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Clarity Trumps Volume in Leading Teams to the Next Level

What do you do when your GPS takes a vacation and fails to function on a multi-state business trip? Hmm, I guess you pull out a map. That’s what I did recently but the map was insufficient in many ways. This experience reminded me of those large, multifold travel maps I used to use in pre-GPS days. Those were frustrating as well. Let’s see…what part of the map do I look at? Which ramp do I take? The map often ended up in the back seat - never to be unfolded again.

I thought of the complex map when evaluating a lengthy strategic plan featuring one dozen pages and thirty-seven pieces of content. Although one leader could explain the details, the rest of the team seemed overwhelmed by the document. Too often strategic plans miss the human element. How refreshing to work with teams that major on simplicity with the goal of clarity for all responsible for execution.

Using the map analogy again, this is like getting directions from Mapquest. You enter your starting point and destination and get step-by-step driving directions with a highlighted map showing me exactly where to go. Easy to understand. The bulky travel map may be as accurate as mapquest but only one gives me clear and specific guidance as to how to get to my destination without an overload of data.

I like what Roy Williams, The Wizard of Ads recommends to leaders in regards to proper planning. Williams stresses planning based on specific action steps, summarized with three key questions:

1. What are you trying to make happen?
2. How will you measure success?
3. What’s the first thing you need to do to get started?

How are you simplifying your plans for the coming year?

Advancing The Vision by Mark Kordic
Mark Kordic is an energetic development strategist and executer, specializing in working with Christian radio stations and educational ministries ready to advance to the next level in service and impact. If you recognize the need to intentionally draw key donors and prospects into meaningful participation with your radio station, this blog is for you. Useful, real-world information and advice for development professionals, station leadership and Board members alike. Help is on the way! http://feeds.feedburner.com/AdvancingTheVisionByMarkKordic

Technorati : Christian, Radio, advancing the vision, development, nonprofit

Topics: Fundraising, Nonprofit Resources | No Comments »

From a New Yok Life article:

Charitable gift annuities are increasingly appealing to people seeking additional income, typically in retirement, and who are also philanthropic minded. In a charitable gift annuity arrangement, the donor makes a lump sum contribution to the charity and, in return, receives income for life and a charitable deduction. While nonprofit organizations see charitable gift annuity programs as a growing source of funds for their humanitarian pursuits, they present financial risks to charities that offer them. When the stock market was delivering double-digit returns and interest rates were higher, the investments supporting gift annuity programs provided solid financial returns to organizations. Today, in one of the tougher investment and fundraising climates on record, nonprofit organizations may want to reconsider how their charitable gift annuity programs are managed.

New York Life a market leader in income annuities, also known as single premium immediate annuities, is offering nonprofits a way to strengthen their gift annuity programs through an arrangement that effectively transfers the complex investment and longevity risks to the Triple-A insurer. The charity uses a portion of the donor’s gift to purchase an income annuity to help fulfill the charity’s payment obligations to the donor, commonly know as “reinsurance”. In addition to passing along these risks, reinsurance can enhance the organization’s cash flow, more critical than ever in this economic climate. Charities can put donor funds to work immediately, since they have immediate access³ to the difference between the cost of reinsurance and the amount of the donation. If the charity does not need additional funds right away, the freed up funds can be invested without concern about the payment obligation to the donor.

In a reinsurance arrangement, a nonprofit organization purchases a single premium immediate annuity from New York Life that provides income that matches the charity’s obligation to its donor. New York Life assumes the investment risk underlying the gift annuity, eliminating the possibility that a charity’s investments cannot support the gift annuity payments.

I think this offers a great opportunity for organizations to consider. John Steinbach is putting on a presentation titled “Life Insurance for Charitable Giving & Reinsurance for Gift Annuity Programs”. He has the regional director from New York Life as part of the conversation, which is a rare opportunity. The uniqueness of this program is there is a way for Nonprofits to receive a portion of these monies in the short term and for NYL to carry the paper. Not a bad option for a lot of Nonprofits and Churches considering the state of the economy. I would encourage you to read more about it http://www.johnsteinbach.nylagents.com/seminars.cfm.” There will be a presentation in Indianapolis in late July. The one in Fort Wayne is on June 23rd.

Technorati : annuities, charity, fort-wayne, fundraising, reinsurance

Topics: Events, Fort Wayne, Fundraising | No Comments »

With reinsurance, nonprofits are also able to transfer longevity risk to the insurer, eliminating the risk that the donated assets will be diminished due to donors living past their life expectancy.

From a New York Life article:

“Charities are in a bit of a bind today with declining assets due to the collapse of the stock market, donors living longer, and donations that are likely to be declining, all at a time when the need for their charitable programs is rising, said Bob Rock, senior vice president, New York Life. “Rather than cutting back on programs or staff, reinsuring gift annuities can provide funds today that may match or exceed what charities would have been able to achieve during more favorable times.” Rock added, “Organizations that choose to reinsure some or all of their gift annuities with New York Life are leveraging one of the strongest and most diversified investment portfolios in the life insurance industry, while allowing themselves to focus on their core mission.”

“With demand for lifetime income annuities at a record high, there is a strong case to be made for charitable gift annuity programs to be backed by a top rated insurer like New York Life,” continued Rock. “In fact, New York Life saw its overall sales of income annuities increase 55% to $1.2 billion in 2008 as consumers have become more and more concerned about outliving their retirement savings and are seeking guaranteed sources of income. Additionally there is a very good fit with our interest in helping charities and our core company values of financial strength, integrity and humanity.”

A connection of mine, John Steinbach is putting on a presentation titled “Life Insurance for Charitable Giving & Reinsurance for Gift Annuity Programs”. He has the regional director from New York Life as part of the conversation, which is a rare opportunity. The uniqueness of this program is there is a way for Nonprofits to receive a portion of these monies in the short term and for NYL to carry the paper. Not a bad option for a lot of Nonprofits and Churches considering the state of the economy. In my layman terms, technically they will use different words. Ask John! I would encourage you to read more about it http://www.johnsteinbach.nylagents.com/seminars.cfm. There will be a presentation in Indianapolis in late July. The one in Fort Wayne is on June 23rd.

Technorati : Annuities, Charities, Fort Wayne, Indianapolis, re-insurance

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A friend of mine is hosting this event and I think it offers some great opportunities for nonprofits for future and immediate funding. You will be able to learn how non-profits can significantly increase giving through the use of life insurance and charitable gift annuities. Topics will include:

* Multiplying donated dollars through life insurance
* Structuring life insurance to generate ongoing funds for a non-profit
* Tax consequences of a life insurance donation
* Options for ownership of life insurance
* Starting a charitable gift annuity program
* Determining rates for a charitable gift annuity
* Generating current non-profit income from charitable gift
* Reducing the risk of gift annuities through reinsurance

If you would like more information on the event, here is the resource link.

Technorati : Annuity, Charitable Giving, Fort Wayne, Fundraising, Gifts, Workshop

Topics: Events, Nonprofit Resources | No Comments »

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