Raiding Nonprofits for Their Reserves? A New Jersey Showdown

Nonprofit Quarterly | June 30, 2017

In New Jersey, the low-approval-polling Chris Christie has decided his high noon showdown will be with nonprofit health insurer Horizon Blue Cross and Blue Shield. As a matter of fact,he’s threatening to hold the budget hostage if state legislators don’t pass a bill to allow the state to raid the insurer’s coffers for its excessive reserves. We first covered this story in April, but now it has become an ultimatum that threatens a government shutdown today. Excessive reserves at nonprofit health insurers are a longstanding irritant to consumer groups and to states, especially when rates go up and the organization’s overdeveloped liquidity is combined with high executive compensation.

Spotlight

How can you make your Case for Support powerful, provocative and successful? Robin L. Cabral, MA, CFRE, will highlight best practices in preparing and using your case for support.

Spotlight

How can you make your Case for Support powerful, provocative and successful? Robin L. Cabral, MA, CFRE, will highlight best practices in preparing and using your case for support.

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NONPROFIT TECHNOLOGY

CD&R Foundation Makes Inaugural Grants to Non-Profit Organizations

Clayton, Dubilier & Rice | June 15, 2022

Clayton Dubilier & Rice announced that the CD&R Foundation, which launched last year to meaningfully expand the Firm's philanthropic, service, and educational efforts, has made inaugural grants totaling approximately $3 million to nine non-profit organizations in New York City. These diverse organizations, identified as CD&R's Talent Solution Partners (TSP), align with the Foundation's goal of supporting "Equity through Opportunity" by offering underserved and underestimated talent in CD&R's local communities access to job training, high-quality jobs, and ongoing professional development opportunities throughout their career journey. Each organization focuses on the Foundation's key levers for change, which include: Equity: Promoting equitable access to employment and advancement that is inclusive of all facets of diversity—with a focus on historically excluded talent Growth: Supporting economic growth efforts in CD&R's two local communities – New York City and London Skills: Strengthening and amplifying best-in-class job skills training and upskilling practices for underserved and underestimated talent across industries Systems: Building capacity and filling gaps in the local workforce development ecosystem to increase opportunity pathways and eliminate barriers faced by marginalized communities CD&R will work alongside the TSPs to strengthen these efforts throughout New York City. CD&R recognizes that the pool of talent in our communities is overflowing, but their access to opportunity is shallow. These nine non-profit organizations were selected based on a myriad of factors, including their vision/mission, leadership, and commitment to an equitable future. These represent some of the traits and goals that we believe are critical to creating greater economic opportunity and employment for people of all backgrounds. Moving forward, we look forward to continuing to identify other potential partners that share our mission and values." Randy Moore, President of the CD&R Foundation "Over the past 44 years, CD&R has built a reputation for driving positive impact and innovation throughout our portfolio and in our local communities," said Don Gogel, Chairman of both CD&R and the CD&R Foundation. "The CD&R Foundation meaningfully expands these efforts, and we look forward to working with our TSPs to move the needle on inclusive employment and advancement practices." Braven: Its mission is to empower promising, underrepresented young people with the skills, confidence, experiences, and networks necessary to transition from college to strong first jobs. The City University of New York: The largest public urban university in the country, serving 260,000 degree seeking students and 185,000 continuing education students. The CUNY Office of Careers and Industry Partnerships sits at the intersection of industry and higher education, building partnerships between employers and the university to align CUNY's academic preparation with in-demand jobs in growth industries. Genesys Works: This organization provides pathways to career success for high school students in underserved communities through skills training, meaningful work experiences, and impactful relationships. Grace Institute: The institute empowers low-income women in the New York area to achieve employment and economic self-sufficiency by providing job-skills training, counseling, placement services and continuous learning opportunities. Henry Street Settlement: The organization's mission is to create opportunity for Lower East Side residents and other New Yorkers with over 50 programs located in 18 program sites across four core divisions, including employment and education. The Marcy Lab School: This institution provides free technical training, leadership development, and direct access to high-growth technology careers for young adults from underestimated backgrounds.  Per Scholas: Its mission is to advance economic equity through rigorous training for tech careers and to connect skilled underrepresented talent to leading businesses. STRIVE: A nonprofit agency headquartered in East Harlem that provides a pathway to life-changing careers and opportunities through comprehensive professional training, intensive personal support and self-empowerment for those who face societal barriers to advancement. Upwardly Global: Its mission is to eliminate employment barriers for immigrant and refugee professionals and advance the inclusion of their skills into the U.S. economy through innovative skill-building and networking programs. About Clayton, Dubilier & Rice Clayton, Dubilier & Rice is a private investment firm with a strategy predicated on building stronger, more profitable businesses primarily in five industry sectors, including Industrials, Healthcare, Consumer, Technology and Financial Services. The CD&R Foundation was established with the goal of enabling "Equity through Opportunity" by strengthening the workforce development ecosystem at the local community, portfolio network, and employer level.

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FINANCIAL MANAGEMENT

Credit Suisse Expands Funding to Nonprofit Organizations Leading Efforts to Improve Pathways to Career & Upward Mobility

Credit Suisse | July 01, 2022

Credit Suisse is pleased to announce that the Credit Suisse Americas Foundation has awarded $400,000 to two new nonprofit partners – Generation USA and Year Up. These groundbreaking programs serve the community by investing in motivated yet under-resourced young people and developing a robust and diverse talent pipeline. The organizations provide educational pathways outside of traditional four-year degrees, enhancing their students' abilities to launch promising careers. While we have long-supported and remain committed to four-year college completion, we have become increasingly motivated to find opportunities to support the nearly 2/3 of Americans who do not choose or may not have access to this pathway. We completed the expansion of our Future Skills portfolio to include innovative organizations or initiatives that strive to bridge the gap between the education and employment sectors by providing additional pathways for young people to navigate toward promising careers, like apprenticeships, certifications, and two-year degrees." Eric Eckholdt, Executive Director of the Credit Suisse Americas Foundation These grants are part of the Credit Suisse Americas Foundation's work in Future Skills, a giving program that supports educational efforts to provide young people from underserved communities with skills necessary for a strong career start in order to live choice-filled, upwardly-mobile lives. The Credit Suisse America's Foundation continues to support high-performing schools like KIPP Public Charter Schools, modern youth apprenticeships through CareerWise New York, and innovative programs such as Braven, the WakeWorks Apprenticeship program, and myFutureNC. Moreover, the Foundation is pleased to onboard these organizations that aim to further the vision of providing additional pathways to securing a family-sustaining career. "These two new groups represent a transition from a "college-for-all" to a "success-for-all" mentality," says Eckholdt. "We are excited for the opportunity to support and learn from industry leaders and changemakers who embody the spirit of this effort, which we believe is vital for both young people in America and an evolving workforce." Generation USA is a nimble organization founded by McKinsey & Company. At scale, it has the potential to provide high-level, industry credentialed training to thousands of young people. According to Generation USA, more than 75 million young adults were out of work globally even before the global pandemic, and three times as many were underemployed. Concurrently, certain jobs remain in high-demand, and 40 percent of employers say a skills shortage leaves them with entry-level vacancies. In an effort to bridge this gap, the Generation USA program aims to transform education to employment systems to prepare, place, and support people into life-changing careers that would otherwise be inaccessible. "We are proud to be a recipient of Credit Suisse's philanthropic initiatives in opening entry to a meaningful career through non-traditional pathways," says Richard Clemmons, Generation USA Interim CEO. "Through this generous funding, we'll be able to expand our reach and impact in the New York City community by providing training, support, and access to career opportunities in the high-demand tech industry." Credit Suisse is also excited to partner with Year Up, a best-in-class workforce development organization, which is committed to ensuring equitable access to economic opportunity, education, and justice for all young adults—no matter their background, income, or zip code. Year Up's intensive training program utilizes a high expectations, high support model where students learn in-demand technical and professional skills and apply them during a work-based experience with one of their 250+ corporate partners. "Credit Suisse and Credit Suisse Americas Foundation's generous support will enable motivated young adults to receive the training, support and connections to have rewarding careers at top companies," said Gerald Chertavian, Year Up Founder and CEO. "Through this partnership, we will make important progress in closing the Opportunity Divide and building a more inclusive society and a stronger economy." Credit Suisse Credit Suisse is one of the world's leading financial services providers. Our strategy builds on Credit Suisse's core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 50,110 people. The registered shares (CSGN) of Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York.

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FUNDRAISING

iWave kicks off new integration with ascend by UC Innovation built on Salesforce

iWave | June 22, 2022

iWave, the industry's top-rated fundraising intelligence platform is thrilled to announce its newest integration with ascend by UC Innovation. ascend is an all encompassing Advancement solution for higher education institutions developed by UC Innovation. This connection enables educational institutions to experience a custom-tailored instance of Salesforce and powered by iWave. Equipped with this integration, fundraising professionals can engage more effectively with donors and focus on top gift prospects, seamlessly infuse donor intelligence directly into their database, and benefit from a simplified workflow. iWave's fundraising intelligence platform comprises the most in-depth wealth and philanthropic database and insights that enables nonprofit, education, and healthcare organizations to uncover donors with the greatest capacity, giving affinity, and inclination to donate. ascend is a leading higher education advancement solution, which is native to Salesforce and EDA compatible. ascend provides a comprehensive, 360 degree view of Advancement activities including Bio Demographics, Prospect Management, Gift Processing, AI, Constituent Engagement with an Online Donor Portal. We're thrilled to partner with ascend and expand the ecosystem connections we have with Salesforce. iWave's proprietary donor insights, including gift capacity and affinity scores, provide robust donor intelligence with wealth data right inside ascend. We both share a commitment to advancing the achievements of higher education institutions and our combination of intelligence and technology will enable clients to accelerate their fundraising efforts." Pranav Lulla, Head of Strategic Partnerships, iWave Higher education institutions now have the opportunity to enrich their internal ascend data with iWave's billions of wealth and philanthropic data points, so they can strategically prioritize the best donors to fuel their fundraising strategies. This means users have access to iWave's powerful fundraising intelligence without leaving ascend, including important data points such as: iWave Scores: which include Capacity, Affinity, and Propensity RFM Score: Recency, Frequency, and Monetary Insights Planned Giving Capacities Value of Properties Value of Charitable Donations Multi-Lens Scoring "ascend, built natively on Salesforce, is delighted to integrate with iWave and further the advancement and fundraising experience for our shared higher-education customers," said Caroline Chang, VP, Community & Product Engagement at ascend by UC Innovation. "This integration will enable our clients to use ascend's powerful and easy to use platform to build stronger relationships with their constituents, simplify and consolidate disparate systems, and use iWave's best-in-class scores and top-rated fundraising intelligence with ascend's easy-to-use and powerful advancement platform." About iWave iWave, the industry's top-rated fundraising intelligence solution, enables nonprofit organizations to fundraise with confidence. In a new era of nonprofit fundraising, iWave solves critical challenges facing fundraising professionals today: how to identify, qualify, and retain donors to raise more major gifts. iWave's intuitive and easy-to-use solutions give access to the industry's highest quality wealth and philanthropic information so you can determine who to ask, how much to ask for, and when to ask. Many of the largest education, healthcare, and nonprofit organizations in the World, rely on iWave to power their fundraising efforts. About ascend by UC Innovation Founded in 2011, UC Innovation has developed ascend, a comprehensive, end to end solution for fundraising and constituent engagement, built natively on the Salesforce Platform. As an award winning Salesforce Partner with a singular focus on transforming advancement and fundraising practices through technology, UC Innovation continues to push the boundaries of what is possible in the areas of next generation constituent experiences, actionable insights, automation, and ease of use.

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