Newspapers / Philanthropy Journal of North … / May 1, 1997, edition 1 / Page 17
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May 1997 Philanthropy Journal of North Carolina • 15 Firm brokers unpaid bills for charity A Ralei^ firm is acting as a bro ker for an Oklahoma City company that aims to help nonprofits secure corporate contributions in the form of unpaid bills owed to corporations. Raleigh-based American Diversified Funding, the broker, has hooked up with Heritage Financial Services Inc. in Oklahoma City. Heritage, which buys and sells non performing assets, or unpaid accounts receivable, has begun a new service that helps corporations contribute their nonperforming assets to nonprofits after writing those assets off. The nonprofits sell the nonperforming assets to Heritage. American Diversified Funding works to match nonprofits with Heritage. Judy Dalton, vice president of American Diversified Funding, says that uncollected corporate debt, once it is written off, is worth Uttle to the corporation but can be of great value to nonprofits. Call Dalton at (919) 870-7883. NSFRE Continued from page 14 profits to the point where joining trade associations is no longer feasi ble. “We’re just pedaling as fast as we can,” she says. “We’ve just got more going on than we can say grace over.” Stacey Todd, a spokeswoman for Virginia-based NSFRE, says the national organization did a pilot study of the effects of a two-tiered dues structure that offered lower charges to small, grassroots organi zations. “But the outcomes really showed that grassroots organizations — even with reduced dues — did not join,” she says. “So based on the number of new members we did receive, the board voted against a reduced dues structure.” The NSFRE now has about 18,000 members in the U.S. who pay $185 in annual dues and whatever added fees their local chapters charge. Althou^ the NSFRE does not offer lower dues to small organizations, it does offer a reduced rate of $68 annually to people who are just get ting staked in the fundraising field, Todd says. As for the Wilmington NSFRE chapter, members and supporters are not sure about its future. “There is no plan for transition or new people coming on in 1997,” Griggs says. “The dues-paying mem bers who are left are going to have to wrestle with that.” Despite the difficulty of attracting new members, Lineberger says, it’s possible that the coastal chapter will be revitaUzed at some point. The chapter was scheduied to hold Its annual Philanthropy Awards cere mony honoring local nonprofit fundraisers last month. Other North Carolina chapters of the NSFRE operate in Asheville, Boone, Charlotte, the Triangle and the Triad. For information about the association, call (703) 684-0410. Have a story idea? Call (919) 899-3744. Web Continued from page 1 nal business plan,” says Fox. “I want to make sure they have the chance to participate in developing a soUd plan for the future of Charlotte’s Weh.” When the Philanthropy Journal went to press, the fate of Charlotte’s Web had not been decided. But sup porters were optimistic they could incorporate the service as a nonprofit and secure the financing needed to retain its independence. The evolution of Charlotte’s Web offers a ^impse into the oi^anizational and financial chal lenges that nonprofits can face. Here’s what happened; To launch the local online service, Mecklenburg County secured a $950,000 grant from the U.S. Department of Commerce. The grant, however, expired last Oct. 1 and, in November, the county- funded hbrary agreed to help fund and staff the service. In all, the county has invested more than $1.4 milUon in equipment and employees since Charlotte’s Web was launched in 1994. The service has received high marks for making the Internet accessi ble to local organizations. But Charlotte’s Web did not incorporate itself, did not create a board of direc tors and did not develop a plan for long term funding. Snow recently did present the coun ty with a business plan for continuation of the service. But county officials say it failed to show how the service would support itself financially. “There was insufficient success in securing grants at the time that would allow it to survive, but the desire was there,” says county spokesman John McGilhcuddy Snow initially declined to comment. He later responded by email to ques tions posted pubhcly to an email dis My personal naivete put us in this position. When we got the initial grant, I was told not to worry.' cussion group. County control never was the vision for Charlotte’s Web, Snow says, and he and other employees of the service never considered themselves employ ees of the connty library — even thou^ it paid some of their salaries. “My personal naivete put us in this position,” he says. “When we got the initial grant, I was told not to wony that everything would be fine; we could just use the library’s umbrella for deduetiblhty and things would work out. Ri^t. To that, I say now; ‘I will always get paper for every dealing with government.’” Snow says he attempted to convert the service into a nonprofit one year ago, but that the county repeatedly put off his requests to meet about the option. By the end of the year, he says, Fbx had warmed to the idea of nonprofit status for Charlotte’s Web, so Snow created a busi ness plan that includ ed a request for coun ty support, which was rejected. That is when Fox issued his initial ruling to merge Charlotte’s Web into county govern ment. Then, in the face of protest by supporters. Pox gave tbe group until May 1 to submit a new plan. An emei^ncy board now has been created by a group of 10 interested vol unteers. If the bo^ cannot develop an acceptable plan to make Charlotte’s Web financially independent, the coun ty will take over the service July i The volunteers say the plan will call for incorporating the service as a non profit and will spell out how the organi zation will secure the financing it needs. Snow says Charlotte’s Web so far has obtained grant support by subcon tracting throng other organizations. This includes a $900,000, three-year grant that the service shared with Central Piedmont Community College. Charlotte’s Web will begin seeking - Steve Snow Charlotte's Web 'erne nib ei Fund Raising Day in Charlotte Tuesday, September 16 1997 James H. Barnhardt Student Activity Center University of North Carolina, Charlotte Presented by: The National Society of Fund Raising Executives Charlotte Chapter FUND RAISING IN THE NEXT MILLENIUM Save The Date! grants once it obtains its nonprofit sta tus, but Snow says grants eventually will make up less than half its rev enues. “We intend to focus on strong pro- jects/apphcations where we hope we can bring new value or added v^ue to communities and community net works.” In April, board members divvied up the tasks associated with forming a nonprofit. Chair Robbi Meador of Aardvark Computer Consulting is writ ing the bylaws, and Frank Croke of Soundview Communications is work ing on finances. The group also has obtained pro-bono legal and account- ingprofessionals to help with the incor poration and application for tax- exempt status. Croke says it may be tough to con vert Charlotte’s Web Into a financially secure nonprofit organization by July 1. But he says a good faith effort that is making sohd progress toward that goal may be enou^ to satisfy county offi cials. ‘We have to show them enough,” he says, “so they feel its worthwhile.” The group’s Web address is www.charweb.org. Successful Fund Raising Strategies for Non-Profits Call (910) 599-3675 to hear how we can help you increase contributions, strengthen public relations and enjoy the process! R. Shoemaker & Associates, Inc. 585 Lonach Lane Roxboro, NC 27573 OVER 25 YEARS PROVEN TRACK RECORD COST EFFECTIVE ates THE TR-UST COMPANY OF THE SOUTH Service and Accountability The Trust Company of the South is an independent, state-chartered, non-depositoiy bank providing responsive, personalized and tailored investment management, fiduciary and administrative services to charitable organizations and endowments. Please contact John H. Slayton, President, for more information. (910) 538-1000 (800) 800-9440 3041 S. 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Philanthropy Journal of North Carolina (Raleigh, N.C.)
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May 1, 1997, edition 1
17
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