OneRouge Community Check-In - Week 109

The topic will be a continuation of the origins of the Friday call - to discuss the challenges nonprofit leaders are facing while navigating and funding their programs through/post COVID with a potential economic recession looming (recommended pre-reading: Federal GDPNow tracker + World Bank) with our featured speakers:
Marlice Sanders (JP Morgan Chase)
Nicole Barnes (Jericho Road Episcopal Housing Initiative)
Kevin Philips (Raymond James)
Ed d'Hemecourt (Benefit Planning Group)
So now what? A pending recession, hurricane season upon us and the existing challenges our state is already facing - how will we get through all this?
TOGETHER! TOGETHER! TOGETHER!
That is why the Walls Project is inviting you and all the members of the OneRouge Coalitions to join us for a Community Networking Lunch Friday 6/24 at Noon at the River Center Library (see more info below). This will be a great opportunity to meet your fellow change agents and continue building relationships to do the good work in our city through the summer and years to come. No admission fee, open to all and stick around from 1-2pm to learn how to engage in OneRouge and with the Walls programs.
#OneRouge Week #109
Make Your NonProfit Recession Proof
Notes
Marlice Sanders (JP Morgan Chase)
I’ve spent 20 years in the finance industry. Community manager is a new role for Chase. $30 billion over the next five years - commitment was birthed from the George Floyd. All of our underserved communities now have a Community Manager. There are 150 across the country. Focuses on lending and affordable housing. Two billion is for giving and gifts. Locally we gave $5 million to the Plank Road corridor. Right now when we talk about our small businesses, through my partnerships we’ve established a cohort. We have a free entrepreneur training course. From beginning to end we take our small businesses. Started June 1. Two hours a week on Wednesdays. Facilitated with a lot of partners. Helping them understand the type of business they should have. Outside of that there’s opportunity for one-on-one coaching. We’re going to start it up again in August. We’re so excited. We had some great experiences. The goal is to close the racial wealth gap. Financial health is the nucleus of it all. Three things every business should have: Business banker, CPA, and attorney. Visiting with those persons together is very important.
I’m located in Metairie. We all know there’s a lot of different factors going on right now with the economy. I specialize in 501c3s and how to create a space for them. That space has to do with perpetual income. I have access to products and that have lower fees that will create income regardless of market fluctuations. Casey gets $100,000, he puts it into the product, now he can count on that income being guaranteed. Now that’s set and on cruise control. What if you have a market like we have right now. Very volatile. These products will offer a guaranteed rollup. Those folks will get a guarantee interest rate. Your income is growing. The fees are less than endowments. I specialize in that space. This cannot be a short term event. This isn’t a savings account. This should be a long term goal. The goal should be I’m looking to create an income stream no matter what happens to the market. When time goes on, you can pull the money out if you need it. But that shouldn’t be in the goal.
Kevin.phillips@raymondjames.com
nicolebarnes@jerichohousing.org
We are an affordable housing nonprofit. We’ve expanded our geography and impacts to all of south Louisiana. A big part is sustainability. Prior to COVID, we knew we needed to create some new funding so we could create other opportunities to continue our mission work. I was adamant about not doing strategic planning. What was most important was figuring out how to get the money we need in the door. We worked with some consultants. We talked about creating our own construction crew because that would save us some costs. All of this happened right before COVID because it helped us stay afloat at the time. When we had two extremely busy hurricane seasons and construction was stretched, we had our own crew. Another thing we’ve done is expand our financial coaching services. At a time when people are struggling, they need that education. It’s really helped people with long term goal of buying a house and then the short term of people who need help with the economy. When the pandemic started, home has never been more important than it is now. We need to figure out how to create stable homes for people.
QUESTIONS AND COMMENTS
How do I protect myself and the programming I want to provide to the community and how do I encourage my donors who are feeling the pinch of the recession?
Kevin Phillips - Your donors still have to pay taxes. There are ways you can donate to us and help with your taxes. Start the conversation with that. Start by telling them how you can help them.
Marlee Sanders - Take a closer look and restate your value as an organization to them. How can you help their mission? Set yourself apart from other organizations.
Patrick Tuck - Several years ago when we had a large sum of money, we sought out a product that would act like an endowment. We had to get the board comfortable. We had two bankers on the board at the time. We developed a policy before we sought out. Education was key. Onboarding new board members who were not knowledgeable was important. We did find a product that did what we wanted it to do. It protects the initial investment, which was a million dollar investment. After 7 years that million is ours or we can move it into another investment. We were looking at a $42,000 annual income. That’s now grown to 5.6% perpetually and that’s protected. That’s allowed us to move into traditional advisory funds that are more risky. Our performance on those is 10% higher than other areas.
David Beach - Now is a time when you have to be more entrepreneurial than ever. We’re trying to create platforms to have opportunities to raise funds in ways they haven’t before,t hat’s how 225 Gives came from. It’s important to leverage the knowledge that’s available. Now more than ever the federal government has programs to help nonprofits grow. Fundraising is what the nonprofits ask for in the survey we sent out before this.
Can you explain to us the difference of restricted and unrestricted funds and how OPEX covered by interest off of the fiscal product can further help NGO’s be more independent from donor/government constraints on what they do?
Patrick Tuck - The gifts we’ve been given are unrestricted gifts.
Pam Wall - The key to all of this is how you tell your story. If you’re a new organization you have to have your mission, your board, and strategic plan or mission plan. If you then go to a funder and there are grants for startups. In the development world we would call that a case for support. What is unique about what you do. From an old voice, in the grant world, someone who is giving you money, it is either restricted or unrestricted. A grant, especially federal money, it’s restricted. You submit a budget, so you can’t move it around without talking to your manager. Grants are almost always restricted.
Can any speaker discuss opportunities for ESG investing (environmental, social, and corporate governance) and how to reconcile these issues for a nonprofit?
Ed d’Hemecourt - The products that I’m talking about, it’s all up to the client. When I meet that Executive Director or board, the first thing I do is send out a risk tolerance assessment. Then we will do annual questionnaires. Second step, depending on the need or what they want the money to do is how we set up the account. You might have a lot of smaller gifts coming in and then when it hits a certain level, that’s where I come in. You can use me to create whatever space you want - restricted or unrestricted. You’re guaranteeing that the income balance will get these annual step ups.
Kevin Phillips - ESG investing - If you’re working with an advisory they should know about that. It’s very hot right now. If you don’t want to invest in companies and products that don’t align with your values, they won’t do it. Having the board sit down and create an investment plan. We want to invest in line with our values and have that in writing. Get some people on your board that know finance, too. If there are one or two people on the board that know finance, then the rest of the board will trust them because they are not an outsider.
One of the challenges of small and beginning organizations is that they often have a fiscal sponsorship relationship and most of their funding is primarily one or two major donors and activity driven (major fundraiser). Can any of the speakers address what if any of their programs or services can meet these organizations where they are?
Many advocacy organizations operate in both the 501(c) 3 and 4 arenas. How does being a dual organization impact their ability to utilize any of the speakers offerings?
Ed d’Hemecourt - Every client is situational. With our product, it’s very user specific. The risk tolerance is the fist step and then we look at the portfolio. Ask about fees. If they are being elusive about fees, run away as fast as you can. They should tell you right off the top. If they don’t bring it up, ask them. If they are going all over the place, it’s time to put your running shoes on and get out of there.
Marlice Sanders - There’s a lack of exposure and understanding with our consumers and businesses in our community. It’s not as simple as walking into a bank. As we do this work, being able to connect. It’s not one size fits all. Some people don’t always ask for the help. How do we figure out who they are?
Nicole Barnes - We had to bring the board on a little bit. They recognize that we have to become more entrepreneurial. We enlisted some national financial advisors to talk about this in other ways. We used that opportunity to restructure our organization. How we expanded what we were doing. It was a real educational process.
What are some of the terms you’ve been using?
Kevin Phillips - When you hear the word risk, think loss. How much can you lose? Risk adverse means you don’t want your investment to bounce as much. Aversion is more like a psychological state. You don’t want to throw good money after bad. Is your investment a good or a bad investment?
Ed d’Hemecorut - A physical hazard, for example is the city of New Orleans is below sea level, so it’s more adverse to flooding. How much money are you willing to risk to have a certain reward. You may be risk tolerant because you’re looking for a larger reward. You don’t want to have all your money in one spot, but you also want to make sure you have your money in spaces that fit your values. You don’t want to think emotionally, you want to think long term.
Zoom Chat
08:27:29 From Manny Patole (he|his, CCBR) to Everyone:
Hi all! Calling from Washington Square campus today and not apartment.
08:28:22 From Manny Patole (he|his, CCBR) to Everyone:
I am excited to hear from Marlice as I have a call with her on Monday with the JPM Advancing Cities collaborative work :-)
08:29:32 From Patrick Tuck to Everyone:
The only days Ed calls me Dr. Tuck are Mondays through Fridays! :-)
08:30:24 From Manny Patole (he|his, CCBR) to Everyone:
Do you mean Jan 6 investigation, or the 6-3 SCOTUS vote about Border Patrol agents?
08:32:39 From Manny Patole (he|his, CCBR) to Everyone:
The stupid question is the one not asked*
08:32:59 From Christopher’s iPhone to Everyone:
So true
08:33:25 From Casey Phillips to Everyone:
Manny, I was trying to not comment on Washington DC this AM but yes...that too
08:34:08 From Manny Patole (he|his, CCBR) to Everyone:
:-( Sorry, Casey.
08:35:01 From Manny Patole (he|his, CCBR) to Everyone:
YAY JPM AC Collaborative!
08:37:43 From One Rouge to Everyone:
1. good business banker
08:37:52 From One Rouge to Everyone:
2. 2. Attorney
08:38:03 From One Rouge to Everyone:
3. cash flow is key
08:38:36 From One Rouge to Everyone:
CORRECTION 3. a CPA
08:39:13 From Marlice Sanders- Chase Bank Community Mgr to Everyone:
08:39:21 From Marlice Sanders- Chase Bank Community Mgr to Everyone:
Thanks everyone !
08:39:25 From Manny Patole (he|his, CCBR) to Everyone:
08:43:43 From Marlee Pittman to Everyone:
Financial literacy for 501c3s 🙌🙌
08:45:21 From Christopher’s iPhone to Everyone:
What would the monthly income be for 100k? Is it like a 10yr?
08:47:19 From Manny Patole (he|his, CCBR) to Everyone:
Q: Can you explain to us the difference of restricted and unrestricted funds and how OPEX covered by interest off of the fiscal product can further help NGO’s be more independent from donor/government constraints on what they do?
08:53:55 From Thomas Donley to Everyone:
Sustainability Plans, engaged Finance Committees, and one/two large donors is the path to organizational sustainability.
08:55:45 From Rodneyna Hart to Everyone:
At Capitol Park Museum we are recruiting new board members, do you have any advice for finding folks who would be a good fit for our org?
08:55:46 From Elizabeth Shephard to Everyone:
Shoutout to Jericho Road Episcopal Housing for winning a Love Your City Award in 2020!
08:56:02 From One Rouge to Everyone:
08:56:03 From Ed d'Hemecourt to Everyone:
Ed d'Hemecourt: ed@benefitplanninggroup.net
08:56:13 From Patrisha’s iPhone to Everyone:
Yes we would for sure want to meet you
08:56:17 From One Rouge to Everyone:
nicolebarnes@jerichohousing.org
08:57:32 From Ed d'Hemecourt to Everyone:
Ed d'Hemecourt: cell: 985-778-1830, office:504-833-3434
08:59:00 From Rev. Alexis Anderson to Everyone:
One of the challenges of small and beginning organizations is that they often have a fiscal sponsorship relationship and most of their funding is primarily one or two major donors and activity driven (major fundraiser). Can any of the speakers address what if any of their programs or services can meet these organizations where they are?
09:01:25 From Rev. Alexis Anderson to Everyone:
Many advocacy organizations operate in both the 501(c) 3 and 4 arenas. How does being a dual organization impact their ability to utilize any of the speakers offerings?
09:01:43 From Thomas Donley to Everyone:
One thing to keep in mind is that by creating endowment funds or creating those annual investment streams is to reconcile you are investing in companies that may not align with your mission. Can any speaker discuss opportunities for ESG investing (environmental, social, and corporate governance) and how to reconcile these issues for a nonprofit?
09:02:08 From David Beach l Wilson Foundation to Everyone:
https://www.hawilsonfoundation.org/strategicplan/cbi/
09:02:09 From Kevin Phillips to Everyone:
Kevin Philips:
09:02:20 From Kevin Phillips to Everyone:
Kevin.phillips@raymondjames.com
09:02:59 From Casey Phillips to Everyone:
Sorry folks…internet
09:03:04 From Elizabeth Shephard to Everyone:
Props Thomas- I was going to ask the same question!
09:04:16 From Casey Phillips to Everyone:
Here is the link for the Wilson Foundation opportunity: https://www.hawilsonfoundation.org/strategicplan/cbi/
09:05:34 From Manny Patole (he|his, CCBR) to Everyone:
Always keep in mind the rule of unintended consequences: who gives you money or who you accept money from can appear to be a reflection of the values of your organization.
09:05:40 From Manny Patole (he|his, CCBR) to Everyone:
to Tom's point earlier.
09:08:50 From Patrick Tuck to Everyone:
Yes and to Pam: demonstrate your nonprofit's ability to manage funds that are given with the intent to be invested. It goes back to the original recommendation: business banker, attorney, CPA, I would add investment advisory firm to this list.
09:09:27 From Manny Patole (he|his, CCBR) to Everyone:
Q: Can you define the difference between Hazard and Risk, and what it means to be risk-averse, -neutral, or loving when it comes to investing?
09:10:59 From Manny Patole (he|his, CCBR) to Everyone:
Lots of industry speak and terms. Can I please ask that in the interest of the audience, speakers spell out the acronyms or define the terms they are using in responding to questions.
09:11:52 From Patrick Tuck to Everyone:
I am happy to speak to risk aversion.
09:13:19 From Thomas Donley to Everyone:
The best people on Finance Committees I’ve ever had are retired Executive Directors and retired tax accountants. They’ve seen it all!
09:16:51 From Patrick Tuck to Everyone:
A CPA and lawyer should work with your investment committee to develop a policy that agrees with your c3 c4 status.
09:17:28 From Patrisha’s iPhone to Everyone:
We, the Scotlandville CDC, is in the process of forming a grocery store for
Towne Center of Scotlandville
09:19:31 From Manny Patole (he|his, CCBR) to Everyone:
YeSs!
09:19:39 From Patrisha’s iPhone to Everyone:
If you have retail leadership experience and interested please reach out to 225 964-7824
09:21:24 From One Rouge to Everyone:
<SQUEAL!!!!!!> i LOVE grocery stores (and have wanted one for a long time) 🥰🥰🥰🥰
09:21:42 From One Rouge to Everyone:
i have NO retail experience, but would love to hear more about your store
09:21:49 From Alexis Jones - Habitat for Humanity to Everyone:
^^^^
09:25:25 From Christopher’s iPhone to Everyone:
Did Marlise from Chase share her email?
09:25:47 From Casey Phillips to Everyone:
09:26:36 From David Beach l Wilson Foundation to Everyone:
I would encourage nonprofits to inform Louisiana Alliance for Nonprofits about this need.
09:26:51 From Patrick Tuck to Everyone:
Agree David!
09:27:04 From Manny Patole (he|his, CCBR) to Everyone:
Business vs Service have two different mindsets... and is the core of corporatizing public utilities and services that is controversial/
09:30:06 From Thomas Donley to Everyone:
Always keep in mind, that market losses are not real until you sell.
09:30:19 From Manny Patole (he|his, CCBR) to Everyone:
Thank you, Pepper.
09:30:47 From Laramie Griffin EvolvE to Everyone:
There is an opportunity with the zoning commission on the 20th to submit a request for a community grocery store. CDC can you help?
09:33:59 From Manny Patole (he|his, CCBR) to Everyone:
Also, institutions have volume to invest and can bear short term losses over long term gains.
09:34:20 From Laramie Griffin EvolvE to Everyone:
That question was to Patricia of the Scotlandville CDC.
09:37:59 From Manny Patole (he|his, CCBR) to Everyone:
Q: can you explain to folks the difference between finance and accounting and why non-profits should know the difference ?(unless it was already discussed and I missed it)
09:38:07 From Patrick Tuck to Everyone:
09:38:09 From Ed d'Hemecourt to Everyone:
Many>>>so true...individuals do not have that luxury. That is why it is so important to think about long term goals and short term goals and place funds in the correct space. Appreciate the feedback!
09:39:41 From Ed d'Hemecourt to Everyone:
excuse my spelling:)
09:39:48 From Manny Patole (he|his, CCBR) to Everyone:
All good, Ed :-)
09:41:07 From Manny Patole (he|his, CCBR) to Everyone:
Dont Forget: Enron and Arthur Anderson ;-)
09:41:47 From Laramie Griffin EvolvE to Everyone:
How can a property like a house be beneficial to a non-profit that is free for the occupant that is temporary for one to 3 months or How do you get to an investor to agree to a 12 month investment for housing?
09:42:00 From Manny Patole (he|his, CCBR) to Everyone:
My general explanation of finance vs accounting: The difference between finance and accounting is that accounting focuses on the day-to-day flow of money in and out of a company or institution, whereas finance is a broader term for the management of assets and liabilities and the planning of future growth.
09:42:21 From Patrisha’s iPhone to Everyone:
This was awesome
Yes!
09:42:24 From Samantha Morgan to Everyone:
YEP!
09:42:48 From Manny Patole (he|his, CCBR) to Everyone:
Great session :-)
09:43:06 From Rodneyna Hart to Everyone:
We are currently accepting applications for new board members. If you know of anyone who might be interested, and who would be a good fit, please have them complete the application through our website: https://capitolparkfriends.org/2022/05/seeking-new-board-members/
09:43:21 From Ed d'Hemecourt to Everyone:
This was fun! Thank you all for including me.
09:43:22 From Alexis Jones - Habitat for Humanity to Everyone:
Whoop!
09:43:32 From Patrisha’s iPhone to Everyone:
Congrats!!!
09:43:41 From Rodneyna Hart to Everyone:
Woohoo!
09:43:46 From Rodneyna Hart to Everyone:
Way to go Walls
09:43:49 From Christopher’s iPhone to Everyone:
👏👏👏
09:44:00 From Patrisha’s iPhone to Everyone:
June 24th 1-2. Let’s Celebrate
09:44:10 From One Rouge to Everyone:
all i heard you say is “no crawfish"
09:44:17 From Patrick Tuck to Everyone:
I'll be on my way to Canada! So sorry to miss!
09:44:28 From Alexis Jones - Habitat for Humanity to Everyone:
I was literally typing that Pepper lol
09:44:34 From Patrisha’s iPhone to Everyone:
KidzFEST tomorrow
8:30-1
Scotlandville BREC Park at Bradley rd
09:44:48 From Alexis Jones - Habitat for Humanity to Everyone:
If I have ever eaten crawfish in front of you, nothing will ever be awkward to eat together ever again
09:44:49 From One Rouge to Everyone:
GMTA, @alexis!
09:46:11 From Toni Bankston to Everyone:
09:46:19 From Manny Patole (he|his, CCBR) to Everyone:
I do not have the dexterity to eat any crustacean... Crabs, Lobster, Crawdads, etc…
09:46:32 From Toni Bankston to Everyone:
I have to hop off and go to another meeting. Great to see everyone.
09:46:52 From One Rouge to Everyone:
@manny, that makes me sad 🥺
09:47:02 From Krystle D. Veals to Everyone:
School & Community Expo tomorrow
09:47:20 From Krystle D. Veals to Everyone:
Southern University// 10am-2pm
09:48:55 From Samantha Morgan to Everyone:
Bike ride TONIGHT: https://fb.me/e/3ioozSewl
09:48:59 From Alexis Jones - Habitat for Humanity to Everyone:
I couldn't find any reasonably priced bikes that fit me, so I bought some skates!!
09:49:20 From Samantha Morgan to Everyone:
Legit rollerskates?!?!?!?!?
09:49:34 From Patrick Tuck to Everyone:
Retired CPAs can volunteer to do your annual taxes. :-)
09:49:36 From Alexis Jones - Habitat for Humanity to Everyone:
Yes, legit! I can't keep up with the bikes yet though
09:49:59 From One Rouge to Everyone:
@alexis, you can hold on and let the bike pull you
09:50:22 From Alexis Jones - Habitat for Humanity to Everyone:
I should huh
09:50:24 From Morgan Udoh (She/Her/They) to Everyone:
Thanks Rev! ❤️
09:50:46 From Mary Bergeron to Everyone:
Morgan Udoh = Rockstar
09:50:47 From Patrisha’s iPhone to Everyone:
https://www.eventbrite.com/e/347601143377
09:51:22 From Patrisha’s iPhone to Everyone:
https://form.jotform.com/221004879773158
09:52:02 From Monica Guient to Everyone:
All of you are invited to join LSU for our Juneteenth celebration. The Clarence L. Barney Jr. African American Cultural Center (AACC) invite students, faculty, staff and the community to join us for a Juneteenth Celebration on Friday, June 17 from 12pm-2pm at the ACCC. Clarence L. Barney Jr. African American Cultural Center at 86 Veterans Drive (next to Barnes & Noble)
09:52:38 From Marlee Pittman to Everyone:
Shoutout to Ms. Pat and her concept for Kid's Fest - how to get our nonprofits to tailor their tabling and education to our young people
09:52:56 From Manny Patole (he|his, CCBR) to Everyone:
Pepper, dexterity or the patience for those foods ;-)
09:53:05 From Helena Williams to Everyone:
Yessss
09:53:44 From Rodneyna Hart to Everyone:
YES SIR!
09:55:18 From Rodneyna Hart to Everyone:
So proud of the work you are doing friend!
09:56:43 From Laramie Griffin EvolvE to Everyone:
Decarcerate Louisiana. Victory Over Louisiana Violence-Evolve Louisiana on Facebook and Instagram.
09:56:47 From Manny Patole (he|his, CCBR) to Everyone:
Thanks all, great to connect again. Enjoy the weekend.
09:57:14 From Patrick Tuck to Everyone:
Have a great Friday and weekend all!
09:57:19 From One Rouge to Everyone:
listen! the issues of awkwardness and even social graces are completely forgotten at a table overflowing with boiled crawfish IJS
09:58:44 From Helena Williams to Everyone:
Thanks Pepper!
Community Announcements
On June 24, we want everyone to come to the library for a community event. We want to meet and talk. It will be at the 4th floor at the library.
KidzFEST tomorrow
8:30-1
Scotlandville BREC Park at Bradley rd
https://www.eventbrite.com/e/347601143377
https://form.jotform.com/221004879773158
We are still looking for our trained cohorts to do groups. One of our trained folks will come and do wellness training.
All of you are invited to join LSU for our Juneteenth celebration. The Clarence L. Barney Jr. African American Cultural Center (AACC) invite students, faculty, staff and the community to join us for a Juneteenth Celebration on Friday, June 17 from 12pm-2pm at the ACCC. Clarence L. Barney Jr. African American Cultural Center at 86 Veterans Drive (next to Barnes & Noble)
Laramie Griffin - I run EvolvE - This month I’m speaking at different Juneteeth events. My organization is having a freedom and clothing drive at Yes We Cannibal. June 15, the ACLU is going to submit an amendment to end slavery in the 13th amendment. There’s a civil rights conference in downtown. There’s a caravan for justice on June 18. Follow Decarcerate Louisiana on Facebook.
Marlee Pittman - Unity Fest - Juneteeth event. All happening downtown on Juneteenth.