COVID-19 has financially impacted the nonprofit sector, and many do not know if they will survive the crisis. Charities Aid Foundation of America surveyed nearly 550 nonprofits in 93 countries in March 2020, and 96.5 percent of respondents reported negative impacts related to the virus.
Multiple studies show that complex changes in year-end charitable giving behaviors in the United States affected nonprofits during the 2018 giving season. While it remains to be seen what year-end donations to nonprofits will look like in 2019, Harris Financial Advisors (“HFA”) continues to work closely with nonprofit leaders and investment committee members as this year’s giving season approaches.
For more than two decades, Harris Financial Advisors has demonstrated its commitment to the fiscal well-being and overall success of our nonprofit clients. We specialize in aligning investment strategy with philanthropic missions, supporting leaders in creating dynamic organizations, and providing resources and perspectives to maximize overall charitable impact.
An endowment is a hallmark of financial longevity and an important component of any nonprofit’s long-term strategy. It allows nonprofit board members, administrators and donors to build a reserve fund to further their organization’s mission and complement sometimes irregular annual gifts and donations.
Cash is the lifeblood of every organization, but for a nonprofit, this vital resource goes beyond the bottom-line. A lack of cash can interfere with an organization’s ability to achieve a social mission or deliver services to those in need. The weight of this responsibility falls to nonprofit leaders and boards and is challenging for many.