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Jan 23

Lessons learned from Wall Street

By Sponsor Insight

Strategic planning can help organizations navigate unexpected challenges

by Jan Frazier, owner, PlanningPlus

While home with COVID-19 during December, I watched nearly every movie made about the 2008 housing crisis: Boiler Room, Wall Street, Margin Call, Too Big to Fail, The Big Short, The Wolf of Wall Street. It was interesting looking back at the beginnings of that financial disaster now that we have lived through it. But what I found most interesting was that every movie espoused the same philosophies — greed and self-interest. And that’s not just my interpretation: Every movie actually had those words spoken by one or more characters.

Times have changed … sort of. The 2008 financial crisis, in which little people got hurt but those too big to fail didn’t, was only a precursor to what would become an even worse economic crisis in this country, caused not by corporate greed but by a virus.

A lot of people got hurt, primarily those lowest on the economic scale in service and retail jobs. The government stepped in with myriad loans and stimulus payments, yet we are now hearing of rampant fraud and how some of that money was actually spent. Greed and self-interest?

So, I ask myself, what did we fail to learn? Or better yet, how can we take those lessons as leaders into our organizations?

Lesson 1. One of the critical mistakes Wall Street made prior to the housing crisis was to believe “housing never goes down.” They took their historic understandings of the market and assumed it would be business as usual. Of course, it wasn’t. They failed to consider threats, unknowns, and possible risks when making corporate decisions. They never considered the fact that the housing market would collapse.

As leaders, we must never assume anything. The donor who just loves us passes away or, worse, sends money elsewhere. Or the grant we have received for the last 20 years disappears, with little warning. A regulatory change upends everything. Hence, one of the key purposes of strategic planning. During an effective planning session, you will be asked to think about what might be the unthinkable — both wonderful and tragic — then consider the value of creating a Plan B. It’s important to look outward instead of focusing primarily inward and only what we can see.

Lesson 2. There was much behind-the-scenes juggling going on between the investors on Wall Street, the banks, and the government. Who wins? Who loses? Who is the example? It is critical to understand who your partners are, how you are valuing them, and establishing relationships so that a call or email gets answered. Identify a confidante or two since it’s lonely at the top. Again, during effective strategic planning, review who your partners are and how well you are connected because we often take those relationships for granted.

Lesson 3. Those who entered the housing market as buyers were treated as commodities, lumped together. Personal stories held no sway. Be sure that you treat each of your stakeholders as unique, whether large funder or individual donor. A prequel to any strategic plan should be to ensure the entire leadership staff knows who their stakeholders are and treat each one with respect.

Of course, as strategic planners, these issues tend to jump out at me and my colleagues. And we all need to be reminded during these uncertain times that if we don’t learn lessons from the past we are certainly doomed to repeat them.

Aug 30

Donor engagement and retention techniques: Invest time now to solidify donor relationships

By Sponsor Insight

by Andy Canada, senior consultant, director of data analytics, Johnson, Grossnickle and Associate

While we need to work to engage all of our donors, many nonprofits have experienced the benefit of an influx of new donors in response to the pandemic’s challenges. What can you do to engage and retain these new donors as well as deepen your relationships with your existing donor pool?

Donor Engagement

While we are operating in unusual times, you do not want to throw out your tried-and-true ways of engaging and stewarding your donors. But, you might consider adding the following strategies as well.

Personal connections: Think creatively about how to create personal connections with donors, such as engaging with donors via FaceTime to capture a specific meaningful moment at your organization. Engage board members, leadership team members, volunteers, and other donors in thank you calls. Hearing from someone new will expand donors’ connections and engagement with your organization.

Technology techniques: Using technology to your advantage has hopefully become easier than ever over the past year. There are multiple platforms that can be very effective with donors who are now more familiar with different means of communicating. Tell your story from the perspective of those you serve — send short video messages telling the story of how lives have been changed by gifts from generous donors. You might also share short “day in the life” videos from the heart of your organization — such as the teacher, direct care staff, curator, cook — to give a glimpse into real-world impact.

Peer engagement: Encourage peer-to-peer fundraising or use third-party events to deepen engagement and spread your reach. Personal referrals will never go out of style. Identify donors who can advocate on your behalf to reach out and engage new donors. This will create an additional touchpoint and provide a way to ask for additional support from a peer or for a specific program.

Donor Retention

Research from the Fundraising Effectiveness Project indicates first time donors only donate again about 20 percent of the time. However, if a donor makes a second donation, the chance of them continuing to contribute is 60 percent. Invest in new donors now, because retaining a donor for multiple years will more than make up for the initial investment.

Welcome them: Work quickly to welcome and engage new donors as soon as they make their first donation. Create a welcome plan for new donors, that goes beyond a welcome packet. Within 48 hours of their gift, send sending a thank-you card or a handwritten note from a leadership staff or volunteer. Then, continue to reach out with special touches throughout the year — maybe a personal email with a picture or short personal video clip.

Create a connection: Create high levels of buy-in from your donors by building their sense of investment in the organization. Follow up to promote opportunities for them to get involved in a non-monetary way, such as volunteering. Volunteers are among the most motivated donors. Develop ways to engage volunteers remotely during the pandemic, if possible, but also just make sure you stay in touch with your volunteers now so that when it is safe to return to in-person volunteer activities, your donors are still engaged and committed.

One way to stay in touch is by offering them opportunities to give feedback. Ask for their advice via an electronic survey, email exchange, or phone call. Allow donors to openly share what motivates them to give and use that information to identify potential gaps in your program. One caution though, be prepared if you ask for feedback, to act on it and implement changes as needed.

Plan for their next gift: Create a “second gift” strategy for new donors before the one-year anniversary of the first gift. Many organizations mistakenly wait until the first-year anniversary of a gift before reaching out and asking for another gift. While acknowledging the anniversary of a gift is a great strategy, don’t let that be the first-time new donors hear from you again.

To help retain donors, it is also important to make giving easy. First and foremost, you need to make sure your online donation page is mobile responsive and user-friendly. Then, make sure you offer donors a recurring gift option and tell them how a consistent gift can benefit those you serve. You can also promote low dollar amount gifts ($5 to $15) to re-engage first-time donors and encourage them to give regularly.

Matching gifts are not just for major gift programs or capital campaigns, they can also be very effective in retaining new donors. Secure a challenge gift from one of your long-time supporters to encourage new donors to give a renewal gift or enter a monthly giving society.

Finally, think through how you can identify those new donors who may have the potential to make a major gift if cultivated and engaged properly. Make sure you conduct electronic screening on new donors you may have gained over the past year. Determine if any should be assigned to a major gift officer for more personal engagement.

If you put in the work early on to retain new donors and stay engaged with your existing donors, they will stick with you when it counts.

Andy Canada is senior consultant and director of data analytics at Johnson, Grossnickle and Associates, a strategic consulting firm located in Indiana that focuses on higher education.

Jun 28

Hundreds of Hoosiers participate in free wellness program designed to combat stress, trauma, PTSD and burnout

By Feature

Eskenazi Health and Center for Mind Body Medicine training provides attendees with tools for healing in the midst of pandemic

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

As experts seek to gain a better understanding of the long-term impact of COVID-19 on mental health, about 1,500 Hoosiers have recently enrolled in evidence-based training to proactively equip themselves with self-care tools, including meditation, guided imagery and biofeedback under Eskenazi Health’s Hoosier Heartland Healing Collaborative.

The free statewide initiative, which is sponsored by Eskenazi Health, in partnership with the Center for Mind Body Medicine, comes at a time when people are increasingly acknowledging the need for managing stress and trauma, said Megan Hider, Mind-Body Program supervisor at Eskenazi Health.

“I do think the conversation has really changed, in a good way, about how we think about stress, and our emotional health, spiritual health and how we physically function,” Hider said. “Wellness and mindfulness have become more mainstream throughout society. We’ve all been dealing with trauma and secondary trauma. We need to chip away at the stigma of trauma, whether it’s everyday trauma or a natural disaster, or whatever we experience.”

As part of the program, which was partially funded by the Herbert Simon Family Foundation, individuals participate in small groups of 8 to 10 people led by a facilitator who has gone through a two-part training program. The participants are asked to commit to a series of 2-hour weekly sessions during an 8-week period. As part of the training, participants learn numerous self-care skills that have been scientifically proven to lower levels of stress, improve mood, enhance resiliency and optimism, and help prevent chronic health conditions.

Hider said that the free training, which is open to any Indiana resident, can better equip first responders and other employees who are in a position of helping others. By learning the self-care techniques themselves, they can manage the stressors in their own lives so that they can better focus on helping others in challenging situations. “With everything we’ve been going through in the past year, it came at a perfect time,” she said.

The benefits of the training were quickly evident, said Christy Gauss, MSW, LSW, owner of SCP Consultants and a former school mental health facilitator for the Indiana School Mental Health Initiative. Gauss, who underwent intensive training to become a licensed group facilitator under the Mind Body program, said it was a powerful experience.

“I didn’t know what to expect when I went into it,” Gauss recalled. “You learn the science and skills of self-care in an environment where you have peer-to-peer support. It’s all about you and what it means in your own life before you start learning how to teach everyone else.”

Gauss said that type of firsthand learning is essential for those who support others, including first-responders, teachers and nonprofit employees. The potential for burnout can be significant for these groups, she added.

“You have to learn how stress is impacting you first,” she said. “You need to put on your own oxygen first, which we can be very bad at.”

Hider said the training can be very empowering for the attendees, who are able to devote an uninterrupted span of time to focus on themselves during each session. “It gives you space to become self-aware of your feelings, emotions and body sensations,” she said. “You’re able to learn about the physiology of the body and what happens when you’re stressed and when you’re calm.

“You are given the ability to heal yourself in a unique way that doesn’t happen in other spaces,” Hider added. “If we want to show up to places of service and places of community, we must be advocates for ourselves.”

For more information about the Eskenazi Health Hoosier Heartland Healing Collaborative or to sign up for a session, visit the program’s site here.

Jun 21

Developing a successful hybrid-work model

By Sponsor Insight

By Cody Lents, Partner and Change Manager at COVI, Inc.

Empower employees with choice
As vaccinations trend up and restrictions trend down, a significant number of workers are set to return to the office in coming months. Your extroverted employees are undoubtedly excited. However, their introverted counterparts may not share the same enthusiasm. So, how can you maximize morale and culture to enable the best performance out of both groups?: A thoughtfully-designed hybrid Work-from-Home (WFH) model that prioritizes both the needs of your organization’s employees and processes.

Lay the groundwork for success
The first critical step in transitioning into a hybrid WFH model is developing and communicating processes that level the playing field for both in-house and remote workers. Set clear expectations about your organization’s internal communications, cyber insurance, bring-your-own-device (BYOD) policy, etc., to ensure that remote workers don’t feel left behind compared to their in-person colleagues.

While remote work can be an opportunity to cut “traditional” office costs, leverage it as an opportunity to invest in your workforce. Consider using what your organization saves on overhead to provide your employees with a stipend to make working remotely more comfortable. This allows employees to outfit themselves at home with equipment like an ergonomic chair, an extra monitor, noise-canceling headphones, etc.

At the office, consider re-developing your organization’s layout to better accommodate a hybrid approach: dedicated “open-space” plans for those in and out of the office, private offices for focused work, and spaces specifically designed to encourage collaboration/socialization both face-to-face and virtually.

Invest in your infrastructure
The next critical step in transitioning your organization to a hybrid approach is ensuring your infrastructure is capable of handling the needs of employees working in different spaces. Now may be the time to upgrade your organization’s software to the enterprise level so that you can take advantage of security, communication and collaboration features.

Migrating your organization’s servers to the cloud is another way to streamline efficiency for your remote workforce. This makes it easier for your employees to collaborate and share files via a centralized location in which they can upload/save their work to.

Don’t compromise on security
With employees using a mixture of personal and company devices, it’s imperative that your organization communicates a clear security policy to ensure the safety of your data. The following three steps are a great start to a more secure digital infrastructure:

  • Determining what endpoint protection your remote workers need will aid in virus prevention. Windows Defender is a great antivirus software included in Windows 10, however, it does not meet the compliancy and security minimums of today’s security landscape.
  • Implementing two-factor authentication [2FA] is a secure way to ensure that only admins and users are allowed into accounts that would otherwise be vulnerable to cyber attacks.
  • Utilizing a virtual environment that allows devices to connect to a secure server or service, as opposed to a user’s internet connection, allows your organization to keep information encrypted, private, and safe.

Questions?
Now is the perfect time for a comprehensive technology assessment to prepare for the new-normal in our evolved workspaces. If you want to discuss what an assessment entails or if you need assistance implementing a hybrid-work approach 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.

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.

Nov 09

Nonprofit tech leader and executive Jay Love outlines 7 trends and lessons to embrace in 2021

By Feature

Bloomerang CRO and co-founder encourages nonprofits to engage in out-of-the-box thinking to prepare for the coming year

With 2021 quickly approaching, there’s little doubt that nonprofits will continue to navigate the challenges caused by the unprecedented combination of a pandemic, social unrest, food insecurity and high unemployment rates. Yet, the year can represent a period of significant and, in some cases, much needed growth for small- to medium-sized nonprofits, according to Jay B. Love, Bloomerang’s Chief Relationship Officer and co-founder.

In sharing his insights on the best path forward in 2021, Love highlighted ways for nonprofits to better engage with corporate partners, supporters and volunteers, and explore more effective and cost-efficient ways to leverage technology. He also predicted that nonprofits will increasingly use artificial intelligence to develop meaningful relationships with supporters, and that two-factor authentication to enhance data security will become commonplace.

Here are Love’s insights:

1. Lean into the virtual lessons taught by COVID-19. “2021 is a time for thinking outside the box, as the old saying goes,” Love said. “We can still fulfill our mission without doing things the old-fashioned way.”

While the shift to a virtual work setting may have been initially painful for some nonprofits, the benefits of doing so can be long lasting, according to Love. “Every nonprofit has had to learn how to embrace technology in a greater fashion because of the need for so many of them to work from home,” Love said. “It caused a lot of systems to be revolutionized.”

As a result of the increasing reliance on web applications, nonprofits are now able to realize some of the advantages they bring, including streamlined processes, and more frequent touchpoints with supporters, volunteers and the community.

Now that a significant portion of the population has become accustomed to functioning in a virtual world, Love said, there will be an increasing acceptance of virtual connections. “I don’t think business travel is ever coming back,” he said. “People have realized that you can do business remotely and easily talk to people this way. For a lot of nonprofits, 50 percent or more of their workforce will continue to work from home. It’s not just the future. We all have lived with this pandemic and realized it works very, very well.”

For nonprofits, virtual connections can represent a bonus. It allows them to broaden their reach, as well as hire talent anywhere in the country. “You can live in Florida and work for a nonprofit in Indianapolis and do it very, very well.”

Meeting with a supporter or a board member can be as simple as finding a 30-minute slot on your calendars, without the need for travel.

2. Recruit tech-savvy board members. In 2021, as nonprofits increasingly leverage technology, some nonprofit teams may feel at a disadvantage because they don’t have the funds to hire a full- or part-time digital marketing professional. Love recommended analyzing your board composition to determine if there’s room for growth. “It’s very important to have board members who not only have the capability to help you embrace technology but who fully enjoy doing it,” Love said. “If every small nonprofit had one or two board members with those capabilities, it would help them bridge the gap.”

3. Seek partnerships with local tech companies. In addition to recruiting assistance from board members, Love recommended developing partnerships with local tech companies to recruit tech-savvy volunteers. “There are about 150 tech companies in Indianapolis. If someone were to contact them, they would love to do volunteer work in some way, even if it is remotely,” Love said. “It would make employees feel better about their employer as well the nonprofit. You probably will end up having lifelong volunteers and donors.”

4. Be more strategic about using volunteers. Love also pointed out that many nonprofits appear to be missing out on critical opportunities to use volunteers in more effective ways. Every quarter, Bloomerang’s team offers one of its nonprofit clients the opportunity to use as many as 50 of its employees to help with volunteer work. In one instance, a nonprofit responded that they had no idea how they would use the volunteers. In other cases, the Bloomerang volunteers have been assigned to tasks like yard work, Love observed.

“I’ve got network geniuses … people who know everything about technology and they have them moving mulch and painting walls,” Love said. “Those young men and women would love to go there and help them set up apps and would enjoy it more than moving mulch around.”

During one of their volunteer projects, Bloomerang employees were unable to complete their outdoor project because of inclement weather. “It was storming so we had 25 people who went inside the building and, during the course of the morning. All they did was enjoy doughnuts and coffee, and write handwritten thank you notes,” Love recalled. “They came back and said it was the most rewarding volunteer experience they ever had. However, if we hadn’t raised our hand and said, ‘Hey, why don’t we help you do this?’ they would have never thought of it.”

5. Embrace relationship building via artificial intelligence and other technology. Instead of waiting for things to get back to “normal,” strategically create a new normal when it comes to relationship building virtually, Love recommended. “COVID is not going away in 2021. It’s going to be here,” he said. “Nonprofits that are embracing web-based technology to build relationships with their supporters, volunteers and vendors are seeing unbelievable results.”

Love said that artificial intelligence (AI is continually evolving, opening the door to more personalized connections with supporters. “We are already seeing that artificial intelligence can take a look at what’s in a database and create a rough draft of an email or letter, never missing anything that needs to be communicated with a volunteer or a supporter,” he said. “It will issue prompts of when you’re supposed to be communicating with donors, supporters and volunteers. If it’s buried deep in your database that my anniversary of supporting your organization is coming up or that my dog’s birthday is coming up, it will issue a prompt for the ideal time to send a message.” Love said that it’s the equivalent of being a best friend to your supporters. “You may be able to do that with four or five of your friends, but if you have a database of 1,000, 5,000 or 20,000 constituents, you need AI to issue those prompts.”

Bloomerang’s platform already is operating with a significant amount of AI to help clients build relationships with their constituents, Love noted. “If you have a first-time donor, for instance, we will prompt you three or four times in the first several months on how to follow up with that person,” he said. “When someone is about ready to lapse and not being retained, without donating again, we also set up a series of prompts.”

The platform also scans communications, such as emails, to ensure that there is more focus on talking about the person instead of the organization.

Love also said that nonprofits can encourage their supporters to use technology as part of their digital outreach. “Volunteers and supporters are able to reach out to their own personal network on behalf of your organization,” he said. “Now it’s not uncommon for an avid supporter of your organization to open up their email address book on #GivingTuesday and help you get an additional 10 to 20 donors very easily.” He also said that supporters are increasingly asking Facebook friends to support their favorite charity on their birthdays.

He predicted that more apps, similar to Twitter and Facebook, will become more commonplace to elevate communications on behalf of nonprofits.

6. Enhance your messaging to reflect current events. Love also recommended nonprofits revisit their messaging to ensure that they are elevating their mission during this time of crisis. For example, he said, an organization that must move job training online can highlight the increased need for those type of services and the expenses required to deliver them.  He also said that it’s important to include details about the anticipated results. “Any time you’re reaching out to gain support for your mission, you should talk about the results you’re achieving,” he said.

7. Anticipate stricter data security measures becoming the norm. Lastly, the population will start embracing stricter security measures that are tied to their financial records. “It used to be that people would complain about having to enter a password,” he said. “In the near future, they’re going to embrace a deeper level of authentication, including two-factor authentication, to make donations or to access information.”