The Statue of Liberty, a gift of friendship from France to the United States, arrived in New York Harbor on June 17, 1885. Shipped across the Atlantic in more than 200 crates, the 350 individual copper and iron pieces of the dismantled Lady Liberty would—collectively—become a world-renowned, enduring symbol of freedom and democracy. The statue, meant to commemorate the American Revolution and a century of camaraderie between France and the U.S., was designed by French sculptor Frederic-August Bartholdi with the assistance of Gustave Eiffel (the man who would later develop the iconic tower in Paris that would bear his name). The statue, which cost France approximately $250,000 (more than $5.5 million today), was completed in Paris in the summer of 1884 and then taken apart for shipment to the States. After her reassembly, the robed, female figure holding a torch in an uplifted arm was officially dedicated On October 28, 1886 during a ceremony presided over by President Cleveland. At the time of her dedication, the Statue of Liberty was taller than any structure in New York City. During the time Ellis Island served as America’s chief immigration station, Lady Liberty stood watch over the more than 12 million immigrants sailing into New York Harbor. Today she remains a symbol of America’s proud history as the land of opportunity. And now that you’re well-versed in your trivia of one of America’s most famous landmarks, check out these five nonprofit headlines from the news this week.

1.  "Culture of Philanthropy"

Building a “culture of philanthropy” within a nonprofit is to integrate all aspects of the organization. Instead of isolating grant writers, each person within the organization—from the receptionist to individual board members—plays a vital role in the philanthropic life of the nonprofit. According to Nonprofit Quarterly, fundraising should not be seen as a necessary evil, but should act as only a part of an organization’s philanthropic culture and fund development plan. Grant-writing goals should be integrated with fundraising goals and should be based on reasonable and well-researched data. How is your organization’s “culture of philanthropy? Click on the link above to discover why resourcing your mission is as important as ensuring good strategy.

2.  Four Common Mistakes Made by New Nonprofits

Much like starting any for-profit business, establishing a nonprofit organization has many challenges—challenges that extend beyond securing tax-exempt status. Unfortunately, there are far fewer resources for nonprofit entrepreneurs than their for-profit counterparts. That said, when it comes to formation and the first few years of navigation, emerging nonprofits are more likely to make mistakes that cost them in the long run. Is your nonprofit in its infancy? Learn to differentiate between growing pains and potential deep-seated issues. Check out the link above from Forbes for four common mistakes made by newly established nonprofits and how to avoid them.

3.  Creating a Nonprofit Exit Checklist

Nonprofit leaders often talk about designing exit strategies, but few organizations are able to successfully phase out their work in a way that provides sustainability to the communities they are leaving. More often than not, nonprofit program exits arise from implausible timelines and scarcity of funds—rather than results. According to Stanford Social Innovation Review, nonprofits must rethink how they design and implement exit strategies. Instead of focusing on money spent and timelines, organizations should place an emphasis on sustainability and impact. Through simple and flexible checklists—used in transparent and consistent ways—nonprofits can depart from projects all while minimizing mistakes and maximizing impact. Need to rethink your program exit strategies? Follow the link above to discover how to create a nonprofit exit checklist.

4.  Experiments in Fundraising

whether big or small, world-renowned and local organizations alike find fundraising is arguably the biggest challenge for in the entirety of the nonprofit sector. With thousands of nonprofit organizations tottering on the edge of stagnation or collapse, far too many noble ideas for solving social problems are falling through the cracks or are unable to be applied at the scale they deserve. While traditional advice suggests that diversification of funding sources is the key to meeting fundraising goals, there may not be a one-size-fits-all strategy for success. According to the Harvard Business Review, new generations of social innovators are demonstrating that experimentation may be the best way to mollify risk with regards to developing funding streams. If conventional formulaic diversification isn’t working for your organization, check out the link above to read more.

5.  Social Impact Company? Start Here

In the business world, it should be acknowledged that the phrase “doing good” is open for interpretation. Newly-formed entities on the hunt for funding as well as established entities pressed for resources may take on the guise of socially conscious start-ups as a means to appeal to both investors and customers. But they do not always live up to their promises. This disparity between actions and words can have a profoundly negative impact on the idea that business can be a force for good. So, what should you do if your company genuinely values social impact? Click on the link above from Entrepreneur to learn how to balance the goals of for-profit work with those of community-oriented resources.

That’s it for this week’s Friday Five! We’re thankful for the gift of Lady Liberty and all she has come to represent. See you next week!

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