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Sponsor Insight

May 03

We, Too, Are Philanthropy: How Representation Matters in Not-for-Profits and Specifically in Philanthropy

By Sponsor Insight

by Tashi Copeland

To read in Spanish, click here. Translation provided by LUNA Language Services.
 
The lack of opportunity, equity and inclusion in corporate America has been a hot topic this year. However, not-for-profit entities cannot be excluded from this conversation. Multiple studies show that this industry still is predominantly white, especially in terms of leadership roles and boards. Not-for-profit leaders need to raise their awareness of the barriers facing aspiring leaders of color, build their capacity to address these barriers — and ultimately dismantle these barriers. 
 
Central Indiana Community Foundation (CICF) recognizes the ripple effect on the philanthropic sector when there’s a lack of diversity, equity, and inclusion. Without leaders of color, there’s no intimate understanding of the racialized experiences of communities of color. With no staff of color, there’s little to no accountability to communities of color. And ultimately, with no perspectives from people of color, there’s a reinforcement of the racial opportunity gap — a bias into how philanthropic dollars are disseminated.  
 
CICF recognizes that the Black community, the Latinx community, the Asian community, Indigenous communities, LGTBQ+, and people with disabilities have always been entrenched in the philanthropic sector, regardless of title or affiliation. All of us. We at CICF celebrate their work and will continue to uplift their voices. 

And this is the voice of Tashi Copeland, communications manager at CICF, with my piece, “We, Too, are Philanthropy.”  

Philanthropy. A collective of people, powering on to create profound change.
Creating causes to uplift the collective, 
whether that be the collection of time, talent, or treasure. 
But there’s something missing.   

You see from its erection, this section, of our society was sectioned off for wealthy white men. 
And while the decades created innovations in advocacy and giving campaigns,
the people in power, the faces of these foundations’ teams and boardrooms,
they didn’t change.  

So now we find ourselves in a predicament. 
The predicament of 2021 is a plague of pandemic, both in our bodies and our boardrooms.  
When funding decisions lack insight because there is not a member of our communities in sight,
we are overlooked.

When the grant application lends no option other than the founding fathers’ tongue,
(Estados Unidos tiene no idoma oficial…by the way)
we are silenced.  

When false barriers like the foundation is short-changed to give grassroots organizations funding,
we fall short of change.  

When members of leadership will only lend their ears to their network with the same club memberships,
we cannot be heard. 

When the narrative of communities lacks asset-based language and only pens the deficit,
we struggle to demonstrate our worth. 

What we need is true opportunity, equity and inclusion—not the tokenism delusion we often find ourselves in today.
But someone has to be the spark to fire up these conversations, for further iterations, of true change. 
For me, CICF has been that spark.   

It’s an organization that allows me to bring my whole self to work.
From my faux locs to my bold questions.
And does not question my silence when the media constantly re-triggers my past trauma. 

It’s a foundation that gives me the foundation to be okay with making mistakes
without losing my stake in this critical work. 

Working with a leadership team that I see my own reflection,
mirrors the change that needs to be made in this philanthropic sector. 
  
But I am just one face in a sea of Black and Brown people, knocking on the doors of philanthropy. 

We are ready to tear down the curtains and shine a light on the disparities in the sector that is linguistically rooted in the love of humanity.

We are ready to open doors to organizations’ missions our founding fathers would have deemed insanity.

We are ready to build a neighborhood of Brown and Black leaders who are given more than crumbs. 

We are ready to live out Langston’s legacy of being at the table when company comes. 

We, too, are philanthropy. 

Tashi Copeland is the communications manager at Central Indiana Community Foundation. She has always had a passion for strategic thinking and creative communication. Her ultimate goal is to uplift the voices and stories of those who often are overlooked.

Apr 19

Professionals working or volunteering for nonprofits share how they gained new insights through alternative law program

By Sponsor Insight

by Rebecca Trimpe, writer/editor, IU Robert H. McKinney School of Law

Many professionals working and volunteering in not-for-profit organizations find it invaluable to gain knowledge of the law and how it intersects with their entity’s efforts. You don’t need a law degree to gain that skill set. Leaders at many Central Indiana nonprofits, who are graduates of or current students in the Master of Jurisprudence (M.J.) program at IU Robert H. McKinney School of Law, shared their insights into how the program has helped them in their positions.

Aura Day, who is on track to graduate in May 2021, volunteers through Families First on the crisis and suicide prevention hotline as a crisis intervention specialist. Day said she is gratified by the immediate impact the organization has on people’s lives.

“Everyone needs support and assistance during different points in their lifetime and being able to support others is not only self-rewarding but it inspires others in many ways,” Day said. “Some people need to hear it’s OK to accept assistance. I believe we aren’t supposed to do life solo. It’s really a way we can start seeing how a small gesture grows into a making a huge impact to our neighbors.” Day said the flexibility of the M.J. program held a lot of appeal because she was able to tailor the coursework to align with her specific interests and to choose from day, evening, or a combination of class times to fit into her schedule.

Arun Murali serves as President of the Board of Directors for Lawrence Township School Foundation and is on the Board of Directors for the Ronald McDonald House of Central Indiana. The 2017 M.J. graduate was drawn to IU McKinney from a desire to learn more about the legal processes that affected his business and to potentially position himself for future board member roles. Murali is passionate about not-for-profits that help people in need and in particular ones that focus on children’s needs. “I think this is an important time for non-profits in the history of the world,” Murali said. “I believe when most people hear ‘non-profit,’ they hear ‘please donate money.’ And while that is an important part of the dynamic there is so much more to it, like organizational leadership, financial management, marketing, volunteering, and more.”

Eddie Rivers, a 2017 M.J. graduate, has worked as a guardian ad litem for more than 20 years and has served many child advocacy organizations. Rivers currently is the chief development officer at Kid’s Voice of Indiana, after serving as its chief executive officer for 15 years. While he already had the skill set needed to work at the organization, Rivers wanted to understand law so that he could better manage the team of lawyers he supervised. “I ran a law firm with only managerial skills and a big heart,” Rivers said. The M.J. program allowed him to focus his coursework on child and family law so he could better understand what the lawyers he worked with were up against in their work at Kids’ Voice.

Melody Schulz took part in Leadership Johnson County (LJC) and, after completing the M.J. program in 2019, she was asked to join the organization’s board of trustees, where she serves as a member of the Alumni Relations Committee. Schulz, a 2017 M.J. graduate, said that the program taught her to think differently and helped strengthen her analytical skills, which she uses to help monitor LJCs’ finances, programs, and performance.

Maureen Shiel is on track to graduate in May 2021 and is IU McKinney’s first M.J./M.A. in Philanthropic Studies at the IUPUI Lilly Family School of Philanthropy. She serves on the board of directors for Impact 100 Indy and serves as the assistant treasurer and vice chair of a grants committee. “I am passionate about non-profit work because I value peace for the human race and our planet,” Shiel said. “I hope to contribute to transformational change in the Indianapolis community and around the world. An M.J. supports my work by enhancing my operational knowledge and ability to manage partnerships with the public sector.”

To learn more about how the M.J. program at IU McKinney, visit the law school’s website.

Rebecca Trimpe is the former editor and publisher of Indiana Lawyer. She also served as managing editor of what was then the Daily Ledger in Noblesville. Trimpe, who has a degree in political science and journalism from Indiana University, writes and edits for the I.U. Robert H. McKinney School of Law’s website, as well as print publications.

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 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

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 08

Partner, listen, learn and act to advance diversity, equity and inclusion

By Sponsor Insight

By Karin Sarratt, executive vice president, OneAmerica

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

Just as no individual can fully thrive in isolation, it takes all of us — businesses and non-profits working together — to strengthen our communities and make them more inclusive. As a Black woman and experienced business leader, I believe no organization can truly succeed unless it’s committed to diversity, equity and inclusion.

Working in the financial services industry has taught me the importance of financial security at all stages of life, and how it can ease the stress of uncertain times. I’m fortunate to work for a company that has made expanded economic empowerment and access to affordable financial security and protection key parts of its diversity, equity and inclusion (DE&I) strategy. I’m grateful that my Central Indiana-based employer, with a heritage of more than 140 years, treasures its community connections and is committed to working with nonprofit organizations to improve lives.

2020 has shown us that when it comes to making our workplaces and communities more diverse, equitable, and inclusive, we must cooperate with others to make concrete advancements together.

Here are three key actions I believe can propel collaborations between businesses and nonprofit organizations that want to make real, lasting progress:

LISTEN: Intentionally connect for the purpose of understanding what we’re all experiencing.

With all that this region, and the nation, faced in 2020, we have an extraordinary opportunity to make significant advancements in our organizations and communities.

At OneAmerica, we’ve been listening and participating at the local and national levels, and with our own workforce.

In the midst of the nation’s renewed focus on racial injustice, the OneAmerica executive leadership team conducted small-group listening sessions to better understand the experiences of our associates. By year-end, every OneAmerica leader and associate had an opportunity to participate in one or more listening sessions.

Our CEO also spent hours, in partnership with other business and community leaders, gaining inputs from local residents and organizations who shared their thoughts and stories about racial challenges and barriers.

These many voices, and the experiences behind each voice, have helped to shape our DE&I strategy.

Our next step in listening, already underway, is conducting a comprehensive organizational assessment to understand our areas of opportunity as well as our strengths. What we learn will inform our DE&I efforts in 2021 and beyond.

Meanwhile, we continue to participate in local, regional and national efforts to maximize our impact, particularly in ways that connect with our core mission of helping people achieve financial well-being.

At your organization, you may also gain insight from being an intentional listener. Be willing to ask for input — you may be surprised by what you hear.

LEARN: See how to partner more effectively to achieve common goals.

Over the decades, our connections with community organizations have led to many mutually beneficial insights and actions. As all of us continue this important work, I’m excited about additional opportunities — whether it’s sharing data, creating workforce pipelines or helping deliver financial wellness programming.

I’m especially excited about the OneAmerica Pathways programs we began in 2018 in cooperation with several local community organizations. The overall goal is to improve individual economic well-being and create career opportunities for people in our home communities. Our efforts began with our Pathways to a Sustainable Income Program, which enables all full-time OneAmerica employees to earn a sustainable income of at least $18 an hour, plus health care and retirement benefits.

In 2019, we debuted the Pathways Junior Fellows Program to build and strengthen our local workforce and improve our pipeline of diverse talent. Working with community organizations, we choose several high school students and recent high school graduates from local schools. Over the summer, they participate in an intense custom curriculum that builds career awareness and business acumen. They learn to network, to experience job shadowing and community volunteering, and to create a capstone presentation.

The program went virtual in 2020. We also added a co-op component for current college students, and we have plans to continue scaling up. We think it’s a blueprint that might work for other employers, too, and we’ve made the curriculum and program documentation available at no cost to anyone who’s interested. Visit www.oneamerica.com/pathways to access program resources.

ACT: Develop action plans focused on what we can solve together today.

After you’ve had the opportunity to listen and learn, use these insights to shape a response or action plan that’s unique to the culture of your organization. A cookie-cutter approach won’t suffice.

Our DE&I strategy is informed by collaboration with local organizations, such as United Way of Central Indiana, and the Business Equity for Indy pledge as well as key alignments nationally with the American Council of Life Insurers (ACLI) and The American College of Financial Services (TAC).

We’re working with ACLI, TAC and others on an integrated industry approach to advancing financial wellness, achieving a more inclusive workplace and culture, and workforce and career development. In addition, we’re working together on specific steps toward:

  • Expanded economic empowerment, including helping create a financial-education journey that meets underserved people where they are and inspires action, and collaborating with TAC to use its curriculum for significant community impact.
  • Increased access to affordable financial security and protection. We’re supporting the ACLI in promoting regulatory changes that eliminate potential discrimination in the delivery of our products.
  • Removal of unnecessary barriers to the ability of people of color to become licensed by or employed with the insurance industry. We also support ACLI efforts to make licensing more inclusive.

It’s an exciting time to advance diversity, equity and inclusion. I can’t wait to see what our collaborations lead to as we move forward in 2021 together.

Karin Sarratt is an executive vice president with OneAmerica, an Indianapolis-based provider of retirement plan services, including for tax-exempt organizations, as well as life insurance and long-term-care products, and employee benefits. Karin leads the following OneAmerica areas: human resources, marketing and communications, community affairs, and enterprise strategy.

Mar 01

Tools to Fast Track Philanthropy in 2021: Set the Stage for Fundraising Success

By Sponsor Insight

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

By Angela E. White, CFRE, Senior Consultant and CEO, Johnson, Grossnickle and Associates

Since March 2020, our motto at JGA has been “generosity is not cancelled.” So many things in our lives have been cancelled due to the pandemic, but generosity is not one of them. Donors have not stopped sharing their gifts of time, talent, and treasure. We have seen this generosity in support of campaigns, days of giving, and ongoing operations, as well as a continued commitment to volunteerism – although the format has changed in a virtual world.

What does this mean for 2021? As you look toward continuing to raise philanthropic support for your mission in 2021, what will you do to set the stage for generosity to continue?

A recent blog posted by the Indiana University Lilly Family School of Philanthropy offers 10 Tips for Fundraisers in 2021. Among these tips are finding new ways to collaborate, creating community virtually, engaging all of your donors, and – my personal favorite – embracing optimism. They also stress the importance of continuing to fundraise. As stated in the article, “your cause is still worthy. Your work is still impactful. Those you serve are still in need.”

At JGA, we would add the following steps as key ways to fast track your goals in 2021 and spur generosity for your organization:

  1. Create short-term plans for long-term impact. Are your institutional strategies and development initiatives tailored to your changing environment? Have you revised your current strategic plan in light of lessons learned from the pandemic? Take time now to ensure the plans that guide your organization and your development operation are relevant in this new environment and support your strategic plan.
  2. Focus on your best prospects and engage new donors. Have you recalibrated your donor portfolios for 2021? Are you successfully engaging new prospects in a virtual and/or hybrid world? Optimize your portfolios so your team is focused on the right prospects to raise more money for your mission. Many organizations will also need to create a plan to on-board new development officers and/or transition portfolios as a result of staffing changes. Nonprofits that acquired new donors from special pandemic fundraising initiatives in 2020 need to create plans to steward these relationships and retain their ongoing support in the future.
  3. Gather strategic intelligence to inform decision making. Are you contemplating the creation of a new service, communications plan, or fundraising methodology this year? You should first engage your constituents and gather the critical information needed prior to making these decisions and launching a new venture. Engage your current and prospective constituency groups in a multi-pronged information-gathering process. Data you receive during this crucial input stage can inform your decision making and avoid costly missteps.
  4. Focus on streamlining your donor data. Are your staff resources aligned to engage your best prospects early in the process? Streamlined prospect data can help you better segment your donor base and focus your efforts on those prospects most likely to make a gift in the short term. When you combine data based both on capacity and engagement using tools like Acuity® you get actionable intelligence that identifies your best prospects quickly.

JGA is here to help you assess your readiness in one or more of these areas and assist you in fast tracking your goals for 2021. We’ve even put together special service packages that can be implemented quickly and with a high return on investment to help.

Here’s to a great year!

Feb 23

Developing a shock leadership style that guides your organization during a pandemic

By Sponsor Insight

by Sara M. Johnson, FACHE

Leadership theories have been around for many years and are often based on societal norms and the evolution of how people prefer to work. We’ve had the Great Man Theory, Trait Theory, Contemporary Theories, Contingency Theories, and more.

The most recent theory being studied is Shock Leadership Theory. This latest theory is based on the leadership behaviors that are necessary to lead during the pandemic and other volatile, uncertain, chaotic, ambiguous situations — known as VUCA situations — we may face as leaders.

In 2007, Warren Bennis said he thought that two of the primary threats to world stability were leadership in the context of increased globalization and pandemics. As it turns out, he was correct. When he made that statement 13 years ago, he had no way of knowing that these two would intersect the way they have in 2020 nor that the Shock Leadership Theory would emerge.

While leadership theories continue to emerge, they tend to focus on the behaviors that leaders should exhibit. Our own leadership development pursuits lead us to programs that help us discover ways in which we can behave differently as leaders — how to be more empathetic, how to be more authentic, and how to lead with courage.

But what is it that drives our behaviors? Those behaviors are driven by who we are at our core — our values, our purpose, our heart. So, here is a question for you: Have you recently assessed your leadership core?

I expect many would answer that question with a yes. The pandemic, for all its challenges, has caused many leaders to become more thoughtful about what really matters in life. Leaders are reflecting on who they are, not just what they do.

Our values and who we are at our core drive our behavior and guide us to behave ethically, empathetically, and authentically. When VUCA situations arise, it is our values that are challenged and cause us to ask ourselves, “How should I lead in this situation?” Without clearly knowing our values and the direction those can provide, we can find ourselves adrift trying to navigate the waters of chaotic or uncertain organizational realities.

Our leadership experts at IU Executive Education have created the Holistic Leadership Series that is designed to be an individually transformative process. The series will feature one two-hour webinar on the fourth Wednesday of each month, beginning March 24 and ending Oct. 27. Beginning with the topic of “heart and spirit,” this global series examines a person’s core values, how those have developed over time, and how those values can serve them as they lead. Other topics will include embracive thinking, relational dynamics, and operational leadership.

We know transformative leaders are necessary in today’s unpredictable environment. To respond to this critical need, we have worked to ensure our global series will allow participants to interact with leaders from around the world and still be affordable for executives of all levels. The cost for this eight-part series is just $600. To find out more about the Holistic Leadership Series and to pre-register, visit the IU Executive Education website.

For more information about IU Executive Education, call 317-274-3418 or contact Sara Johnson directly via email.


To find out more about the Holistic Leadership Series and to pre-register, visit the IU Executive Education website.
IU Executive Education Holistic Leadership Series
2-hour webinar
4th Wednesday of each month, March 24-Oct. 27

Pre-register

Feb 15

7 key considerations for analyzing the impact of COVID-19 on nonprofit financial reporting

By Sponsor Insight

by Sarah Gregory, CPA, CFE, director, Alerding CPA Group

With COVID-19 having an unprecedented impact on the operations of nonprofit organizations, it’s critical, as a nonprofit leader, financial/accounting professional, auditor or board member, to consider the impact it may have on your year-end financial reporting for 2020.

As your team closes out its financial records for 2020, make sure you take into account the following key accounting and auditing considerations prior to your financial reporting engagement:

  1. Determine options for remote auditing. While access to records may be limited, auditors will still need to gain access to certain records. Ensure that your financial team takes the necessary steps to accommodate remote auditing. Prepare for this type of engagement by reviewing various remote options beforehand.
  2. Assess existing internal controls and segregation of duties over financial reporting. It’s likely they may have been impacted during the year due to staff absences or reductions.
  3. Analyze your organization’s risk for fraud. Your vulnerability to fraud risk may be heightened as a result of the current environment for added incentive or pressure to perpetrate fraud, opportunity to commit fraud, and rationalization to justify a fraudulent action. Examples of risks could include:
  • Fictious revenue – creating incentives and opportunities to record revenue that is fictious. An example could be an individual who inflates their sales since their compensation is directly tied to meeting sales targets.
  • Improper timing of revenue and expenses – improperly recording revenue and/or expenses in a period in which the revenue was not earned or delaying the expense to a later period in which the services were not performed.
  • Federal relief program applications – increased pressure to apply for Paycheck Protection Program funds, including forgiveness due to economic downturn.

4. Prepare for variances in auditing inventory. With COVID-19 disrupting operations, inventory observations may need to be postponed, conducted remotely or performed under different circumstances than prior years.

5. Account for additional disclosures. Be prepared to account for significant financial impacts related to COVID-19. They may require you to include additional disclosures within your financial statements and potential evaluation of going concern issues related to the organizations ability to continue indefinitely and being profitable.

6. Account for delayed ASU. Accounting Standard Update (ASU) 2020-05, Revenue from Contacts with Customers (Topic 606) and Leases (Topic 842): Effective Date for Certain Entities, allowed organizations to delay the effective date these ASU’s for one year. If your organization did not early adopt as of your most recent fiscal year end, you will be required to adopt these ASU 2014-09, Revenue from Contracts with Customers (Topic 606) in the current year. ASU 2016-02, Leases (Topic 842) will be effective for fiscal years beginning after December 15, 2021 and interim periods within fiscal years beginning after December 15, 2022.

7. Identify delayed payments and waived fees. If your organization received relief from creditors and lessors in the form of delayed payments, waived fees, or adjusted amortization schedules, you will need to ensure you are correctly accounting for these modifications or extinguishment of liabilities.

The impact of COVID-19 will continue to be felt for years to come. As you close out your financial records and prepare for your financial reporting services, make sure you include these considerations as part of your process.