Big Nonprofit Ideas for the Other 95%
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Richard Slutzky, co-author of Thriving in the Comet’s Tail, explains his ideas for fundraising as the U.S. emerges from recession. His insights apply to your long-term and immediate fundraising work. (If you’d like to buy the book contact WordsMaplewood. Call of email the store to buy the book.)
The “comet” in his title is our recession.
Putting aside economists’ definitions, do you believe we’re in the tail end of the U.S. recession?
- a) Yes, the end is in sight, within 3-9 months
- b) No, we’ve got at least another year
- c) I really don’t know when the end will come
They’re coming to talk about the group’s May conference, the New York Philanthropic Planning Symposium. This is the PPGGNY’s premier annual event.
The event will:
- spotlight the nuts and bolts for new philanthropic planners
- illuminate the techniques and tools used by experienced planners
- focus a laser-sharp spotlight on those practical topics specifically requested by our members — subjects that have direct practical application to their work
Top Trends. Sound Advice. Lively Conversation.
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Here is a link to the podcast: 039: Planned Giving Fundraising & A Gift Planning Conference.
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Oppcoll durney welcome to tony martignetti non-profit radio big non-profit ideas for the other ninety five percent of your aptly named host tony martignetti you may recall, i hope you do. Last week, i had a conversation with hildy gottlieb hildy is the author of the polyana principles, and she had transformative ideas for community benefit organizations to create really monumental change in themselves, their communities and the world. This week planned e-giving fund-raising and a gift planning conference richard slutzky is co author of thriving in the comet’s tail and he’s going to explain his ideas for fund-raising as the us emerges from recession, his insights apply to your long term and immediate fund-raising work, then joining me in the studio, john bacon and alexandra brovey they are officers of the philanthropic planning group of greater new york. They’re coming to talk aboutthe groups may conference the philanthropic planning symposium between the guests on tony’s take two, the blue pedicure challenge what you’ll find out on tony’s take, too, and also the irs dirty three hundred twenty thousand list is coming. The irs is going to release a list of about three hundred twenty thousand charities that have lost tax exempt. Status. That’s one fourth of all the charities in the us, and i’ll talk about both those things. At roughly thirty two minutes into the hour on tony’s, take two. Of course, we take a break right now, and when we return, i will be joined by richard slutzky, and we’ll be talking about the book he co authored, thriving in the comet’s tail. Stay with me. Duitz you’re listening to the talking alternative network. Are you suffering from aches and pains? Has traditional medicine let you down? Are you tired of taking toxic medications, then come to the double diamond wellness center and learn how our natural methods can help you to hell? Call us now at to one to seven to one eight, one eight three that’s to one to seven to one eight one eight three or find us on the web at www dot double diamond wellness dot com way. Look forward to serving you. Is your marriage in trouble? Are you considering divorce? Hello, i’m lawrence bloom, a family law attorney in new york and new jersey. No one is happier than the day their divorce is final. My firm can help you. We take the nasty out of the divorce process and make people happy. Police call a set to one, two, nine six four three five zero two for a free consultation. That’s lawrence h bloom two, one two, nine, six, four, three five zero two. We make people happy. Hey, all you crazy listeners looking to boost your business? Why not advertise on talking alternative with very reasonable rates? Interested simply email at info at talking alternative dot com durney welcome back to tony martignetti non-profit radio where were always about big non-profit ideas for the other ninety five percent. I’m going to be joined right now by richard slutzky he’s, a co author with roger matt ll often richard ehrlich of thriving in the comet’s tail non-profit investment and development during the recovery from the great depression. Published by multi tier media in new york city. Richard is director and senior institutional sales representative at bank of america merrill lynch he’s an attorney, he has a serious seven licensing. He spent several years as a member of senior management for the jewish community foundation of metro west and united uda jewish federation of metro west, both in new jersey. That means he has been in the trenches on the charity side, and i’m very pleased to welcome him to the show. Richard welcome. Thanks, tony it’s. Great being here. It’s. A pleasure to have you. Thank you. Are we emerging from recession? You’re thriving in the comet’s tail. The tail of the recession. Is that where we are? I think so, tony. And i’ll tell you why you know the the depth of the recession. The bottom of the recession happened in march of two thousand nine, and so theoretically right now where we are, we’re always where the economists tell us where we are is in an expansionary mode, but when i’m concerned about when i checked with non-profits is a lot of non-profits buy-in froze during the recession, they either did one of two things. They pulled money out of the equity markets because they were very concerned about if the bottom was actually reached in march, they were concerned in march of two thousand nine, they were concerned that it could go down farther, so they pulled money out so some of them never put money back in the equity markets and lost in the, you know, more than seventy percent increase in stocks after that that we’ve seen since march of two thousand nine or non-profits have never really did anything other than stick to their guns and keep to their asset allocation. Um, i think in both cases, it’s time for non-profits to review their situation and what we’re seeing, at least in our financial practice, is that non-profits are spending the time, you know, in the last year reviewing their investment practices to make sure that they are able to sort of escape from the depth of the recession and to make sure that they have their financial house in order for the next, you know, for the foreseeable future and let’s, talk about the intersection between that investment management and fund-raising for for non-profits your book really advocates breaking down the walls between those two what’s the problem there? Yeah, i think it’s, uh, it’s a multi fault, tony. Uh, and i’ll share some thoughts from both sides of the other aisle. The investment side and the plane giving sex. Uh, first on the investment side. Let’s. Take a typical investment committee who’s on the investment committee. All right, people from maybe from the investment field. Maybe there are, uh, financial advisors or people that actually spend time managing money and maybe there’s people that are savvy, uh, affluent donors to the organization. And maybe, just maybe, there are people that are on the programmatic side of the organization that sit on the investment committee either. As a committee member, like has an ex officio piela staffers. Ah. Ah. Lot of times those people in their normal day today, investment practice, uh i don’t really see or know much about a charitable remainder trust or charitable gift annuities. They can manage buckets or pools of money because that’s what they do, you know, when they’re dated a professional practice, but they are oftentimes not very familiar with nuances of managing a charitable trust to return up or a charitable gift annuity. They don’t understand the spending rates they don’t. They don’t understand the liability that the organization has to make those payments so that’s a big concern of of ours the way me and my co authors that a lot of investment committee’s, maybe very savvy folks that just may not understand the depth of issues dealing with investing for playing gifts. Now let’s, talk about the other side of the richard richard before you do that, i want to know i want to keep you out of jargon jail. Wei have jargon jail here on tony martignetti non-profit radio. So you mentioned charitable gift annuities and the charitable remainder trust i’m just going to do it briefly, just so that people know that those are vehicles that pay income back to the donor for their lifetime, and there are there are subtle differences between the two but that’s really the important thing to know, i think for our conversation is that the person who’s in charge of investing has two goals, and one is investing for income because there’s income back to the donor and the other is investing for long term remainder because the remainder goes to the charity. So i just wanted i want to keep you out of george in jail, and i want to do it just quickly. Richard, excuse me. I’m glad you did. I hope to stay in jail for the rest of the interview. I’ll warn you, if you if you come close god, please look at the other side. So, yeah, let’s talk about the development committee and development professionals who are focussed on getting in front of major donors and engaging them in a gift cultivation effort to ultimately too snusz solicitation of again and oftentimes when you’re dealing with a major donors and your want to pursue a some kind of plan, gift or endowment opportunity, you’re going to be talking about fairly significant dollars. And one of the concerns that that high in my other office co authors have is that what happens when the development professional is in charge is in front of someone who another going to ask for a major gift? It could be fifty thousand. It could be a hundred thousand. It could be, you know, president gift or it could be a future. And what happens if the donor then says, you know, mr martignetti, thank you very much. Uh, you know, i’ll be consider that gift. But let me ask you, mr martignetti, what would you do, what your organization do if i did give you fifty thousand dollars or one hundred thousand dollars, how are you going to manage that money? And oftentimes the development professional may not have the information at hand about how that money is managed. They may not know who’s managing the money. They may not know exactly how much is in the endowment for the organization. And i think just like any investor tow, any financial services firm or mutual fund wants to know, you know, how is this going to work and how big my in relation to everything else? I think that development person needs to be apprised as to a little bit more about how. The investments run and their organizations so they could be. They could communicate that to the donor and give them a sense of security that their money will be prudently managed. Once once housed at the non-profit richard, we’re going to take a break, and when we return, we’ll talk about thie integrated financial resource consultant than how that position sort of bridges. The gap that you see and describe in your book. This is tony martignetti non-profit radio. I’m with richard slutzky, co author of thriving in the comet’s tail. Stay with us, e-giving attempting to ding getting dink, dink, dink dink, you’re listening to the talking alternative network geever getting anything duitz. Things good? Are you stuck in your business or career, trying to take your business to the next level, and it keeps hitting a wall? This is sam liebowitz, the conscious consultant. I will help you get to the root cause of your abundance issues and help move you forward in your life. Call me now and let’s. Create the future you dream of. Two, one, two, seven, two, one, eight, one, eight, three, that’s to one to seven to one, eight one eight three. The conscious consultant helping conscious people. Be better business people. Are you feeling overwhelmed in the current chaos of our changing times? A deeper understanding of authentic astrology can uncover solutions in every area of life. After all, metaphysics is just quantum physics. Politically expressed buy-in, montgomery, taylor and i offer lectures, seminars and private consultations. For more information, contact me at monte m o nt y at r l j media. Dot com looking to meet mr and mrs wright, but still haven’t found the one. Want to make your car relationship as fulfilling as possible? Then please join us, starting monday, may second at ten am for love in the morning morning, alison. As a professional matchmaker, i’ve seen it all. Please tune in and call as we discuss dating relationship and more. Start your week off with love in the morning with marty allison on talking alternative dot com. Talking alternative radio twenty four hours a day. Durney oppcoll welcome back. My guest is richard slutzky, co author of thriving in the comet’s tail richard let’s talk about the integrated financial resource consultant that you advocate for in the book. What is that position? The idea behind a knick integrated financial resource consultant is someone who has the understanding of working with an investment committee of a non-profit to help guide them in developing a long term asset management strategies, but at the same time have the sensitivity to the fund-raising needs of the organization and also understand how to manage those unusual assets that we talked about earlier, the charitable trust, the charitable gift annuity and, you know, to be told, i’m not sure how many financial advisers have that, and we really taught we wrote in our book about the integrated financial resource consultant as sort of an idyllic kind of person and wait that mold, but, you know, i think what i would do if i were a non-profit, uh, executive or a volunteer, and we were searching for a team to manage our money is to find an individual or a team that that understand that has a greater sensitivity to both sides that we’ve discussed ah, and, you know, it’s interesting tony there isaiah accreditation that is available through, uh, i probably called the american college in britain, marr, pennsylvania, and they call that the chartered advisor and philanthropy it’s not is well known in the non-profit space as it is in the financial services space and it’s a kind of accreditation that financial advisors can obtain through this american college it’s actually quite rigorous it’s it’s about three modules and a lot of study, and when i hear of individuals that have taken that course and i’ve taken that course, i recognise that they do have that kind of sensitivity that we’re trying teo articulate in the book because i just think it makes for a better service delivery mechanism for the, you know, for the organization has now that you know now that working with an advisor that’s not looking at the bucket as just another endowment pocket or a bucket of acid similar to a you know, retirement plan it’s a fund of money that they’re much more tuned to the use ofthe and what the complexities are of managing a non-profit endowment or other types of non-profit funds, but what does the integrated financial resource consultant mean for current plan giving directors or officers? Yeah, i think. Go ahead. No that’s it. Yeah. Okay. What does that mean? People are in those positions now. Yeah, but i think that means is they would speak the integrated financial resource consultant would speak the language of a plane giving person. They would understand what charitable gift annuities are, for instance, and they would understand the fact that there are some i’ll call up cash liquidity issues that need to take place if i have to make a cash distribution for charitable gift into it. And that’s due on may first, i better have cash available for it. And i better talk to my manager is to make sure that there’s like liquid funds so that the organization can distribute checks or do direct deposits that that’s a level of nuance that not all financial advisors have because they may not understand what charitable gift annuities actually are. Ok? And when you refer to that need for cash, you’re referring to the income that i explained earlier before the break that has to be paid to a new it ints for charitable gift annuities. That that is correct. Tony and my concern, uh, is that a lot of financial advisors look at a lets a pool of non-profit management funds as very long term where you can, you know, have ah, large equity exposure and the money is it going to go on at in tonight? Um, and maybe the charity pulls out, you know, three, four, five percent, but there’s not a lot of other, you know, workings of that of that bucket. And when we’re talking about gift annuities because the money’s coming out, you know, maybe quarterly, maybe monthly and the size depends on again the annuity rates that are sad. And you know what kind of into it. And they have there’s a lot more complexity to the situation that a financial adviser should be apprised of. Richard what does the integrated financial resource consultant contribute? Teo outright giving just immediate gifts. Putting aside the planned gift? Yeah. That’s. A great question. And i think it depends. Uh, you know, a lot of its just a normal stock transaction of cash transaction. That is underlying the direct gift most financial advisors can do that the nuances are who has someone wants to give something? Well, the more unique, for instance, closely held stock. In other words, stock that is not seen on, you know, an exchange, but maybe a stock in a family business, that is, you know, an unusual asset. What does has a financial adviser deal with that or gift of, you know, real estate or a gift of tangible property jewelry? Uh, um, you know, gold, etcetera. So the question is, how does that financial advisor, uh, going tio? They understand, sir. The red flags that have to be dealt with before those kinds of assets can be turned into cash. With richard slutzky, he’s, co author with roger, matt loft and richard ehrlich of thriving in the comet’s tail, published by multi tier media in new york city. Richard, what does the this position again, the integrated financial resource consultant have to contribute in terms of approaching the the entrepreneurial generation? You talk about that in the book? Yeah, i think that that generation has a much different psychological make makeup essay. Let’s say little about that. Yeah. Why are they giving what motivates them? Kapin? Yeah, obviously. It’s case by case. But if we if you want to speak in generalities, i would say that the world war two generation, you know, they came back to, you know, after, you know, being embattled and really looked at, you know, the community as a cz as a whole, they really weren’t so concerned about what is this particular non-profit mean to me if you were not a psychology major, but i’ve been told that one of the ways to look at this generational differences that the older generation worked on guilt in other words, you see a poor child, and then you would give money because you want to help that child, the younger generation is more union where it’s like, how does this charity make me me feel? How does this make me feel about myself? Well, i feel better if i give to this charity, and i think the other, you know, issue about the younger generation meaning, you know, those between let’s say twenties and fifties, i think though that generation is looks at charities like a business on, so i think they’re much more focused on the bottom line of that organization and not looking again on guilt issues are you know well that you know that does that organizations to solve the problem, but more on, you know, let me look at the blood, the balance sheet of this organisation to make sure that it’s operating efficiently and effectively, okay. And and how does the consultant approach that that that generation, the entrepreneurial generation? Well, i think the idea here is that the integrated financial resource consultants would spend time with the charity and the development staff to make sure that the delivery bols, that the non-profit articulating to the donors are are are sort of well refined to make sure that the messaging is is really targeted to that sort of younger group that’s going to be looking at the balance sheet, for instance, those are the kind of people that are gonna be looking at some of your audience will know about charity navigator dot org’s, which actually rates, um, charities in terms of efficiency, just like finished, just like, morning star rates, mutual funds, that’s the kind of group that may be, you know, attentive to that kind of web sites. So they have to show that they’re the charities have to show that the running efficiently, you know, lien lee? They’re not putting a lot of money into administrative on development staff positions, but they’re focusing all their attention. Most of the attention on the charitable mission. Yeah. And you make a pretty strong point about approaching that the entrepreneurial generation appropriately because they are our future. The future donors. Well, there’s today’s donors as well as tomorrow’s plan giving donors. Yeah, and that gets back to the transfer of wealth issue. Tony, you know, obviously there’s been a huge number of studies done about how the older generation as they pass, is leaving money to charity. But the money that they’re not leaving to charity is going to their children. And those children can are going to control and by themselves, you know, billions of dollars and that’s that’s who the charity’s air going to have to convince to give and and i and honestly, i think it’s, in a way, much harder for charities to, um, to solicit the younger people because it’s more of a case by case, individual messaging than, you know, abroad, direct marketing piece are, you know, advertising that would appeal. That would be a very good appeal to the older, older audience so it’s going to take a lot more work for the charity’s? Teo overcome the objections, if you will, of the younger generation on dh since you’re talking a little about the wealthy, what ah, what’s, affluenza you you spend a little time in the book talking about affluenza? Won’t you share that? Yeah, and i see that here you know, it’s, our financial services firm, where we have very high net worth individuals who are very concerned that there and these air off most of the time self-funding div ihe jewel’s, they’re very concerned that as they leave a legacy to their children, the children you are the next generation of grandchildren are going to squander it, um, and it’s a huge concern in and in a way that plays well to the charities because so many people and i used to think it was just sort of the worm buffets of the world. Who said at one point, i want to leave my children enough so that they do something, but not so much that they do nothing. And that philosophy, i think, has trickled down into the super wealthy, the modestly wealthy or just the affluent and so even if you know, we’ll see what happens with the state taxes, but my point is that, um, people only want to leave now, i think specific amount of money for their children, not just an unlimited amount because they’re not sure what’s going to happen with their children and grandchildren. And, you know, where also are there going to be able to spend that money or give it away? They’re going to give away to charity, so i think that could bode well for the future. So affluence is the dreaded disease of, you know, of the ultra rich that where they’re concerned about how that money, you know, ends up being used by by their children. But again, i think it could bode well for for charity. Yeah, and so so what does it mean for fundraisers approaching people who have that the concerns you’re talking about? Well, if i were back and fund-raising what do you know? This sounds, i guess self evident, i would be focusing on the ultra affluent because those are the people that are probably most concerned about it. For instance, if i if i’m working with someone that has ten million dollars, ten million dollars or more. The likelihood is that they’re not going to get if they have two children, they’re probably not going to give both children five million dollars. Maybe they’ll give them million are too, but some of the money is going to gonna have to go to charity. But if i’m dealing with someone with three million dollars and they have two children, some of the money going to go to charity, the rest of a probability, some of it may but maybe not to the same extent a zit would be for high net worth individual. So that’s why? I think dealing it’s very hard to find some of these days, and i may be wrong about this, but in my experience to find someone that’s alter, affluent who who lose everything to the children for the affluent discussion we just had and of course, in plan e-giving fund-raising we never want to ignore those who are not high net worth but may just be very modest. Donorsearch ten shal absolutely you obvious one want to hit everybody because you never know when we’ve all heard stories about the, you know? The school teacher in mississippi that left everything to charity. But i think from again from a probability standpoint, that’s where i’d be focused in my time and, you know, it’s hard to you can really focus on affluent that’s something that you have to sort of keep in the back of your mind. And i think when you tried to cultivate an individual, i think you’d want to find out what kind of relationship they have with our children and what kind of legacy they want to leave to the children and to the charity. I think those air fare, very game question and then in having that conversation also find out what they’re relationship is to their to their wealth and what their children’s relationship is to the family money and and what concerns they may have about how that wealth gets translated to the family. I think the more that a lot of people don’t think about this, they don’t think about what’s gonna happen once they pass away, but i think there’s, that there is a path that a playing giving person could could walk down to engage a donor in that kind of discussion without being, you know, without going in at a bad direction, yeah, richard’s, let’s, go. We have to leave it there. Thank you very much. Thank you, tony. I enjoyed it has been a pleasure. Richard slutzky, co author of thriving in the comet’s tail when we return it’s tony’s, take two, and then i’ll be joined by john bacon and alexandra brovey, and we’ll be talking about the philanthropic planning symposium in new york city, so please stay with me. You’re listening to the talking alternative network. No. Schnoll are you feeling overwhelmed in the current chaos of our changing times? A deeper understanding of authentic astrology can uncover solutions in every area of life. After all, metaphysics is just quantum physics, politically expressed hi and montgomery taylor and i offer lectures, seminars and private consultations. For more information, contact me at monte m o nt y at r l j media. Dot com buy-in are you stuck in your business or career trying to take your business to the next level, and it keeps hitting a wall? This is sam liebowitz, the conscious consultant. I will help you get to the root cause of your abundance issues and help move you forward in your life. Call me now and let’s. Create the future. You dream of two one two seven to one eight, one eight, three that’s to one to seven to one, eight one eight three. The conscious consultant helping conscious people. Be better business people. Hey, all you crazy listeners looking to boost your business? Why not advertise on talking alternative with very reasonable rates? Interested simply email at info at talking alternative dot com welcome back to tony martignetti non-profit radio big non-profit ideas for the other ninety five percent it’s time for tony’s take two the blue pedicure challenge it was a success a bunch of high school friends on facebook enlisted me in a challenge if they got my show’s facebook page two, three hundred likes by today, which is friday, april twenty ninth at midnight, then i would go to a spa and get a blue pedicure on videotape it on dh. I’ll obviously post the video somewhere that everybody can see it, and they were successful around ah ten thirty this morning. So with more than twelve hours to spare ah, seven year old son of ah high school friend like the show and became like number three hundred so i will be getting a blue pedicure in accordance with pursuing to the blue pedicure challenge me more about that when when the event actually it takes place. Ah, little more serious. The irs dirty three hundred twenty thousand list is coming. The irs is going to be releasing a list of about three hundred twenty thousand charities that have lost tax exempt status because they failed to file the required return for three consecutive years is, and that number is about a quarter roughly a quarter of all the charities in the u s so it’s pretty startling, they’ll certainly be many in every state. The list will be broken down a few different ways, but one of them will be by state and you’ll be able to see which charities this applies to. Certainly a lot of them are charities that are just not functioning, but we fear that a lot of them are functioning and just haven’t been filing there’s more about the irs dirty three hundred twenty thousand list on my block at m p g a d v dot com, and that is tony’s take two for friday, april twenty ninth. In the studio with me now are john bacon and alexandra brovey they’re here to talk about the new york philanthropic planning symposium. John bacon is president of the philanthropic planning group of greater new york and he’s, also director of plant e-giving at the new york public library, alexandra brovey is vice president of philanthropic philanthropic planning group of greater new york and chair of the organization’s philanthropic planning symposium that’s volunteer work. That she does for that group. She is the senior director of gift planning for north shore long island jewish health system foundation. And i’m glad that this symposium brings john and alexandra to the show. Welcome to the studio. Thank you. Good to have you alexander it’s. Okay, if i call you alex, right? Absolutely. As the chair of the symposium, why don’t you start telling us what’s the what’s, the purpose of the conference? Sure. Well, our conference this year will be on may twenty six, which is a thursday at the new york marriott marquis. Three new york philanthropic planning symposium is our annual one day conference. The purpose is educational. To bring everyone together, we expect between two hundred, two hundred fifty people. We have speakers coming from various parts of the country and three different tracks. And it’s, just going to be a great day. All right, john what’s, the philanthropic planning group of greater new york. All about as president. Yeah. It’s ah, educational group. So the symposium is very much part of our educational purpose. Also importantly, all of our events are great networking events for people in the field and alive professionals. And in fact, i think a lot of people see the value as that community and the networking people find jobs. May connections and it’s really been a valuable resource for many of us, including myself. I found my current job a tte, the new york public library at a plan giving luncheon eight years ago and coming out of the for-profit world into the non-profit. And that kind of thing happens constantly. So it’s, a great professional organization, was strong networking opportunities. Who are the members? It’s traditionally been playing, giving officers working for charities, but a lot of allied professionals they mentioned richard slutzky, who was just speaking on the program earlier, is a member and in fact, a boardmember s o people in the finance world accountant’s. Quite a few independent consultants like yourself on different folks so it’s across the board. But anyone interested in what is now ah called gift planning as opposed to playing giving and our name has changed several times to reflect those changes in the overall field. Yeah, let’s, talk a little about that. It used to be the planned e-giving group of greater new york. So that was a pygmy. Pg and y right it’s still pickney, but now it’s ppg and why? Why? The change from the former pickney to the current pig knew that reflects a change at the national level. Our council was originally called the deferred giving group, which says a lot about many years back is that that’s in the early seventies, right after the sixty nine tax act, which in effect codified a lot of things that we now use as tools for people to give. But then we were the council independent counsel plan giving group of greater new york the national committee on plan giving were one of the founding councils of that they changed their name to the partnership for philanthropic planning a few years back. And we in turn changed our name to kind of blend in better with the national change, but keeping our acronym, which people like yeah, the pickney right now so it was that national change reflecting a change in sort of it’s a broadening its not just planned giving out, phil, correct planning. So bringing in those advisers you meant very consciously bringing in advisors and even more importantly, bringing in our peers major gift. Officers and others working with individuals at the charity level and we find increasingly that traditional plan giving shops or departments or silos and some of us have called him charities are being broken down, and we wanted to be more inclusive and encourage people who have blended jobs or just have major gets people come because give planning should be part of their work as well. Ok? And that’s also very consistent with what richard was just talking about taking down the walls between asset management and and fund-raising right, i think alex is title is a good example of a different one. I’m on old school plan giving person, but there are fewer and fewer of us around with that in their title. Okay, alex’s title at north shore is direct senior director of gift planning, correct, and there are also people who have philanthropic planning in their title, which would be more closely akin to the name change. And then there are people who are individual gift planners who do a combination of or what we call a blended gifts. You’re not necessarily going after just the traditional playing gift you’re going after the gift that’s best. For the person in front of you and your organization and the conference. Alex, you’re the chair, it’s it’s organized for all the all the professionals that we’re talking about, there’s, something there for everyone there’s, something there for everyone, and this year we’ve actually restructured a little bit. We want to try teo help out. Our accounting members and friends and even non members were invited to come to the conference. We restructure a little bit this year. In the prior year, we had four different tracks going. This year, we decided we’d have three tracks, and we introduced a plenary speaker. I’d liketo take a moment to mention our fremery cerini she’s, beth shapiro, kaufman she’s, a member in kaplan and dried drysdale’s, washington d c office she’s coming to talk to us a little bit about what she did when she worked for the irs on the other side and what she does now and what she thinks might happen in twenty thirteen and she can speak freely now that she has a different employer. S o plenary. So is she the keynote speaker? She’ll be our keynoter plenary speaker, which will be first thing in the morning and then we’ll have three different tracks, three sessions per tracks. So the rest of the day they’ll be a mid morning session, a lunch in it, which will conduct some piggy business sametz actions and other items, and then two sessions in the afternoon, and then will cap off the day with a reception. It’s a wonderful day, okay, and again the day, may twenty sixth of this year. And where is it being helped at the new york marriott marquis? Okay, how do we let’s acquaint people with some of the other speakers besides your keynote speaker? What? What are some of the highlights of speakers? Sure, we’re goingto have to panels i’ll actually let John mentioned 1 of the panels because this is something that our members really matter, and they really make a difference, and they’re the ones that set the stage for what we do it pickney so our members had a wonderful meeting in april, a suggestion came out of that meeting and we actually revised a panel, and we’re moving from there all that john mentioned that for a moment, if i may, please john. Yeah, we have thes master forms as alex was just alluding to meant for senior members of our group to get together in a smaller setting and talk through things and metha, which i will garble here. But the new york prudent management of institutional funds act, which you may have discussed on your show, would have. But but not this show. So i want you out of jargon jail. So why don’t you give a quick explanation of what? The new york prudent management of institutional funds act is? John, your urine? Yes. You walked into the quagmire. Now i have to crawl, claw yourself out. Basically, our friends in albany saw fit to adapt the uniform management of institutional funds act putin. Sorry, management. Institutional funds act in their own distinct way. And many of us that the charity will side are dealing with trying to implement certain requirements of the new york version of this law. It does get give us a lot more liberty to spend and manage in doubt funds in particular and other institutional funds. But it has certain peculiar requirements, the most worrisome of which is a notice requirement to donors of older funds. And this is for those of you who work with charities or our donors. It’s not always. Welcome to receive a letter asking you to elect treatment on your fund. It’s led to a lot of confusion. Someone happiness, it’s just a unnecessary came out wrong, it’s. Just a aspect of the law that’s less than optimal. Okay. And i’ll remind listeners that we did have kathy boil on from cheeping hill advisors. Several shows a go for the full hour talking about the new york prudent management of institutional funds act, which is based on the uniform act that john’s talking about. Okay, little digression. But john got us in the quicksand, so we’re out. They’re jargon jail. And you were talking about the masters, the masters. Siri’s john? Yes. Those were for alex is here. Yes, we did. Yeah, before our regular luncheon programs, which are every well third wednesdays of the month. Eight times a year. And the masters for a just been a great place for people have high level discussions on topical issues, including nypmifa. Okay. Okay. And there’s something for the masters in the symposium. Alex. Exactly. So there are actually three tracks this year. One of the miss masters. Second one is nuts and bolts, and a third one is a new track called innovation. Okay, and we’re going to talk about those. When we return from this break, please stay with us. Talking alternative radio. Twenty four hours. 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We do whatever it takes to make our clients happy. Contact them today. Admission one one media dot com talking. Welcome back. Come with john bacon, president of the philanthropic planning group of greater new york, and alex brovey, vice president of the group and chair of the organization’s philanthropic planning symposium, which is what we’re talking about today. And alex, right before the break, you were acquainting us with the three tracks that you have. Please yes. So in in prior years, we had four tracks this year, we have three, so our nuts and bolts track is really meant to assist those new to gift planning or those who need a refresher of the basics, and we’ll have three different presentations. One will be a panel intriguingly entitled. We are all planned giving officers now, that’s actually meant for our major gift colleagues and others who want to come and just talk about the fact that everyone is expected to do a little bit in this area of plan giving her gift planning interesting. S o that’s really interesting. We’re seeing this integration and this breaking down of walls as my first just richard talked about as you heard some of that way alluded to this really is a trend that is significant, absolutely. And that has to go back to the name change at the national level and in our local level and what we’re actually doing and what we’re all actually seeing. So the reality of it is planned giving people raise outright gifts people who are expected to raise outright money’s might combine that with a plan gift it’s all what’s appropriate for the donor in front of you on dh with the challenge for the gift officer, whatever seat they might be sitting in is having to learn a little more. Is that john? Is that red john? Yes, and in particular, we have a lot of experience with older donors are group tends to skew older and their issues about getting old mental competency, health and other things that were sensitive to that. Frankly, some of our individual giving or major gift friends are not as sensitive to but again it’s falik said it’s really about being donor-centric on dh donors infect our our clients if we’re on the charity side and literal clients of our adviser colleagues. So it’s really just doing the right thing by the donor and sometimes that’s a blended gift and, you know you mentioned john your title. At the public library is still planned giving direct plan e-giving but are you seeing the integration there across fund-raising or or not so much or what? Not so much in our case, primarily because we have individual financial goals in the different silos in our shop, but i think that’s going to change it really has to change you think so? Yeah, ok. And i’m i’m asking you because the public library is, you know, a venerated old sort of old blind charity in in the country, right? And in a sense where a large shop as well so that those distinct groups can exist to some degree, there were four people in my group recently, so it’s a big plan giving group. Ah, and there are over forty, people in our overall development department. So it’s a big group. But i think even it’s in smaller charities, especially where there may only be one or two people dealing with individuals, they have to do all those things. And we again hope to be a resource for people who are interested in give planning. Okay, on dh that becomes the challenge especially then for the very small shop i mean let’s take a charity that maybe it’s just a founder and one other person that that that founder executive director has enormous challenges and but they’ll find something for themselves and for their organization at the symposium. Absolutely. And i think alex mentioned the nuts and bolts said that there’s nothing to track we’re talking one or two of the other sessions might just spur a thought or be applicable to a certain situation they’re facing. And again, i think, almost as important as the networking meeting other people in the same situation, talking to board members and others there who have a lot more experience and it’s really a great sharing experience old the whole day. And alex, how about the other the other tracks? Sure. So the other two tracks or the master’s track this past year is john mentioned earlier, we started a what we called a masters forum for the more experienced members of our group who wanted to have something that was a little more challenging or something at their level. Some of these people have been members for perhaps two decades that have been doing twenty or thirty years of work in plan. Giving or now gift planning, our master’s track is for those who are more experienced or for those who want to challenge themselves a little bit. We have the panel john described earlier and off the top of my head. We also have someone discussing charter bally trust, which is ah hyre level technique that donors who may be up against the five million dollar estate tax issue might be willing to consider. So we tried offer something for every level. So we talked about nuts and bolts. We talked about the masters. Our third, a new track this year is innovation and innovation focuses on the art and psychological aspects of gifts. And i think it’s that to which john might have been eluding recently. So there’s something for everyone there. This will be more the i don’t want to call it the soft part. But this might be why? Why? Someone would want to make a gift or how you broach a person in the correct way in order to get the best result in the end. That’s interesting that innovation. Why? Why you said that’s a new track? Did that come out of the advice that you got from members from last year? Well, in a way, it did, because every year we survey our members, we actually survey them after every lunch and all eight luncheons, and we take their advice to heart and we what we’re seeing throughout the years that people had some technical programs during the lunches and we try to mix it up a little bit on offer someone the rest of what they do. So the other part of what you do is the relationship side and that’s, probably even the more important side you could argue, regardless of your level of knowledge about this plan giving our gift planning aspect, you need to to be able to develop the relationship with the donor or the client. So that’s kind of how that came about a little part of the board looking at what we didn’t provide for members this year and then a small part of what we can do based on member feedback. Ok, of course, we’re talking about the symposium on may twenty sixth, but pygmy also does host monthly luncheons you mentioned. Why don’t you say little about those john? Sure, during the off summer months, every third wednesday, generally we have a luncheon program with a featured speaker and again a networking session beforehand, which is really quite important part of it and generally pre luncheon in the morning will have either a master’s form or a beginner seminar that was the pattern this year. In years past, we’ve had the same speaker doing morning session and then speak it lunch, so check it out and i think we didn’t give you our website yet. All this is on the website, which is www dot ppg and why dot org’s? Okay, you’ll be able to register for the supposing there and to find out about membership for next year, and we’ll resume those monthly luncheons in september. Okay, alex what’s the cost of registration. We have costs based on whether a person is a member or a non member. So i members get a little bit of a break. It’s two hundred seventy five dollars to register any time up until a couple of days before the conference. Non members. Or three. Fifty. And if you bring an additional person from the same organisation? Three hundred dollars. All right, that is the philanthropic planning symposium here. In new york city on may twenty sixth, again, the place to go to register is www dot p p g and why dot org’s? You’ll find out about the group and also the registration for the symposium there. I want to thank john bacon, president of the philanthropic planning group of greater new york, and alex brovey, vice president of the group and chair of the organization’s philanthropic planning symposium. Alex, john, thanks very much for joining us. Thanks durney been a real pleasure. Thank you. Next week, it’s going to be craig newmark craig is the founder of craigslist and he’s going to be my guest he’s going to be with me to talk about craigconnects his latest venture, which helps connect people of goodwill for the common good by highlighting non-profits that are making an impact. I hope you’ll be with me for that conversation with craig newmark. Of course, again, i want to thank my guests today, richard slutzky, john bacon and alex brovey you can keep up with what’s coming up? Sign up for our insider email alerts on the facebook page. If you go to the facebook page, you’ll see quite a bit about the blue pedicure challenge as well, until that scrolls away, but the video will be coming soon. I promised document video documentation you will get it while you’re there. You can, like us, become a fan of the show. Always. The show is on itunes. You can subscribe automatic downloads, of course. Listen on the device of your choice. Anytime you like, you’ll find our itunes paige at non-profit radio dot net creative producer of tony martignetti non-profit radio is claire meyerhoff. Our line producer is sam liebowitz, and sam is also the owner of talking alternative broadcasting and our social media is by regina walton of organic social media, who did an outstanding job helping to promote the blue pedicure challenge also want to give a special thanks to bobby fried l he is a professional photographer, he’s in the studio today, he’s shooting stills, he’s shooting video that will be available on the facebook page as well as soon as we get that all together. So special. Thank you to bobby freidel. This is tony martignetti non-profit radio always talking about big non-profit ideas for the other ninety five percent. I hope you’ll be with me next week. Next friday, one p. M eastern here on talking alternative broadcasting, which is always at talking alternative dot com. Durney metoo. I think that’s. A good ending. 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