Skip to main content
All Posts By

charitableadvisors

Apr 19

Can we end homelessness in Indianapolis?: We may be getting closer

By Feature

Community leaders announce plans to build 96 more permanent housing solutions as part of a comprehensive plan to end and prevent homelessness by 2024

by Shari Finnell, editor/writer, Charitable Advisors

The road to homelessness can be complex — with individuals and families experiencing varying factors that can lead to them living on the street, in parks or in vehicles, as outlined in Evicted: Poverty and Profit in the American City. In the Pulitzer Prize-winning book, sociologist Matthew Desmond provides a rare look into the lives of several individuals who failed to avoid homelessness in Milwaukee.

After years of analyzing the homeless population in Indianapolis, city officials and community leaders realize they still don’t have all the answers — but are hopeful that a comprehensive approach that includes a continuum of care, hundreds of new supportive permanent housing units and rental assistance can put them on the path to ending homelessness by 2024, said Chelsea Haring-Cozzi, the executive director of the Coalition for Homelessness Prevention and Intervention.

While many cities have traditionally focused on short- to medium-term solutions that focus on stabilizing housing within a 12- to 24-month time period, the Indianapolis Continuum of Care (CoC), a coalition of public and private organizations and individuals, has shifted the focus on more permanent solutions for homeless people in Indianapolis, Haring-Cozzi said.

As part of that plan, the CoC recently announced plans to build 96 permanent housing solutions with a $37 million grant awarded by the state of Indiana. The Indiana Housing and Community Development Authority (IHCDA) has chosen three supportive housing developments in Indianapolis for this year’s round of Low-Income Housing Tax Credits (LIHTC). The three local developments will create 96 new units of permanent supportive housing for individuals experiencing homelessness in Indianapolis.

The projects include:

  • Hanna Commons, 2800-2910 E. Hanna Ave., Indianapolis, Ind., 46227. Awarded $1.2 million annually for 10 years to provide 50 supportive housing units for individuals experiencing homelessness.
  • St. Lucas Lofts, 2810 E. New York St., Indianapolis, Ind., 46201. Awarded $1.08 million annually for 10 years to provide 50 affordable housing units for youth experiencing homelessness.
  • Compass on Washington Street, 1033 East Washington St., Indianapolis, Ind., 46202, awarded $1.2 million annually for 10 years and $900,000 in Housing Trust Funds to develop 36 supportive housing units for individuals experiencing homelessness.

Construction on all three housing developments is expected to start later this year with an anticipated completion date by the end of 2022. All three developments qualify for Indianapolis Housing Authority vouchers. These projects bring the city of Indianapolis and the CoC closer to its goal of developing 500 new supportive housing units by 2024. Currently, there are 360 supportive housing units under development in the city.

The plan is also focused on preventing homelessness. Haring-Cozzi noted that the pandemic, as of yet, has not contributed to a noticeable uptick in the number of homeless people in Indianapolis as some people had feared.

“When counts were analyzed in January 2021, compared to last January, Indianapolis didn’t see much of a change,” she said. “Even before COVID, Indianapolis was among the few communities nationwide that wasn’t seeing the same type of uptick in homelessness.”

However, the impact of COVID-19 may still need to be realized, she said. The next few months may reveal how if there will be any sustainable fallout caused by the pandemic. “We’re hopeful eviction moratoriums have curbed the impact of the loss of housing and the loss of income, along with people getting rental assistance,” she said.

Apr 12

What’s next?: Make the most of a hybrid work model through strategic planning

By Feature

Local research team reveals the challenges of building an effective plan post-COVID-19, and how to overcome them

by Shari Finnell

As organizations shift their focus to a return to “normal” after COVID-19 restrictions, many leaders are realizing that they must prepare for an entirely new normal — one that accommodates employees’ desire to introduce more flexible work-from-home policies as permanent options.

Leaders can use this unprecedented crossroads to lead their organizations to a more productive environment — with the right planning, according to Sam Julka, president and founder of Doris, a company commissioned to research how remote and in-person working models impact productivity.

Sam Julka,
president and founder of Doris

Doris, which recently released a comprehensive planning guide, “Hello, Hybrid: Your Workplace Playbook:,” captured data and insights from 16 organizations throughout the Midwest to determine the different factors that contributed to work productivity under a hybrid model.

“We studied that concept very deeply,” said Julka, during a recent interview with Charitable Advisors. “We learned there were multiple definitions of the word ‘productivity.’ We also learned through this study that the hybrid work model was going to be where many organizations wind up.”

Organizations that successfully implement hybrid work models can reap numerous benefits, including higher employee retention and optimal recruiting outcomes, Julka said. However, the transition may be difficult. When compared with fully remote and fully in-person work models, hybrid models will be the most challenging to execute well for numerous reasons, Julka said.

For example, the research revealed numerous complexities beyond determining if employees will all work in the office on specified days. Teams will need to figure out policies and protocols around factors like ensuring that employees take PTO; whether it’s acceptable to send and respond to emails beyond normal work hours, managing employees’ work hours to ensure they are avoiding burnout, and assessing career advancement opportunities — whether an employee chooses to work from home or fully in the office, Julka said during the interview.

“The playbook is really meant to help any organization, specifically a leadership team that’s trying to figure out their path forward,” she said. “Instead of writing a research paper, which is what we most often do, we ended up creating a tool to make it as helpful as possible for various organizations.”

Julka noted that the playbook will guide teams through comprehensive planning and deep conversations around their hybrid model, taking into consideration scenarios that are unique to their workplace.

“I don’t think that leadership teams are going to be able to read five white papers, and then just all of sudden have the answers. There won’t be a silver bullet that everyone will be able to follow,” Julka said.

“If you’re going to do a hybrid model, you have to do a very good job of thinking deeply about what your model may look like,” she added. “There will be rigor involved in trying to figure this out, and it will be harder than it was when we all just sort of dropped the pencil at our desk in March of 2020. It will be harder as we start to figure out how to come back effectively.”

Julka also said it is important to anticipate some failure points in all the variables as organizations adapt to a new way of working. It also is critical to recognize that the foundation of a healthy hybrid model is trust and accountability among the workforce,” she said.

“If an organization is thinking about a hybrid model, our recommendation would be to have some pretty serious conversations about what it means to trust your workforce, trust your leaders and how you’re going to all hold each other accountable for what’s going to happen,” Julka said.

To hear the full interview with Sam Julka of Doris, click below.

Mar 29

Is COVID Killing Your Workplace Culture?

By Sponsor Insight

by Jan Breiner Frazier, Planning Plus, LLC

Beginning last March, in a corporate response to the pandemic, the move to working from home became the go-to solution for continuing to operate. Yet, it has been a two-sided coin. On the plus slide, no longer do we need to jump out of bed, hit the shower, feed the kids and rush out the door to what could be a lengthy commute. In the midst of the pandemic, the running joke became we only had to look presentable from the waist up, often hiding pajama bottoms and slippers under our laptops. Kids, dogs, cats and other interruptions became accepted and, often times, were met with humor. Zoom meetings and conferences have become the norm, although many are still having a hard time finding the mute button.

Some managers have cited increased productivity without all the diversions of having multiple bodies in the office. Although email still constantly pings, many of us can now focus and concentrate without the usual interruptions of “Hey, you gotta minute?” Of course, the most significant benefit — and the driving purpose of staying home — is to reduce the spread of the coronavirus by eliminating physical interactions within less than 6 feet. Most employees today do not have private offices, and the shift many made to taking down walls and sharing open spaces may have to shift back.

The projects we primarily engage in with our clients — strategic planning, board development, leadership development — is best done in an interactive setting, where we can share information in large group settings, moving to smaller groups to tackle specific challenges. We have been able to adapt this work via Zoom, and my partners have become quite adept at screen sharing and whisking attendees into “Zoom rooms.” But we have missed the ability to get to know the participants, engage with them on a one-to-one level, and have a bit of fun. Last month, I had the opportunity to speak to a group in person. I was in heaven.

At the same time, we have noticed that even within our small firm, the lack of face-to-face interactions on a consistent basis has caused a few communication breakdowns. While we are focused on our own projects and our own clients, we have lost the team time to be able to think bigger than the project at hand, play with some “what ifs” or come up with new theories or methodologies. And then we thought, If it’s happening to us, how are other companies handling this? So, we started asking our clients about their company culture: What impact has working from home had on your culture? For the most part, the feedback has been less than positive.

We know that when individuals are faced with change that they perceive as negative, they travel through a cycle of emotions, beginning with denial and anger, moving through depression and perhaps resistance, and then — with encouragement — celebrating a new beginning. When we discuss organizational change, our advice to managers is to stay close to those employees who are struggling with change and accepting the new landscape and their role in it. But without personal interaction, how do managers really know where their employees are until productivity slips, mistakes happen, or deadlines are missed? And who is not going through change?

It turns out that the “water cooler” conversations we thought were such time wasters were not; it was a place for folks to come together to share stories, snicker at Tiger King (we know Carole threw her husband to the lions), complain about family dynamics at holidays, and wonder what in the world our managers were thinking when they made THAT decision. But it was a way to connect.

What to do? There are many employees who have embraced working from home and don’t want to go back into the office, for many reasons. But there are also employees who just want to get back to seeing their colleagues in person, work in a professional atmosphere (rather than the kitchen table) and get out of the house! For the sake of your culture, you must strike a balance.

As we discussed this challenge with our clients, we have shared the following advice:

  1. Assuming you can do so safely (and we have learned a lot since last March), develop at least a hybrid situation where full teams can come into the office for one or two days a week. Begin with a short “How is everyone doing?” exchange to start to redevelop their personal interactions that existed pre-2020 and then delve into the agenda.
  2. Keep Zoom or other electronic meetings to 90 minutes. Research is coming out that sitting and passively watching a screen for long periods of time are hard on both the eyes and the brain. Additionally, we know that often in these meetings one set of eyes is on the screen and the other set is on another device checking emails and texts.
  3. Come up with creative ways to keep the team together. We know of organizations that have played games over Zoom, had trivia challenges, or even had contests about who could create the funniest screen saver (our client Quality Mill Supply had a great time with this to break up Zoom strategic planning).
  4. Create a “culture” team that can come up with ideas to continue those interpersonal relationships. One of our long-standing clients, Langham Logistics, has had a Culture Committee for years to plan activities and events for employees. This type of attention to employees is more important than ever.

Of course, we know that not all employees are working from home, and our clients in health care and other human social services have had to continue to be in person and on-the-job for the duration of this time, and the stress is tremendous. They need extra attention during these times as well. While time is precious, and there is a lot to do, keeping your culture intact should be Job One.

Jan Breiner Frazier, the managing member of Planning Plus, LLC, has been a consulting professional since 1988. She has designed and facilitated strategic, annual, and operational planning sessions for a multitude of organizations. Her work with non-profit boards and associations has included strategic planning, board development, and committee structure.

Mar 29

5 ways to keep your first-time donors from 2020

By Sponsor Insight

Understanding these unique contributors can be key to converting them to recurring donors

by Jodi Snell, vice president of Hedges

Global philanthropy skyrocketed in 2020, with nonprofits reporting record-setting contributions from individual donors compelled to support those hit hardest by the pandemic. Many organizations launched crisis fundraising campaigns as the need and demand for services surged beyond available resources. As a result, many organizations were relieved, and a bit surprised, to receive first-time gifts from new donors.

Professional fundraisers are taught that any donor prospect must demonstrate three attributes — an interest in your cause, a link to your organization, and the ability to provide a financial gift. These new donors took the guesswork out of this process for many of you by answering your rallying call. Our clients tell us that in some cases, their first-time donors of 2020 received little cultivation, gave without being specifically asked, or were completely unknown to the organization prior to their gifts. These are unique donors. They see your work as aligned with their personal values and see your organization as effective in delivering solutions during a crisis.

Like many other organizations, your team is likely figuring out return-to-office plans, running various financial scenarios in a still uncertain environment, and trying to support staff members who are tired, stressed, and burned out. Those are big responsibilities that need your focus, but don’t make the mistake of doing so at the expense of retaining your first-time donors from 2020.

Retaining these first-time donors can create a long-term benefit that increases your fundraising return on investment. According to Classy, recurring donors are 440% more valuable than one-time donors and have an average lifetime financial return of $795.62, compared to $147.23 from one-time donors. The opportunity to turn these unique new donors into recurring donors is here and the best way to retain these donors is to make their first giving experience with you a good one. We recommend these five strategies that can turn a one-time gift into a longtime relationship:

  1. Make sure donor communications are timely, transparent, and two-sided.
    These donors have responded to your call for help. It is important that you provide timely communication so they can quickly see the direct impact of their giving and how their support is helping people and communities survive the crisis. Don’t let your communications stop with one point of contact. According to a Donor Loyalty Study conducted by Abila, “For the most part, donors like communication from the organizations they support on a monthly or quarterly basis (52%), although Millennials are more comfortable with (and more accustomed to) more frequent communication.” Lastly, don’t forget to allow your donor to communicate with you. Ask them for time together and learn about them personally, what inspired them to give, and answer questions they might have as they work to learn more about the importance of your mission.
  2. Provide additional ways for donors to engage and connect.
    The Donor Loyalty Study by Abila also reported a close correlation between increased engagement and increased financial giving. Be creative in finding ways for donors to get to know your organization better and allow them the opportunity support you in more ways than financial giving. Consider group volunteer opportunities, interactive online or in-person events that expose donors to a behind-the-scenes look at your work, or invitations to share their expertise in ways that further support your organization. Regardless of the opportunities you create, make sure they provide the donor an opportunity to experience your work in a more personal way allowing them to best understand your unique approach to solving complex problems.
  3. Sharpen your social media focus.
    Right now, many people are relying on social media for connection and who couldn’t use some positive posts? Social media is a great spot for donor recognition (with their permission, of course). Invite donors to submit a quote or video sharing why they support your organization and then feature them on your platforms. In addition, you can use social media to further engage with your supporters. Make sure to respond to your followers when they comment on your posts, reinforcing their engagement. Also consider developing a social media ambassador volunteer group to help expand your organization’s reach. Social media ambassador groups provide a virtual volunteer experience and, when provided with the right tools, can do wonders for your digital range of influence.
  4. Acknowledge your donors and celebrate them.
    Old school stewardship is not completely lost in this virtual world. Handwritten thank you notes and thank you calls still provide a personal touch that is often overlooked. These notes and calls are a great way to let donors know you are thinking about them and that you took the time to personally reach out. When it is safe to do so, in-person donor appreciation events and meetings should resume, but until then, get creative with virtual donor appreciation events (lower cost because people bring their own food!) and virtual meetings to stay connected to these new donors.
  5. Don’t over solicit, but don’t forget to solicit a second gift.
    You called, they answered. Once you have further connected your first-time donors to the organization, go ahead and solicit them for a more specific second gift including options like recurring monthly giving, general operating support, or a special initiative that aligns with their interests. If done correctly, good stewardship of a donor becomes cultivation for the next gift.

It is time to nurture these donor relationships. According to Jay Love, co-founder and chief relationship officer at Bloomerang, “the cost to continually acquire new donors can easily run 50% to 100% more than the dollars collected from them. In fact, it can be several years before any charity breaks even on dollars raised compared dollars spent.” and “most major gifts are made after five years of giving.”

While 2020 was anything but ideal, it did create opportunities to build new relationships that can impact donors and organizations for a lifetime.

Talking about donor stewardship is easy. Creating and implementing an effective plan that retains your donors plan can be challenging when you already have a full plate. Hedges is here to help.

Jodi Snell is the Vice President of Hedges. Whether it is training nonprofit leaders in successful fundraising practices or developing and implementing fundraising plans, Jodi promotes impact-driven approaches to philanthropy and the value of longtime relationships.

Mar 29

Implementing innovation during pandemic leads to a model of growth for the Indianapolis Art Center

By Feature

by Shari Finnell, editor/writer Not for Profit News

Mark Williams began his new role as the executive director of the Indianapolis Art Center (IAC) in July 2020, in the midst of the COVID-19 pandemic. As with most arts and culture entities, the 87-year-old art institution had operated primarily through hands-on, in person experiences.

A year into the pandemic?

“We’re thriving,” said Williams, who had left the for-profit sector as the CCO and founder of ImageNation, a marketing and branding firm to take on the position at IAC.

“When a crisis happens, people want to get back to replicating or substituting what they’ve done in the past,” Williams said of the natural desire to get back to normal. “Our approach was the opposite. It was an era of innovation for us. We had to look at things in new ways across all of our classes and offerings, asking ourselves, ‘How are we staying relevant?’”

Under Williams’ leadership, the IAC team started finding the answers to that critical question. Innovation followed, including an expanded offering of online art classes, the sale of art kits, which quickly sold out, and the birth of Locally Made fest, a collaboration with the Indy Jazz Fest that will be held on the grounds of the art center from May 15-16. All participants, including jazz musicians, artists and food vendors, are local.

And, unlike its signature Broad Ripple Arts Fair, which was canceled for 2021, the new fest will have a limited number of tickets to ensure social distancing under COVID-19 guidelines, Williams said. About 1,500 tickets will be sold, but jazz performances will be available online to those who want to participate. The Broad Ripple Arts Fair regularly attracted 15,000 to 16,000 visitors.

Williams said IAC’s new programs and offerings aren’t a temporary fix — a solution only to cope with the restrictions caused by the pandemic. “As people come back in person, we know that the digital components are not going away … it’s embedded in the way we work and function,” he said. “So, it’s got to be baked into the process moving forward.”

He said embracing an innovative mindset is critical, not just to survive a pandemic, but to thrive in the future. “If you didn’t take the time to embrace new innovations, you’re going to get left behind; left out of the conversation,” Williams said.

Facing tough decisions

In addition to opening up pathways to innovative thinking, the IAC team had to face the difficult decision in January to cancel its annual Broad Ripple Arts Fair. “At that time, I don’t think anyone thought we’d be where we are now, here at the end of March, with the vaccination rollout,” Williams said. “If we had to make that call, we likely would be re-evaluating that decision and thinking of ways to handle the art fair safely. But we had to make the call for the artists.”

After announcing the cancellation of the Broad Ripple Arts Fair, the IAC focused on what it could do safely and how it could collaborate with some of its friends, Williams said.

“After all the meetings, we decided to have an event that would be solely focused on uplifting our neighbors — our local creative community that had been locked out of work for a whole year. And that’s our professional musicians. That’s our working artists,” Williams said.

That brainstorming led to the creation of the Locally Made festival in partnership with the Indy Jazz Fest, which will feature more than 50 working artists who will be spread out on the 10 acres of land that make up ArtsPark.

In an effort to support the local restaurant industry, they also invited food and drink vendors to participate. “They’re hurting as bad as the rest of us,” Williams said. “It’s really going to uplift the entire experience to a more premium experience.

As part of a plan that had to be submitted to the Indiana State Health Department for approval, the festival organizers had to outline its approach to the event, including submitting square footage and reduced capacity to allow people to spread out. While current ticket sales are limited to 1,500, there’s a possibility that it could be expanded based on evolving COVID-19 restrictions.

The announcement of IAC partnering with the Indy Jazz Fest was met with some skepticism, Williams noted.

“It is interesting from the outside (observations),” he said. “I heard people saying, ‘Why would the Indianapolis Art Center partner with the Indy Jazz Fest? And why would Jazz Fest partner with the art center?’ And I’d sit there and say, ‘Why not?’ These are two great organizations coming together to do something even bigger than either of them could do individually.”

Williams said it requires thinking about the needs of the other organization — not just your own — when seeking a collaboration. When he approached the Indy Jazz Fest about a collaboration, one of the first discussions involved how to make it profitable for the community members represented by each organization.

“These are all our neighbors and our friends and we’re all emerging from this pandemic.” Williams said. “As part of this fest, we’re saying let’s gather safely, let’s do it responsibly, and make it work so that people who’ve been out of work and can earn a living once again.”

Mar 22

Financial planning: How to choose a beneficiary for your retirement accounts

By Sponsor Insight

by Shannon Blount, VP, senior personal trust officer, Horizon Bank, and David W Voris, CTP VP, Regional Treasury Management Officer, Horizon Bank

Selecting beneficiaries for retirement accounts is different from choosing beneficiaries for other assets, such as life insurance. With retirement accounts, such as IRA’s and 401k’s, you need to know the impact of income tax and estate tax laws in order to select the right beneficiaries.

Although taxes should not be the sole determining factor in naming your beneficiaries, ignoring the impact of taxes could lead you to make an incorrect choice. In addition, if you are married, beneficiary designations may affect the size of minimum required distributions to you from your IRAs and retirement plans while you are alive. The following are some factors that should be taken into consideration when making your beneficiary designations:

Paying income tax on most retirement distributions

Most inherited assets such as bank accounts, stocks, and real estate pass to your beneficiaries without income tax being due. However, that is not usually the case with 401(k) plans and IRAs. Beneficiaries pay ordinary income tax on distributions from pre-tax 401(k) accounts and traditional IRAs. With Roth IRAs and Roth 401(k) accounts, however, your beneficiaries can receive the benefits free from income tax, if all of the tax requirements are met. That means you need to consider the impact of income taxes when designating beneficiaries for your 401(k) and IRA assets.

For example, if one of your children inherits $100,000 cash from you and another child receives your pre-tax 401(k) account worth $100,000, they are not receiving the same amount. The reason is that all distributions from the 401(k) plan will be subject to income tax at ordinary income tax rates, while the cash is not subject to income tax when it passes to your child upon your death. Similarly, if one of your children inherits your taxable traditional IRA and another child receives your income tax- free Roth IRA, the bottom line is different for each of them.

Naming or changing beneficiaries

When you open up an IRA or begin participating in a 401(k), you are given a form to complete in order to name your beneficiaries. Changes are made in the same way by completing a new beneficiary designation form. A will or trust does not override your beneficiary designation form. However, spouses may have special rights under federal or state law. It is a good idea to review your beneficiary designation form at least every two to three years. Also, be sure to update your form to reflect changes in financial circumstances. Beneficiary designations are important estate planning documents. Seek legal advice as needed.
 
Designating primary and secondary beneficiaries

When it comes to beneficiary designation forms, you want to avoid gaps. If you do not have a named beneficiary who survives you, your estate may end up as the beneficiary, which is not always the best result. Your primary beneficiary is your first choice to receive retirement benefits. You can name more than one person or entity as your primary beneficiary. If your primary beneficiary does not survive you or decides to decline the benefits (the tax term for this is a disclaimer), then your secondary (or “contingent”) beneficiaries receive the benefits.

Having multiple beneficiaries

You can name more than one beneficiary to share in the proceeds. You just need to specify the percentage each beneficiary will receive (the shares do not have to be equal). You should also state who will receive the proceeds, should a beneficiary not survive you. In some cases, you will want to designate a different beneficiary for each account, or have one account divided into subaccounts (with a beneficiary for each subaccount). Keep in mind that, due to legislation passed at the end of 2019 (the SECURE Act), most non-spouse beneficiaries are required to empty their inherited retirement accounts within 10 years (previously, they could take distributions according to their life expectancies).

Avoiding gaps or naming your estate as a beneficiary

There are two ways your retirement benefits could end up in your probate estate. Probate is the court process by which assets are transferred from someone who has died to the heirs or beneficiaries entitled to those assets. First, you might name your estate as the beneficiary. Second, if no named beneficiary survives you, your probate estate may end up as the beneficiary by default. If your probate estate is your beneficiary, several problems can arise. If your estate receives your retirement benefits, the opportunity to maximize tax deferral by spreading out distributions may be lost. In addition, probate can mean paying attorney’s and executor’s fees and delaying the distribution of benefits.

Naming your spouse as a beneficiary

When it comes to taxes, your spouse is usually the best choice for a primary beneficiary. A spousal beneficiary has the greatest flexibility for delaying distributions that are subject to income tax. In addition to rolling over your 401(k) or IRA to his or her IRA or plan, a surviving spouse can generally decide to treat your IRA as his or her own IRA. These options can provide more tax and planning options. If your spouse is more than 10 years younger than you, then naming your spouse can also reduce the size of any required taxable distributions to you from retirement assets while you are alive. This can allow more assets to stay in the retirement account longer and delay the payment of income tax on distributions.

Although naming a surviving spouse can produce the best income tax result, that is not necessarily the case with death taxes. At your death, your spouse can inherit an unlimited amount of assets and defer federal death tax until both of you are deceased (Note: Special tax rules and requirements apply for a surviving spouse who is not a U.S. citizen). If your spouse’s taxable estate for federal tax purposes at his or her death exceeds the applicable exclusion amount, then federal death tax may be due. In other words, one possible downside to naming your spouse as the primary beneficiary is that it may increase the size of your spouse’s estate for death tax purposes, which in turn may result in death tax or increased death tax when your spouse dies.

Naming other individuals as beneficiaries

You may have some limits on choosing beneficiaries other than your spouse. No matter where you live, federal law dictates that your surviving spouse be the primary beneficiary of your 401(k) plan benefit, unless your spouse signs a timely, effective written waiver. Furthermore, if you live in one of the community property states, your spouse may have rights related to your IRA regardless of whether he or she is named as the primary beneficiary. Keep in mind that a non-spouse beneficiary cannot roll over your 401(k) or IRA to his or her own IRA. However, a non-spouse beneficiary can directly roll over all or part of your 401(k) benefits to an inherited IRA.

Naming a trust as a beneficiary

You must follow special tax rules when naming a trust as a beneficiary, and there may be income tax complications. Seek legal advice before designating a trust as a beneficiary.

Naming a charity as a beneficiary

In general, naming a charity as the primary beneficiary will not affect required distributions to you during your lifetime. However, after your death, having a charity named with other beneficiaries on the same asset could affect the tax-deferral possibilities of the non-charitable beneficiaries, depending on how soon after your death the charity receives its share of the benefits.

Here’s some more Investment and Retirement Advice you can count on.

Mar 15

Colaborador, escucha, aprende y actúa para promover la diversidad, la equidad y la inclusión

By Espanol

Por Karin Sarratt, Vicepresidenta Ejecutiva de OneAmerica

(To read in English, click here) Translated by LUNA Language Services

Así como ningún individuo puede prosperar plenamente de forma aislada, nos hace falta a todos (empresas y organizaciones sin fines de lucro que trabajamos juntas) fortalecer nuestras comunidades y hacerlas más inclusivas. En mi experiencia como líder empresarial siendo una mujer de color, considero que ninguna organización puede ser realmente exitosa si no está comprometida a promover la diversidad, la equidad y la inclusión.

Trabajar en el sector de servicios financieros me ha enseñado la importancia de tener seguridad financiera en todas las etapas de la vida y cómo la misma puede aliviar el estrés en los momentos de incertidumbre. Soy afortunada de trabajar para una empresa que abrió paso al fortalecimiento económico y el acceso a la protección y seguridad financieras como herramientas clave de su estrategia de diversidad, equidad e inclusión (DE&I). Estoy agradecida de que mi trabajo con sede en Indiana Central, con una herencia de más de 140 años, valore sus conexiones con la comunidad y se comprometa a trabajar con organizaciones sin fines de lucro con el objetivo de mejorar vidas.

El 2020 nos enseñó que cuando se trata de hacer que nuestros lugares de trabajo sean más diversos, equitativos e inclusivos, debemos cooperar con los demás para juntos lograr avances concretos.

A continuación, hay tres acciones claves que considero que pueden impulsar las colaboraciones entre empresas y organizaciones sin fines de lucro que quieran hacer un progreso real y duradero:

ESCUCHAR: conectarse voluntariamente con el propósito de entender lo que estamos viviendo.

Con todo lo que les tocó afrontar a esta nación y región en 2020, tenemos una extraordinaria oportunidad de lograr avances significativos en nuestras organizaciones y comunidades.

En OneAmerica, con nuestro propio capital humano, escuchamos y participamos a nivel local y nacional.

En medio del enfoque renovado de la nación en cuanto a la injusticia racial, el equipo de liderazgo ejecutivo de OneAmerica llevó a cabo sesiones de escucha con pequeños grupos para comprender mejor las experiencias de nuestros asociados. A finales del año, cada uno de los líderes y asociados de OneAmerica tuvo la oportunidad de participar en una o más sesiones de escucha.

Asimismo, nuestro Director Ejecutivo en conjunto con otros líderes empresariales y comunitarios, dedicó horas a obtener aportes de los residentes locales y organizaciones que compartieron sus opiniones e historias acerca de las barreras y desafíos raciales.

Todas estas voces, y las experiencias detrás de cada una de ellas, ayudaron a moldear nuestra estrategia DE&I.

Nuestro próximo paso en las sesiones de escucha, que ya están en progreso, es llevar a cabo una evaluación integral organizacional para entender cuáles son nuestras áreas de oportunidad, así como nuestras fortalezas. Lo que aprendamos orientará nuestros esfuerzos para la DE&I en el 2021 y más adelante.

Mientras tanto, continuamos participando en los esfuerzos locales, nacionales y regionales para aumentar nuestro impacto, especialmente en la forma en que conectamos con nuestra misión principal de ayudar a las personas a obtener bienestar financiero.

En su organización, puede beneficiarse siendo un oyente voluntario. No dude en preguntar opiniones, puede que se sorprenda lo que oiga.

APRENDER: entender cómo puede colaborar de forma más efectiva para lograr metas comunes.

A lo largo de las décadas, nuestras conexiones con las organizaciones comunitarias nos llevaron a alcanzar beneficios y acciones mutuas. Todos continuamos con este importante trabajo y me emocionan las oportunidades adicionales, sea que se compartan datos, se cree más capital humano, o se ayude a crear un programa de bienestar financiero.

En especial, me emocionan los programas One America Pathways que empezamos en el 2018, en cooperación con distintas organizaciones locales comunitarias. El propósito general es mejorar el bienestar económico individual y crear oportunidades de carreras para las personas en nuestras comunidades locales. Nuestros esfuerzos empezaron con nuestro Sustainable Income Program de Pathways, que les permite a los empleados de OneAmerica que trabajan a tiempo completo recibir un ingreso sostenible de al menos $18 por hora, más atención médica y beneficios de jubilación.

En el 2019, lanzamos el Pathways Junior Fellows Program para construir y fortalecer nuestro capital humano local y mejorar nuestro talento diverso. Al trabajar con organizaciones comunitarias, escogemos a muchos estudiantes y recién graduados de escuelas secundarias locales. Durante el verano, participaron en un programa intensivo personalizado que fomenta la conciencia profesional y la visión empresarial. Aprenden a establecer relaciones, experimentar el seguimiento laboral y ofrecerse como voluntarios en las comunidades, así como crear una presentación final.

El programa pasó a ser virtual en 2020. Además, añadimos un componente de cooperación para los estudiantes universitarios actuales y tenemos planes para seguir creciendo. Consideramos que es un modelo que podría funcionar también para otros empleadores, y colocamos el plan de estudios y la documentación del programa a disposición de todo aquel que esté interesado, sin costo alguno. Visite www.oneamerica.com/pathways para tener acceso a los recursos del programa.

ACTUAR: desarrollar planes de acción enfocados en lo que podemos resolver juntos en el presente.

Luego que haya tenido la oportunidad de escuchar y aprender, utilice estos aportes para moldear una respuesta o plan de acción que sea exclusivo para la cultura de su organización. El mismo enfoque no será suficiente.

Nuestra estrategia de DE&I se basa en la colaboración con organizaciones locales, como United Way de Indiana Central y el compromiso de Business Equity for Indy, así como en alineamientos clave a nivel nacional con el American Council of Life Insurers, ACLI (Consejo Americano de Aseguradores de Vida) y el American College of Financial Services, TAC (Colegio Americano de Servicios Financieros).

Trabajamos con ACLI, TAC y otras organizaciones en un enfoque integrado empresarial para avanzar en el bienestar financiero, lograr un lugar de trabajo y una cultura más inclusiva, y desarrollar capital humano y carreras profesionales. Además, trabajamos en conjunto para realizar las siguientes medidas concretas:

  • Ampliación de la capacitación económica, lo que incluye ayudar a crear un trayecto de educación financiera que llegue a las personas desatendidas donde sea que estén y los inspire a actuar, y colaborar con TAC para utilizar su plan de estudios para un impacto significativo en la comunidad.
  • Mayor acceso a una seguridad y protección financiera razonable. Apoyamos al ACLI en la promoción de cambios reglamentarios que eliminen la posible discriminación en la entrega de nuestros productos.
  • Eliminación de los obstáculos innecesarios que impiden a las personas de color tener licencia o trabajar en el sector de seguros. Además, apoyamos los esfuerzos del ACLI para que las licencias sean más inclusivas.

    Es un momento emocionante para promover la diversidad, equidad e inclusión. No puedo esperar para ver los resultados de nuestras colaboraciones a medida que avanzamos de la mano en el 2021.

Karin Sarrat es Vicepresidenta Ejecutiva de OneAmerica, proveedora de planes de servicios de jubilación con sede en Indianápolis, que incluye a las organizaciones exentas de impuesto, así como a las de seguros de vida, productos de cuidado prolongado y beneficios para los empleados. Karin dirige las siguientes áreas de OneAmerica: recursos humanos, comunicaciones y mercadotecnia, asuntos comunitarios y estrategia empresarial.

Mar 15

Make Bring Your Own Device (BYOD) practices easy and secure

By Sponsor Insight

Save your organization a collective headache with software and hardware that make remote work easier, safer, and more secure.

by Cody Lents, partner and change manager, COVI, Inc.

With nearly 42% of the American workforce continuing to work remotely, you’ve undoubtedly had firsthand experience with an unreliable home connection, or tried connecting with a peer who has had challenges. A normally fine broadband connection can suddenly come to a grinding halt when family members and neighbors all sign on for remote work and school.

The easy solution? Higher speeds and more bandwidth. Unfortunately, that is not always available. The best alternative? A dedicated hotspot.

Establishing a reliable home connection
While mobile hotspots work great in a pinch to provide connectivity when and where you need it, a dedicated hotspot device can offer even more capability — allowing you to tap into organizational resources via a VPN pass-through, and options that enable users to block devices and “whitelist” media access control (MAC) for added security. Additionally, it allows you to make calls and use the data connection on your phone without draining its battery as a hotspot.

The Skyroam Solis (to leverage AT&T and T-Mobile networks) and Verizon JetPack are two great examples of a dedicated device that will ensure your team never experiences a glitchy, lagging Zoom call again.

Securing personal devices for work
An IBM Survey found that 53% of remote workers are on a Bring Your Own Device (BYOD) policy, using their personal devices for work. However, about 61% of respondents say their employer provided no tools on how to properly secure those devices. The use of personal devices for work puts your organization’s data at risk of cyber-attack.

Implementing a security infrastructure, such as a VPN or gateway is the best investment your organization can make to ensure the safety and security of your technology:

Virtualized remote services
Solutions like Microsoft’s RDS/Published Apps, Citrix, or AWS’ App Stream, enable organizations to allow their employees remote and secure access to their infrastructure’s resources. By tapping into their physical office PCs, employees have access to all the applications, data and resources they need to do their work — eliminating the need for any other virtual desktops/applications to accommodate teleworking. Virtualized Remote Access can provide aa safe, secure option for all.

Alternatively, Amazon offers two options that facilitate connection to your dedicated digital infrastructure via its IT management subsidiary, Amazon Web Services (AWS):

Virtual Private Networks (VPNs), such as the AWS-managed VPN, enable you to create an encrypted connection over the public Internet between a private Amazon cloud and your organization’s infrastructure, allowing for the application of your existing security policies.

VPNs are a convenient connectivity option for smaller organizations just beginning with AWS, though utilizing public internet can present some security concern for those looking to better protect their data. However, such security policies are invasive and can cause issues and confusion if connected to BYOD devices without clearly articulated and accepted company policies.

AWS-Direct Connect bypasses public Internet and establishes a secure connection from your organization’s infrastructure into AWS by connecting an Ethernet cable from your router into another AWS Direct Connect router. This option is great for organizations that are seeking secure, ultra-low latency connectivity. Though the process can be more involved, Direct Connect provides a predictable network performance and 60% cost savings.

Questions?
If you need assistance making remote work smoother for your organization, reach out to COVI at cody@gocovi.com for help. COVI is an Information Technology (IT) agency specializing in productivity, security, support and strategy services, located in Indianapolis, Indiana.

Mar 15

Una iglesia local transforma un vecindario desatendido del Este mediante un plan estratégico de desarrollo económico

By Espanol

La Eastern Star Church anuncia el comienzo de la construcción de una instalación de 60,000 pies cuadrados, que forma parte de la segunda fase de su ROCK Initiative

por Shari Finnell, editora/escritora, Not for Profit Newsletter

(To read in English, click here) Translated by LUNA Language Services

Cuando se compara la habitabilidad de un vecindario, es fácil dejarse llevar por las cifras: el índice de criminalidad, las puntuaciones de las escuelas, el valor de las viviendas, las vías peatonales… o las millas hasta la tienda de comestibles más cercana. Es probable que los cazadores de casas comparen cuidadosamente estas calificaciones, sabiendo que pueden repercutir en la calidad de vida de una familia después de la mudanza.

Sin embargo, muchos residentes de algunas de las comunidades más empobrecidas de la ciudad no pueden tomar ese tipo de decisiones. Con un número importante de personas con recursos económicos limitados, mudarse no es una opción.

Jeffrey A. Johnson, Sr., conoce muy de cerca uno de esos vecindarios: la comunidad de Arlington Woods, situada en el código postal 46218, una zona que se ha visto asolada por los altos índices de delincuencia, las elevadas tasas de desempleo, los altos índices de abandono escolar y, más recientemente, un gran número de contagios por COVID-19.

Johnson, que creció en este barrio antes de ir a la universidad, regresó a los 24 años para convertirse en el pastor de la Eastern Star Church (ESC), que tiene tres sedes, incluida la principal en el 5750 E. 30th St., en el corazón de la comunidad 46218.

Bajo el liderazgo de Johnson durante 33 años, la iglesia invirtió continuamente en la comunidad a través de una despensa de alimentos, viviendas asequibles, inversiones financieras en las escuelas locales, ferias de salud, voluntariado, tutoría y otros programas. En 2017, Johnson se unió a los miembros de la ESC para anunciar el lanzamiento de The ROCK Initiative, un plan más completo para invertir en la comunidad. The ROCK Initiative se basa en cuatro pilares: vivienda asequible, comunidad fuerte, educación de calidad y seguridad financiera.

Como parte de la fase I, la iglesia renovó y construyó viviendas unifamiliares, creó un jardín urbano y construyó un complejo multiuso con 25 unidades de apartamentos y espacios comerciales ocupados por una cooperativa de crédito, una tienda de comestibles y proveedores de servicios sociales. La iniciativa recibió el apoyo de numerosos socios de la comunidad, como INHP, Habitat for Humanity, The Mind Trust, Financial Health Federal Credit Union, Community Health y Eskenazi Health.

Hoy anunció otra fase importante en el cumplimiento de su visión de una comunidad transformada: el desarrollo del Centro Comunitario ROCK para niños y jóvenes, y una instalación de 60,000 pies cuadrados que proporcionará a los estudiantes un entorno seguro para estudiar, aprender nuevas habilidades y participar en actividades recreativas y de desarrollo.

Tihesha Henderson, directora de la Sankofa School of Success, antes IPS School 99, dijo que la inversión en los jóvenes del área 46218 será duradera. “A lo largo de los años, la comunidad ha cambiado mucho”, afirmó Henderson, quien también creció en la comunidad. “Muy rápidamente pasó de ser una zona de clase media a una zona improvisada”.

La comunidad, con una población que en su gran mayoría es afroamericana, ha estado desempleada y extremadamente desatendida por mucho tiempo, añadió Henderson.

“No solo hay muchos traumas y mucha pobreza, sino que vemos muchos problemas de salud mental en esta comunidad”, comentó. “También es un desierto cuando se trata de negocios como bancos, tiendas de comestibles y apoyo a la salud mental de nuestras familias. No hay muchos lugares a los que nuestras familias pueden acudir para conseguir un empleo”, dijo. “Así que, cuando se tienen en cuenta todas esas cosas, sabemos que las necesidades de nuestros estudiantes van a ser grandes”.

The ROCK Initiative se ha mostrado prometedora y ha llenado de esperanza a los residentes de esta área, declaró Henderson. “Depende de nosotros eliminar los sistemas de opresión que afectan todos los días a nuestros niños de color, y podemos hacerlo a través de la equidad y los recursos en nuestro vecindario”.

Mar 15

Local church transforms neglected Eastside neighborhood through strategic economic development plan

By Feature

Eastern Star Church announces the groundbreaking of a 60,000-square-foot facility — part of Phase II of its ROCK Initiative

by Shari Finnell, editor/writer, Not for Profit Newsletter

(Para leer en español, haga clic aquí) Translated by LUNA Language Services

When comparing the livability of a neighborhood, it’s easy to quickly get caught up in numbers — crime rate, school scores, home values, walkability scores … or miles to the nearest grocery store. House hunters are likely to carefully compare these ratings, knowing that it can impact the quality of their family’s lives after a move.

However, many residents in some of the city’s most impoverished communities can’t make those types of choices. With a significant number challenged by limited financial resources, moving isn’t an option.

Jeffrey A. Johnson, Sr., is intimately familiar with one of those neighborhoods — the Arlington Woods community, which is located in the 46218 ZIP code — an area that has been blighted by high crime rates, high rates of unemployment, high student dropout rates and, more recently, high rates of COVID-19 infection.

Johnson, who grew up in this neighborhood before going off to college, returned at the age of 24 to become the pastor of Eastern Star Church (ESC), which has three campuses, including its Main Campus at 5750 E. 30th St., in the heart of the 46218 community. Under Johnson’s 33-year leadership, the church continually invested in the community through a food pantry, affordable apartment housing, and financial investments in local schools, health fairs, volunteering, mentoring and other programs.

In 2017, Johnson joined members of ESC in announcing the launch of The ROCK Initiative, a more comprehensive plan for investing in the community. The ROCK Initiative is built on four pillars — affordable housing, strong community, quality education and financial security.

As part of Phase I, the church renovated and built single-family homes, developed an urban garden, and constructed a multi-use complex with 25 apartment units and retail space occupied by a credit union, a grocery store and social service providers. The initiative received support from numerous community partners, including INHP, Habitat for Humanity, The Mind Trust, Financial Health Federal Credit Union, Community Health, and Eskenazi Health.

Today, it announced another major phase in accomplishing its vision for a transformed community — the development of the ROCK Children and Youth Center (RCYC), a 60,000-square-foot facility that will provide students a safe environment to study, learn new skills, and engage in recreational and developmental activities.

During a groundbreaking ceremony, Johnson said The ROCK Initiative was launched to address inequities in the Eastside neighborhood.

“For too long, in this particular area, resources have not come through. We have had to deal with an economic desert, a food desert, an employment desert, and a quality education desert … which is one of the reasons, as led by God, we decided to start the ROCK Initiative,” Johnson said. “The ROCK Initiative allows us to partner up and collaborate with neighborhood, businesses, government and those who have a heart for community to make a difference. And the ROCK Children and Youth Center will help us continue our vision for a strong, safe and vibrant community so that all of our children are able grow and develop in a way God that intended them to.”

Jeff Bennett, Deputy Mayor of Community Development, told those gathered at the groundbreaking that the center represents a much-needed addition for the Eastside neighborhood, which he described as “one of the city’s most under-appreciated and under-recognized areas.”

“When we talk about community development in Indianapolis, it’s important that we recognize the work of our congregations,” said Bennett, citing the church’s investment in the neighborhood. “Eastern Star has led the way for more than 100 years. You recognized and fulfilled critical needs in affordable housing, banking and credit, food access and educational opportunities.”

Brandon Brown, CEO of The Mind Trust, which supported the opening of Rooted School Indianapolis, a high school located on the church’s main campus on East 30th Street, said that the ROCK Initiative can serve as a model for transforming neighborhoods. “With its comprehensive approach to education — with a pre-K to grade 12 continuum as one of the four major pillars, The ROCK Initiative can serve as a model of what’s possible when we think of a multi-faceted approach to uplift a community with education at the core.

“I believe that we will come back in 10 years and see this as a model of racial equity and social justice for our entire city that will serve as a shining example of what’s possible when we come together,” Brown added.

Tihesha Henderson, the Head of School at Sankofa School of Success, formerly IPS School 99, said the investment in youth in the 46218 area will be long lasting. “Over the years, the community has changed greatly,” said Henderson, who also grew up in the community. “It went from a middle-class area to an improvised area very quickly.”

The community, with an overwhelmingly African American population, has been largely unemployed and grossly underserved, Henderson added.

“Not only is there high trauma and high poverty, we see a lot of mental health issues in this community,” she said. “It’s also a desert when it comes to businesses like banks, grocery stores, and mental health support for our families. There are not a lot of places that our families can go to be employed,” she said. “So, when you factor in all of those things, we know that the needs of our students are going to be great.”

The ROCK Initiative has shown promise in giving the residents of this area hope, Henderson said. “It’s up to us to eliminate the systems of oppression that affect our black and brown kids every day, and we can do that through equity and resources in our neighborhood.”