One topic that is continually on the minds of all nonprofit organizational leaders are organizational goals. Those goals might include financial stability, improving efforts to achieve your organizational mission, raising funds for upgrades or improvements, etc. It may seem like a daunting task with your list of goals now before you, but not with the right partner at your side.
Short-term gain and long-term success are typically pitted against each other when determining the best methods to achieve your organization’s mission. This is particularly important for nonprofit organizations, whose services to the community are needed at many points on the timeline. TFEC offers nonprofit organizations several options to achieve their mission now and continue it into the future. Furthermore, TFEC provides expertise to nonprofit organizations to help make smart, safe and secure financial decisions to achieve their strategic goals. Therefore, TFEC provides three services to help nonprofit organizations achieve their long-term financial goals: agency funds, management services and projects/capital campaigns.
Since 1920, TFEC has provided resources to nonprofits like yours to help you make smart, safe, and secure financial decisions.
An Agency Fund provides an attractive path to financial stability. Nonprofit organizations can transfer assets to TFEC to establish a permanent endowment fund, which can also accept gifts from your donors. The funds provides a constant source of income to your organization to help mitigate the ups and downs of the market. TFEC prudently invests the fund to maximize long-term returns. If donors are interested in contributing to the fund, TFEC works with both your organization and your donors to facilitate simple gifts such as cash, stock and bond to complex gifts such as bequests, real estate and insurance policies. TFEC also provides gift acknowledgment and tax letters to your donors for every gift made to your Agency Fund.
You are an expert in your organization’s mission and know the best ways to serve your community. However, carrying out that mission can be a challenge, especially for those nonprofit organizations that cannot spare staff or resources on some administrative, investment, grantmaking or scholarship services. TFEC can relieve some of that burden through its Management Services. Once established, TFEC can handle several services such as accepting donations and acknowledging gifts. Other services include: financial reporting, audit assistance, budget preparation assistance, freeing you and your organization to focus on its mission-related activities. Moreover, the organization remains the legal owner of its financial assets.
A capital campaign is a time-limited effort by a nonprofit organization to raise significant dollars for a specific project. Often the money raised is to fund the acquisition, construction or renovation of a building. Sometimes, capital campaigns are used to build an endowment for the future. In other cases, capital campaigns fund an extraordinary expenditure, such as an expensive piece of equipment. Capital campaigns have a beginning and an end, but often span several years. A capital campaign employs all the usual means of raising funds such as direct mail, special events and direct solicitation. Capital campaigns require extraordinary preparation and skillful execution. TFEC can perform various transactional services, through a contractual project agreement, to assist nonprofit organizations with their capital campaigns.