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Organizational survival is a primary current focus, as the unforeseen economic effects of the pandemic ravage the civil sector. Over time, however, we turn to questions of resilience: How can organizations prepare for rare, but devastating, financial shocks? Three months of funds to cover operating expenses are often described as a suitable savings target. However, organizations differ greatly in their revenue volatility, which suggests that "3 months" may severely underestimate the reserves that certain organizations should hold. We measure revenue volatility and calculate reserve fund targets for 25 nonprofit subsectors, showing sharp differences in optimal savings levels ranging up to 1 year of total expenses. We also explore organizational characteristics associated with revenue volatility. We argue for a resilience strategy that goes beyond optimizing the contents of the revenue portfolio. Funders and nonprofit practitioners should consider the broader context of financial resilience that includes correctly sized reserves as a stabilizing force. [ABSTRACT FROM AUTHOR]

This study examines place-based philanthropy in public ancillary funds (PubAFs) in Australia. While PubAFs vary greatly in their purposes, stakeholders, and operating models, place emerges as a strong element of foundations' perceived identity, strategic focus, and grantmaking. This article advances the understanding of philanthropic giving by investigating and identifying the perceptions of place by PubAF managers and trustees, contributing to a novel and valuable "insiders" perspective on PubAFs. Drawing on Agnew's three elements of place, namely location, locale, and sense of place, key findings highlight PubAFs' ties to place in multiple contexts and dimensions. This qualitative study contributes to understandings of the ways in which place shapes and defines giving by public foundations, overlaps and interacts with foundations' mission and strategy, and affects philanthropic impact. [ABSTRACT FROM AUTHOR]

This research explores perspectives on the accountability of Private Ancillary Funds (PAFs), a type of Australian endowed philanthropic foundation. PAFs are relatively new giving structures that have experienced strong growth over the past 15 years. With limited regulatory obligations and exemptions available from public reporting, PAFs have discretion in various forms of public accountability. Using Ebrahim’s conceptual framework of nonprofit accountability, this study explores PAF accountability in terms of to whom, for what, how, and why, examining tensions between PAFs’ private form and public purpose. Through in-depth interviews with managers and trustees of 10 PAFs, findings reveal that PAFs engage in accountability for internal reasons relating to their mission and purpose, and their desire to lead others in philanthropy. PAFs are influenced by philanthropic peers, in particular other PAFs; but their accountability does not necessarily include public disclosure or transparency. Four variations to Ebrahim’s accountability framework are proposed. [ABSTRACT FROM AUTHOR]