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Catalogue Financial Workshops

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We are officially half way through the application window for the 2013 Catalogue for Philanthropy! Over the past few weeks, the Catalogue has partnered with the accounting firm (and Catalogue supporter) Raffa to offer financial workshops on the financial supplement part of our application. The workshops covered the details of the financial supplement and offered suggestions on how to best present financial information, especially for small nonprofits with unique financial pictures. Representatives from over 100 nonprofits attended the workshops, held on January 29th and February 6th, and took away helpful tips on issues ranging from reporting on in-kind donations and services, allocating costs between fundraising and programming, and correctly calculating administrative costs.

The Catalogue for Philanthropy’s review process differs from many other reviews through watchdog sites and others, in that we consider a nuanced view of each application, in both the programmatic and financial review. As Tom Raffa, CEO of Raffa and Catalogue Board Member, pointed out during the workshops, our review is meant to not only select “some of the best” small nonprofits in DC, but also help those still growing to become stronger and more sustainable through our feedback. We encourage all applicants to include additional information when appropriate to explain “red flags” — high ratios of G&A, fundraising, or salaries to total expenses, or a high percentage of revenue coming from government grants.

Even if you missed the workshop, the Catalogue’s APPLY website includes plenty of information about the financial (and narrative) application — and feel free to reach out to us (info@cfp-dc.org) with questions. Remember, applications are due on Monday, February 25th…and we can still use your help in spreading the word!

In The News …

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3 Key Elements of Capitalist Philanthropy (Forbes): “Capitalist philanthropy begins with a profitable organization and then moves quickly to incorporate social impact [...] The term is not brand new, but is being discussed more often as the millennial generation has developed a strong desire for meaningful work.” Forbes offers three keys to incorporating “capitalist philanthropy” into an organization: “Determine your cause,” “cast the vision,” and “maintain momentum.” What are your suggestions for launching social impact projects? Thoughts on the terminology?

How Small Nonprofits Can Improve Their Fiscal Health (Chronicle of Philanthropy): “Three-quarters of American nonprofits have annual budgets under $1 million, and most are even smaller. What these organizations lack in size, however, they make up for in impact.” Many such nonprofits also “struggle with financial challenges that are unique to their size and structure [...] resources generally go directly into program delivery, so they can’t invest in infrastructure”. The Chronicle offers five suggestions for small nonprofits to address and improve financial health, plus five ways that grantmakers can help.

UnderDeveloped: A National Study of Challenges Facing Nonprofit Fundraising (CompassPoint Nonprofit Services): “A joint project of CompassPoint and the Evelyn and Walter Haas, Jr. Fund, the report found high levels of turnover and lengthy vacancies in development director positions throughout the sector [...] Beyond creating a development director position and hiring someone who is qualified for the job, organizations and their leaders need to build the capacity, the systems, and the culture to support fundraising success.” Does the report reflect your experience? What do you think might “break the cycle?”