finance

Nonprofit Finance for Hard Times: Leadership Strategies When Economies Falter

admin — Tue, 13 Apr 2010 00:00:00 +0000

Did you know there are over twenty-five IRS codes for nonprofits? Or that nonprofits make up the third largest sector in the US economy? Or that more than three quarters of the existing nonprofits have emerged since 1980? Given that this is such a large sector to examine and there are imperfections in available data, Susan Raymond limits the scope of her new book, Nonprofit Finance for Hard Times, to discussion of organizations with 501(c)(3) status.

The 501(c)(3) category includes organizations focused on myriad areas, including religion, education, testing for public safety, fostering national or international amateur sports competition, and prevention of cruelty to children or animals. Some examples of 501(c)(3) organizations you are probably familiar with are The Boys & Girls Club, The United Way, and the publisher of Bitch magazine, Bitch Media. I personally appreciated this limitation in scope since I work for a 501(c)(3) nonprofit and could think about the arguments and tips in terms of how they can be of use to my particular agency.

Nonprofit Finance for Hard Times provides recommendations of strategies for revamping or revitalizing existing programs while engaging and strengthening relationships with donors, foundations, and other financial stakeholders. The text extensively discusses not only the ways to make it through economic hardship but also how to best plan for the long term in ways that can buffer more difficult times. My personal favorite of these tips is the the importance of a strong and committed volunteer base. In times of economic hardship, people’s most valuable asset is their time, which can make or break an organization when money is tight.

I liked the layout of the book and appreciated the thematic summaries at the beginning of each chapter. These summaries helped me decide if the information in the chapter was going to be of any use or interest for my purposes. Raymond furthered supports her recommendations by providing many examples and testimonials, which help illustrate how theory is translated into practice and what some organizations found effective. One such testimony was from the CEO of (RED) on how cause-related marketing has helped raise funds to fight AIDS in Africa. You may have seen some of this cause-related marketing at Starbucks or The GAP.

Another point of interest for me was the tone of the discussion. Many of Raymond’s ideas are based off of what I consider to be corporate business models. Yes, nonprofits must raise funds to continue to provide their services, keep their doors open, and continue the work, but I believe grassroots organizing is a more effective approach. Strangely enough, this is not mentioned in Raymond’s book. I even checked the index in the back, thinking perhaps my brain had gone on autopilot and missed it, but ‘grassroots’ wasn't even listed.

I worry that not considering a ground-up approach to stabilize an organization’s operational model is forever going to be deeply tied to the booms and busts of our capitalist economy, and it is concerning that this book makes no mention of involving the people directly impacted by nonprofit nor does it consider the impact these people's needs, desires, and investment may have in supporting the organization. This crucial aspect was not explored by Raymond to its fullest potential.

Taken as just one perspective of many, this book could be quite useful to large nonprofits with a global vision. While I did not particularly enjoy the book, I do believe sharing of effective practices and strategies is necessary for the nonprofit sector of the economy, and that long term planning is the key to an agency’s survival during the hard times.

Written by: Liz Martin, April 12th 2010

The Witch’s Coin: Prosperity and Money Magick

admin — Sat, 06 Feb 2010 01:00:00 +0000

By Christopher Penzcak

Llewellyn Worldwide

What if you were given the opportunity to not only overcome your financial burdens, but still have enough money to spare? After ending a year filled with recession woes, 2010 is a time of hope for many of us. According to award-winning author Christopher Penczak, anyone can now earn a little green with the help of Mother Nature. In his latest book, The Witch's Coin, readers can transform poverty into prosperity through spells and lessons in Finance 101. While this book will appeal to pagans who are familiar with using herbs, candles, and oils to help better their lives, those who need guidance will greatly benefit from the many lessons Penczak provides. The Witch's Coin is a must-have for a new year of possibilities.

Penczak is no stranger to readers following the pagan religious tradition. As an eclectic Wiccan, he’s published several books that teach the basics of witchcraft, including The Inner Temple of Witchcraft and City Magick. Therefore, it comes as no surprise that Penczak would finally release a book on managing one’s finances through spell work, a misunderstood subject that can be as complex as improving one’s love life. Sadly, when someone is suffering from a credit crunch, carefully wording a “prayer” to the universe can be the last thing on our minds. Fortunately, Penczak breaks down the rules of how one can learn to open up opportunities for themselves.

“Just because society sets a standard and you desire it, there is nothing evil or wrong with that desire, as long as you are clear and unattached with that desire,” he states. “New cars, big homes, vacations, and big investments are not good or bad by themselves.” Most importantly, we must learn to have balance in our lives for any spell to work. After all, what would be the purpose of having money if we can’t better ourselves with it? Finally paying off those credit card debts is a major step, but also putting some cash aside to pursue a lifelong passion that can open new doors is also another way to use magic for positive results. Best of all, Penzcak reveals numerous ways on how we can create our paths to financial victory.

One of the many wonderful things Penzcak provides in The Witch's Coin are easy-to-follow spells that not only help attract positive energy, but also assist readers in better understanding their goals. He recommends simply writing out our desires, which is a way for us to visually see what we need to make happen. “Ask for what you want, not necessarily the exact circumstance of how to get it,” he explains. “In the preceding spell, I asked for a job that is acceptable to me, fulfilling my personal criteria, and advancing my career. I didn’t ask for a specific position in a specific company. I could have, but that would close the doors to many opportunities that my magick could have manifested.”

In addition, Penzcak includes recipes for “money attraction incense” and even a “milk and honey bath,” all encompassing herbs have been used for hundreds of years. Who wouldn’t want to relax with fresh ginger and orange peel to calm our bodies and clear our minds? According to Penzcak, the scent of rich cinnamon and clove alone can “expand your consciousness, rather than contract fear and tension” when balancing the checkbook. Even if you’re creating a charm to obtain a new job, he notes, “Focus on what you want, not on what you don’t want.” Whether you’re a pagan practitioner or not, anyone can benefit from advice on realizing what we want for ourselves and how dreams can become a reality.

Real magic comes from within and goals can only come alive with work and determination. This seems obvious, but too few believe in it. Whether you’re looking to pay off pesky bills or going job hunting, The Witch's Coin is a timely hit on covering the one topic everyone should master.

Written by: Stephanie Nolasco, February 5th 2010

Chiconomics 101: The Fun, Fabulous Girls’ Guide to Making Smart Money Moves

admin — Fri, 19 Jun 2009 08:15:00 +0000

By Debbie DiVito

Chiconomics 101 is a pink-themed, Cosmo-drinking ladies-geared blog about basic money management seemingly written by and for the twenty-something set of singles with less money to burn now that they have “real world” bills to pay. The blog bubbles with ideas perhaps not so novel or inventive for folks remotely experienced in the pinching of pennies—brown bagging lunch instead of eating out, visiting the local library instead of the local Barnes & Noble, making coffee instead of dropping dollars on store-bought lattes—but ultimately, from this feminist’s perspective, fizzles and falls flat.

Alongside standard tips for everyday things a “fun, fabulous girl” can do to save a few bucks, the blog also offers more substantial advice The tips are mostly geared toward someone thinking about these things for the first time; she could find some good starting pointers and helpful links to get started towards a financial goal. These posts were genuinely interesting, informative, and pertinent to some aspect of my current financial life. I learned what FICO stands for, what I could do to improve my credit score, and some solid alternatives to a basic savings account. I read comments from other women in my age group who also do their own taxes, along with some straightforward and helpful tips for how to be successful in, what most of us agree, is an overwhelming process.

It wasn’t the information I objected to—the information was great, if basic or limited at times—it was the delivery that was hard to stomach. There are dozens of other “Finance for Women” blogs out there, even of the “101” Introductory variety, that do it better—more sound advice, tips for saving, investment strategies—without the cloyingly fabulous “chiconomic” lingo exclusively employed on this blog.

Money-talk doesn’t have to sound like a Cosmo article to become magically appealing to women. Each concept need not be accompanied by a grating metaphor meant to bring it down to “our” level—(hetero)sex, high school cliques, cocktails, pop music, dieting, more sex. Here’s a fabulous thought: A women’s finance blog with straightforward advice, no gimmicks, no “girl talk,” no gratuitous comparisons, acknowledging the fact that many women do not get the financial education they need and deserve to make the most of what they earn. Chiconomics doesn’t stack up.

Written by: Kelly Moritz, June 19th 2009