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July 2017

Planned Giving: An Option To Consider

For charities and nonprofits, finding and maintaining sources of funding can be the most difficult and time-consuming task of all. Charities that rely on contributions worry about how they can diversify their sources of funding, while keeping existing donors engaged so they don’t lose them. This constant search for money and donor maintenance can be exhausting. 
Many organizations ignore planned giving because they believe it is too complicated.  But, this is not really the case.  While planned giving is a different type of giving, it provides new opportunities for charities, especially as the population ages and considers options for transferring wealth.  In fact, many donors who could benefit from this tool are simply unaware of planned giving options.  Charities can provide a mutually beneficial service by speaking with their donors about planned giving.  Read the full article.
If the previous article has sparked your interest, this piece discusses steps to take in starting a planned giving program. 

8 Tips to Determine Your Not-for-Profit’s Year-End

Not-for-profits have a luxury that most other individuals and businesses do not. They’re allowed to select their fiscal year-ends for IRS purposes. Partnerships, sole proprietorships, S corporations and other legal structures, with limited exceptions, may not. These groups generally are required to use calendar year-ends for tax filings. 
By default, many not-for-profits are organized with a calendar year-end, but not-for-profits should assess if this is the best choice. A thoughtfully chosen year-end may produce more meaningful financial statements, ease reporting requirements and even save the organization money.  Read on to find out what a not-for-profit should consider when choosing a year-end date.
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