Muhammad Babangida | Philanthropy

Muhammad Babangida is a committed philanthropist from Nigeria

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Bitcoin and Nonprofits: How They Work Together

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On August 16, 2023

In Community Engagement, Muhammad Babangida, Philanthropy, Youth Philanthropy

At first glance, Bitcoin, the pioneering cryptocurrency, and nonprofits might seem like an unlikely pairing. Still, upon closer examination, their collaboration can significantly benefit charitable organizations and their philanthropic endeavors. Bitcoin’s unique attributes, such as transparency, security, and ease of cross-border transactions, align well with the needs and goals of nonprofits, enhancing their fundraising efforts and operational efficiency.

Borderless Donations:

Nonprofits often operate globally, aiming to address issues that transcend geographic boundaries. Bitcoin’s decentralized nature and digital format make it an ideal vehicle for cross-border donations.

Transparency and Accountability:

The blockchain technology underlying Bitcoin ensures a transparent and tamper-proof record of all transactions. This transparency can build trust between nonprofits and donors by providing clear insights into how donated funds are used. Donors can verify that their contributions are being utilized as intended, enhancing the accountability of charitable organizations.

Reduced Payment Processing Fees:

Traditional payment methods involve intermediary financial institutions that charge processing fees. Bitcoin transactions can significantly reduce or eliminate these fees, allowing nonprofits to donate more directly to their programs and initiatives.

Increased Donor Base:

Embracing Bitcoin donations can attract a new segment of tech-savvy and crypto-interested donors who might not have engaged with traditional fundraising methods. Nonprofits can expand their reach and connect with a broader audience by tapping into the growing cryptocurrency community.

Innovative Fundraising Campaigns:

Nonprofits can leverage Bitcoin’s technology to create innovative fundraising campaigns. For instance, they could issue unique digital tokens or NFTs (non-fungible tokens) as rewards for donations, fostering engagement and excitement among donors.

Swift Disaster Relief:

In times of natural disasters or emergencies, speed is of the essence in delivering aid. Bitcoin’s quick and borderless transactions enable nonprofits to receive funds rapidly, facilitating immediate relief efforts when needed.

Holding and Appreciation Potential:

Nonprofits holding onto donated Bitcoin can benefit from its appreciation over time. If the cryptocurrency’s value increases, the organization’s financial resources could grow, enhancing its ability to pursue charitable initiatives.

Educational Initiatives:

Nonprofits focusing on education can leverage Bitcoin to teach their target audience financial literacy and blockchain technology. This aligns with the mission of promoting awareness and knowledge among communities.

Early Adoption Advantage:

Nonprofits that embrace Bitcoin and other cryptocurrencies position themselves as innovative and forward-thinking organizations. This can attract attention, partnerships, and collaborations from within the crypto space.

As with any emerging technology, there are also considerations to consider. Bitcoin’s price volatility might affect the value of donated funds, prompting nonprofits to consider converting some of their Bitcoin donations into fiat currency to mitigate risk. Additionally, nonprofits must navigate regulatory and compliance frameworks related to cryptocurrency transactions in their jurisdictions.

The collaboration between Bitcoin and nonprofits can be mutually beneficial. Bitcoin’s features align well with the goals of charitable organizations, offering streamlined cross-border donations, transparency, reduced transaction costs, and the potential for financial inclusion. By embracing this technology, nonprofits can amplify their impact, engage new donor segments, and create innovative fundraising strategies that advance their missions.

Steps to Take After Launching Your Nonprofit

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On May 18, 2023

In Community Engagement, Muhammad Babangida, Philanthropy

Launching a nonprofit organization is an exciting and impactful endeavor. However, the work doesn’t end with the official launch. It’s just the beginning of a journey filled with opportunities and challenges. After launching your nonprofit, these are the most critical steps, drawing from expert advice and reliable sources.

Establish Your Governance Structure

After launching your nonprofit, it’s crucial to establish a solid governance structure. This includes forming a board of directors or trustees to guide and oversee the organization. Recruit individuals with diverse backgrounds and expertise who are passionate about your cause. Develop bylaws that outline the board’s roles, responsibilities, and decision-making processes. A strong governance structure will ensure effective leadership and accountability within your nonprofit.

Develop a Strategic Plan

A strategic plan will serve as a roadmap for your nonprofit’s future. It outlines your organization’s mission, vision, goals, strategies, and actions needed to achieve them. Develop a comprehensive strategic plan that aligns with your mission and addresses key areas such as programs and services, fundraising, marketing, and community engagement. Regularly review and update the strategic plan to adapt to changing circumstances and ensure your nonprofit remains focused and effective.

Build Relationships and Collaborate

Forge relationships with other nonprofits, community organizations, and stakeholders who share similar goals or serve the same population. Collaborating with like-minded organizations can expand your reach, leverage resources, and increase your collective impact. Seek partnerships for joint initiatives, knowledge sharing, and advocacy efforts. Building strong relationships within your community will help your nonprofit thrive and create lasting change.

Develop a Fundraising Strategy

Sustainable funding is essential for the success of any nonprofit organization. After launching, it’s crucial to develop a comprehensive fundraising strategy. Identify various fundraising avenues such as grants, individual donations, corporate sponsorships, and events. Utilize online platforms and social media to amplify your fundraising efforts. Cultivate relationships with potential donors, engage them in your mission, and communicate the impact of their contributions. Continuously evaluate and adjust your fundraising strategy to ensure long-term financial stability.

Focus on Transparency and Accountability

Maintaining transparency and accountability is vital for the credibility and sustainability of your nonprofit. If necessary, implement sound financial management practices, including regular financial reporting and independent audits. Ensure compliance with all legal and reporting requirements specific to nonprofit organizations. Transparently communicate your financials, achievements, and challenges to donors, board members, and the public. Embrace transparency as a core value to build trust and maintain the support of stakeholders.

Evaluate and Adapt

Regular evaluation is vital in assessing your nonprofit’s progress and effectiveness. Establish performance metrics aligned with your mission and goals. Track and analyze your impact, program outcomes, and financial sustainability. Solicit feedback from staff, board members, volunteers, and beneficiaries to gain valuable insights. Use this information to adapt and improve your programs and strategies continuously. A culture of learning and adaptation will enable your nonprofit to evolve and make a more significant difference over time.

 

Launching a nonprofit is just the beginning of a challenging and rewarding journey. It’s an ongoing process that requires dedication, collaboration, and continuous learning. Your nonprofit can achieve its mission and create meaningful change with a clear vision and strategic approach.

What Are Some Reasons Nonprofits Might Not Accept Donations?

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On March 2, 2023

In Muhammad Babangida, Philanthropy

When a tech company from Silicon Valley wanted to give a $250,000 grant to an organization that helps reunite immigrant families separated at the US-Mexico border, the RAICES organization immediately rejected the donation. They did so because of the doner’s political ties to US Customs and Border Protection, criticized for its policies against immigrants. 

Regardless of the political issues that affected the company’s decision, it is an excellent example for other charitable organizations. Nonprofits should consider how their donations affect their mission and goals before accepting them. Donations need to align with the organization’s values or goals to be beneficial.

When a donation goes against the organization’s core values, it should be considered a red flag.

Reputation is one of the most critical factors a charitable organization should consider when accepting donations. If a potential donor’s values go against the organization’s core principles, it could affect the trust that its supporters have in it.

Before accepting a certain type of donation or partnership, an organization should thoroughly consider the potential damage to its reputation caused by the donor’s values. Having clear and published guidelines on its core principles with help. 

Good360, a product philanthropy firm, aims to find the right products at the right time to help people. Through our evaluation process, we aim to find the appropriate donations to send to the right people. They will refuse gifts that aren’t the right fit for disaster victims. 

If a nonprofit receives an offer of a product or service that doesn’t meet your expectations, it might not fit your organization’s goals. In the worst cases, accommodating the request could cost you a lot of money and time. 

Make sure your organization’s mission and goals are clear, as well as the issues you’re working on, before accepting donations. This information helps potential donors know if you’re the right fit for their giving programs.

The Donations Comes with Too Many Restrictions

Significant gifts can come with strings attached, and donors may ask for the funds for specific purposes or one location. While it’s important to keep donors happy, sometimes it’s necessary to say no thanks when these restrictions threaten the mission or values of the organization.

Saying No Opens Doors

When an organization says no to a gift because of a specific condition, it means saying yes to something better.

It can be difficult to decline a gift, but it’s also essential to consider the organization’s long-term goals and the community’s needs. Being selective about the types of donations you receive can help you achieve these goals.

How to Run Your Nonprofit More Professionally

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On March 2, 2023

In Muhammad Babangida, Philanthropy

As a professional within the nonprofit sector, you know that investing in your staff is the best way to develop and grow an organization.

There has been a debate about whether or not leaders are born. 

Here are some vital skills to run a more prosperous and professional nonprofit organization. 

Public Speaking

According to a study, 73% of people are afraid of giving a public speech.

Although you may feel afraid of public speaking, it is still vital that you practice this skill to communicate your organization’s goals and vision effectively.

Having the necessary skills to speak in front of a crowd can help you effectively communicate your organization’s goals and vision. It can also help you connect with your audience and make a compelling case for your work.

Practicing is one of the most effective ways to overcome your fear of speaking. To improve your public speaking skills, take an educational course focused on the nonprofit sector. This course will cover various tips and tricks to help you prepare for your next speech.

You can also organize weekly public speaking events to practice in a low-risk environment. This can help them develop their skills and connect with their audience. 

Communications

Having the necessary skills to communicate effectively is very important for a professional in the nonprofit industry. It can motivate your team members and connect with your supporters.

One of the most effective strategies you can use to develop effective written communications is adapting your approach to various situations. This can help you reach out to your target audiences and make an impact when developing effective marketing strategies. 

Nonprofits have to embrace social media. Before you start using it, ensure you thoroughly understand the various platforms you can use.

Relationship Building

Another vital skill for the nonprofit industry is relationship-building. This can help connect with potential supporters and grant organizations a solid financial foundation.

Building strong relationships can help organizations retain donors and employees and avoid experiencing costly turnover.

When appropriate, find opportunities to connect with your stakeholders and supporters. For instance, events allow starting conversations and building personal connections.

It’s important to address people by name and include their interests and historical interactions to show they are unique and essential to your organization.

Delegation

As an organization grows, you must delegate some leadership responsibilities down the chain of command. Doing so frees up some of your time and allows others to grow with the organization.

You should also identify the individuals who will take on the tasks or projects you’re delegating. People interested in the project or activity are likely the best choice, as they’ll be motivated to complete it and show that they can handle the tasks. If no one is interested in the project, you might choose somebody with the necessary skills to complete it.

Budget Allocation

Some professionals assume the accounting team is responsible for allocating and budgeting resources. 

Nonprofits often have to carry out a lot of work with limited funds. As a group leader, you should allocate resources effectively to help the organization grow and sustain itself.

One of the most critical steps you should take when allocating and budgeting resources is ensuring the funds are accounted for correctly. The correct information will allow you to make informed decisions and manage the organization’s finances.

Managing a nonprofit’s finances is also a must for any professional to ensure that the organization’s success continues. Although there are various opportunities to develop these skills through professional development, becoming certified in this field is the best option.

Creating Passionate Volunteers

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On January 4, 2023

In Community Engagement, Muhammad Babangida, Philanthropy

Are you a part of a local nonprofit or charity organization? Do you supervise and recruit volunteers?

If so, you’re aware of the vital role of non-paid workers in a community or charitable organization. 

You’ll also need to find volunteers who can help with various tasks, such as fundraising and IT.

You can use online and offline methods to recruit volunteers. Both ways can help organizations identify potential volunteers and determine how to utilize them to meet their needs.

A Good Match

Start by looking for volunteers who are passionate about their work and have the necessary skills and experience to meet the organization’s needs. For instance, childcare providers are ideal for one role, while construction workers are good at physical activity.

Online Recruitment

You can also post a call for volunteers on the organization’s website’s homepage. Make sure the form includes details such as the desired skills, experience, and physical demands.

You can also reach out to your supporters, donors, and partners by email. Ensure the link to the recruitment page is included in the message.

Use social media platforms such as Facebook, Instagram, and Twitter to connect with potential volunteers and spread the word about your cause.

You can also check for volunteer-matchmaking sites that operate in your area. For instance, the Bill & Melinda Gates Foundation connects its employees and partners with local nonprofit organizations in various countries.

Without Technology

You can also speak out at community events to promote your organization. For instance, you can contact schools, clubs, and businesses to inform them about your cause. You can also distribute flyers and register volunteers at the event.

You can also post fliers around the community to inform potential volunteers about your organization. Consider the demographics of the individuals who are interested in volunteering and the appropriate locations.

You can reach out to local media outlets such as radio, television, and newspapers to place an ad for your organization.

Try holding a fundraising party, which can be a great way to get the community’s attention.

Network

Although you can recruit people online or offline, remember that your network can also help you replace retiring volunteers. If you’re still new to the organization, you can use your friends and family as a resource to find new volunteers.

Most importantly, If you’re passionate about the cause, you will instill the same vitality in those around you.

Maintaining Financial Integrity as a Nonprofit

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On October 6, 2022

In Community Engagement, Muhammad Babangida, Philanthropy

Nonprofits can build flexibility and stability by implementing financial management techniques to improve their financial performance. This resource explains the golden rules for financial management. Nonprofits play a vital role in communities by delivering essential services and building solid relationships with individuals and groups. Their financial activities support programs and volunteers and help shape their organizations’ future. Healthy organizations use financial management techniques to maintain their stability and flexibility.

 

Budget Well

Budgets are significant because they provide financial information to support planning and operations. They are realistic and use clear and sound accountability to achieve their goals.

 

Know the Cost of Your Programs

Sound financial decisions are made based on the information that they gather. Nonprofits should also understand the costs of their programs so that they can make informed decisions regarding their fundraising needs and contract terms.

 

Diversify Your Funding Sources

Although it’s a good idea to diversify your funding sources, it can be very challenging due to the various factors that make a successful move.

 

Monitor Your Cash Flow

One of the most critical factors a nonprofit should consider regarding financial management is its cash flow. A steady flow of money can help them manage their expenses and keep their financial operations running smoothly.

 

Teach Financial Information

Developing financial literacy is also a must for influential leaders. This can be done by encouraging everyone to learn the ins and outs of financial management. The necessary skills can help them make informed decisions and manage their finances.

 

Keep an Emergency Fund

A steady flow of money can help a nonprofit manage its expenses and keep its financial operations running smoothly. A good reserve number can also help a nonprofit respond to unexpected events.

 

Maintain Accountability and Transparency

Due to the increasing number of government agencies and foundations demanding information about how a nonprofit uses its financial resources, many organizations are now adopting transparency as an essential part of their operations.

 

Remain Interdependent

The financial management of a nonprofit is tied to every aspect of its operations, such as planning, evaluation, and governance. Having the necessary skills and resources can help keep the organization running smoothly.

Tips for Growing a Philanthropic Organization: Part 2

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On August 16, 2022

In Community Engagement, Muhammad Babangida, Philanthropy

This is part two of the discussion on how to grow a philanthropic organization.

 

Demonstrate Your Impact

Building trust is also vital when it comes to establishing a charitable organization. A study by Root Cause revealed that 75 percent of donors ask for information about an organization’s impact before making a financial contribution. This is significantly higher than the 68 percent looking for information about an organization’s overhead costs and 63 percent looking for information about an organization’s social issues.

 

One of the most critical factors you should consider when establishing a charitable organization is making sure that the organization is transparent. This is very important because it lets donors know that the money they give goes directly to the cause. For instance, through the website of DonorsChoose.org, donors can see the exact titles of the books an organization has sent to the classroom. They can also see the thank-you notes that the students write after reading the books.

 

Since the inception of DonorsChoose.org, the organization has been committed to providing transparency and accountability to its donors. This is because they know they can see their impact and make an informed decision when giving.

 

Stick to Basics

Although it may seem like the basics are boring, these things will work when you start a charitable organization. While trying new social media platforms or methods may be tempting, you should not prioritize these things over the organization’s fundraising fundamentals.

 

New tools may be tempting, but they should not be considered a replacement for the organization’s existing resources. Instead, they should be focused on developing a deeper understanding of the relationship between donors and the organization. When you deeply understand the relationship between the organization and its donors, you can make an informed decision regarding investing in new technology.

 

One of the essential factors that you should consider when it comes to establishing a charitable organization is developing a solid direct mail acquisition strategy. Although it may seem daunting, Grow noted that it is crucial to be smart about it. She said that one should be able to understand the market, and the other should compensate for what is beyond their expertise.

 

One of the most critical factors you should consider when establishing a charitable organization is developing a robust direct mail acquisition strategy. This strategy should be able to generate solid leads and grow the relationship with its donors.

Tips for Growing a Philanthropic Organization: Part 1

By

On August 16, 2022

In Community Engagement, Muhammad Babangida, Philanthropy

The goal of a charitable organization is often to get bigger. This makes sense, as the more it can grow, the more it can make a difference. Unfortunately, growing a nonprofit organization can be challenging. 

 

Even though most nonprofit organizations are small, the big organizations have to start somewhere. This is because growth is achievable, especially if you are willing to put in the work required to get the job done. Unfortunately, many factors go into running a successful nonprofit, and we won’t try to solve them here. However, we can help you navigate through these obstacles and give you some ideas on how to grow your organization.

 

Utilize Your Existing Resources

Even the most prominent organizations can operate on a tight budget. However, smaller organizations have more difficulty attracting and retaining the right staff members. One of the most critical factors you should consider when growing a nonprofit is having the proper amount of staff time. Having the proper amount of staff time is also vital to ensure that the organization can reach its goals. 

 

Smile Train, a New York-based organization that provides cleft lip and palate surgery to children in developing countries, uses a model known as a “teach a man to fish” method. This goal is to train local surgeons with a small team from the organization. The organization uses this method to help expand its operations.

 

Stay Mission Focused

There is a fine line between spreading yourself too thin and doing more with less. It may take time to balance doing more with less and ensuring that the organization is focused on its mission. One of the essential factors you should consider when it comes to growing a charitable organization is ensuring that the new initiative or task is in service of the mission.

 

Establish Trust

Many organizations are involved in the charitable world and must maintain their integrity. One of the most critical factors you should consider when it comes to growing a charitable organization is making sure it is transparent. This is very important to ensure the public can see how the organization runs.

 

An increasing number of philanthropists expecting more transparency from their organizations also contributes to the growth of charitable organizations. The younger generation of donors is more likely to donate when the organization has a connection to its mission.

Engaging with Nonprofit Donors

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On May 26, 2022

In Muhammad Babangida, Philanthropy

Although every contribution is essential to a nonprofit, recurring donors are the organization’s most valuable asset. They are the ones who give year after year and are typically cheaper to acquire than one-time donors. They also give 42% more annually. Nonprofits can also benefit from the lower cost of acquiring and retaining these types of donors.

Over a lifetime, recurring donors can give more than one-time donors. They are also more likely to give more than they did one year ago. However, this type of giving requires more than just a set strategy and a good website. It involves cultivating a relationship with the donors and making them feel valued.

The concept of donor engagement refers to the interactions between a nonprofit and its donors. It involves developing a strategy that includes the various activities and methods that you use to make sure that the donors feel valued and that they are receiving the best possible service.

Aside from regular donations, having a well-designed and executed donor engagement strategy can also help nonprofits secure in-kind gifts, as well as other support. It can also encourage more giving by sharing your message with potential new donors. Having a good website can also help a nonprofit expand its reach and attract more potential donors.

  1. Utilize Social Media

One of the most frequent actions that a donor takes is interacting with an organization’s social media. Having a good website can also help a nonprofit expand its reach and attract more potential donors. It can also help the organization share information about its programs and services.

  1. Make Interesting Multimedia

Instead of writing long emails or Facebook posts about everything that’s happening in the organization, use interactive or video content to help your website visitors engage with your message. Use various forms of media to capture the attention of your audience and make them engage with your content. Doing so can help keep your website visitors coming back to it. One of the most important factors that you should consider when it comes to developing multimedia content for your website is ensuring that it meets accessibility standards. Having a well-designed and executed website can also help boost the donations of your organization.

  1. Be Authentic

Trust and transparency are becoming more important to donors due to the increasing number of questions they have about the messages that are presented to them. For instance, Gen X and millennials have grown up questioning the messages that are presented to them. Having peer testimonials can also help boost the credibility of your message.

  1. Make New Donors Feel Valued

One of the most important factors that you need to consider when it comes to converting one-time donors into recurring supporters is finding a way to make them part of the organization’s long-term strategy. Having a donor stewardship plan can help you develop a strategy that will allow them to follow the donations they make.

A donor stewardship plan can also help you develop a strategy that will allow you to engage with one-time donors in a variety of ways. It can help you identify the types of people who are interested in giving, as well as the times and activities that they can participate in.

Characteristics of the Best Philanthropists

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On March 31, 2022

In Community Engagement, Muhammad Babangida, Philanthropy

People who are philanthropists are individuals who want to make a positive difference in the lives of others through the donation of their assets and services. They come from various socioeconomic backgrounds, and there are many characteristics that they share.

  1. Desire to Improve Lives

People who are philanthropists show a deep concern for the well-being of others. They do not expect recognition or compensation for their efforts.

  1. Understand Others’ Struggles

Philanthropists are likely to be sensitive to the struggles of others. They are obligated to do what they can to make them better.

  1. Strong Social Awareness

Philanthropists are also open-minded individuals who are aware of their surroundings. They seek to understand the motivations of others in order to improve their lives.

  1. Future-Focused

People who want to make a positive difference in the world tend to look beyond the immediate issues and focus on the long-term goals of improving society. They realize that it is important to address the underlying issues in order to make lasting changes.

  1. Involved in Government

As philanthropists, they are also advocates for political change. They believe that it is important to advocate for social change in order to make it happen. This is because it allows for progress on a broader scale.

  1. Tackle Individual Issues

Instead of supporting organizations, successful philanthropists seek to support specific causes. They first identify the issue they would like to see change in, then look for organizations that can help make it happen. They then use their own resources and those of other groups to find the best solution.

  1. Utilize Business Principles

Philanthropists typically look at their contributions as an investment in society, and they use the money and resources efficiently. Similar to business leaders, successful philanthropists use their networks to promote a cause. They do not exclusively support nonprofit organizations, but they also support for-profit ventures and legislative initiatives.

 

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