stereotype of the selfish single person. Read more from The Washington Post.
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