Are you the executive director of a nonprofit organization? A human resources employee, board member, senior manager, frontline worker, or intern at a nonprofit or government entity?

Through Oct. 31, 2022, you have an exciting opportunity to promote a government program that could provide substantial financial benefit to employees of your organization who have federal student loans, at no cost to you or your organization.

This little-known program, Public Service Loan Forgiveness (PSLF), was created by Congress in 2007 to promote public service in the government and nonprofit sectors by reducing indebtedness and the costs of higher education for borrowers. The program is open to government workers at all levels (federal, state, and local); military members; and employees of 501(c)(3) nonprofit organizations. Public service work is a big part of the economy: roughly one in four US workers are employed by a government agency, a nonprofit, or the military.

For those who qualify, PSLF can completely wipe out the balance of a borrower’s federal student loans after 10 years of qualifying monthly payments (120 payments).

To qualify for many nonprofit jobs, some level of higher education is required, and indeed, advanced degrees are a condition of employment at nonprofits that provide specialized services, such as legal services or health care. All this higher education can add up to a large amount of federal student loan debt for the workers in your organization.

Is anyone else feeling a bit of déjà vu after hearing ongoing news reports of an impending recession? You too? It feels as though we just finished with a recession … because we did.

The greatest economic downturn since the Great Depression, The Great Recession took place from 2007 to 2009 and was marked by financial decline worldwide. From a global economic standpoint, identifying causes of The Great Recession can help us avoid similar events again … or to recover more quickly if we do. That approach could be especially helpful given that economy experts predict a continued financial slump and possibly another recession.

The good news is that nonprofits can learn from our experiences rebounding from The Great Recession too. Having experienced that financial decline, funders’ responses to the crisis, and, more recently, surviving the worst of the pandemic, how will nonprofits use that knowledge to not just survive but sustain and thrive?

A Nonprofit Quarterly study of nonprofit funding trends following The Great Recession illuminates potential trends as we navigate this economic downturn with no clear end date. While the rate of nonprofit closure was 13.5 percent during the peak of the recession (2008-2010), the rate was only 3.3 percent higher than it was two years prior and only 5.3 percent higher than it was the two years after. And, because new organizations were launched just as often as they were closed, the number of nonprofits remained relatively steady before, during, and after the recession. This study also found that the most stable organizations during The Great Recession were human service organizations. They experienced the lowest rate of closure and the smallest losses overall. Seems promising, right?

Nonprofits and 403(b) plans have traditionally gone together like peanut butter and jelly. 403(b) plans were established for the exclusive benefit of tax-exempt organizations and have long been the plan of choice for nonprofits. However, nonprofits now have other options to consider. Even if you prefer a 403(b) plan, as many nonprofits still do, it is worthwhile to review and weigh the benefits of other types of plans.

Generally, a nonprofit has the four types of plans to choose from:

Episode 19: What happens when a nonprofit executive director decides to share their leadership role? Join Shari Finnell in a conversation with Earth Charter Indiana’s Jim Poyser, director of advancement, and Rosemary Glass Spalding, board president.  Listen

Leadership United, United Way of Central Indiana’s community leadership and board member development program, is accepting applications for its Jan. 11-June 30, 2023, session. The program is for individuals who are passionate about community involvement and are seeking professional development. Apply or make a recommendation by Oct. 14.

The Indianapolis Colts' Kicking the Stigma initiative has awarded Tindley Accelerated Schools $20,000 to support efforts to raise awareness about mental health disorders, including removing the stigma often associated with these illnesses.

The Damien Center has launched a $4 million capital campaign to help fund its new headquarters.

The nonprofit organization, which is currently headquartered at 26 N. Arsenal Ave., has outgrown the 15,000-square-foot location because of heavy demand for its services. Read more

The African American Legacy Fund of Indianapolis, a major fund of the Central Indiana Community Foundation, has announced a $100,000 grant opportunity for an organization addressing wealth-building and preservation activities in the local Black community. The deadline to apply is Oct. 15. Send all submissions to Marshawn Wolley

Through the Indianapolis Public Transportation Foundation's Bus Pass Grants program, nonprofits can apply for free bus passes through an annual competitive grant process that distributes funds as they are available. Deadline for applications is Oct. 31. Grants are expected to be awarded in January 2023. Learn more

DONATION: Numerous office phones, including Grandstream GXP213, Grandstream GXP2160, and Yealink SIP T29G. Contact Annie for more details or call (317) 396-5000 on Mondays, Wednesdays, and Fridays.

Form 990 red flags & updates: Is your organization in compliance? on Sept. 21 at 9 a.m. Learn about red flags on Form 990 and the latest updates on IRS compliance measures. Presented by FORVIS. Cost: Free. Register

How to gain efficiencies in your accounting operations webinar on Sept. 22 at 2 p.m. Learn how to identify inefficient processes in accounting operations, prioritize and implement changes, and streamline processes. Presented by FORVIS. Cost: Free. Register

Nonprofit series: Strategic planning for nonprofits on Oct. 1 from 10:30 a.m.-12:30 p.m. at Central Library, 40 E. St. Clair St. Learn when and how to create an effective plan to guide your organization. Presented by the Indianapolis Public Library. Cost: Free. Register

Planning effective programs on Oct. 8 from 10:30 a.m.-12:30 p.m. at Central Library, 40 E. St. Clair St. Discover the main components of a solid program plan that will allow your organization to provide quality services to your community. Presented by the Indianapolis Public Library. Cost: Free. Register

Accounting & auditing standards annual event webinar on Oct. 11 from 10-11:40 a.m. Get real-world insights and lessons learned from those who have adopted the new lease standard. Presented by Barnes Dennig. Cost: Free. Register

The Racial Equity Institute’s (REI) Groundwater Approach virtual interactive training on Oct. 10 at 1 p.m. Examine characteristics of modern-day racial inequity. Presented by The Indianapolis Foundation. Cost: Free. Register

Central Indiana Land Trust is seeking volunteers on Sept. 21 from 10 a.m. to noon to help plant native plants at Oliver's Woods, a nature preserve along the White River. Learn more and register

The Salvation Army is seeking a senior human relations professional to add to the Central Indiana Advisory Board. The ideal candidate has experience with strategy, recruiting, retention, and DEI or compensation. Submit resume

VonLehman CPA & Advisors Firm  To retain top talent, adopt total compensation statements

Purple Ink  Crisis proof leadership

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President & Chief Executive Officer - ADEC

Job Seekers, what do you think of Charitable Advisors’ new job board? We moved our job board to HiringOpps in late April. Now, we are anxious to find out how the new system is working as a job seeker. If you have applied for a job using the new system, could you please take 2-minutes to let us know how it is going?