Non-Profits Impacting the Economy

Mrunmayee Honrao | July 14, 2022 | 606 views | Read Time : 02:05 min

Non-Profits Impacting article
While it's obvious how non-profits directly improve people's lives, their positive contributions to the US economy are frequently overlooked. A closer examination reveals that non-profit organizations have a large and far-reaching impact on the American economy. Non-profits, in fact, improve and strengthen local, state, and national economies in a variety of ways, including the following:

  • The more than $826 billion spent on salaries, benefits, and payroll taxes by non-profits each year accounts for a sizable portion of their nearly $2 trillion annual budget. Non-profit employees also pay taxes on their salaries, as well as sales taxes and property taxes on what they own.
  • Non-profits that provide care for children or elderly parents allow family members who would otherwise be responsible for providing care to work outside the home. Non-profit organizations also offer job training and placement services to people who would otherwise be unemployed or underemployed.
  • Non-profits spend nearly $1 trillion on goods and services each year, ranging from large expenses like medical equipment for non-profit hospitals to small purchases like office supplies, food, utilities, and rent.
  • Non-profits have an even greater impact because they generate economic activity and jobs that spread throughout the community. Consider arts programming as one example. By attending a play at a local non-profit community theater, you likely helped local businesses as well as the cast, crew, and administrative staff. Have you paid for parking? Did you purchase the appropriate earrings, shoes, or tie for the occasion? Did you eat before the show or meet up with friends afterwards? If this is the case, you have increased the economic impact of that theater by helping to create more jobs in the local economy while also increasing tax revenue for the local government.
  • Have you ever noticed how local non-profits are frequently mentioned in brochures for local chambers of commerce as a top reason for businesses to locate there? Many cities are proud of their beloved cultural amenities, such as non-profit museums and performing arts centres. Non-profit colleges, which demonstrate the value of an educated workforce, and non-profit healthcare facilities, which reinforce a commitment to well-being, are also common features. While these local icons are rarely labelled as "non-profits" in brochures, business leaders intuitively recognize the enormous value that local non-profits contribute to the community's quality of life.

Spotlight

IndependenceFirst

A leader in the independent living movement for people with disabilities, IndependenceFirst is a nonprofit organization headquartered in Milwaukee, WI. IndependenceFirst advocates for the rights of and access for people with disabilities. Over 50% of its office staff, management and Board have disabilities themselves. IndependenceFirst provides direct services to people with disabilities in the Milwaukee region and a few statewide services. The organization has a large local, regional, statewide and national advocacy role.

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IndependenceFirst

A leader in the independent living movement for people with disabilities, IndependenceFirst is a nonprofit organization headquartered in Milwaukee, WI. IndependenceFirst advocates for the rights of and access for people with disabilities. Over 50% of its office staff, management and Board have disabilities themselves. IndependenceFirst provides direct services to people with disabilities in the Milwaukee region and a few statewide services. The organization has a large local, regional, statewide and national advocacy role.

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GREENMAP Gets Grants from the Rockefeller Foundation to Develop Clean Power Sector

The Rockefeller Foundation | February 01, 2023

On January 31, 2023, an impact-driven and independent nonprofit organization GREENMAP supporting governments in emerging and developing countries, announced that it has received a grant from the Rockefeller Foundation. The grant was to recognize the key factors underlying the development of a flourishing and investable clean power sector in emerging markets. During this year, GREENMAP will identify, incorporate, and capture the key dimensions required to create a new diagnostic tool. The new tool is useful in scaling climate financing to assist governments and investors. GREENMAP, which has worked on risk assessment, bankability, and auction design to encourage private investments in clean energy in the Global South, will move the research and analysis forward in a complementary and all-encompassing way, creating a consistent method that can be used widely and at scale. The research would improve the already available tools and methodologies. It will expand and complement tools and technologies to build a toolkit to guide investments from governments, clean energy investors and philanthropies. The collaboration with GREENMAP is part of the Rockefeller Foundation's effort to bring climate change into the focus of all the other work, including launching the Global Energy Alliance for People and Planet (GEAPP) at COP26 with a $500 million commitment; it is the largest commitment made in the 110 years of Rockefeller Foundation along with additional funding from Bezos Earth Fund and IKEA Foundation. GEAPP's aim is shifting to clean energy and supporting developing countries. The goal of GEAPP is to create 150 million new jobs, cut future carbon emissions by four gigatons, and give 1 billion more people access to clean energy. About GREENMAP Global Renewable Energy Mass Adoption Program (GREENMAP) is a nonprofit organization that is impact-driven and independent. The organization's goal is to help eradicate energy poverty in the developing world by lowering the risks of long-term infrastructure investments, promoting clear and stable rules to encourage competition, and promoting the use of clean energy solutions and technologies. It was founded in 2020 to mobilize investments to install a minimum of 200 GW of new renewable capacity by implementing its solution in more than 25 developing countries in ten years. About The Rockefeller Foundation Founded in 1913, the Rockefeller Foundation has built on collaborative partnerships at the frontlines of technology, science, and innovation that enable families, individuals, and communities to flourish. The company focuses on scaling renewable energy for all, encouraging economic mobility and ensuring equitable access to healthcare.

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NONPROFIT MANAGEMENT

Vanguard Charitable celebrates 25 years of giving and more than $15 billion granted to nonprofits

Vanguard Charitable | December 09, 2022

Vanguard Charitable, a leading U.S. nonprofit organization and sponsor of donor-advised funds (DAFs), today announced that its donors have granted more than $15 billion to nonprofits since its inception in 1997. This record granting comes as the organization celebrates a quarter century of operations and represents tremendous growth in giving, with total grants in the past 5 years equaling the total from the organization's first 20 years. "These momentous milestones are a testament to our organization's resilience and sustainability and our donors' commitment to the nonprofit sector," said Rebecca Moffett, president of Vanguard Charitable. "So much has changed over the past 25 years, but one thing that has remained is our focus on increasing philanthropy and maximizing its impact over time. I am grateful to work alongside our strategic donors and passionate team as we drive this critical mission forward and truly make a difference in the world." A grantmaker that has increased philanthropy for a quarter century For 25 years, Vanguard Charitable has partnered with donors to help them commit, grow, and distribute charitable assets to effect even greater change locally, nationally, and globally. On the strength of sound, cost-effective charitable investments, Vanguard Charitable has generated an additional $4.3 billion in investment returns for the charitable sector since the organization's inception. Beginning as a little-known way to provide ongoing support to charities in need, DAFs in general have grown into a nationally recognized strategic giving vehicle that, in 2021 alone, granted more than $45 billion to nonprofits. "It has been incredible to watch the evolution and adoption of donor-advised funds," said John J. Brennan, board chair at Vanguard Charitable. "A DAF is a powerful giving tool, one that has connected countless donors with nonprofits, effectively changing the lives of those most in need. Looking ahead, we will continue to push ourselves and our donors to be even more strategic by providing the tools and resources necessary to empower meaningful philanthropy." Over the past 25 years, Vanguard Charitable has witnessed: Donors support critical cause areas, with nonprofits in Human Services (29%), Religion (24%), and Education (15%) receiving a significant share of the nearly 1.5 million grants issued since inception. More than 113,000 unique nonprofits receive dedicated grants to further their missions. Many donations of non-cash assets, representing 80% of contributions to Vanguard Charitable in 2021 alone, which exemplifies how DAFs unlock new funds that may be difficult for other charities to accept. Donor account growth of 41% per year since 1997, reaching nearly 28,000 accounts today. The longevity and commitment of donors to a strategic form of giving, with a current average account tenure of nearly 7 years.Since inception, Vanguard Charitable has worked to build strong relationships between donors and nonprofits to foster trust and encourage larger and more thoughtful donations to a greater variety of causes. Building trust and donor-nonprofit relationships Focusing on transparency: Donors want to be certain they are supporting vetted and credible nonprofits. By encouraging nonprofits to create public profiles like those on Candid and Charity Navigator and to keep their websites up to date, Vanguard Charitable helps to decrease fraud, increase information sharing, and speed up the rate at which donors give, especially when they are acting quickly to support disaster relief efforts. Increasing donor commitment: When donors are armed with information and feel confident in a nonprofit's mission and operations, they are more likely to maintain a consistent giving strategy. The average size of a Vanguard Charitable donor's repeat grant to a charity is $8,700. Encouraging trust-based philanthropy: Nonprofits benefit when donors trust their executive team and board to make the best decisions for the organization to achieve its mission. Today, more than half of the grants recommended by Vanguard Charitable donors are unrestricted, empowering nonprofits to allocate funds as they deem best. Leveraging the counter-cyclical nature of DAFs: Strong relationships between DAF donors and nonprofits can often lead to critical funding during a down market or a crisis – especially when more traditional sources of donations decrease. Vanguard Charitable donors issued $1.3 billion in grants in the first ten months of the COVID pandemic, responding to the crisis and the urgent needs that came out of it. Continuing to drive philanthropic impact forward Over the years, Vanguard Charitable has strived to support donors' near- and long-term giving. This often includes the creation of resources and strategies that increase the reach and impact of every dollar granted. Recently, Vanguard Charitable has spearheaded: Assistance in discovering charities: A myriad of resources help Vanguard Charitable donors find and choose charities aligned with their giving goals. The recently launched Nonprofit Aid VisualizerTM (NAVi) connects donors with nonprofits responding to the COVID crisis or to hunger and homelessness. The latter two causes are a top priority of Vanguard Charitable donors, who have granted more than $300 million to nonprofits addressing hunger and homelessness since November 2021. Significant savings in the cost of giving: Low fees equate to more money for granting, which is why Vanguard Charitable has championed reducing the cost of giving across the sector over its 25 years. Due to efficiency gains and innovations in giving, the average cost to maintain a Vanguard Charitable DAF has decreased by nearly 40% in the last 15 years, allowing donors to give effectively while maximizing total dollars for charity. Quicker payment to nonprofits: Vanguard Charitable has continually worked to address challenges faced by its nonprofit partners. A recent sector-wide innovation, Grant Payments, will enable charities to receive grants more quickly, not just from Vanguard Charitable, but from partners across the nonprofit sector. The initiative will launch in 2023. About Vanguard Charitable: Vanguard Charitable is a leading U.S. nonprofit organization that fulfills its mission to increase philanthropic giving by administering a donor-advised fund—a tax-effective way to consolidate, accrue, and grant assets to charity. Since it was founded by Vanguard[1] in 1997 as an independent 501(c)(3) organization, Vanguard Charitable has granted more than $15 billion to charity.

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Henry Repeating Arms Presents $25k to National Fallen Firefighters Foundation

National Fallen Firefighters Foundation (NFFF) | February 03, 2023

One of America's leading firearms manufacturers, Henry Repeating Arms, with the hallowed and historic Memorial Chapel as the backdrop, presented a donation of $25,000 to the National Fallen Firefighters Foundation (NFFF). Congress created the nonprofit in 1992, and private donations help it provide programs and support for the families and coworkers of those who die each year in the line of duty. The annual National Fallen Firefighters Memorial Weekend is included as a part of the support, which honors the firefighters who died in service the previous year and brings together the immediate family members for the additional programs. In addition, the Foundation recognizes education and job training scholarships to life partners/spouses and children of fallen firefighters alongside helping departments cope with the loss of a valued team member. The Henry Repeating Arms has been donating $275,000 to organizations benefiting first responders and their family members from the company's charitable branch, Guns of Great Causes, since June 2022. In addition, the gunmaker has incorporated the ornate hand-painted, engraved, and 24K gold-plated Firefighter Tribute Edition rifle as its permanent product catalog, built 'in recognition of America's bravest' from the past ten years. About National Fallen Firefighters Foundation (NFFF) Chartered by Congress in 1992, the National Fallen Firefighters Foundation is a nonprofit organization, has developed and expanded programs to honor fallen fire heroes and help their families and coworkers. In addition to its efforts to reduce deaths and injuries sustained in the line of duty, the NFFF collaborates extensively with other fire services and life safety groups. The Foundation is a Maryland nonprofit with headquarters in Emmitsburg and status as a 501(c)3. The Foundation includes all expenses related to attending the memorial service for the family members of the fallen firefighters; further, it lets Foundation take part in both the private and public memorial services, as well as the Family Day sessions led by professional grief counselors. About Henry Repeating Arms Founded in 1996, Henry Repeating Arms is one of the US's leading lever action and long gun manufacturers. It manufactures a line of classic firearms that are affordable. The company is well-known for its Guns for Great Causes charity program, which aids families with sick children, children's hospitals, veteran organizations, Second Amendment advocacy groups, wildlife conservation organizations, and law enforcement and first responder groups.

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GREENMAP Gets Grants from the Rockefeller Foundation to Develop Clean Power Sector

The Rockefeller Foundation | February 01, 2023

On January 31, 2023, an impact-driven and independent nonprofit organization GREENMAP supporting governments in emerging and developing countries, announced that it has received a grant from the Rockefeller Foundation. The grant was to recognize the key factors underlying the development of a flourishing and investable clean power sector in emerging markets. During this year, GREENMAP will identify, incorporate, and capture the key dimensions required to create a new diagnostic tool. The new tool is useful in scaling climate financing to assist governments and investors. GREENMAP, which has worked on risk assessment, bankability, and auction design to encourage private investments in clean energy in the Global South, will move the research and analysis forward in a complementary and all-encompassing way, creating a consistent method that can be used widely and at scale. The research would improve the already available tools and methodologies. It will expand and complement tools and technologies to build a toolkit to guide investments from governments, clean energy investors and philanthropies. The collaboration with GREENMAP is part of the Rockefeller Foundation's effort to bring climate change into the focus of all the other work, including launching the Global Energy Alliance for People and Planet (GEAPP) at COP26 with a $500 million commitment; it is the largest commitment made in the 110 years of Rockefeller Foundation along with additional funding from Bezos Earth Fund and IKEA Foundation. GEAPP's aim is shifting to clean energy and supporting developing countries. The goal of GEAPP is to create 150 million new jobs, cut future carbon emissions by four gigatons, and give 1 billion more people access to clean energy. About GREENMAP Global Renewable Energy Mass Adoption Program (GREENMAP) is a nonprofit organization that is impact-driven and independent. The organization's goal is to help eradicate energy poverty in the developing world by lowering the risks of long-term infrastructure investments, promoting clear and stable rules to encourage competition, and promoting the use of clean energy solutions and technologies. It was founded in 2020 to mobilize investments to install a minimum of 200 GW of new renewable capacity by implementing its solution in more than 25 developing countries in ten years. About The Rockefeller Foundation Founded in 1913, the Rockefeller Foundation has built on collaborative partnerships at the frontlines of technology, science, and innovation that enable families, individuals, and communities to flourish. The company focuses on scaling renewable energy for all, encouraging economic mobility and ensuring equitable access to healthcare.

Read More

NONPROFIT MANAGEMENT

Vanguard Charitable celebrates 25 years of giving and more than $15 billion granted to nonprofits

Vanguard Charitable | December 09, 2022

Vanguard Charitable, a leading U.S. nonprofit organization and sponsor of donor-advised funds (DAFs), today announced that its donors have granted more than $15 billion to nonprofits since its inception in 1997. This record granting comes as the organization celebrates a quarter century of operations and represents tremendous growth in giving, with total grants in the past 5 years equaling the total from the organization's first 20 years. "These momentous milestones are a testament to our organization's resilience and sustainability and our donors' commitment to the nonprofit sector," said Rebecca Moffett, president of Vanguard Charitable. "So much has changed over the past 25 years, but one thing that has remained is our focus on increasing philanthropy and maximizing its impact over time. I am grateful to work alongside our strategic donors and passionate team as we drive this critical mission forward and truly make a difference in the world." A grantmaker that has increased philanthropy for a quarter century For 25 years, Vanguard Charitable has partnered with donors to help them commit, grow, and distribute charitable assets to effect even greater change locally, nationally, and globally. On the strength of sound, cost-effective charitable investments, Vanguard Charitable has generated an additional $4.3 billion in investment returns for the charitable sector since the organization's inception. Beginning as a little-known way to provide ongoing support to charities in need, DAFs in general have grown into a nationally recognized strategic giving vehicle that, in 2021 alone, granted more than $45 billion to nonprofits. "It has been incredible to watch the evolution and adoption of donor-advised funds," said John J. Brennan, board chair at Vanguard Charitable. "A DAF is a powerful giving tool, one that has connected countless donors with nonprofits, effectively changing the lives of those most in need. Looking ahead, we will continue to push ourselves and our donors to be even more strategic by providing the tools and resources necessary to empower meaningful philanthropy." Over the past 25 years, Vanguard Charitable has witnessed: Donors support critical cause areas, with nonprofits in Human Services (29%), Religion (24%), and Education (15%) receiving a significant share of the nearly 1.5 million grants issued since inception. More than 113,000 unique nonprofits receive dedicated grants to further their missions. Many donations of non-cash assets, representing 80% of contributions to Vanguard Charitable in 2021 alone, which exemplifies how DAFs unlock new funds that may be difficult for other charities to accept. Donor account growth of 41% per year since 1997, reaching nearly 28,000 accounts today. The longevity and commitment of donors to a strategic form of giving, with a current average account tenure of nearly 7 years.Since inception, Vanguard Charitable has worked to build strong relationships between donors and nonprofits to foster trust and encourage larger and more thoughtful donations to a greater variety of causes. Building trust and donor-nonprofit relationships Focusing on transparency: Donors want to be certain they are supporting vetted and credible nonprofits. By encouraging nonprofits to create public profiles like those on Candid and Charity Navigator and to keep their websites up to date, Vanguard Charitable helps to decrease fraud, increase information sharing, and speed up the rate at which donors give, especially when they are acting quickly to support disaster relief efforts. Increasing donor commitment: When donors are armed with information and feel confident in a nonprofit's mission and operations, they are more likely to maintain a consistent giving strategy. The average size of a Vanguard Charitable donor's repeat grant to a charity is $8,700. Encouraging trust-based philanthropy: Nonprofits benefit when donors trust their executive team and board to make the best decisions for the organization to achieve its mission. Today, more than half of the grants recommended by Vanguard Charitable donors are unrestricted, empowering nonprofits to allocate funds as they deem best. Leveraging the counter-cyclical nature of DAFs: Strong relationships between DAF donors and nonprofits can often lead to critical funding during a down market or a crisis – especially when more traditional sources of donations decrease. Vanguard Charitable donors issued $1.3 billion in grants in the first ten months of the COVID pandemic, responding to the crisis and the urgent needs that came out of it. Continuing to drive philanthropic impact forward Over the years, Vanguard Charitable has strived to support donors' near- and long-term giving. This often includes the creation of resources and strategies that increase the reach and impact of every dollar granted. Recently, Vanguard Charitable has spearheaded: Assistance in discovering charities: A myriad of resources help Vanguard Charitable donors find and choose charities aligned with their giving goals. The recently launched Nonprofit Aid VisualizerTM (NAVi) connects donors with nonprofits responding to the COVID crisis or to hunger and homelessness. The latter two causes are a top priority of Vanguard Charitable donors, who have granted more than $300 million to nonprofits addressing hunger and homelessness since November 2021. Significant savings in the cost of giving: Low fees equate to more money for granting, which is why Vanguard Charitable has championed reducing the cost of giving across the sector over its 25 years. Due to efficiency gains and innovations in giving, the average cost to maintain a Vanguard Charitable DAF has decreased by nearly 40% in the last 15 years, allowing donors to give effectively while maximizing total dollars for charity. Quicker payment to nonprofits: Vanguard Charitable has continually worked to address challenges faced by its nonprofit partners. A recent sector-wide innovation, Grant Payments, will enable charities to receive grants more quickly, not just from Vanguard Charitable, but from partners across the nonprofit sector. The initiative will launch in 2023. About Vanguard Charitable: Vanguard Charitable is a leading U.S. nonprofit organization that fulfills its mission to increase philanthropic giving by administering a donor-advised fund—a tax-effective way to consolidate, accrue, and grant assets to charity. Since it was founded by Vanguard[1] in 1997 as an independent 501(c)(3) organization, Vanguard Charitable has granted more than $15 billion to charity.

Read More

NONPROFIT TECHNOLOGY, PHILANTHROPY

Henry Repeating Arms Presents $25k to National Fallen Firefighters Foundation

National Fallen Firefighters Foundation (NFFF) | February 03, 2023

One of America's leading firearms manufacturers, Henry Repeating Arms, with the hallowed and historic Memorial Chapel as the backdrop, presented a donation of $25,000 to the National Fallen Firefighters Foundation (NFFF). Congress created the nonprofit in 1992, and private donations help it provide programs and support for the families and coworkers of those who die each year in the line of duty. The annual National Fallen Firefighters Memorial Weekend is included as a part of the support, which honors the firefighters who died in service the previous year and brings together the immediate family members for the additional programs. In addition, the Foundation recognizes education and job training scholarships to life partners/spouses and children of fallen firefighters alongside helping departments cope with the loss of a valued team member. The Henry Repeating Arms has been donating $275,000 to organizations benefiting first responders and their family members from the company's charitable branch, Guns of Great Causes, since June 2022. In addition, the gunmaker has incorporated the ornate hand-painted, engraved, and 24K gold-plated Firefighter Tribute Edition rifle as its permanent product catalog, built 'in recognition of America's bravest' from the past ten years. About National Fallen Firefighters Foundation (NFFF) Chartered by Congress in 1992, the National Fallen Firefighters Foundation is a nonprofit organization, has developed and expanded programs to honor fallen fire heroes and help their families and coworkers. In addition to its efforts to reduce deaths and injuries sustained in the line of duty, the NFFF collaborates extensively with other fire services and life safety groups. The Foundation is a Maryland nonprofit with headquarters in Emmitsburg and status as a 501(c)3. The Foundation includes all expenses related to attending the memorial service for the family members of the fallen firefighters; further, it lets Foundation take part in both the private and public memorial services, as well as the Family Day sessions led by professional grief counselors. About Henry Repeating Arms Founded in 1996, Henry Repeating Arms is one of the US's leading lever action and long gun manufacturers. It manufactures a line of classic firearms that are affordable. The company is well-known for its Guns for Great Causes charity program, which aids families with sick children, children's hospitals, veteran organizations, Second Amendment advocacy groups, wildlife conservation organizations, and law enforcement and first responder groups.

Read More

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