Tips for Thriving During the Downturn part 4
In this economic climate, many are struggling to get a handle on their financial and their income generating potential. The same challenge faces many of our nonprofits today. In their recent article “9 Innovations That Are Helping Charities Thrive in the Downturn”, a few nonprofits shared some of the innovative ideas that are working for them.
- Push for Bequests – Bequests are an often underutilized tool for nonprofit support. The increase in the number of baby boomers who are living longer and struggling to figure out what their retirement plans can really do for them, leaves many of them concerned about parting with their cash too early. With the help of a bequest, a donor can designate their remaining assets to go to the charity of their choice after they have passed. With such a large segment of the population having money tied up in property and investments, the potential to increase nonprofit coffers is substantial.