With year-end approaching, Mark Neithercut wrote a piece for Crain’s Detroit Business’ “Other Voices” section entitled “Keep Philanthropy From Going Wrong?”
In it, Mark discusses the importance of planning to increase the effectiveness of gift-giving, including assessing the financial health and management of a nonprofit, stating expectations in a written agreement, limiting the amount of restrictions that may hamper the nonprofit, and considering making part of a gift for the non-profit’s operations and even its endowment.
You can learn more about how to keep gift-giving on track by downloading our “10 Rules Every Major Donor Should Follow.”
Neithercut Philanthropy Advisors is pleased to announce that firm president and founder Mark Neithercut has recently been appointed to the Detroit Symphony Orchestra’s Planned Giving Council. The Council focuses on fundraising efforts and strategy, with emphasis on planned giving that supports the DSO’s sustainability and longevity.
“It is an honor to serve in this role,” said Mr. Neithercut. “The DSO is an important institution, both culturally and economically, for our city and region. I look forward to playing a small part in helping the DSO make a big impact for generations to come.”
We are searching for a new Project Manager. If you are a talented, hardworking professional interested in joining a growing, entrepreneurial firm, then we are interested in hearing from you. Learn more about the role and how to apply.Read more
The Michigan Health Endowment Fund (the “MHEF”) announced in December that, through two rounds of its 2014 Pilot Grant Program, it has awarded a combined $36.15 million in grants to 10 organizations that provide health and wellness services to older adults and children.
The MHEF awarded a total of $38.15 million in grant awards in its first year of operation. The mission of the MHEF is to improve the health of Michigan residents and reduce the cost of health care with special emphasis on the health and wellness of children and seniors. The MHEF was created through the passage of Public Act 4 of 2013, which authorized certain changes to how Blue Cross Blue Shield of Michigan (BCBSM) operates in the state.
The following nonprofit organizations were approved for funding:
The MHEF Fund is a current client of Neithercut Philanthropy Advisors (NPA), and the firm has worked closely with the Fund during its inception to develop operational and grantmaking strategies that will enable it to fulfill its mission of meeting the healthcare needs of Michigan’s residents and reducing healthcare costs.
“It is gratifying to work with an organization as deeply committed to its mission as the Michigan Health Endowment Fund,” said NPA President Mark Neithercut. “The Fund has generated tremendous momentum in its inaugural year and we look forward to helping its leadership continue to make a difference in 2015 and beyond.”
Neithercut Philanthropy Advisors, LLC has hired two new professionals to join its growing team. The firm welcomes Laurie Solotorow as Director of Philanthropic Services and Ronald DiCicco as Managing Director. Click here to read the People On the Move article in The Oakland Press.
NPA is proud to have played an important role, in conjunction with its foundation clients, in getting New Economy Initiative (NEI) from concept to reality. Find out what NEI is doing in its second round of funding in Crain’s Detroit Business.
NPA client, the William Davidson Foundation, recently announced that it made $63 million in grants, including $18 million in the 4th quarter aimed at improving economic conditions in SE Michigan. Read more about the impact our client is making.
The Matilda R. Wilson Fund of Detroit has selected Neithercut Philanthropy Advisors to conduct a project in support of its grantmaking operations.Read more
Neithercut Philanthropy Advisors, with offices in Detroit and Chicago, was selected by the Max M. & Marjorie S. Fisher Foundation of Southfield to provide guidance to the foundation on grantmaking systems and procedures.
Neithercut Advisors L.L.C. in Detroit has been selected by the Kansas Health Foundation to lead the planning and implementation process for the second 10 years of GROW (Giving Resources to Our World) Healthy Kansas, a major project of the Kansas Health Foundation. The project’s goal is to help more Kansas community foundations build permanent resources to measurably improve the health of local residents.
Neithercut Advisors, Detroit, selected by Kansas Health Foundation to lead planning and implementation for GROW (Giving Resources to Our World) Healthy Kansas, community-based initiative to improve the health of Kansas residents.
The Detroit Executive Association appointed Mitchell Simon president, John Adamo vice-president, Mark Stackpoole treasurer and June Cox executive secretary.
The Steering Committee appointed Mark Neithercut to the board of National Network of Consultants to Grant makers.
Mark Neithercut, principal of Neithercut Advisors LLC of Detroit, has been appointed to the Steering Committee, which functions as the board, of the National Network of Consultants to Grantmakers, the largest trade association in the nation to bring together consultants dedicated to increasing and strengthening the practice of philanthropy.Read more
As quoted in the article by Sherri Begin Welch
…According to the Foundation Center in New York, the number of all foundations in Michigan grew 20 percent to 2,092 between 2000 and 2006, said Mark Neithercut of Neithercut Advisors L.L.C. in Detroit.
In 2006, 48 percent of family foundations gave away less than $50,000 per year, and 60 percent had assets less than $1 million, Neithercut said, again citing Foundation Center data. “That means there are thousands of tiny family foundations out there,” he said.
It takes several months and about $5,000 in legal fees to set up a family foundation, he said. “We advise families not to think about a family foundation unless they are funding it with at least $10 million, because of the administrative costs.”
“I think sometimes people establish family foundations because they think it’s a trendy thing; they don’t realize the ongoing paperwork and expenses associated with that charitable giving option,” Neithercut said. “If your goal is charitable … there may be better ways to do this, especially if your assets are small.”
To see the entire article, go to Crain’s Detroit (may require a subscription) or call our offices.
How can family foundations avoid trouble with regulators? Awarding scholarships can be a serious red flag. So can allowing board members, staff or friends to fulfill personal pledges with foundation grants.