Category Archives: financial

America’s Best Cities for Young Nonprofit Professionals


Posted by ajlovesya

This weekend Forbes.com released their list of America’s best cities for young professionals. To determine which cities made the cut Forbes.com measured unemployment rate, predicted job growth, cost of living, number of high profile companies, and concentration of graduates from elite schools (which indicates concentration of talent and career minded people).

While reading the list I couldn’t help but wonder what makes a city attractive to young nonprofit professionals. On the one hand, these measurements are important for all young professionals regardless of sector. For example, nonprofiteers especially want their money to stretch far–since we tend to make less of it compared to our for-profit peers–and are anxious to thrive while supporting their cause.

Yet I think the measurements offered by Forbes are incomplete when it comes to careers in the nonprofit sector. I find nonprofit work to be an after thought, not really included as a serious career choice or its employees having unique employment needs. Beyond money though, a culture where nonprofit work is valued results in a stronger professional and personal network, a sense of being part of the city, and opportunities to grow. Therefore, I wanted to brainstorm some measurements that might be important to young nonprofit professionals:

Size, job growth, and types of positions in the nonprofit sector: Essentially a snap shot of employment trends in nonprofit work in each city. These kinds of statistics show how sustainable the sector is in that particular city and if I can grow there.

Vocal nonprofits and partnerships with for profit and government: This indicates that the nonprofit sector has a strong presence in that city and that they are equal players in shaping the city.

Rate of volunteering: A city with a culture that fosters giving back, keeping nonprofits and public service at the forefront of city life.

Number of active young professionals groups or opportunities for meeting: To me, more important than the presence of graduates of elite schools is whether or not they are connecting around causes that are important to them. How easy will it be to find my peers, especially if I am new to the city or the sector?

I want a city where public service isn’t seen as an afterthought or nice idea–it is seen as a critical component of city life and its sustainability is viewed as crucial.

New York City would make the cut for me. In New York City, employment in the nonprofit sector grew in 2009 while it shrank in all other sectors. The nonprofit sector also increased employment of people between the ages of 16-24 by 17%. I’ve been able to connect with tons of people and organizations through YNPN-NYC and various other young professionals groups–not to mention all of the conferences that are held here each year. I’ve seen nonprofits–from grassroots to large institutions–mobilize to protest budget cuts and work with Mayor Bloomberg in launching new initiatives to support the nonprofit sector. We making progress in terms of volunteering but that cost of living still gets under my skin!

What do you look for when choosing a city for your nonprofit career? Any cities stand out to you as being great places for a career in the nonprofit sector?

Other posts you may find interesting:

1.  Meeting Fellow Nonprofiteers in New York

2.  Finding and Landing Your First Nonprofit Job


Should student loans be forgiven in bankruptcy court?


Posted by ajlovesya

I came across this article this weekend that raised some interesting points about a push to allow private student loans to be forgiven in bankruptcy court:

If you run up big credit card bills buying a new home theater system and can’t pay it off after a few years, bankruptcy judges can get rid of the debt. They may even erase loans from a casino.

But if you borrow money to get an education and can’t afford the loan payments after a few years of underemployment, that’s another matter entirely. It’s nearly impossible to get rid of the debt in bankruptcy court, even if it’s a private loan from for-profit lenders like Citibank or the student loan specialist Sallie Mae.

This part of the bankruptcy law is little known outside education circles, but ever since it went into effect in 2005, it’s inspired shock and often rage among young adults who got in over their heads. Today, they find themselves in the same category as people who can’t discharge child support payments or criminal fines.

Now, even Sallie Mae, tired of being a punching bag for consumer advocates and hoping to avoid changes that would hurt its business too severely, has agreed that the law needs alteration. Bills in the Senate and House of Representatives would make the rules for private loans less strict, now that Congress has finished the job of getting banks out of the business of originating federal student loans.

Outside of bankruptcy there is already some movement  in tackling the catastrophic impact of student loans.  For example, after ten years in public service and consistently paying your student loan, the remaining balance can be forgiven.  When the health care reform bill was passed, included in the bill was information about student loans including the ability to cap loan repayments at 10% of a person’s income.  And finally universities and banks are frequently under attack for giving loans, with congress considering in 2008 requiring all schools to disclose any relationship they may have with a bank and simplifying the financial aid process.

Yet being able to have student loans discharged in bankruptcy court is another issue.  This article comes on the heels of another article in the New York Times about a young woman from NYU who owes over $100,000 and is struggling to pay it off, planting an image of the reckless 19 year old who will want to declare bankruptcy just to avoid her personal responsibility.  However, that attitude ignores the realities of bankruptcy: 90% of all people who file for bankruptcy do so for one of the following three reasons: 1) divorce 2) health crisis 3) job loss. And the process of filing for bankruptcy can be expensive, arduous, as well with long term financial implications.

It’s also insulting in that it assumes that taking out student loans with the intention of making enough to pay them back is  somehow more egregious than folks who take out loans to buy boats and cars for fun. There is a desire to scold young people for doing what people tell us we should be doing “Go to school!  Get an education!  Get a good job!” when all of these things are subjective and not guaranteed.

But the fact that you could discharge privately backed student loans in bankruptcy court before 2005 makes me wonder what the hold up is in readdressing this issue.  If we were to look back at data before 2005 on declaring bankruptcy, will it be skewed toward young people holding massive amounts in student loans?  How do we address other issues when it comes to rising costs in education like how many colleges often raise prices to be competitive not meet actual needs?  Is this a time to advocate for larger system reform when it comes to how we on an individual and national level finance education?

So what are your thoughts on the current state of student loans?


When it Comes to Executive Pay, Numbers Arent Enough


Posted by ajlovesya

While much of the conversation about nonprofit pay focuses on how we are not paid enough given the work we do, every now and then someone will attract the wrath of the public for having what is considered a salary that is too high.  Honestly, I generally don’t share the indignation because there is never any context given to the numbers.   There are a few questions I think we should answer when deciding whether or not pay is excessive:

  1. What percentage does this take of the organization’s budget? We accept that, as a rule, the larger the organization, the larger the salary but have we come up with a percentage that shows once executive pay reaches this point it can have negative consequences on the organization?
  2. What is the overall financial health of the organization? Connected to the first question, have we established processes to determine whether the pay makes sense given how well the organization is doing and that nothing is being done inappropriately?
  3. What is the treatment of other employees? The argument that high salaries and benefits should only be given to executives doesn’t sit well with me.  Talent is needed at all levels, so in order to recruit and retain the best throughout the organization, everyone should be paid well.
  4. And of course, the biggest and kind of silly question that I like to ask: what’s the organization’s impact on the community it serves?  If they are doing what they set out to do, what’s the concern?

Without context, we can’t develop methods to defining and providing a competitive yet fair salary.  It becomes arbitrary and reveals more about how we expect nonprofiteers to only be in it for the love of social change without accepting that social change requires excellence, competence, and tenacity, not just warm feelings or sweet ideas.

We’ve done a great deal of comparing and measuring when it comes to classifying nonprofit pay as being too little. Why haven’t we done the same when determining whether it is too much (especially when, to be frank, it’s RARE.  High salaries are the exception, not the norm).

The outrage concerns me because it extends beyond the executive in question.  People begin to demand that the entire sector be checked and begin to doubt whether their donations are making a difference.  Feelings of mistrust, however misguided, fester because an explanation of the pay and and more rigorous debate of our expectations of nonprofits do not occur.

How do you determine whether or not pay is excessive?


Reflecting on the 80 Million Strong for Young American Jobs Summit


Posted by ajlovesya

Two weeks ago I attended a two day summit in DC by 80 Million Strong for Young American Jobs. In two days I learned about the impact of unemployment, researched and brainstormed solutions, and met with members of Congress to explore how we can partner to address this issue.  It was fast paced, intense, and at times, a bit overwhelming.  However, what really stuck with me were the people who attended.

Nothing beats spending time with people who are moved not by selfishness but by a genuine desire to see their friends and family have a better future.  They brought talent, passion, and a desire to connect, learn, and engage, all of which are crucial to addressing pressing issues.  I was blessed to be in a room full of people who shared those characteristics and brainstorm innovative solutions to what is quickly becoming a global crisis.

To celebrate and honor these changemakers, for the rest of the week I am going to highlight participants of the summit. I hope you find their work and passion as inspirational as I did.


Social Change Rockstar: Meet Wendi Oppenheim


Posted by ajlovesya
from opp-guide.org

From Opp-Guide.org

A few months ago on twitter I came across the Opp-Guide, a web based nonprofit that allows young people to explore and rate volunteer experiences. I love the idea of young people becoming more involved in community service and sharing their views so I asked Wendi Oppenheim, the executive director of the organization, for an interview.

If the idea behind the Opp-Guide doesn’t wow you, maybe Wendi will. She is a 10th grade honor student who started the Opp-Guide to Community Service 5 years ago. In addition to winning a $10,000 social media grant from Best Buy/Ashoka she also is the only sophomore sitting on the board of Alliance For A Healthier Generation, a joint-venture between the American Heart Association and the William Jefferson Clinton Foundation to get young people interested in healthier more active lifestyles.

Tell us about your organization:

I created and developed about five years ago, the Opp-Guide to Community Service, Inc. an on-line resource for youth to learn about service activities within their community. Modeled after the Zagat Guide which rates restaurants, the Opp-Guide “rates” service opportunities. Specifically, students complete an objective questionnaire and write reviews about their volunteer experience, thus enabling other youth to find compatible service activities of interest to them.

The Guide’s mission is to empower, educate, and motivate youth to volunteer and make a difference within their communities. Many schools require community service for high school graduation. Further, under the present Obama administration, service is encouraged not only for older students but also for middle-school students. The Guide tries to bridge the disconnect between youth who do not know where to volunteer and volunteer organizations seeking volunteers.

We were originally in print form which we sold to area high schools, libraries, adults, and youth, the proceeds of which were distributed to Hurricane relief efforts. After becoming a 501c3, we went on-line in order to capture a greater number of people as well as to expand to other communities.

What was the inspiration behind starting it?

The inspiration in forming the Guide was to close the gap between students and youth not knowing where to volunteer and matching them with compatible volunteer activities so that they would continue volunteering throughout their adulthood. By providing youth with the ability to review their service experience (which we verify and then post on-line), others receive candid, witty, and honest insight as to a particular volunteer activity.

We originally came up with this idea when we realized that other students do not know where to volunteer and that many youth view volunteering as “mandatory” as opposed to actually enjoying themselves.

What were the challenges in starting your own nonprofit and how did you deal with them?

Getting initial funding and publicity. We were fortunate in preparing and successfully obtaining seed money from youth based service organizations. After becoming a 501c3, we were able to seek private foundation resources. As for publicity, we have been using a wide range of internet based social modes to “spread” the word.

What resources have been helpful in creating and maintaining this organization?

The internet and partnerships with other nonprofits as well as youth based ventures have helped sustain us.

How do you balance going to school while running a non-profit?

It has been challenging having to contend with a rigorous academic schedule as well as other extracurricular pursuits; however, having a strong Board and being able to organize time are helpful!

What advice would you give to a young person wanting to start a nonprofit?

Although it may be a bit overwhelming when you may consider the amount of time and effort that a nonprofit needs in order to exist (as well as funding to be able to sustain itself), as long as you are passionate about what you are interested in, you will be successful!

If you are interested in learning more about the opp-guide or helping out you can send an email through their website.