Three days ‘til Halloween! Are you excited? We are—we’ve cared our pumpkins, we’re finishing our costumes and are stocking up on candy. We have also stocked up on articles about nonprofit organizations. Here are five reads from the world of nonprofits that will keep you on the edge of your seats:
1) Nonprofit Quarterly highlights some crackerjack reporting from The Omaha World-Herald on Goodwill Omaha and its CEO Frank McGill’s annual salary. Hold on to your notebooks: it was $933,444—far above with what CEOs of similar nonprofits in the area make. Add to Mr. McGill’s inflated salary the fact that Goodwill Omaha reportedly pays its disabled workers a sub-minimum wage, and you’ll understand why Douglas County Board of County Commissioners are looking into whether to revoke the nonprofit’s property tax break. Get the hair-raising details here:
2) Bridgespan, a consulting firm for nonprofits and philanthropists, has been conducting an investigation into how to increase the number of donors making “big bets” (defined as a gift of more than $10 million to change a social issue), and how to increase the effectiveness of big bets themselves. Fast Company has a rundown on Bridgespan’s findings; one of the issues holding philanthropists back is an “aspiration gap”; several philanthropists say they want to donate large sums, but rarely end up following through. Find out what else is scaring away donors from making big bets:
3) Both the Clinton Foundation and the Trump Foundation have been in the news recently, and there have been controversies surrounding both, but as National Public Radio reports, that is where the comparison ends—one of them is a legitimate charity which receives very high marks from CharityWatch and Charity Navigator, while the other charity… does not. NPR lays down the chilling compare-and-contrast here:
4)Thinking of forming a 501(c)(4)? Be aware that new legislation has taken effect which requires 501(c)(4) organizations to notify the IRS of their intent to operate as a 501(c)(4). The IRS has created Form 8976 for these purposes. Also worth noting: 501(c)(4) organizations must file Form 8976 within sixty days of their formation. Here’s the link so those forming 501(c)(4)s can avoid any frightening encounters with the IRS:
5) Did you know that the dining hall workers at Harvard University were on strike? They were, but have just come to an agreement with Harvard, thus bringing the strike to an end. The strike has raised questions about university endowments. As The Atlantic notes, Harvard has the largest endowment of any university in the nation, but workers were making less than $35,000 a year and paying as much as $4,000 annually for out-of-pocket health care expenses. Public pressure and support from Harvard students helped bring about a resolution to the strike. Find out how:
That’s it for the Friday Five. We have found and carved the perfect pumpkin, drunk our pumpkin spice latte and eaten way too many pumpkin-flavored foods. Now it’s time to The Great Pumpkin would be pleased. Happy Halloween!