'What's Trending?' for June 2024

BrightKey has clients from many industries, which gives us a comprehensive view of what's going on across different business areas. Here are some things we have seen trending this month.

Here's 'What's Trending' for

June 2024

This month we are featuring tips gained from working with our many Non-Profit and Association clients.

Reminder: USPS Rate Increase in July

On July 14, 2024, USPS will implement a 7.8% increase in mailing service prices, raising the First-Class Mail Forever stamp to 73 cents. Non-profit organizations must quickly adjust their mailing strategies to account for these changes.

?

Communicate Early for Effective Membership Retention

As membership strategies evolve, some fundamentals never change. Focusing on the first element of the CARE philosophy: Communicating early. By proactively reaching out to members with timely and relevant information, we can address concerns before they arise and reinforce the value of their membership. This forward-thinking approach helps retain members, builds trust, and strengthens our community. Early communication is key to member loyalty and engagement—plan ahead and watch your membership thrive. And if you're looking for a partner to help execute your CARE plan with precision and passion, turn to BrightKey—where nurturing membership is not just a service, it's our promise.

?

House Bill Demands More Transparency for Nonprofit Foreign Grants

A current bill in the House, the Foreign Grant Reporting Act (H.R. 8290), mandates 501(c) organizations to disclose grants to foreign entities in their IRS returns, including indirect contributions like subgrants. This change extends the existing requirements for private foundations to public charities and other 501(c) organizations, aiming to increase transparency but potentially posing risks for recipients in sensitive areas. The broad definition of indirect contributions may also complicate compliance. Nonprofits should review their reporting processes to ensure they meet these new requirements and mitigate any associated risks.

?

If you'd like more information about any of these opportunities, please contact Zach Bradshaw. [email protected] 301-604-3305 x 1170.