Philanthropy for Development A Financial Management case study with  The Monterey Jazz Festival
Purpose: <ul><li>The purpose of this research is to shed new light on the activities of philanthropy and it’s importance t...
Mission <ul><li>The Monterey Jazz Festival is dedicated to perpetuating the uniquely American form of music known as jazz ...
History <ul><li>The Monterey Jazz Festival has been held annually since 1958 </li></ul><ul><li>MJF is a 501 C 3 nonprofit ...
Competition  and Aspirant Organizations <ul><li>Aspirant Organizations: Similar organizations that strive to achieve simil...
Where does Philanthropy for Development come from? <ul><li>The life cycle begins with: </li></ul><ul><ul><li>Grants </li><...
Previous Growth Factors <ul><li>Grantwriting </li></ul><ul><li>* Increased investment </li></ul><ul><li>Human Resources </...
New Financial Growth Strategy <ul><li>3-5 Year Plan </li></ul><ul><li>Research </li></ul><ul><li>Stewardship </li></ul><ul...
Regional Communities Project <ul><li>Actors: Ambassadors </li></ul><ul><li>Purpose </li></ul><ul><ul><li>Exposure </li></u...
Key Findings <ul><li>Varied funding sources have been effective and sustainable </li></ul><ul><li>Efficient organizational...
Recommendations <ul><li>Beware of over-reliance on charitable donations </li></ul><ul><li>Emphasize larger donors in order...
Growth Projection
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M J F Finance P P T

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M J F Finance P P T

  1. 1. Philanthropy for Development A Financial Management case study with The Monterey Jazz Festival
  2. 2. Purpose: <ul><li>The purpose of this research is to shed new light on the activities of philanthropy and it’s importance to the financial management of a nonprofit organization. </li></ul><ul><li>I worked with Paul Mondestin, Director of Development at The Monterey Jazz Festival throughout the past year, meeting regularly and he provided extensive information regarding the financial management and philanthropic activities of MJF. </li></ul><ul><li>By interviewing staff, reviewing financial statements and analyzing their philanthropic activities I have learned about where the money comes from and goes to in a dynamic and enduring non profit organization. </li></ul>
  3. 3. Mission <ul><li>The Monterey Jazz Festival is dedicated to perpetuating the uniquely American form of music known as jazz by producing performances that celebrate the legacy and expand the boundaries of jazz; and by presenting year-round local, regional, national, and international jazz education programs. The Monterey Jazz Festival is a nonprofit organization and has donated its proceeds to musical education since its inception in 1958. </li></ul>
  4. 4. History <ul><li>The Monterey Jazz Festival has been held annually since 1958 </li></ul><ul><li>MJF is a 501 C 3 nonprofit organization </li></ul><ul><li>Proceeds have funded musical education since it’s inception. </li></ul><ul><li>The 50th Anniversary achieved unprecedented growth for MJF </li></ul><ul><li>Currently the MJF employs 9 full-time staff members </li></ul>
  5. 5. Competition and Aspirant Organizations <ul><li>Aspirant Organizations: Similar organizations that strive to achieve similar goals through like activities </li></ul><ul><li>* Identifying aspirant organizations helps to identify opportunities for partnership, areas of competition and new strategies for growth </li></ul><ul><li>MJF’s aspirant organizations include: </li></ul><ul><ul><li>San Francisco Jazz (SFJazz) </li></ul></ul><ul><ul><li>Jazz at The Lincoln Center (NYC) </li></ul></ul><ul><ul><li>The New Orleans Jazz Festival </li></ul></ul><ul><li>MJF has several enduring partnerships as well as competitors </li></ul><ul><li>Compared to their aspirant organizations, Monterey has a small staff </li></ul>
  6. 6. Where does Philanthropy for Development come from? <ul><li>The life cycle begins with: </li></ul><ul><ul><li>Grants </li></ul></ul><ul><ul><li>Donors </li></ul></ul><ul><ul><li>Planned Gifts </li></ul></ul><ul><ul><li>Sponsors </li></ul></ul><ul><ul><li>Endowment </li></ul></ul>
  7. 7. Previous Growth Factors <ul><li>Grantwriting </li></ul><ul><li>* Increased investment </li></ul><ul><li>Human Resources </li></ul><ul><li>* Events Coordinator </li></ul><ul><li>* Contractors </li></ul><ul><li>50th Anniversary </li></ul><ul><li>* Value added </li></ul><ul><li>Strategy </li></ul><ul><li>Capacity Building </li></ul><ul><li>Retention </li></ul><ul><li>Characteristics </li></ul><ul><li>Maturity </li></ul><ul><li>Loyalty </li></ul>
  8. 8. New Financial Growth Strategy <ul><li>3-5 Year Plan </li></ul><ul><li>Research </li></ul><ul><li>Stewardship </li></ul><ul><li>Regional Communities </li></ul><ul><li>Legacy Circle </li></ul><ul><li>Strategy </li></ul><ul><li>Development </li></ul><ul><li>Communication </li></ul><ul><li>Digital Approach </li></ul><ul><li>Green Marketing </li></ul><ul><li>Characteristics </li></ul><ul><ul><li>Sustainability </li></ul></ul><ul><ul><li>Efficiency </li></ul></ul>
  9. 9. Regional Communities Project <ul><li>Actors: Ambassadors </li></ul><ul><li>Purpose </li></ul><ul><ul><li>Exposure </li></ul></ul><ul><ul><li>Research </li></ul></ul><ul><ul><li>Regional Leaders </li></ul></ul><ul><ul><li>Shared Vision </li></ul></ul><ul><ul><li>Activity-based outreach </li></ul></ul><ul><ul><li>Recognition </li></ul></ul><ul><li>Desired Outcomes </li></ul><ul><li>Community Network </li></ul><ul><li>Legacy Circle </li></ul><ul><li>Planned Giving </li></ul><ul><li>Endowment </li></ul>
  10. 10. Key Findings <ul><li>Varied funding sources have been effective and sustainable </li></ul><ul><li>Efficient organizational structure for sustainability, but not increased growth </li></ul><ul><li>Substantial growth from 2006-2007 </li></ul><ul><ul><li>Growth due to new grant proposal writer, increased capacity, employee retention and charitable giving </li></ul></ul><ul><li>Ticket sales are a primary source of income </li></ul><ul><li>Effective balance of restricted and unrestricted funding </li></ul>
  11. 11. Recommendations <ul><li>Beware of over-reliance on charitable donations </li></ul><ul><li>Emphasize larger donors in order to increase endowment </li></ul><ul><li>An enhanced Development department would facilitate growth and new projects and activities </li></ul><ul><li>Protect the endowment by monitoring investments and increasing savings </li></ul><ul><li>Beware of the over-involvement of financial contributors in management </li></ul><ul><li>Increase documentation of financial data to record growth and cash flow </li></ul><ul><ul><li>Identify direct and indirect costs in financial statements </li></ul></ul><ul><li>Keep expectations realistic </li></ul><ul><ul><li>Do not over-anticipate expected gains </li></ul></ul><ul><ul><li>Plan a budget for the best and worst case financial scenarios </li></ul></ul>
  12. 12. Growth Projection

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