Nonprofit organizations rely on the generosity of donors for their sustainability, allowing them to solve real-world problems for those who need help. They often receive financial support from the government, private entities and philanthropic organizations, but the majority of giving comes from individual donors. Donating to these organizations allows people to pay their wealth forward. To make them even more successful in serving one of the four basic missions, financial advisors for nonprofits, like Carnegie Investment Counsel, can help.

A podcast episode of Business Made Simple (titled “Vik Harrison -- What You Really Need to Grow Your Nonprofit”) breaks down the four different categories of nonprofits, based on their mission. Hosts Koula Callahan and Dr. J.J. Peterson discusses how nonprofit organizations should approach their development the same way for-profit companies do via marketing and messaging. Vik Harrison, founder of Charity Water, advises how nonprofits can shift their thinking this way. Both Peterson and Callahan are part of StoryBrand, a marketing consultant company that helps brands and businesses clarify and transform their messaging. 

In the Business Made Simple episode, Peterson and Callahan use the following quote as a frame of reference for describing the four different nonprofits: “Give a man a fish, and you feed him for a day. Teach a man to fish, and you feed him for a lifetime.” Here’s how each of those organizations differs from one another.

Recently, Carnegie Investment Counsel Portfolio Manager/Regional Director Scott Inglis was a guest of Behind the Numbers, which is a podcast about the “real stories” behind business performance and valuation. Inglis talked with the host, valuation expert and bestselling author Dave Bookbinder. Scott provided detailed insights around demystifying noise in the market place”. Here’s an overview of the conversation.

Your relationship with your financial advisor is important. The knowledge and guidance your advisor provides has an immense and measurable impact on your life, family, and legacy. Like all relationships, contact with your advisor may ebb and flow over time. But when your wealth is on the line, a partnership that’s anything but solid should be non-negotiable.

There are several reasons why people part ways with their financial advisors. Sometimes the most optimal solution for both parties is to close the chapter and begin a new one. If you find yourself in any of the following scenarios, it might be time to find a new financial advisor.

As we progress through life, we arrive at various well-defined markers along the way, termed as life events or major milestones. These events might include earning a college education, entering the workforce, marrying, raising a family, advancing in your career and retiring. There are obviously many others you might experience during your life’s journey.

In this article, we address the financial stages of life. We look to define those phases and help you properly prepare for each stage. Goal setting is a key component of this process. Better preparation today will lead to a more beneficial outcome once you reach your retirement years.

This article was originally published in July 2021 and updated in February 2026 to reflect current information.

It’s highly common for our clients with children, grandchildren, and other family members to direct their assets to things or activities that will help those family members financially. Allocating portions of your legacy and offering financial assistance can make a lifelong impact on your loved ones. So, how and when should you get started, and what do you need to consider?

A spending policy statement (SPS) is crucial for nonprofits to ensure their funds are being spent in a way that benefits their mission, pleases their donors and adheres to legal policies. I see this firsthand as I serve as an investment committee member for my church. We meet quarterly to make investment decisions for the endowment and scholarship funds. As a Senior Portfolio Manager at Carnegie Investment Counsel’s Cleveland location, I am happy to share more information on improving a nonprofit spending policy.

The U.S. rejoined the 197-nation Paris Climate Accord. Under the accord, the U.S. has committed to reducing greenhouse gas emissions by 50% of 2003 levels. President Biden has also stated that his administration wishes to move the U.S. to net zero emissions by 2050.

There is a great deal of trepidation about the potential economic consequences surrounding this matter. The concern is that it will require a lowering of consumption in the U.S. and even our standard of life.

If these targets are not just posturing but serious goals, they may portend both large government spending and tax incentives. Rejoining the Paris Climate Accord may signify a historical capital spending boom by both government and private businesses.

One of the most important aspects of responsible financial planning is risk management. A proper understanding of risk can help you anticipate losses and gains and create an investment strategy with your financial planner as you build wealth. Assessing your risk tolerance can guide you in your investment decisions. Armed with this knowledge, you can start to see the risk of avoiding risk.

It is important to identify your financial goals, what it will take to reach those goals and understand the level of risk you are willing to take to get there. Your goals and behavior must be aligned.

Note: This article was originally published on May 27, 2021 and updated on June 17, 2026 to reflect current information.

Your nonprofit exists to serve a mission. Strong financial management is one of the things that can help to make that mission sustainable. Not just this year, but for the long term.

For many nonprofit organizations, partnering with a qualified financial advisor can provide meaningful support across investment management, fiduciary governance, and donor development. Here's a look at some of the key benefits.

Are you considering hiring a planner to help navigate your financial future? If so, do you know what financial planning entails? Financial planning revolves around taking a holistic view of a client's financial situation and advising them on how to achieve realistic economic goals.

While it seems simple enough, there are several myths surrounding financial planning that might prevent you from enlisting a planner. Let's examine four of these in detail to help you reach a better understanding of how a financial planner can meet your needs.