Winter 2011
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Winter 2011 |
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From The PresidentYou’ve likely heard by now that Giving USA found giving to be up 3.8% in 2010 following two years of decreases during the Great Recession. Recently, The Blackbaud Index of Charitable Giving reported that overall giving increased by 3.9% for the third quarter of 2011 as compared to the same period last year. In addition, the S&P 500 has regained 86% of its pre-recession value. Most indicators point to the fact that giving is on the rise but what can we really expect as we gear up for 2012? In this edition, we offer you some insight on what to expect with regard to the economy from a Professor of Economics and Dean of ODU’s College of Business & Public Administration, tips on how to position your organization for success in the New Year and development advice from the CEO of a leading community foundation. We here at The Curtis Group look optimistically forward to the year to come. We wish you a wonderful holiday season and as always, thanks for reading.
W. Keith Curtis, President The Economy Looking Forward: An Interview with Dr. Gil Yochum* The opinions stated in this article are strictly those of Gil Yochum as an economist and do not necessarily represent those of the University. Q: As 2011 draws to a close and we look back on the year, how do you think things have shaped up? In the context of ODU’s Economic Forecast, things have been slower than we projected but the economy is growing. Have things shaped up like we anticipated, no. There are several contributing factors that play into why the economy hasn’t grown as quickly as it appeared it would in January 2011, the largest factor being what happened this summer with Congress’ inability to make important economic decisions about the future size of government. Q: How long will it take for the economy to recover, in other words, get back to where it was pre-recession? According to the U.S. Department of Commerce data, by the third quarter of 2011 the U.S. economy finally surpassed the previous peak in GDP, which occurred in the third quarter of 2007. It only took 15 quarters to get here which is historically twice as long as it’s taken in the worst American post-war recessions (1973 & 1981). In a more typical recession it takes the economy around five quarters to recover to its previous GDP high. Q: What will it take to increase consumer confidence which stands at a historic low? That largely depends on the employment picture. Employment is not increasing at rates seen in the past, particularly after deep recessions. Currently employment is increasing at a shallow rate (around .8-.9%)—just enough to create the new jobs needed for new entrants into labor force. Job creation is a key to future growth—not just people getting a new job but not losing the one they have. Overall, employment is rising pretty smartly in the private sector but falling in the public sector. Q: There was a 2.9% GDP increase in 2009. What do you project for 2012? We are looking at a 2% growth in the national economy for 2012 assuming that the payroll tax rebate will be extended as well as unemployment compensation. Q: What is your outlook for the economy in 2012? The economy will grow in 2012. At this point it appears that the consequences of the Super Committee’s inaction will be hashed out in the 2012 presidential election and ultimately put off until January 2013. If the payroll tax break on Social Security payments is extended, as well as unemployment compensation, then we will likely see growth, but not overwhelming growth, probably not much different from that of 2011 (based on GDP). With regard to a recession in 2012, the odds are not very high—1 in 5. *To read the complete interview, click here . Preparing for Success in the New YearWendy McGrady, Vice President As 2011 draws to a close, we offer you our “Top Five List” of things you can do now to position your organization for success in 2012 and beyond. Before the New Year gets in full swing, take the time to do the following: Focus on board development. Do you know who is rotating off your board in the next two years? You should be cultivating people now to eventually fill these spots. Board recruitment and development is a long-term process with the ability to significantly impact the future of your organization. And, it’s something that you can focus on regardless of the economy. Connect with your donors. Have you picked up the phone and called your top 10 donors lately to simply thank them? Now is the time to focus on a strong stewardship and cultivation program. We owe it to our donors to keep them informed, involved and engaged. Revisit your development plan. Have you updated it in the past 12 months? Have you talked to your board about it recently? Doing so will help your board feel more engaged and better understand your goals for the coming year. Ensure that your organization has a clear message, based on your mission, and that your fundraising programs are focused on a simple but sound case for support. Implement a simple planned giving program. Even if someone can’t make an outright gift now they may be able to make a planned gift that could have a profound impact on your organization’s future. Angelica Light: Reflections on Philanthropy
 This March, one of Hampton Roads’ great leaders in philanthropy will hang up her hat. After nearly 13 years in her role as president and CEO of the Hampton Roads Community Foundation, Angelica Light will soon embark on what we know will be the next successful chapter of her life. We applaud her for the significant impact she has made on our nonprofits, our community and philanthropy in our region and have asked her to share some parting words of wisdom from her vast experience in the development field… “Sometimes one gets lucky in this life—lucky enough to work with highly talented and knowledgeable people who take the time to teach you the ropes. That has been my good fortune these last 12 years. I have learned from some real pros what it takes to do development well. Building relationships day by day by remembering birthdays, sending congratulatory notes when a donor receives public recognition, listening, really listening to learn what the prospect wants his or her gift to achieve, calling to catch up, saying thank you for a gift again and again over time—these are the basics of an effort to help others feel how important they are to the mission of my organization. Never forgetting that more than 80 percent of all gifts made in the U.S. come from individuals keeps me focused on how important every gift is, no matter the size. And I watch those gifts of $100 that come in year after year—they have planned gift potential. Calling those givers, finding out why they believe in what we do and offering to meet is a great way to start a relationship that just might end up in a planned gift.
I’ve also learned that development takes two-way conversation—that’s why listening is so important. I need to know what people think of what we do and how we do it. I am always flattered when someone genuinely wants my opinion so I like to ask our family of donors and prospects for feedback. More than that, I’ve learned that letting that family be the first to know important news about my organization makes them feel even more closely connected. They become the inner circle, privy to breaking news, owners of information that others don’t have. They feel special. And isn’t that what each of us wants—to feel special? Building relationships that make all of our donors feel very good about their ties to our organizations is what enables us to do what we do to make this a better place for all.”
Nonprofit News
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