All posts by Tony Martignetti

Nobel Prizes Were A Planned Gift

1893:  Swedish chemist Alfred Nobel (1823 - 1895), the inventor of dynamite (1867) and ballistite, a smokeless gunpowder (1869).  He left the fortune he made from the manufacture of explosives in trust for the five annual Nobel prizes.  (Photo by Hulton Archive/Getty Images)

I think about this every year. Alfred Nobel created the prizes in his will, with a bequest. A charitable bequest. That is the most popular of all the planned gifts and the bedrock of every Planned Giving program. I explained why in this 2009 article for GuideStar, “Get Going On Planned Giving.” (I think I could have done a better job with that title.) Nobel was an ideal prospect for a charitable bequest because he had no immediate family. He never married. Don’t end your prospect list there, but if you’re looking for a good starting point, it gets no better than people who love your work and have no close relatives.

He didn’t go about it the right way though. He wrote the will himself. That’s called a holographic will and it can create problems. It did for Nobel. Other family challenged the will. He left a big chunk of his estate to fund the prizes and that angered his heirs who felt shortchanged. A holograph greatly increases the chances that a gift to your charity will be challenged.

NEW YORK - OCTOBER 14:  (L-R) New York mayor Michael Bloomberg, deputy prime minister of Sweden Margareta Winberg, and Haakon Magnus, the Crown Prince Haakon of Norway, applaud after unveiling the new Nobel Monument October 14, 2003 at Theodore Roosevelt park in New York City.  The city of New York unveiled a monument to Alfred Nobel October 14, commorating the Swedish philanthropist and the hundreds of Americans who have won the prize that bears his name. (Photo by Chris Hondros/Getty Images)

Strongly advise your donors to have a lawyer prepare wills that contains gifts to your charity. Plead with them if you have to. If they flatly refuse–and some will–their gift is less likely to make its way to you than if they had hired an attorney.

The Nobel prizes would have been awarded five years earlier, but the will contest took that long to resolve.

There’s a cool 17-minute slide show about his will (and the gun-toting intrigue around it), and its actual language at Nobelprize.org.

Make 2010 the Year YOU Start Planned Giving

Man Giving Gift

I’m writing a year-long series of articles for GuideStar to help nonprofits get started in Planned Giving with a bequest marketing program. The penultimate, fifth article, is out today.

While it’s probably too late to start your program in this, the fourth quarter, you can start planning for 2011. The series has been going since February.

If you really want to dig into bequest marketing, here are the first, second, third and fourth pieces. They build on each other to lead you through the process of inaugurating your program.

Bequests are the place to start your Planned Giving program. They are always the most popular gift in any program, regardless of what type of work you do and who your donors are. Why? I explained that in this November 2009 GuideStar gem, “Get Going On Planned Giving.”

Nonprofit Radio for October 8, 2010: Back Office Blunders & Your 5-Minute Program

Big Nonprofit Ideas for the Other 95%

Compliance. Board relations. Fundraising. Technology. Volunteer management. Accounting. Finance. Marketing. Social media. Investments.

Every nonprofit faces these issues and big nonprofits have experts in each. Small and medium size nonprofits have Tony Martignetti Nonprofit Radio. Trusted experts throughout the country join Tony to take on the tough issues facing your organization.

Episode 13 of Tony Martignetti Nonprofit Radio for October 8, 2010

Tony’s Guests:

Jeff Marston, Principal, Resource Center for Management

Back Office Blunders: Stop squandering money on your back office costs; tricks to save BIG on supplies, phone, energy, desks, etc.

  • Handout for Jeff’s session: Cutting Costs (an Adobe Acrobat, .pdf, file. – download the software here). You can also grab the file from my new Media page.

Claire Meyerhoff
Your Five Minute Program: Super-streamlined events that keep your audiences informed, engaged–and awake


Here is a link to the podcast: 013: Back Office Blunders & Your 5-Minute Program

  • When and where: Talking Alternative Radio, Friday, 1-2pm

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    Durney hyre welcome to tony martignetti non-profit radio i’m the aptly named host of the show, tony martignetti where we’re always talking about big non-profit ideas for the other ninety five percent. Last week, we talked about going beyond google, we had gourmet prospect research on a goulash budget. My guest then was maria simple, and she shared strategies to get to know your current donors better and find new ones. Also, last week, everlasting endowment techniques to keep your endowment safe and invested, right? I hope you’re cfo and bored. I was listening to my guest, kathleen rittereiser this week, we’re talking back. Office blunders stop squandering money on your back office costs my gift my guest, jeff marston, will share techniques to save big on supplies, insurance, phone, energy, furniture and all your back office needs, and i’ll also be joined by claire meyerhoff, your five minute program super streamlined events that keep your audience is informed, engaged and awake. Claire is a marketing specialist for non-profits and has a lot of expertise in promoting and producing programs and events for non-profits between the two guests, it’ll be tony’s take two, i’m going to remind you again this week. Like i did last week, the irs says you’re non-profit status may be at risk. More about that in tony’s, take two, and also i want to share with you something pretty exciting. This show is going to be partnering with the chronicle of philanthropy to do podcasting at the national conference on philanthropic planning that conferences next week. We won’t have the audio from that for a couple of weeks. So that’s, not next week’s show, but we are partnering with the chronicle to bring you that this week, it’s again, back off his blunders and your five minute program, all of that. After this break, please stay with us. Talking alternative radio twenty four hours a day. 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. 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 two one two nine six, four, three five zero two for a free consultation. That’s lawrence h bloom, too. One, two, nine, six, four, three, five zero two. We make people happy. Hyre 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 on tony martignetti, the host of tony martignetti non-profit radio. I’m joined now by jeff marston. Jeff is the president of resource centers for management, and before founding the resource center’s, he was the first housing division director of the volunteers of america in new york city. He also has management and planning consulting experience throughout the u s and in saudi arabia, including two stints with booz allen and hamilton. So clearly you can see that his background is in non-profits and the corporate consulting area. So he brings that for-profit and corporate experience to our small and non-profit small and midsize non-profit audience, and i’m very pleased that jeffs practice brings him to the studio today. Welcome, jeff. Good to be here, tony. Pleasure to have you. We want to talk about saving money for small and midsize non-profits on the in the back office. Let’s, start with something that i think is a pretty substantial budget item for a lot of organizations, maybe all that that are able to even offer it. Health insurance. What suggestions do you have around health insurance and tony, i very much recommend that non-profits when they’re taking a look. At cost reduction. Start with health insurance because is usually the biggest item second teo salaries and wages so one of the critical issues in dealing with health insurance is never just renew your policy don’t just blindly say it’s another year, let’s, go let’s, continue where we’ve been, ok, what should we be doing instead? First of all, for smaller agencies and and small is fifty and under is that, uh, there are only six providers insurance providers in the state that will will deal with these small, smaller organizations in which state of your friends in new york’s, new york and the critical issue is to work with your broker, and you must pull your broker in as a consultant and is an adviser on dh that’s that advice applies regardless of where you’re located in any of the fifty states have this sort of consulting relationship with your broker exactly, and if you don’t get a new broker, they want your business and they will provide consulting services, advisory services work with you and if they’re not change brokers. And what sort of advice should you expect from this kind of a consulting relationship from your broker? Is a consultant. Two or three of the key issues are one. Do we have the right structure? There’s, the traditional structure of health insurance and where you have a relatively low deductibles and you have the other kind, the h r a h s a great deductible if we have to stop you. And in this show, we have jargon jail. Okay? And i’m the warden of jargon jail. I hate to put you in there, but it’ll be of a temporary stay. Please tell us what h r a and the other acronym of mean, but i can’t tell you with h r a stands for but h s a r a health savings account. Okay, they’re also known is high deductible accounts. You should at least talk to your broker about whether or not those structures that makes sense for your agency. And if they don’t know or they refuse to talk about it, get a new broker. Okay, thankyou. Your sentence in jargon jail is commuted. Okay, thank you very much temporarily. I hate okay now. Go ahead. Another thing is that since there are relatively few insurance companies in any state, do not go shopping for health insurance every year because the insurance companies will know you will get a bad reputation, and since their costs in the first year of serving you are much higher because they have to sign you up, they have to do all the data processing, et cetera you’re going you’re you’re going to get a negative image, so you want to stay you want to get into a situation where you stay with health provider for at least two or three years, unless they’re provide terrible service on dh, maybe you’re changing plans or benefit levels within that provider, but your advice is stay with the same provider whatever plan you’re into, correct thie other thing i would say about health insurance is that seriously, consider wellness programs, especially if you’re a larger agency and your broker and your health care providers should be able to work with you on that so your people use fewer health care services and therefore your premiums have a chance of going down and in just a minute or so we have left before a break, you’re going to be looking for your broker consultant to be advising you on the suitability. Well, you know, the suitability for your agency and what the wellness plans are that they should be, that you should be looking at absolutely which part of it is a professionalism? Part of it is the personality of the person. The other is are they the right size broker for you? If you have fifteen hundred employees, you don’t want a one person shop broker, and conversely, you’ve got fifteen employees. You don’t want to have one of the world’s five biggest brokers because they’re not going to care about you. My guest is jeff marston, and we’re talking back office blenders, saving you money on all kinds of back office costs on tony martignetti, the host of tony martignetti non-profit radio. We’re going to take a break. Please stay with us co-branding dick, dick tooting, getting thinking things, you’re listening to the talking alternate network, get in. Cubine hi, i’m new york state senator joe a dabo. I will be hosting a Job fair on friday, november 12 at aqueduct racetrack in queens, contending into three p m, we will have over one hundred companies looking for qualified workers. They’re all to be lectures on jobs, try to jeez and networking. So come and bring plenty of resumes and join me on friday, november twelve at aqueduct racetrack for a Job fair, intending m 23, p m. For more information, please call pete in my district office at seven one eight seven three eight one one one one altum. I really need to take better care of myself. If only i had someone to help me with my lifestyle. I feel like giving up. Is this you mind over matter, health and fitness can help. If you’re expecting an epiphany, chances are it’s not happening. Mind over matter, health and fitness could help you get back on track or start a new life and fitness. Join joshua margolis, fitness expert two one two eight sixty five nine to nine xero. Or visit w w w died mind over matter. N y c dot com 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. We look forward to serving you. You’re listening to the talking alternative network. E-giving thinking. Dick tooting. Getting thinking things geever no. Welcome back. I’m joined by jeff marston, president of resource centers for management. Jeff another a sizable portion of probably most of our audience is budget is office space office leasing. Most of our audience does not own a building. What about saving money around office leases? What advice do you have? It is a major area where people can save money. In the biggest blunder in the office leasing area is to not get your own broker. Everybody who has purchased a house. Ah, condo. A coop gone out and gotten their own real estate broker. And the sellers have their own real estate brokers. Yes, certainly. Every building owner has a broker right in commercial real estate, you never want to talk to the person whose name is on the building. The broker whose name is on the building that working for the landlord, you need to go and find a tenant only breaker. Who will work for you? This will save you money in the negotiations, and it will not cost you extra money. That landlord is going to pay a commission. When a transaction happens, he can either pay all of it to his own broker. Or he can split it in half and pay half to his broker and have to your broker. So this consulting advice does not cost you any money. So all right, so this non-profit does not pay for this broken relationship. And there are so many variables in a commercial lease on dh that doesn’t only apply in a big city, but there’s all kinds of chargebacks and emergency clauses, and how to get out of the lease and all kinds of contingencies. It’s. I think it’s just too complex for a non broker, non lawyer toe to figure out. And i’m not going to go in to a bunch of the details. But i would say to other things, first of all, because of all those details, do not rely on even the best real estate attorney, because the real estate attorney is not necessarily up on the market in terms of vacancy rates, costs of the give backs and he will make it happen, but a broker is the one that knows what the market is, so you need a good real estate attorney do not rely just on your real estate attorney to be your brokering represented the second thing is take advantage of the market today it is a buyer’s lee sir’s market, and it is very likely that if you have less than five years left in your lease, even if you love your building and want to stay, this is a good time to explore extending your lease, renegotiating your lease and so take advantage of the market. Ah, broker is going to know what the market is and be able to give you the good advice. I’ve often heard the advice that even if you intend to stay, it’s it’s valuable to go out into the marketplace, as you’re suggesting, because you can use the marketplace as leverage for re negotiating your release in the current space? Absolutely, and with today’s market with the vacancy rates hyre if a landlord loses a tenant, it is much more likely that they’re going to have vacant space for um, or extended period of time than, say, five years ago when ten a day left you clean it up, knocked down a wall paint put in new carpeting and three weeks later tenant he moves in that’s not the way it works, so landlords are much more interested in keeping good tenants. Um, what about phones and internet service and that’s something that every non-profit has what’s the what’s, the marketplace like there in terms of trying to save some money for them? Well, there’s good news and bad news on this we have the good news is that everyone, whether it’s, it’s, your home or your or your business of your non-profit has been saving millions and billions of dollars over the last twenty five years as a as a t and t was broken up, and new competitors have come in. And so we’ve all been saving an incredible amount of money. Therefore, i would recommend that someone ah non-profit not take a look at telephone and internet connections as a high priority area for cost reduction because so many contradictions have already been squeezed out of the market buy-in just because of of with market trends. I think that the first place to start within that area is in your data, not on your voice communications, and there was a lot more competition in the the line charges between communication hubs and you knows we’re starting to get technical, but they’re okay if you get too technical, put george in jail, but go ahead. But on the data side, ah, most non-profits are less sophisticated in that area and the in the market there was more competition buy-in in that area than there is over on the voice side. Okay? And on the voice side, i know that there are consultants who will work on a contingency basis. Now, i do understand your caveat that this is not a place to look maybe first or even second for cost, because we’ve already we’re all enjoying the savings and we all pay unlimited. We’ll pay a flat fee, probably for unlimited service, but if someone wanted to look at it, the phone side, there are these consultants to work on a contingency, right? And we’ll review your bill. Yes, there are, they’re two kinds of consultants, and they’re two different perspectives. There are certain consultants that will do an audit of your past bills and see whether you’ve been overcharged charge for things that weren’t in your contract and there’s a basically a fifty fifty contingency situation. Usually, if you have not, if you’ve either never had an audit or you have not had an audit in the last three or four years. It’s reasonable to consider it. Okay. The other kind of consultant is looking at the future and they probably will not charge a contingency. They they will get paid by the phone company the way an insurance broker is on a residual basis so you won’t have to pay for this service. They they will show you how to save money. And then you will just pay the phone company what you pay and the phone company will pay them a residual commission. And for these look back phone consultants. When you say it’s a contingency fee basis, that means if they save you money and i guess if they actually get your money back from previous errors, omissions, whatever mistakes they get fifty percent and you keep fifty percent that’s. Correct. There should be no other fees. Ah, no other exchange of money. And this sort of assignment, unless they actually save it and get it back correct and let’s look sort of expand from phone internet and look att utilities a little more generally. What way? Be talking about gas and electric, primarily gas and electric in some in some areas also a fuel oil. I know this is getting really boring. People start to glass over when you talk about when you, when you think about your utility bills, if you are paying them directly as opposed to paying them is part of your lease. This is an area where there is a whole new market, and in new york, they’re called s coz ceo energy supply companies. They are state regulated. They are approved by your local utility. Tell you’re afraid of george in jail again. I’m a quick learner, tony. By the way, my guest is jeff marston and he’s, the president of resource centers for management. We’re talking about backoffice blunders, saving you money in the back office. And, of course, i interrupted you. Jeff let’s, talk more about those energy service companies. Okay. Basically, they are legitimate. As they said, their their their their state monitored it. Is a legitimate organized market, and anyone can save sixty seven percent on their total utility bill now gas and electricity and ah also, most customers now have the opportunity to enter into a fixed price contract, and especially if you are interested as a non-profit of you were interested in budget certainty over a specific period of time. These energy supply companies can now offer you a fixed price for a year. Two years, three years. You you may save money. You may you made not save money because of the market goes down significantly. But if you are comfortable with where the market is today and you want that budget certainty then this is now offered to you through this this new energy supply company idea. And how do you find the energy supply companies? The s goes in your area, wherever you are in the us. Well, there are there two basic ways. One is you. Give me a call at eight, six, six two seven seven, eight, six, six xero or you go to the website of your local utility of or of your state public service commission and of do a little do a little seeking on. And you will find the names and contact information for all of those. The vast majority ofthe states that have decoupled supply from distribution in the energy business are located from the district of columbia to maine. Oh, okay, it’s, atlantic seaboard, the mid atlantic. Yeah, admit atlantic and new england. If you’re listening to us and in denver or minneapolis or or new orleans, your states are are not are not doing that yet. So so so outside the area from maine to washington d c you’re saying it’s pretty much just you work with the supplier that that is state authorized? Correct? There aren’t thes energy service companies s coz that’s? Correct? Let me also add that if you want to go broader than our discussion, i have something from jeff. The file name is cutting costs and it’s ah it’s from a workshop that he did on cost management strategies. He was the facilitator and i have it up on my block now that’s at mpg a dv dot com you click the media tab and you’ll find the file under today’s show date the october eighth and the fire was called cutting costs that is provided to our listeners from jeff. I want to thank him for giving us that resource. What else? Sounds like you might have more, more, more advice around utilities? How? Well, let me ask you specifically, how often should you be going into the marketplace to compare what you’re paying now with what you could be paying is that every year, every couple of years, how is that good question? Completely different from the health care area it’s. Completely different competitive situation. There are in new york state. There are about twenty five, cos it’s much more of a commodity. So basically, if you’re staying with a variable month to month kind of cost once a year, you should seriously reconsider. If you enter into a contract one, two or three years, then you, about three months before your contract terminates. You get back with the company or your broker, and and you take a look at it. But it’s much more of a of a commodity situation. It’s interesting. There are different areas of savings where you should be into the marketplace, um, or or less frequently, definitely. And this gets back into using your broker. Your provider? Your vendor as a consultant and finding out what the market is in terms of your relationship to the market in terms of buying and going out forbidden that sort of thing, so they will tell you, and it changes from subject matter to subject matter and it’s really up to you to broaden your relationship with your broker, tio, this consultative advisory role that you’re suggesting in whatever area we’re talking about, right? And you should not you should not feel hesitant to do that. People want to get they want to get your business, and they are able to provide these services and in tougher economic times they’re increasingly willing, and therefore you don’t have to staff up or it’s it’s there for the asking. One other thing on energy we’ve talked about buying energy for less thie other is using less energy. New york state has a subsidy for energy audits by third party funds to do an audit of your facility, so the state will help you pay for the others. And, uh, the cost of the audit is certainly less than a thousand dollars, and as i said, it’s, a third party, a situation it’s not done by a lighting engineering company, and so they’re going. Teo recommend all kinds of lighting situation thes air companies with with contracts with the state, and they will take a look at the physical plant and all your equipment and that sort of thing and give you give you a report, that’s the other side that’s the other side of the utility area where you may be able to save money. Certainly over the next a five year period, for example, and for our listeners that might be outside new york, that could be something that they should look for. Also, if even if there isn’t a state subsidy but the energy audit, maybe money worth spending because you can save the cost of the audit over several years in the future? Yes, and it’s, much more likely that this state subsidized program exists in in new york than it does anyplace else, given the level of expenditures in new york, my my warning for people is that they that is very possible that they could find the right consultant and they might find a affirm that is in the biz is in one segment of the business. Of lighting or h, v, c or some other area. But if you have a good heart to heart discussion with them about, we want to see everything, not just your specialty. You it may very well be worthwhile. Tohave it done. We have about a minute and a half left. Jeff, i’d like to look at the ah, the sort of more mundane actually have about a minute left office supplies off of everybody spending money on paper, paper clips, staples are their savings that can be wrenched out of this. Yes couple of rules of thumb never buy office supplies from a company that has retail stores. Really? Retail stores are expensive, and even though you’re buying over the internet, you’re paying for the retail store. So staples, office depot, although they recommend they are major companies that are lower, lower crossed so let’s, just focus on that because we only have a little time left in thirty seconds or so. What what’s the alternative if we’re not going to buy from staples, office depot, et cetera, where should we go? Well, ah, i have a favorite company and i don’t think we should i don’t think i should promote them, but if people want to talk to me about that, i can, i can do that off the air this is an area that most companies that they have not gone out for bid in the last twelve months can save fifteen to twenty five percent. Jeff again, if people would like to reach you what’s what’s the phone number or the e mail one okay, i’m old fashioned. Give me a call. Toll free number is eight, six, six, two, seven, seven, eight, six, six. Xero. My guest has been jeff marston, president of resource centers for management. I hope you got valuable back office blunder avoidance tips after this break going, toby tony’s, take two and then i’ll be joined by claire meyerhoff, where we’re talking about your five minute event. Super streamlined events to keep your audiences informed, engaged and awake. This is tony martignetti non-profit radio stay with us talking alternative radio twenty four hours a day. Hi, i’m new york state senator joe a dabo. I will be hosting a Job fair on friday, november 12 and aqueduct racetrack in queens, contending into three p m we will have over one hundred companies looking for qualified workers. They’re all to be lectures on jobs, try to jeez and networking. So come and bring plenty of resumes and join me on friday, november twelve at aqueduct racetrack for a Job fair from 10 a m to three p m. For more information, please call pete in my district office at seven one eight seven three eight one one one one altum 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. 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 dafs talking alternative radio twenty four hyre. Durney welcome back, i’m tony martignetti jeff marston left us a little bit hanging there because he sort of teased us, he said. Don’t use the brick and mortar stores because their overhead is so high and he has a provider that he strongly recommends for office supplies. I am going to post his recommendation on our facebook fan page, so when you go to facebook, then you just search tony martignetti non-profit radio you’ll go to the fan page and very shortly after this show, you’ll see what store he recommends. Four office supplies saving big money from the sort of big brick and mortar stores it’s tony’s take two time roughly thirty two minutes after the hour, and i’m goingto remind you, as i did last week, that the i r s has something you should be paying attention to your non-profit status could be at risk. I’m reading from a press release of theirs from this summer small nonprofit organizations at risk of losing their tax exempt status because they failed to file required returns for two thousand seven, two thousand eight and two thousand nine can preserve their status by filing returns by october fifteenth of two. Thousand ten under a onetime relief program that gives you a week. So you go to the irs dahna dot gov site, and they have a list of non-profits that are at risk? Um, i can save you having to navigate through their sight because on my blogged at m p g a d v dot com there’s an irs widget, and you click on that widget, it will lead you directly to the list of non-profits that, the internal revenue service has said are at risk for losing their non profit status because of not having filed in the over the past three years. So at the blogged click the widget, you can see the list if you’re not in a non-profit but if you know people in non-profits you might want to send them to that widget so that they can read the list and see what organizations are at risk of losing non-profit status, i’d hate for you to not be able to listen to tony martignetti non-profit radio. I mean, how can you listen to the show if you’re not a non-profit if you lose your tax exempt status, you can’t listen to this show that’s. Probably the biggest consequence of letting this happen, and i also want to tell you that i’m pretty excited to be partnering with the chronicle of philanthropy at the national conference on philanthropic planning next week. It’s down in orlando, florida, the chronicle and tony martignetti non-profit radio are going to partner to produce podcasts, we’re going to be interviewing speakers off line and then offering those interviews for you on this show. And of course, the chronicle of philanthropy will also host those interviews on their site. So that’s ah, that’s pretty cool, we’re ah, we’re partnering with ah pretty well known media outlet very pleased to be doing that, and we’ll be bringing those interviews to you later this month or or early in november. I’m now joined by claire meyerhoff. Claire is a marketing specialist for non-profits we’re going to be talking about your five minute program, super streamlined events that keep your audiences informed, engaged and awake. Clare is a marketing specialist who works with fundraisers and nonprofit organizations she’s, a former broadcast journalist with lots of acronym big acronyms, cbs radio, x m and cnn and during those stints, she covered lots of events either. Covered or attended hundreds of non-profit events, she combines that experience with her production skills to help non-profits design and execute programs that are entertaining, informative and concise. And we’re going to be talking a lot about concise because the topic is your five minute program. I’m very glad that claire’s work is her to the show today. Claire, welcome. Thanks, tony, thanks so much for having me. Because this is a great forum to share with the non-profit audience about events which are so so important. Yes, i’m pleased to have you back. Claire’s, a repeat guest and also the creative producer for tony martignetti non-profit radio. Claire, i think organizations don’t pay enough attention to planning their their events. Their program. What advice do you have? Well, i think that in my in my little a world where i where i come up with little acronyms for things, the little names for things i’ve just come up with this is i was waiting to come on and that’s that i think the event and specifically the program portion of the event is the final frontier of fund-raising you could see me, you can see why claire is the creative producer of this show she’s waiting on hold to join the show and she comes up with final frontier fund-raising please go ahead elaborate. Sorry, it’s it’s the final frontier of fund-raising is what’s what’s. The first step of fund-raising is just is just the ask the simple ask, you know your son is raising money for jump rope for hard, and he goes to the next door neighbor, and says, would you support may and that’s an easy one, right? Because that’s the neighbor and it’s, not for very much money. So that’s that’s a pretty easy ask so that’s, sort of the first frontier of fund-raising and then we go, you know, down the line for very sophisticated asked, and even, you know, planned giving and thank you, she she mentions plan giving say so dear to my heart. Yes, the more sophisticated, you know, that’s sort of a ah, deep frontier of fund-raising it’s a long time before you get that donor to the point where they’re goingto do a bequest, our charitable gift, a new innovation so there’s all these different levels of the ask and fund-raising and when you put on a fundraising event that is the time of year where you’re celebrating your organization, you’re having fun with it, you’re inviting all these different people to come. They bought a ticket for thirty dollars, seventy five dollars, one hundred fifty dollars, six hundred dollars, depending on where you are and how fancy your event is. So now these people have come and they’re all dressed up and you spend a lot of time on the food and the orders and the decorations. And should we have balloons, or should we have four kids? And what should the place look like? Should we have strolling singers and acrobats running around our event hall? So it’s it’s very events are very labor intensive, my my event supremely labor intensive and then when i found from working with non profit organisations, is that the program part of the event is almost an afterthought. It’s something that happens maybe the week before or even i’ve seen it the day before, where they say okay, well, who’s going to get up and speak and what are we going say and who’s going to say what? And the program is really one of the most is more important than the little shrimp order bs that you serve or if you’re going to have caviar or little tiny hot dogs, it’s much more important what you actually say to your donor’s while you’re up there on a stage and you have their undivided, hopefully attention. So that’s, why it’s so very important this is an opportunity for you to speak to donors, whether they’re long time dedicated donors or they are that donor’s guests at the event. So let’s say you have someone they’ve been coming to your event for ten years, and they are very good supporters. They’re in your hair in your special circle, they give, you know, twenty five hundred dollars a year and they are very important donors to you, and they have brought their friend, their neighbor, who they would like to introduce to your organization. So this is your chance to speak. Can not only your dedicated donors, but also your your new donors, your potential donors, potential friends of your organization so it’s really, really important it’s almost more important to me than just about anything else, except perhaps the auction if you’re going to have an auction, okay, so that’s really important? So pure, so clearly now the program people, you are on stage, you’re on the air, you know, let’s say your you know, a newscaster and you have five minutes or ten minutes to talk to your audience. What do you tell them? You tell them the most important news of the day or things that you think your particular audience is interested in learning about so that they don’t shut you off or turn you off. So think about your guests as viewers that are watching your little show about your organization, and so you’re recommending claire the five the five minute programmes you want, you want the program to be more important than whether the bunting matches the flowers clearly and you have the really the five minute program tell us about what buy-in organization should be doing at this gala in just five minutes. Well, there’s, a lot that you could do in five minutes and you have these people and they’re usually sitting there right there, the round tables in this big room at the d’hotel, and they’re sitting there and what i like to say is that your guests, our donors and guests and friends they’re not hostages, they’re not a hostage for the next five minutes, ten minutes a half hour to your speakers and your program, they’re your guests and they could just get up and leave, but they’re much, much too polite to do that. So your goal is to keep them engaged and keep them informed and keep them entertained. And i think that that’s the perfect way say it and so what’s, your first step is you want to, you know, welcome that you want to greet them. That’s easy to do, you don’t have to say a whole lot to greet them. You don’t have to go on and on with the greeting you just simply, you know, thank everybody for being there. So that’s, the most important part is to thank everyone several times, just as you would thank a donor several different ways of, you know, a good donor. You would thank um, several different ways you’d call them you send them a note, you didn’t fight them to a little event. You thank them in a lot of different ways, whereas whereas we’re as we’re developing the program, who should be the key speaker, who should? Be the first one up to say thank you. Well, the first one option to say thank you should be really quote the host of the event whoever that person is that was kind of the most important person in bringing all these people together. So let’s just say this particular year you have a local person who’s very well loved. Maybe you have the local ah weathercaster from the tv station whose daughter has really benefited from your after school program that you’ve been running for years. And she’s decided this year to step up from doing something kind of simple to being the chair of the event. So let’s just say she’s been very, you know, she’s been key in planning this event and that’s why people are there, she should be the person that should get up and thank everybody, not the executive director of the organization. So it should be that key person that people are going toe really appreciate them getting up and saying thank you. So think, really think about and not just go to the default like, oh, we should have, you know, our event chair or we should have our executive director get up, speak. So it could be you know, anybody that you think is that person that everybody that’s in the room would be interested in having them thank them. So come up, come up with who that person is, and and that person kind of plays the role of the host. And this is a simple little roll of just keeping keeping things moving along because it is a little program. It’s a little show. Just like when you watch jay leno, he is the host. He keeps the show moving along. Yes, the band plays. Yes, the guests come on and talk. Yes, there’s. Some other there’s a singer performing or something like that. But jay leno was the host that he keeps things moving, so appoint someone the host i can think of another host isn’t. Isn’t there another host you might like to use as an example host of ah, a radio show, perhaps, who keeps things moving along and has guests and they come in and is there possibly another example besides jay leno? Oh, what a coincidence. Oh, thanks. Carry great non-profit radio show on the planet. As far as i know, i didn’t ask you to say that part thank tony, keep things moving along and he did besides what the show is going to be like, and he keeps things moving along and make people feel welcome. And most importantly, tony martignetti is a radio host. What he wants to do is keep people entertained and engaged and informed and staying show on dh claire, i have to tell you, just clear to my role we just have about ninety seconds before the break and you had just explained who the the first guests should be. The main host should be thanking everybody in just a ninety seconds til we have before a break what should come after that person in your five minute program? Well, in my five minute program, i could probably do that. I’ll run the whole program down for you in ninety seconds, and i’ll do it head into the brakes. So your first thing is someone greet, greet the crowd. The next thing is they tell them why they’re they’re so tell them something important about what’s going on right now that they might not know about. So you know you’re here because because this year we’re launching this major endeavor where we want to, you know, we serve fifteen schools now, and by this time next year we hope to be in every school in the county and that that takes a lot to do that. So tell them something very important. Give them some news about why they’re there and why it’s important then the next thing that you khun dio is is simply give someone a gift and that’s my favorite way tio, to build a program around the gift say it’s an after school program and you have a teacher in the program who’s really done fantastically she’s done wonderfully. And her dream is tio, you know, take the kids, ice skating or something and do these different things for the kids. But she needs a certain amount of money to do it that’s outside of the normal budget. So this is a great way to honor this person. Plus explain a little bit more about your mission. So you can say, you know, we have our guest of honor tonight is, you know, mary katherine stewart. And she is the director of such a program. And she’s been here for twenty years. And she’s done extraordinary work, and we would like to say thank you to her tonight. Then she comes up and you say, and we have a gift for you, mary, catherine and it’s, something that she doesn’t know about. You know, we know that you’ve been dying to take the kids to the brand new skating rink, so here is a gift certificate from the skating rink. They’ve agreed to do this and that, and the other thing, and where we have to leave it there, we have to leave it there. We’re gonna take a break, and we’ll pick it up after giving a gift. This is this is you did have get you more than ninety seconds. My guest is clear, meyerhoff taking over the show, she’s, a marketing specialist for non-profits. Please stay with us. You couldn’t do anything, including getting thinking things, you’re listening to the talking alternative network, get in. Nothing. You could. 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 two 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. Durney is lack of capital or credit keeping you up at night? The show me. The money conference is coming to the roosevelt hotel, forty five east forty fifth street in manhattan on november third. This’s the best business networking opportunity to meet potential investors and lenders, and get answers from our expert panel of business and financial advisors. From or information, call six four six six one nine eight, xero nine one or online at rose otto accounting that’s r o s a d o accounting, dot, com, slash show me the money. This is tony martignetti, aptly named host of tony martignetti non-profit radio. Big non-profit ideas for the other ninety five percent. Technology fund-raising compliance. Social media, small and medium non-profits have needs in all these areas. My guests are expert in all these areas and mohr. Tony martignetti non-profit radio fridays, one to two eastern on talking alternative broadcasting. You’re listening to the talking alternative network. Geever metoo welcome back. We’re in the midst of the five minute program with my guest, claire meyerhoff of marketing specialist for non-profits and claire, we were so far have covered the greeting, why we’re gathered, give a gift, what are the other elements? Just briefly of your five minute program and they will dive into a little detail? Well, the other elements of the five minute program are basically what you feel like you absolutely have to include so that’s where, you know, you’ve decided that while we have our board chair is retiring this year, we need to honor him or we have a new director. We need to have him speak, he has to speak. If he doesn’t speak, you know the world will collapse and that’s that’s what’s really important with the program is to completely tryto limit the number of people that are getting up in speaking. And then the next challenge is to limit the amount of time that they are speaking. So if you could give people something to do rather than just give them this open ended, we would like you to speak that’s your first step in in controlling on that’s something to do was probably give a gift. Let’s, let’s, explore that. There are two things i definitely want to dive into e-giving the gift and sharing your timeline, but let’s talk giving the gift what do you mean by that? Well, in the giving the gift is this is a way for you to do a numerous things with one simple gesture, one simple action, and that is you can have the, you know, the giver of the gift could be an important person, so let’s, just say you have a new executive director and it’s important to introduce him to your crowd, but you don’t really want him to speak for ten minutes and give his resume and his vision for the future because you’re going to bore your audience with that. Yes, so instead you can have your new executive director give that gift to the woman that has done a great job for your after school program for the last twenty years. So this is where you if you have an honoree, in other words, you’re saying this is this would be a great opportunity to honor that honoree by having that the special person give a gift. To the honoree, is that what you’re talking about? Exactly? It gives everybody like something to do, as opposed to just an open end, and we would like you to speak or we’re going to give you this award, so please get up and speak for a half an hour and for assault also tears. So if you have this honoree that’s, a way to introduce them, so you let’s just say it’s, the new executive director, and and she has come from, you know, let’s, just say you’re in st louis and she’s come from new york city, and she used to run some big organization and now she’s with you and and you want to let people know that so that you introduce her? You say we’d like to introduce our very new executive director she’s part of all our exciting plans for the future and she’s come from new york and she’s done this and she’s done that and it’s a better way to do it rather than have the person talk about them selves, because when people talk about themselves, it’s one of two things it’s either they you know, go on and on and on. To tell you how great they are or their humble like hopefully most people are and they don’t like talking about themselves. A lot of people have said they really don’t like talking about myself, so let someone else do it. And in this case, it’s your host of your event so they can say we have our new executive director. I’d like you to introduce her to you, she’s come from new york, where she ran this, that and the other thing and we’re so excited to have we could not possibly dream of ever having a wonderful person like this here in st louis helping our organization. And we’re gonna we’re gonna put her right to work by announcing who our honoree is this year. So then you’re you’re first honoree. Really? Your new executive director gets up and then they know all they have to do is say, oh, thanks for saying that night i’m so happy to be here in st louis. I love it here already and there’s so many great people here, and i’m gonna tell you about one of them right now. And that’s mary katherine stewart, who is our executive, you know? Our director of our programs and is doing it for twenty years not such a great job, we have a gift for you. This is exciting, you know, trip, you can take your kids on whatever it is you give her, and then the executive director gives the gift to your other honored person. Now all your other honored person has to do is say thank you for the gift you have to say anything else and look at the things you’ve done now in a very short period of time for your audience, your donors, you’re dedicated donors and your potential donors, your new friend, they see that you have great people working for you. They see that you’re very generous and that you have your act together, that you went out and got a gift for this person, that you could afford to do that. But you’re not dying in this economy, like so many people are cutting back, you actually went out and got a gift for this person kapin the gift has something to do with another sponsor. So in this case, i’ve come up with this skating rink where thie person, the honoree is going. To take her kids from her program. And so now that skate rink gets a nice big thank you in front of the whole crowd of people so used now brought in another spot, sir, and you, you’ve highlighted somebody else. We have a right and a small amount of time you’ve said, thank you. And you’ve also explained a little bit more about your mission. The gift should have something to do with the mission. We have to move on to the next topic i want you to share your ideas on, and that is you alluded to it the value of the timeline, but we just have about thirty seconds. Claire what’s what’s the value of the timeline and who should we be sharing it with? Well, a value of the timeline is that it keeps everybody on schedule, so someone needs to be appointed a producer of an event, and that should be someone with experience doing something like that. They don’t have to be a professional producer, but just someone that knows how to make the trains run on time. And everybody knows somebody like that. And you say we have five minutes. How are we? Gonna fill that up and they come, they just do a little run down timeline. This is what happens, you know, from the you know, the first minutes of the second minute, second minute of the third, fourth, fifth boom and if you try to make it five minutes on paper in reality, it might be about ten minutes long. We have to wait. We have to stop there. I’m sure there’s also value in sharing that timeline with the people who are going to speak so that they see you speak for one minute you’re on for two minutes, and all of this adds up to your five minute program super streamlined events. My guest has been clear meyerhoff marketing specialist for non-profits you can contact claire through my for the facebook page on the website because she’s, the creative producer, and that’s the way to reach her if you’d like more information on her five minute program. I also want to thank my previous guest, jeff marston, the creative producer of sony martignetti non-profit radio claire, of course, our line producer sam liebowitz, our facebook and social media, of course, as always, by regina walton of organic social. Media, this is tony martignetti non-profit radio. Join us next friday, one p, m eastern. Pretending to do, you’re listening to the talking, alternate network, waiting to get in. Nothing. You could. I really need to take better care of myself if only i had someone to help me with my lifestyle. I feel like giving up dahna is this you mind over matter, health and fitness can help. If you’re expecting an epiphany, chances are it’s not happening. Mind over matter, health and fitness could help you get back on track or start a new life and fitness. Join joshua margolis, fitness expert two one two eight sixty five nine to nine xero. Or visit w w w died mind over matter. N y c dot com wolber this is tony martignetti aptly named host of tony martignetti non-profit radio big non-profit ideas for the other ninety five percent technology fund-raising compliance, social media, small and medium non-profits have needs in all these areas. My guests are expert in all these areas and mohr. Tony martignetti non-profit radio fridays, one to two eastern on talking alternative broadcasting hi, i’m new york state senator joe a dabo i will be hosting a Job fair on friday, november 12 at aqueduct racetrack in queens, contending into three p m we will have over one hundred companies looking for qualified workers. They’re all to be lectures on jobs. Try to jeez and networking. So come and bring plenty of resumes and join me on friday, november twelfth at aqueduct racetrack for a Job fair from 10 a m to three p m for more information, please call pete in my district office at seven one eight seven three eight one one one one. Dahna 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. You’re listening to the talking alternative network. Duitz

  • This Year’s Clinton Global Initiative

    Sept. 23, 2010 - New York, New York, U.S. - Clinton Global Initiative 2010 Annual Meeting.Closing Plenary Session.The Sheraton New York Hotel and Towers, NYC.September 23, 2010.Photos by ,  Photos Inc 2010..K65983SMO. © Red Carpet Pictures

    Maybe it’s just me, but I haven’t seen a lot of press about this year’s Clinton Global Initiative. Not that it was ignored, but I heard more about the Iraqi president’s speech to the U.N General Assembly.

    CGI is such a praiseworthy event. Commitments get made to nonprofits, not merely paid lip service. Six billion this year.

    Reuters covered it, so click over and see what they had to say.

    Tony Martignetti Nonprofit Radio for October 1, 2010

    Big Nonprofit Ideas for the Other 95%

    Compliance. Board relations. Fundraising. Technology. Volunteer management. Accounting. Finance. Marketing. Social media. Investments.

    Every nonprofit faces these issues and big nonprofits have experts in each. Small and medium size nonprofits have Tony Martignetti Nonprofit Radio. Trusted experts throughout the country join Tony to take on the tough issues facing your organization.

    Episode 12 of Tony Martignetti Nonprofit Radio for October 1, 2010

    Tony’s Guests:

    Maria Semple, The Prospect Finder.

    “Go Beyond Google: Gourmet Prospect Research on a Goulash Budget

    Tips on free prospect research resources to know your existing donors better and find new ones”

    Cathleen Rittereiser, co-author, “Foundation and Endowment Investing”.

    Everlasting Endowment: Techniques to keep your endowment safe and invested right; Your CFO and board should listen

    • When and where: Talking Alternative Radio, Friday, 1-2pm

      Click over to our Media page for the files we’ll discuss during the show.

      You can subscribe on iTunes and listen anytime, anyplace on the device of your choosing.

      Sign-up for show alerts!

      “Like” the show’s Facebook page.

      Thanks.

      Here is the link to the podcast: 012: Going Beyond Google & Everlasting Endowment
      View Full Transcript

      Transcript for 012_tony_martignetti_nonprofit_radio_10012010.mp3

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      Hello and welcome to tony martignetti non-profit radio big non-profit ideas for the other ninety five percent. I’m your aptly named host tony martignetti i want to thank larry bloom for that shout out saying hello, what a heartfelt and tender, sincere show he he just ran if you didn’t hear it right before this show it’s the divorce, our with larry bloom, you’re non-profit if you’re feeling left out of the mix because you’re smaller midsize left out of consultants, attention, the media attention, you have a home here at tony martignetti non-profit radio last week, we had tips to tune up your plan giving program by hiring the right financial partner and how to have a good working relationship with that partner, and we also featured a new segment i’m looking remember that was advice for non-profit job seekers from recruiter paula marks and that’s going to be a recurring feature on the show this week. We’re going beyond google gourmet prospect research on a goulash budget. My guest, maria simple, the principal of the prospect finder, is going to share strategies to know your current donors better and find new ones. I’ll also be joined by kathleen. Rittereiser we’re going to be talking about everlasting endowment in the second half of the show techniques to keep your endowment safe and invested, right? She has researched what the big, sophisticated endowment managers do and she’s going to share what she learned your cfo and board should be listening it’s not too late to call them up and have them listen because she’ll be in the second half of the show and between the guests around the half hour it’s tony’s take two this week, the irs says you’re non-profit status may be at risk if you’re not a non-profit you can’t listen to this show, tony martignetti non-profit radio we can’t have non non-profits listening to the show, do you want to risk that as well as possible your tax exempt status that’s probably secondary toe not being able to listen to the show that’ll be tony’s take two around the middle of the show, i’m your host tony martignetti this is tony martignetti non-profit radio we have a ninety second break, and then i’ll be joined by maria simple. Talking alternative radio twenty four hours a day. 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. 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 us ed to one, two, nine six four three five zero two for a free consultation. That’s lawrence h bloom to one to nine six four three five zero two. We make people happy. Hyre geever. Hey, all you crazy listeners looking to boost your business? Why not advertise on talking alternative with very reasonable race? Interested simply email at info at talking alternative dot com. Welcome back on tony martignetti, host of tony martignetti non-profit radio i’m joined now by maria simple, the prospect finder larry bloom on the show before, when he was signing off and saying goodbye, said he doesn’t know what a prospect what the prospect finder is. While we’re talking about prospect research, maria samples company is the prospect finder. She’s, the principal of the company and the website is the prospect finder dot com maria is an experience researcher, trainer and frequent speaker on the topic of prospect research, she consults with non-profit organizations and helped them helps them find their best prospects for long term relationships. She’s, a member of the association of professional researchers for advancement, that’s apra. And prior to her work in this field she was a securities dealer in the investment banking industry. And interesting now she also does consult for financial services firms, helping them find the best prospects. I’m very pleased that her practice and work brings maria simple to the show. Maria welcome. Thank you so much and on a lousy crummy day thank you for coming into the studio from new jersey. It is a bit rainy today, maria what’s the value of prospect research for small and midsize non-profits why should they be thinking about it doing it? Well, you know, the more that on a ah, non-profit can learn about their potential donors, they’re donorsearch prospects ah, and their philanthropic interests it’s going to enable them to really hone in on matching the interests of the donor ah, with the organization’s mission on dh so we’re going to be looking at or what the organization is doing is looking at the background of people and there and sort of their biography and profile to find that kind of a match. Yeah, that’s, right. So what we like to do is take a look at not only somebody’s capacity to make a gift, hopefully a major gift to your organization, but also whether or not they have an inclination to want to give to your type of cause. So just finding out that somebody is wealthy does not mean they’re going to want to part with their money and give their money to your organization. So it really is helpful to know what their charitable interests are, where they have given before and at what levels if if we could. Possibly find that information in the public domain. Okay, and that actually leads to the public domain. Leads to my thoughts about some resource is that small and midsize non-profits can use that are either free or very low cost. Can we start toe? Think about some of those. What are those? Well, first and foremost, i think it’s time for all of us to kind of get back to basics and revisit our good old library. So for those of you who do not have a nup dated library card, i highly encourage you to get a local library card or perhaps one of your state level county level. Or even sometimes your alma mater will allow you access to the library. And the reason why i say that is because libraries have changed tremendously in the last ten, twenty years. We’ve seen a lot of databases become available for ah, for the public to use. And you can access the many of those databases from your home. Your office, really, any computer anywhere in the world. As long as you have that barcode and you have internet access. My guest is maria simple, the prospect finder and we are live this week. We can take your calls for maria the court number to call is eight seven seven for eight xero for one, two zero, eight, seven, seven for eight xero for one to zero. So, maria, just the public library. Really? Yeah, the public library in terms of the databases, but also many, many libraries have access to reference librarians where you can call in actually the type in a chat with a reference library in twenty four hours a day, seven days a week. So very often, if you’re having trouble finding the answer to the type of question you’re looking for on some research that you’re doing very often, the librarian will be able to help you really pinpoint exactly where that resource can be found. Either online or within their own resource is that they have what are some of the database is that people might find through their library one database that can be particularly useful and identifying local successful business is business owners would be something called reference yusa and ah, that is in a database that one can access directly, but it’s also available through many, many library, so you can compile lists you khun research companies that you already know about on dh so that one can be very, very useful. Another such database would be who’s who type of database. It is a biographical resource, it’s it’s still available in many libraries and hard copy format. But you can also access it through a lot of libraries by getting in either at the library itself or with your barcode from home and let’s dive into some of these resource is what what kind of information can people expect to find from the who’s who, well, who’s, who was actually provided the biographical, uh, resource itself. The profile itself is provided by the individual who the re sort, who the research is done on. So the name of the individual where they reside, where they work their charitable interests, whatever information they have provided to who’s, who is what you’ll be able to get out of this particular resource. And maria, just in the thirty seconds or so we have before the break, isn’t it possible some libraries that you can buy a card for the library? If you’re not a resin? Local resident? Yes, you might check into some. Of the larger, really large libraries nearby and see if you can actually tap into purchasing a library card. I know that that is definitely an option in somerset county, new jersey, where i reside. Ah, and so you might definitely check into your local county or statewide library. See if that is available to you. My guest is maria simple, the prospect finder maria’s going to stay with us after this break. I hope you will, too. I’m tony martignetti. You’re listening to the talking alternate network, get in. I think. Cubine hi, i’m new york state senator joe a dabo. I will be hosting a Job fair on friday, november 12 at aqueduct racetrack in queens, contending into three p m, we will have over one hundred companies looking for qualified workers. They’re all to be lectures on jobs, tried to jeez and networking. So come and bring plenty of resumes and join me on friday, november twelve at aqueduct racetrack for a Job fair from 10 a m to three p m. For more information, please call pete in my district office at seven one eight seven three eight one one one one, oppcoll. My real self, if only i had someone to help me with my lifestyle. I feel like giving up dahna is this you mind over matter, health and fitness can help. If you’re expecting an epiphany, chances are it’s not happening. Mind over matter, health and fitness could help you get back on track or start a new life and fitness. Join Joshua margolis, fitness expert at 2 one two eight six five nine to nine xero, or visit w w w died. Mind over matter. Y si dot com. Durney 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. You’re listening to the talking alternative network. Welcome back to tony martignetti non-profit radio. I’m joined by maria semple, the prospect finder. Her website is the prospect finder dot com maria. Before the break, we were exposing people to the idea that the public library you said back to basics could be a really good source of information, and people can actually bike a library card if they don’t live in the region. So what? Um, what specifically could we do with the information? Let’s? Take the who’s who? Ah, typical biography, you said it’s, provided by the person who biographies on what what’s a what’s a non-profit going to do with the information that they find? Well, very often, it’s going to give you some really good information about somebody’s career. So let’s say we’re profiling somebody who happens to be a longtime employee of a public corporation. Ah, there maybe the ability for the non-profit to garner gift of stock from this individual. So just knowing that they have been ah, in a long term connected to a public corporation, you can actually ah, research out to see if they happen to be a corporate insider. Ah, and corporate insiders must report all of their trading activity to the securities and exchange commission. So this is one thing that a non-profit khun do. If they feel that somebody has really risen to the ranks of being a corporate insider, they might be able to ask, forgive to stock instead of a gift of of cash spotted. This could be particularly important if you’re looking at a major gift for a capital or an endowment campaign. S o definitely a resource stop for one second. We have ah, on the show, we have a jug in jail, and i’m the warden of jog in jail. So i have to take out the keys and ask you about an insider. What is the definition of an insider in a corporation? Well, if you are considered a corporate insider by the securities and exchange commission, you basically fall into one of three categories. You’re either one of the top officers of the company, in which case all of your stock positions as well as your salary history going back three years, is provided to the sec and in publicly filed documents, you also have the entire board of directors. Ah, that would be considered part of the corporate. Insider group and anybody owning ten percent or more of the outstanding stock of the company would be considered a corporate insider. So if you’re in one of those three categories, you do report all of your trading activity in that particular stock to the sec. Thank you for that. Right now you’re out of the jail. Wardens open the gate, the doors because you gave us that definition. What you said earlier. You want to try to match the a person’s background with your mission and your work? What about finding other non-profits that they give to that might be within your area? How could someone find out what other organizations someone gives too well? You can sometimes find it out through those biographical resource is also a newspaper articles s o i’m not suggesting you have to read every local newspaper where national newspaper but there are re sources such as news directory, dot com newspapers, dot com where you can go and research papers nationwide. So if you know if somebody that has perhaps a residence in manhattan but also spends part of their year in palm beach, florida, you might check newspapers related to those two. Regions to see if their name happens, teo, be connected to any major fundraisers gallows. Perhaps they’ve named a wing in the hospital in one of those two locations. So really, you know, looking for any press as well, that you might be able to find on the individual and googling them, learning how to use google? Well, actually, i always skip the main google page, and i go right to the advanced search page because it will enable you to, like, say, for example, tony, if i were researching your name, i would put your name in quotes, and i would ask google to return to me the hits that have only dot or go after them or dot edu, because that what that will tell me is that you are perhaps connected to those non-profits in some way either serving on the board ah, we’re making some donations, you’ll find nothing about me because no one goes to my blogged no one reads the content that i put out so you’re welcome to try but there’ll be nothing. What? Um, what about the person’s college? Could we if we know where they went to school? Can that be? Ah, possible source of information. Yeah, sure can, especially if you have a board of directors who is very active board of trustees was very active with you in trying to do some fund-raising if you’re able to determine either through a biographical sketch like in a who’s who profile or even looking at somebody’s linked in profile, those profiles are filled out by by all of us individually, and we do list where we’ve gone to school on those profile, so having perhaps that knowing that that you have a boardmember that went teo cornell and a and your prospect went to cornell, that might be the person that you want to match up to actually make thie cultivation and solicitation calls. My guest is maria simple, principal of the prospect finder maria provided a resource called going beyond google to find to find and research individual donor prospects, and you’ll find that resource as a pdf on my blogged at m p g a d v dot com and you cook the media tab and its you’ll find it there, and you’ll also find it, of course, on maria’s website maria, where would people find it on at the prospect finder dot com i have a resource is tab, so that document is there it’s going to give you a good overview? Prospect research, as well as a number of resource, is that you can begin tapping into immediately ah, that are even outside of the library world. Just websites that you can go to to begin doing prospect research. And i give you some guidelines as well, for maintaining confidentiality of the information storage of the donor data and you know, some tips on what to do once you’ve got the information and that’s all in the resource center of of your web site, the plastic finder dot com people get outraged a little bit by the availability of public information governments, state, local governments well and the federal government to putting so much on the web. But that’s sort of rich area, isn’t it? For prospect research he’s publicly available records and documents? Yeah, in fact, prospect researchers that work in non-profit institutions on ly have access to information that is publicly available. So it’s available by anybody. I know that donor private individual privacy is a huge hot topic today and what i can tell you about that? Is that the association that you mentioned earlier? Apra association of professional researchers for advancement, we actually have an entire code of ethics and guidelines to follow s o that people are their information is safeguarded on dh any anything that is compiled either in paper format or is stored in a computer is all safe guarded. So we do want to make sure that we are maintaining the confidentiality of the information and so let’s dive a little further into these public records. What kinds of things can people find in and say dmv database is marriage databases, real estate databases that air that air all publicly accessible? Well, the d m v database is we don’t we don’t tap into you can tap into some marriage and divorce records of the records that are tapped into quite frequently, though, are the property records? So we do like to have a general idea about somebody’s wealth with regard to their primary and any secondary properties they may own. So we tried to look at the value of those properties as well as perhaps the taxes that are paid on those properties and just would give you a general idea of their level of wealth, and in that case, if they’re the government documents you’re, you’re likely to see the the assessed value, which is often a lot lower lower than market value. Do you have any resource is for for market value on property? Yeah, actually, a really good resource is zillow z i l l o w that one it’s free zillow dot com you can actually even get a pic stir of the property in question, and it’ll give you a really good idea of where the property has been in value over a certain period of time. S o u will definitely have, you know, a pretty good sense of that. That person’s property value all right? And so now we’re giving people advice too, and a tip that they can go search their friends home, value their neighbor, right? I mean, we can we can take this a little beyond non-profit prospect research, but we don’t want to. We don’t encourage that. No, let’s. See what? What it should be in a sort of a prospect profile if if if someone is contracting with you or someone else for information on a donor or maybe a dozen or so donors? What kind of information should they expect to be in a profile? That’s going to be valuable to them? Okay, well, typically, the profile will contain information about the property addresses. As i mentioned earlier, where they went to school, their education, their work history where they’re currently employed, as well as any additional work history, we might be able to find any relevant information about the business. So are they in a an industry that is doing particularly well? Right now we’re perhaps not doing well and still recovering. Ah, we can find all the information i mentioned earlier about any stocks that they may own as a corporate insider, so that would not be any private stocks that they owned, but only those as corporate insider. We would be able to find out if they have made some major gifts to other organizations, and that information has been released publicly where they went to school on dh. Interestingly enough, sometimes the pieces of the puzzle regarding spouses and children could be a little bit more difficult to find on that’s, where you might want to rely on internal sources, such as your board of directors and volunteers to help flesh out those pieces of the puzzle a little bit for you, some of your research could be done by people write who are friendly with them, maybe staff who have met them. Yeah, absolutely. And, you know that that’s really important and any relationship that has been already developed by your fundraiser by your staff by other volunteers is extremely important. For example, they might know about how many children somebody has and the ages of those children. And if you have self couple of children in college and another one about to enter college, you’re pretty assured that a major gift is not going to be forthcoming in the next few years. So you might want to keep that person and more of a cultivation phase a little bit longer. Friends are likely to know what other organizations they might exactly on the bordeaux. Forgive teo. Maybe what clubs they belong to if it’s someone of wealth, right? Right? Yeah. And you might not find that looking. You know, looking in public resource is so please don’t discount those internal sources of information that are could be really valuable. And filling in some of the holes in your profile that you’re not able to find. Several weeks ago, i blogged about the value of the the face-to-face meeting, i like to do donor-centric dinner and just having a conversation with someone for an hour, hour and a half over a meal, you’ll find out a wealth of information was right that’s, right? And, you know, the fundraiser or the volunteer that is having that type of a conversation with a donor prospect, it’s it’s really imperative that that information flow back to the nonprofit organization? Hopefully you have some sort of good donorsearch oft where that is able to capture this information so that you’re able to make these types of notations regarding date of the meetings, what was discussed? S o if you happen to be raising money for a hospital, for instance, does this person have more of an interest in pediatric care, cardiac care, where you know what came through in the conversation that is extremely, extremely important, very critical, and i do find some organizations that don’t have that mechanism for feeding it back, and then it just resides in the person’s head who works. For the organization, and if they’re not around the next time the donor it has to be called or the next major event that the donor comes to or if they leave the organization go to a different job, that corporate knowledge is lost, it has to be fed by, right? And by the same token, tony, there are an awful lot of organizations that have founders of the organization that are still in place, and they have that longevity and like you said, all that information in their head and it’s really important to try and make sure that that information is imparted to somebody well on staff at the non-profit that can really filter that information because, you know, we you know, we could be gone tomorrow, so you know, it’s really important that the non-profit be able to continue their good work. I’m joined by maria semple, principal of the prospect finder her website is the prospect finder dot com, and we’re talking about going beyond google gourmet prospect research on a goulash budget and maria’s sharing terrific, valuable suggestions about doing prospect research for your donors and maybe even finding additional donors people who are not currently close to your organization, maria, what prompted that block post that i mentioned several weeks ago was a wall street journal article. It was on may sixteenth that was called titled is your favorite charity spying on you? And it was a little critical of of the prospect research that we’re talking about. Is this spying well? No, no, no, we’re not at all spying. What we’re trying to do is really garner the information that is going to enable us to develop the best possible relationship with someone. So if you approach this as a business meeting and this is really what it is, this is business. Ah, and also the fact that this individual that you would be approaching for a gift is making an investment in your organization. So it really makes sense to know as much as possible about the individual where their interests lie and see if there really is a match going forward to see if the conversation should take place so thiss type of corporate intelligence, if you will, is going on in the for-profit world market research, etcetera, and we’re just using the information in a way that will enable us. To develop meaningful relationships. You essentially then preparing for a business meeting. Exactly. Exactly. And in fact, if you walk into a meeting with a donor prospect and you haven’t adequately prepared it may it may come through to the person you’re meeting with. And and then you look, you look awkward by the same token, you don’t you don’t want to be so forthcoming with all the information that you know, because that could that could be awkward too, if you start spewing facts about the purse, right? Yes. So, i mean, you really wouldn’t want to say, well, my research has revealed that, you know, you own two homes and they’re valued at x y and z. So you know, the information is there to prepare you to prep you for the meeting, but not that you should start quoting off the information. So you using it on background background, right? Exactly. You want to be prepared? Yeah. And if you were going in to have ah, job interview with it with a corporation, wouldn’t you be doing as much background information research as you can on the company to make you sound like you know what you’re talking about and that there is a match for you to be employed by the organization. So it’s it’s a bit of the same mind frame you might even be reviewing the history of the of the interviewer and that’s akin to what we’re talking about. Right, exactly, marie, our time has come to an end. I want to thank you very much for coming to the studio. My guest has been maria simple, the prospect. Find her, you’ll find her at the prospect finder dot com. She has the resource center in her website and also, as i said on my block on the media tab, you’ll find going beyond google, which is very good advice seven or eight pages of advice from maria simple. The prospect finder. After this break, i’ll be joined by kathleen rittereiser. We’re going to be talking about everlasting endowment techniques to keep your endowment safe and invested, right? I’m tony martignetti, the host of tony martignetti non-profit radio. Please stay with us. Talking alternative radio twenty four hours a day. Hi, i’m new york state senator joe a dabo. I will be hosting a Job fair on friday, november 12 at aqueduct racetrack in queens, contending into three p m we will have over one hundred companies looking for qualified workers. They’re all to be lectures on job strategies and networking. So come and bring plenty of resumes and join me on friday, november twelfth at aqueduct racetrack for a Job fair from 10 a m to three p m. For more information, please call pete in my district office at seven one eight seven three eight one one one one bonem 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. 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, this is tony martignetti non-profit radio it’s time for tony’s, take two and what’s concerning me this week is the internal revenue service saying that ah, good number of non-profits may have their non profit status revoked shortly, quoting from their website and and a press release small nonprofit organizations at risk of losing their tax exempt status because they failed to fire a ll file required returns for two thousand seven, two thousand eight and two thousand nine can preserve their status by filing returns by october fifteenth, two thousand ten, under one time relief program. This all came about from the the philanthropy protection act of two thousand six. By the way, if you’re not interested in the history of what this all comes from, what you turn the volume down, i guess, and i’ll just wave my arms and you’ll know when it’s time to turn the volume back-up if you’re interested in history, it comes from the philanthropy protection act of two thousand six that was there was a lot of good provisions, including direct ira gift to charities for people over over seventy and a half, but one of the sort of hidden. Provision was that if a if a non-profit did not file it’s required form nine ninety easy for three consecutive years that it was going to lose its tax exempt status because the presumption was there, not inactive business and what’s happened is a lot of very viable and alive non-profits air getting caught up in this on my blogged at m p g a d v dot com i do have an irs widget that you can click on and read the list of non-profits that are at risk to see if yours is among them, or if an organization that you know is among them. You have until october fifteenth. That’s just two weeks to take advantage of the irs is one time relief program. I’m joined now by kathleen rittereiser kathleen is co author of foundation and endowment investing, and we’re going to be talking about managing your endowment. Teo, get the most from it and keep it most safes. Kathleen, i want to welcome you to the studio. Thanks, but to be here. What did you do to research this book? Foundation and endowment investing. How did you go about finding out what big non-profit organizations are doing with their endowments. Well, the first thing that i did was i teamed with the co author larry coe shard, who is the chief investment officer of georgetown university, and if the book came about because it was larry’s idea when he took over as the chief investment officer at georgetown, he was looking to learn from other successful chief investment officers about how best to manage an endowment in a more complex acid and by asset allocation environment. So he had the idea because there was no such book came to me because i was calling on foundations and endowments as an asset management sales person. So the two of us teamed up, and what we did was we researched who are some of the most successful institutions and investors in the foundation and endowment community. And then what we did was approached them and asked them to be in the book. So the book is actually profiles of leading chief investment officers. Each you tell their story, share their strategies and give advice for how to manage large endowment portfolios. We also include some history and some basic ideas about how to go about managing endowment. Portfolio, in other words, like, what are the things the basic things to dio if you are the chief investment officer or overseeing an endowment foundation type portfolio? And when i first brought kathleen on, i was stumbling through some papers to find the bio that i wanted to have in front of me when she came on, so i’m going to share that with you. Now the full title of her book, co authored with larry coe shard is foundation and endowment investing philosophies and strategies of top investors and institutions, and the two of them also have a second book, more current top hedge fund investors, stories, strategies and advice. Both books are available at amazon dot com also want to share with you that kathleen is a director of investor relations with concordia advisors and that’s in new york city based hedge fund. She has over twenty years experience in sales, marketing and relationship management roles with leading asset management, research and brokerage firms, which she was just saying, and i apologize that i didn’t have the paper in front of me, but i wanted to move us along rather than be stumbling along what types of organizations did the people who you and your co author interviewed work for the majority? It was basically split half endowments is a large university endowments and also some large foundation. So thie institutions included the hewlett foundation notre dame investor, which was is led by a woman named alice handy, who used to run the university of virginia endowment. Mitt is representative george washington university, the kaiser foundation and morgan creek capital management. And the idea was to really kind of showcase well known, well regarded chief investment officers in who worked in a variety of different types of non-profit institutions we also showcase, i mentioned mark yusko from morgan creek capital management. We also showcase the kind of burgeoning trend in foundation and endowment management, which is outsourced ceo. So that’s, what investor is and so it’s morgan creek capital management, and in a few minutes, we’re going to talk about the outsource ceo chief investment officer trend that you see, but let’s start with some of the lessons that small and midsize non-profits could take away from what you learned from these very big endowment managers. Absolutely, i think the most important lesson from all of these foundations and endowments and it’s true about any endowment portfolio is that the long term perpetual time horizon allows thie investment manager or the person overseeing the portfolio to take a long term investment perspective and to have a more value orientation, meaning that they can often make investment decisions relatively early on by things at very cheap prices and hold them for a long period of time. So it’s actually it’s it’s actually a an approach that’s, kind of a longer term buy-in hold approach. The other thing that’s important is the quality of the governance and the fiduciary oversight of the portfolios that most all of the institutions that we spoke teo, there is a chief investment officer who has full responsibility for the portfolio in making decisions, and the boards and the governors are really just for oversight and getting involved in asset allocation. So and the other lesson, which is really kind of a trend that started many years ago in the foundation and endowment community and it’s. Still continuing with these long term portfolios is the idea that if you can take a long term approach, you can invest in less liquid types of securities. Which led teo, many of them being successful by making investments in alternative investment portfolios such as venture capital, private equity and hedge funds. Now our audience is small and midsize non-profits so some of this back-up i want them to be ableto benefit from and i know in terms of quality of the oversight and transparency that’s where i think we’ll get into the sort of outsourced ceo movement because i think the majority of our audience probably doesn’t even have a chief investment officer. They probably do have a financial officer, but not an investment officer, right? This lets a little more about this. The long term view. I hear that all the time in, in terms of personal investing, your time horizon. What is there a recommended time horizon for investing endowment? Well, i think one of the well known endowment ceos who’s written about this subject is david swenson from yale. So he he looks at it as forever. So that’s, you know, officially perpetual is forever. Realistically, most endowments, i think, need to look more like ten to fifteen years out rather than one to two. Now many foundations in particular, i know, have different. Types of liquidity constraints because for the most part, they need thio spend five percent of the endowments value every year, so they have different kind of liquidity considerations. But if this is a large pool of capital, even a good size pool of capital, it makes sense to be able to put some assets in your allocation, which have a longer term horizon for paying off. So that’s kind of where something like a long term real estate investment or venture capital or a hedge fund that might have be investing in distressed assets or something that has a longer term time horizon for when the payoff will happen, will allow the endowment, the foundation to be able to hold on to the principal and preserve that principle for the life of their organization, but then also get the income that they need thio manage operations or give grants during during the shorter time periods. What this does lead into is the idea, which i think was one of the key investment ideas or the investment thoughts that come out of talking to foundation in and damn achieve investment officers and is also supported by research in the industry. Is the idea that asset allocation is really important, so whether you have a five million dollar endowment or you have a five hundred million dollar endowment, how you decide to allocate your assets is very important in how it relates to the mission of your organization and what your organ it organizations needs are. But asset allocation remains the key way tio earn returns overtime. My guest is kathleen rittereiser, co author of foundation and endowment investing, and we’re talking about everlasting endowment keeping your endowment lasting for forever for your organization’s life. But, kathleen, what can non-profits with maybe a five or six figure endowment do in terms of long term investing? I think i think an organization like that a lot of it depends on the finish of the governance, as i mentioned earlier, do they have a committee that is involved? If not, i mean, i think this does lead into the question of outsourcing and one of the trends that we identified and we spoke to some of the people that run outsource ceo organisations, is this idea of really just taking the portfolio and turning it over to an outside manager full time? Because what they do is they pull assets with a lot of other foundations and endowments, so you get a an economies of scale that is that’s really related more toward being able to pull your assets with other organisations, to make the outsource cia a more substantial investor in alternative portfolios, and allows you to get the benefit of really professional asset management experience, especially with that specialty and foundations and endowments. And i think that’s the that’s probably the key thought is that there is there’s a lot of expertise, and these portfolios are very complicated to manage as it relates to an alternative. So that would be why i would suggest that if you are a smaller size, the best way to approach it is to work with some kind of outsourced ceo organization, and they’ll take funds that air just in the five or low six figures, a seventy five thousand dollar endowment. It depends. Probably a seventy five thousand dollars in damn, it would be would be it would be difficult, however, i believe that there’s more and more new types of products coming onto the market. So there’s a lot of different models buy-in investor which i mentioned earlier, is kind of is a custom model. Morgan creek has a fun that’s available through the merrill lynch platform, and there are a number of other types of organizations that are offering mohr like a fund-raising khun, just invest in a fund rather than hyre and outsource ceo so there’s there’s a lot of different models that are coming to the forefront and a lot of larger asset management organizations. T a cref recently entered this market, so i think that that will be an option that’s going to be available for even the smallest size endowments, and it certainly sounds like it is now available if an organization has maybe seven hundred fifty thousand dollars or a million and a half dollars, and even in those low six figures, definitely right? Absolutely, yes, absolutely. And they’re not going to wantto put, i would think the whole endowment with outsourced chief investment officer, would they? Actually, they will. I mean, some of the largest one of the largest outsourced situations is a company called perella weinberg. And they recently took in the entire university of colorado endowment, which is eight hundred million dollars what they did. Then was they teamed up. They took the ceo as well. So the university of colorado chief investment officer went over and rant it’s now running the perella weinberg portfolio. But that’s that’s probably the biggest move that’s been made so and they will, an organization that doesn’t have the resource is or the time or the expertise to be running the endowment themselves or and they usually have a smaller endowment will actually make the decision toe outsource the whole portfolio. They’ll have oversight and governance and be able to be making asset allocation decisions and decisions related to how the endowment is used for their mission. But they will actually hire someone to run the whole portfolio for them. We only have about thirty seconds before the break. What about the resistance that this is ego? The board is now giving up authority? I’m not sure that i have thirty seconds. I think that’s a thirty minute answer it’s definitely an issue and one, that one that i would say that my my motto now is there is no d i y in fiduciary and that fiduciaries need to start to learn i think a little bit more. How the world of investments is changing and to start to think about what is really the right fiduciary decision to make and it’s not my ego, but it’s. What is right for this institution? We’re going to take a break. My guest is kathleen rittereiser, co author of foundation and endowment investing. I hope you’ll stay with us. Co-branding think dick tooting getting dink, dink, dink, dink. You’re listening to the talking alternative network duitz waiting to get into thinking. Thank you, cubine. 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. Whillans is lack of capital or credit keeping you up at night? The show me. The money conference is coming to the roosevelt hotel, forty five east forty fifth street in manhattan on november third. This’s the best business networking opportunity to meet potential investors and lenders, and get answers from our expert panel of business and financial advisors. For more information, call six four six six one nine eight zero nine. One are online at rose otto accounting that’s r o s a d o accounting, dot, com slash show me the money. Hyre this is tony martignetti athlete named host of tony martignetti non-profit radio. Big non-profit ideas for the other ninety five percent. Technology fund-raising compliance. Social media, small and medium non-profits have needs in all these areas. My guests are expert in all these areas and mohr. Tony martignetti non-profit radio friday’s one to two eastern on talking alternative broadcasting. You’re listening to the talking alternative network. Geever like the voice on that last commercial very, very soothing, sort of mellow voice. I hope you’re enjoying it, too. I’m joined by kathleen rittereiser she’s, the co author of foundation and endowment investing. Kathleen, if people have questions, i’d like to follow-up how could they get in touch with you? I have a website, which is kathleen rittereiser dot com, and my email address is kathleen with the c c a t h l e n at kathleen writ tom that’s c a t h l e n r dot com thank you, and you’ll of course find her name on my my block, where the guests are all listed. That’s m p g a d v dot com you can also see her name on the facebook page for the show, and i’ll tell you that her last name is spelled r i t t e r e i s e r kathleen rittereiser ands kathleen with the sea before the breakout thing we’re talking about this outsource chief investment officer trend and how small and midsize non-profits khun take advantage of it? What about the due diligence? What should’ve non-profit be looking at when there what should the process be for hiring the right outsource ceo? Well, it’s, interesting, because i think a lot of smaller foundations and endowments get in, as we were talking about earlier, that investment committee gets excited about picking managers and often, but we’ve seen that they don’t have the right experience to be picking individual manager, so picking an equity manager or bond manager where and the process is actually quite similar except what you’re doing is making a decision that’s more of a one time, longer lasting decision. So there is some extra pressure in that case, however, i mean that’s pretty much doing the kind of research like coming tio my website or even, you know, sending meet so, you know, doing research on the internet, there is a block called endowment investor that writes about endowment issues. I write about these issues, and i’ve spoken about them, so it is working it’s kind of doing sametz initial legwork to look at the models on dh think about what’s the size of my endowment. What what are we comfortable with in terms of giving up the level of authority? Some organizations have made the decision that they’re willing to turn over the whole portfolio, others might go somewhat piecemeal into it. Organizations that are working with consultants as such as cambridge may decide the work with their consultant organization to get referrals or also to transition into a more outsourced type of model. So, you know, obviously the first part is research and and i’ll admit that because this is kind of a newer type of investment approach, there are fewer let’s, say, syndicated sources of information about this but it’s becoming more and more prevalent. So even a google search on outsource cia well, i think lead you to some good resource is and again there’s information available on my website and even contacting me directly, i’m happy to help people with this also, i would say that the next phase is really due diligence like you would do with the manager thinking about what your organization’s needs are what who were the people that you want to be working with? What’s their business model inter? Are they a single fund? Are they doing something custom and then and then spending time with these investors? Tto learn about their process and how they’re going to work with you. So i think it’s ah, it’s a can be a longer term process, you know, it’s not a decision that you should make over the course of a quarter. I would say that if you’re really seriously taking turning over your whole endowment to an organization that it probably should take at least six months to a year from start to finish, to be making that kind of going through the process and making that kind of decision, what about the oversight we have just about a minute left once once a now outsource ceo is hired, where’s what’s the board’s responsibility, and they still are fiduciaries to the organization what’s the oversight of the outsourced the board is still is still the fiduciary, and basically the same kind of the oversight is the same oversight that they would be responsible for if they had a ceo or if they had a number of managers that were reporting to a committee member. I think what happens is when and what i’ve heard from organizations that have made the transition so far, the oversight is actually much more productive in hyre level variation of oversight, in other words, they’re involved in strategic issues of the institution and ask that allocation issues rather than nitty gritty, so it’s basically that the oversight is brought up a level in terms of its strategic import for the foundation or endowment. My guest has been kathleen rittereiser she’s, the co author of foundation and endowment investing, which you can find at amazon dot com her website is kathleen writ dot com that’s kathleen with c and r t dot com kathleen one thank you very much for coming to the studio today. Thanks for having me. It has been my pleasure. Next week we’re going to be talking back off his blunders. Stop squandering money on your back office costs tricks to save big on supplies, office supplies phone, energy, healthcare my guest will be jeff marston he’s, the president of resource centers for management and also your five minute program super streamlined events that keep your audiences informed, engaged and awake and that’s going to be a return guest. Claire meyerhoff those air both next week you can get insider alerts about the show, and you can get them at the facebook page at facebook dot com it’s tony martignetti non-profit radio you can also, see what my live appearances are on that facebook page. My block is m p g a d v dot com, and you can see where i’m appearing there and see what thoughts are coming a cross my desk, and maybe you’ll get some insight into what’s coming up at tony’s, take two for next week. I want to thank the creative producer of tony martignetti non-profit radio that is claire meyerhoff, our line producer and the owner of talking alternative broadcasting. His sam liebowitz on our facebook is done by regina walton of organic social media want thank you very much for joining me this week has been tony martignetti non-profit radio. We’re always talking big non-profit ideas for the other ninety five percent. Join me next friday at one p m eastern, right here at talking alternative dot com. Dahna you’re listening to the talking alternative network, waiting to get a drink. Nothing. You could. I really need to take better care of myself if only i had someone to help me with my lifestyle. I feel like giving up dahna is this you mind over matter, health and fitness can help. If you’re expecting an epiphany, chances are it’s not happening. Mind over matter, health and fitness could help you get back on track or start a new life and fitness. 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