Study finds positive signs for the future of nonprofits
The past two years have been challenging for nonprofits, but the “2022 Nonprofit Technology Trends Report,” sponsored by Sage Intacct (a provider of cloud financial management), found encouraging signs for the future. For example, more than twice as many of the more than 900 nonprofit leaders surveyed (44%) saw more of a revenue increase in 2021 than in 2020 (21%). Of those organizations with higher revenues, 34% enjoyed increases of more than 25%. And giving was higher across all types of funders — individuals, corporations and governments.
A Golden Girl’s legacy to nonprofits
The loss of actress Betty White in December 2021 generated more than just waves of admiration and grief. It also kicked off a fundraising boom for a wide variety of charitable organizations. White was well known as an advocate for animals, leading to a posthumous surge in giving to several animal-related organizations that she was involved with, including the Greater Los Angeles Zoo Association (GLAZA).
According to The Nonprofit Times, the Columbus Zoo and Aquarium’s Partners in Conservation made a grant of $40,000 to the Gorilla Doctors, which protects gorillas in East Central Africa, in White’s honor. In addition, a viral social media campaign (#bettywhitechallenge) encouraged $5 donations to animal rescues or shelters in observance of what would have been White’s 100th birthday in January of this year. Even before that day, numerous rescues and shelters reported receiving thousands of dollars in her memory.
Why more nonprofit employees qualify for loan forgiveness
The U.S. Department of Education (DOE) has revamped the Public Service Loan Forgiveness (PSLF) program that’s intended to provide debt relief to student borrowers who go into public service, including some nonprofit employees. The DOE says its overhaul will result in more than 550,000 borrowers with consolidated loans seeing an increase in payments that qualify toward eligibility for forgiveness. The average borrower will receive another two years of progress toward forgiveness.
Among other significant changes, the DOE is providing a temporary opportunity for borrowers to get credit for all prior payments they’ve made, even those that wouldn’t otherwise count toward PSLF. Any prior payments made while working for a qualifying employer will count, regardless of loan type or repayment plan. To receive these benefits, borrowers will have to submit a PSLF form by October 31, 2022. More information can be found at https://studentaid.gov/manage-loans/forgiveness-cancellation/public-service.