Maximizing Your Giving Impact

Cindy Peterson wants everyone to view themselves as a philanthropist, whether that means giving of your time, talent, or treasure. The founder and CEO of Maximizing Excellence, a nonprofit consulting company in Sioux Falls, SD, joins Adam to discuss maximizing your impact no matter your financial situation.

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Transcript

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- Time, talent, and treasure. How to maximize your giving.[energetic drums music] Welcome to "Common Cents on the Prairie," a podcast dedicated to helping you demystify the sometimes complex topic of money. I'm Adam Cox, head of Wealth Management for The First National Bank in Sioux Falls. We're a community bank based out of South Dakota. In this podcast, we share expert insights from around the country and stories from our local community to arm you with the tools you need to make better financial decisions because the truth is, the more we talk about this stuff, the better off we're all going to be. Driven by her passion for making a difference, Cindy Peterson has dedicated her 24-year career to providing people and organizations efficient resource development, strategic planning, and nonprofit capacity building methodologies and outcomes. In 2010, she took her unique ability to unite people with a common goal and founded Maximizing Excellence LLC, where she and her team of six have led more than 150 organizations across eight states to fulfill their mission and multiply their impact. Cindy's passion for helping others can also be seen in her own philanthropy where she and her husband, Kent, support more than 20 different organizations with their time, talents, and treasure. Cindy is a certified fundraising executive and holds a master of social work degree from the University of Nebraska, Omaha. Her direct, often bold approach, combined with her creative problem solving skills and never quit attitude, has earned Cindy a reputation as the go-to for fundraising in Eastern South Dakota and sought after speaker in her industry. I hope you enjoy my conversation with Cindy Peterson. Cindy, welcome to the show. Thanks so much for joining me.- Thank you for having me.- Ah, this would be great. All right. So I love to start these episodes at the beginning, love to hear about people's background, especially when I think it impacts what they do for a living. So I'd love to get your story on what you were first exposed to giving and what you took from that experience.- Absolutely. I think my exposure to giving didn't really sink for me until maybe even just a couple of years ago,- Really?- Because it was just an innate part of my childhood.- [Adam] Okay.- And when I think back about it, it really started as a little girl at church with my mom on Sundays. And my mom is a gorgeous pianist.- [Adam] Okay.- And so, she played the organ at church every Sunday. And sometimes I would sit with her on the bench and sometimes I would sit with friends or other family.- Yep.- And that's what my Sunday mornings were like. And we'd leave.- [Adam] Yeah.- And before we did, we would, she would stop in the church office -- [Adam] Okay.- every single Sunday. And she opened this drawer, and I remember this so vividly, and there was a little check in there, and it had her name on it. She took that check, she flipped it over, she signed it, she put a note on it, and she put it back in the drawer and off we went with whatever Sunday had to bring. And how that really transformed me looking back, right? At the time, it's just was part of a routine.- [Adam] Yeah.- And really, what I realize now is she was teaching me the beauty of giving back, and she was sharing her beautiful talent. She shared her time with what really became a family to us at church, and those dollars were intended for her and she turned them right back to the church.- Yeah. So a lot of times when we talk about giving, it's time, talent, treasure, she did all of that in one fell swoop.- One fell swoop.- That's awesome.- [Cindy] Yeah.- Cool. Well, tell me a little bit about your background and how did you get into this line of work?- Yeah, I think most people who come into this work stumble upon it.- Okay.- There certainly weren't courses on philanthropy. There weren't courses on fundraising 20, 30 years ago.- [Adam] No.- It's really something you learned by doing and you hopefully learned it from someone who had learned to do it the right way as well. So my background is actually social work.- [Adam] Okay.- Not everybody knows that about me. So I chose social work because it's, to me was the shortest distance between who I am and being able to impact people and change their lives.- Hmm.- What I learned very quickly is that what most people think of social work which is direct service or working with clients or families, or kids, or different populations directly, I was not cut out for direct service. It did not suit my personality. So for a moment in my young adult life, I felt stuck because I didn't know how I was going to fulfill what I believed I was meant to do.- Sure.- And that's when an internship turned into a job opportunity, and it turned into some amazing mentorships around the world of fundraising.- Hmm. Well that's awesome. I know, I remember you telling me at one point, yeah. Maybe it was in your first role or a subsequent role, you started to interact quite a bit with business leaders around the community. How did those interactions, whether it was, you know, an executive or a business owner, how do you think those interactions changed the course of your career?- Well, I can't imagine I'd be anywhere where I am today without those interactions.- [Adam] Okay.- Really, what it turned into were teaching opportunities. I was so fortunate at a very early stage in a career to be exposed to community leaders. Very few individuals in their late twenties and even in their early thirties, get a chance to work with essentially every influential community leader directly.- [Adam] Yeah.- And so, when I would go and spend time with those individuals, I would ask them as many questions as they would possibly endure. And I would ask them why?- [Adam] Yeah.- Why? When they are leading a company and have so many objectives and goals in front of them, why would they choose to share their time, their talent, and their treasure with a community organization? And their answers were varied, but they all really circled back to purpose, identity, and community.- Hmm. Oh, that's interesting. Do you think those conversations in some way shaped you becoming a business owner versus just working for somebody else and fundraising for one organization? Or, you know, you saw them, you saw the business owners and how they worked. Did you, did that spark something in your head? Like, maybe I want to be a business leader like that at some point?- It's an interesting question to be asked. My answer is no.- Okay. Interesting.- Starting a business really came through some life opportunities and just a lot of things that happened very quickly. I would say more so with the business leaders, is they modeled for me how to build team.- Okay.- They all did it very, very differently, right? Some led very quietly.- [Adam] Yep.- Some led through example, some were leading teams of dozens and one hundreds.- [Adam] Yep.- And some might have had teams of three or four, but how they went about prioritizing all of those individuals, helping them find their strengths and bringing that to a common goal, I think that's probably, Adam, what I took away most.- Hmm.- I think I also learned how I didn't want to do some things.- [laughs] Yes. Yeah, yeah. We all give good examples of that at times.- Often.- Yes. Okay. Well, tell me a little about your firm, Maximizing Excellence-- Yeah.- and the work you all do,- Maximizing Excellence, we partner with people and organizations that want to improve their effectiveness and achieve high impact.- [Adam] Okay.- We do that mostly in the nonprofit sector. Those who have five seconds to describe what we do would refer to us as nonprofit consultants.- Okay.- We spend a great deal of our time doing fundraising, resource development. We help organizations with capacity building. We help them with strategic planning, and we also make sure that the individuals involved in that work are equipped to bring their mission to life. If they can serve more people because their organization has more resources, their staff is more equipped, they are more confident and are able to get from point A to point B more quickly. That honestly, Adam, is how I get to be a social worker.- Mm.- I might not meet the individuals that are impacted by these organizations, but I know that if every single one of these organizations can live their mission more effectively and more efficiently, I do get to be a part of changing those people's lives.- Yeah. Well, that's awesome you recognize that about yourself. I recognize that about myself early on too. I really struggle with direct service. I always have. And so, as part of self-awareness and part of just knowing yourself and saying, I want to be able to give back. I am passionate about this mission, but maybe I just need to do it another way. And it sounds like you've been able to do that which is awesome.- You know, in the beginning, I felt that there was something missing from my skillset. There was something missing from the tools that I needed to be able to contribute.- [Adam] Yep.- But it's really what you just said, and that with a lot of soul searching and a lot of pause, I was able to realize that these unique traits that didn't always fit-- [Adam] Yeah.- that's exactly what I was meant to contribute.- Hmm. What a gift. So philanthropy is a big word, Cindy. How would you describe to someone who's like, well, what is philanthropy? How would you describe, define that word?- Yeah, philanthropy is anyone's contribution to something bigger than themselves.- Okay.- And so, often, people talk about philanthropy as being giving of money. A lot of people associate philanthropy with individuals who give a great deal of money. And I love that I see philanthropy differently.- [Adam] Yeah.- I love that philanthropy to me is more holistic and more inclusive. Any individual who gives any amount of time, shares any talent, gives any treasure of any amount, by definition, is a philanthropist.- [Adam] Hmm.- And I think that is a wonderful thing to be.- Oh, that's interesting because when I hear the word, philanthropist, I always think about somebody who's giving away millions of dollars a year. And I was struck by when we talked that you mentioned you want everyone to see themselves as a philanthropist which I thought was a really cool way of reframing that.- Yeah.- Yeah. That's awesome. Let's talk about giving a little bit.- Okay.- Do you think that's a learned behavior?- Absolutely. Giving is a learned behavior.- [Adam] Okay. Yeah.- I don't know very many individuals who wake up in the morning and say, you know, instead of buying that new pair of shoes that I want, or buying those concert tickets that I can't wait to have in my hand, I'm going to give those dollars to an organization or to our entity that I may never see come to fruition.- [Adam] Yeah.- That's something that we learn because we've seen it happen. I learned it from my mom. I learned it from those community leaders. And I think it's something that we learn at a very young age, either through family or through faith. And then there's this a whole new phase where we can learn philanthropy as adults. And I think we learn that from our peers. And I think we can even learn it in our workplace. And it's a different way to bring in philanthropy. But I don't know very many people who just decide that's part of who they are-- Yeah.- without seeing it done in others.- Yeah. Well, I think that's, those comments are good to hear. I mean, we work with a lot of very generous people, and I think one of their biggest concerns, to be honest with you, is how to instill that spirit of generosity into that next generation. And they don't know quite how to approach that. So from our chair, you know, I'd love your advice, and for people out there listening to it may be struggling with, how do I get my kids or get my kids or grandkids to be generous. Do you have any advice for how to approach that?- I would say make it tangible-- [Adam] Okay.- And make it really, really personal.- [Adam] Okay.- So often in today's society, with the way money travels and the way things are paid for, we don't see dollars exchanged. We don't physically see someone take a check and sign it and do something with it. And so, where I look back and that's how I absorbed it, even if that's not what we talked about, I saw it. It was very real for me. And when the way money is exchanged today is less tangible and less visible, we have to be very, very intentional to create those experiences. So it might be taking family members on a tour of an organization that as an adult or as a family you've been giving to for years, but take those individuals and your family through that organization, so that they can see the impact at work. And then what we've done at our house is that we talk about, well, you know that place that we just went and you know that organization that we just saw? Your mom and dad have been giving dollars to that organization for quite some time. What questions do you have about what you just saw?- Hmm.- We've taken our kids through a homeless shelter. Our kids are nine and 11. And when we got home, we ask, let them ask questions.- [Adam] Okay.- And we let them talk about what they were curious about.- One thing we've been trying out, especially with a lot of our high net worth clients is this idea of a family giving philosophy.- Yes.- Because I think there's that fear from mom and dad, or grandma, and grandpa, that their kids or grandkids, are not going to have the same giving philosophy which is true. They're probably not going to. But from an overarching philosophy to think what are the organizations we feel really passionately about? How can we introduce our kids and grandkids to those organizations? And how can we step into this conversation intentionally versus just leaving an organization a bunch of money in your will or your trust, and your kids never knowing anything about it. So I think that that intentionality is a really, really big thing.- And being vocal about why.- Yeah.- Why is this something that is important to invest in?- [Adam] Yeah.- Why would you like them to consider carrying on that investment? And then I think, Adam, actually, on the other side of it is asking those adult children, even those younger children, what is it that you're passionate about? What are things that you would like to support? Because your point is well made. What my kids are going to be excited about isn't going to look like what I'm excited about.- [Adam] Yeah.- But if I can create an opportunity to put some of my, right now, wealth, into things that my kids are passionate about, that becomes a really special connection that we can have. I'll help them bring their passions to realization through philanthropy and my dream. And I can speak to them that it would be my dream that they would do the same for me when my time is gone.- Sure. Love that. Well, speaking of why, what's the main reason people give?- People give because of mission, and they give because of impact. There is something that particular organization, or that particular initiative is doing that resonates emotionally. It might be a lived experience, it might be just something that connects because of the things that they've learned in their life. I think faith is a big driver of that. So mission comes first and foremost, and then people give a second time because of the impact that they saw their gift make. And again, it could be that gift of time. It could be that gift of talent, not just dollars, but if they saw an impact with their contribution, they want to make that happen over and over.- Hmm. Oh, I love that. Do you think philanthropy has changed? And if so, how has it changed?- I think philanthropy has changed.- [Adam] Yeah.- I think philanthropy long ago, really was for the few.- [Adam] Yeah.- It really was singular. But as more and more people learn philanthropy, more and more people then have influence on what philanthropy is and does.- [Adam] Okay.- And so, I'm excited that philanthropy will hopefully broaden to those of all means. I also think that those who perhaps fit in that more traditional philanthropic category are quite fatigued.- Tell me about that.- I believe that, particularly in the community that you and I both live in and love, our community has grown leaps and bounds very, very quickly. And with all of the prosperous opportunities and all of the wonderful gifts that brings to our community, it also increases the number of needs that people have. And those needs need to be met. And that often comes with philanthropy.- Sure.- And so, those who have a tradition of being known for giving are being asked to give more and more to these wider needs. And there aren't new people coming into the fold as quickly as the needs are growing. And so, people are feeling that tension. They're feeling the demand to serve-- [Adam] Yep.- to bring mission to fruition.- [Adam] Yep.- And that there aren't others coming alongside as quickly to do the same.- Yeah. I see that, especially with folks who have maybe had a liquidity event. The amount of solicitations they get is pretty astounding. And one of the things that we coach them on is just having kind of a prism through which you're going to look through whenever you get a new opportunity. Because the answer is always to say either instinctively yes or no really quickly without having some guiding principles in place. It can be really easy, I think, to get that fatigue. But if you say, no, I'm really focusing my dollars at this stage of my life and these few categories here, I think then it gets back to that mission and that impact. And it's much more exciting to do giving there versus just accepting all giving opportunities.- Saying no is hard.- Yeah.- It's rarely fun. But when you have some parameters, when you know what you want your legacy to be, when you know what you are most passionate about, when you know what you want your identity and connection to those dollars to be, that's where the joy in giving comes. And so I think helping an individual or a family through, what is it they really want their legacy to be? What is it that they really want to accomplish? It helps them hone in again on mission and impact.- Yeah. I think, I don't know if it's an upper Midwest thing or it's maybe just something I've noticed more recently is it feels like we have a lot of quiet givers in our community. Is that true?- I think that's very true.- Yeah. Yeah. I mean, there are the initiatives that get all the headlines and the spots for people to put their names on buildings and all those things and, which is great. But I've seen more often than not recently, people just very quietly giving, doing so anonymously. And it's for large amounts of money which is pretty astounding. But I think it gets back to these are the things that I want to focus our dollars on, and I don't need the recognition because the impact that it does for me is just as much as the organization.- Well, that's where I think individuals who work with wealth really need to be, in my opinion, an advocate for how those dollars can again have impact. And oftentimes, if the individuals are intending their gift to be more quiet-- [Adam] Yeah.- those who do that kind of work may not be able to connect what they're doing to the individuals who might really resonate with that mission. So the individual in between need and impact plays a really, really important role in helping that family bring their purpose to life through philanthropy.- Yeah. You made a really interesting point a minute ago about giving fatigue. And you know, I think our communities, not unlike most communities in that, especially communities that are growing as rapidly as ours, we continue to go back to the same people and the same business owners over and over again to fund those gaps. But what's interesting and difficult is business success isn't always linear. And there are dips and there's time when businesses aren't as successful as other times. You're a business owner yourself, you've, you know, had peaks and valleys for sure. How have you and your family balanced your desire to always want to be giving to the things that you care about, with the reality that, ugh, sometimes business isn't where you want it to be?- Well, it goes back to our family values.- [Adam] Mm.- And in our family, we value service and legacy. And those two words came up very, very early in my husband, Kent, in our marriage.- [Adam] Okay.- And those are words that we try to carry forward, again, with time, talent, and treasure. And that legacy piece really isn't about us. It's about the legacy that we want our kids to walk away with. And so, when we put that into perspective, philanthropy is at the top of the list. And that isn't always because there are dollars to give. And I think back specifically to Covid, my business was on a beautiful trajectory. And when Covid struck, I lost 85% of my revenue in 15 days.- 15 days.- 15 days.- Wow.- But there were still things that needed to happen. I had an amazing team of talented women that needed to be taken care of. As a mom and a wife, there were a lot of things happening that we needed to make come together. And while philanthropy wasn't top of mind in the moment, we came to year end, and we made some decisions, and we made sure that we made our gifts. And I think in some ways, those gifts are the ones that were most important that I've ever made. Because it hurt. It hurt that year.- Yeah.- But there was more joy.- [Adam] Yeah.- Because I knew, and our family knew that individuals needed those dollars more than we did. And those organizations who were doing that good work through such a stressful time, those dollars would be used in a way they never had been before.- Sure. When I imagine with that, the stress of do we write this check or not came a lot more intention, a lot more direct conversation about the impact of those gifts. Then in a good year when you say, yeah, sure, just, what are we doing this year? And then you write the check and you don't think about it. I bet in a way, that was a little bit of a gift to have those conversations at that time.- I think that's an excellent point, and you're spot on.- Yeah.- It required us to think a lot more deeply and be a lot more intentional about our dollars. And there were some organizations that we weren't able to support that year. And so, when everything is important, how do you prioritize the priorities? And it really brought us back to the things that we care about most. And looking back now where my husband and I are putting the majority of our time and our talent, I would say connect back to those conversations-- Hmm.- where we had to prioritize all these organizations that meant so much to us. Those conversations actually lifted those in a way that we now dedicate so much more to beyond just the gift.- That's interesting. So when we talk about giving and impact, we usually talk about it from the impact of the organizations or the individuals receiving the funds, but we don't often talk about the impact that can have on givers. What do you see when someone makes a gift? What kind of impact does that have on them, separate from the impact that it has on the organization?- I think it allows people to be a part of something bigger than they can do on their own. It allows people to be a part of something that maybe their own skills and their own abilities can't contribute to completely.- [Adam] Sure.- I think that the impact of giving on the individual can create tremendous joy. It can bring people together. I just think about a synergy that those dollars can do when you are amongst others, and you get to take on in that experience together. I think those are lasting impacts.- Yeah. So last question for you is, if you have any advice that you can give to people who are interested in giving, but don't know where to start? Because they can feel like there are so many organizations, there's so many needs out there. Like how do I even get started giving? What's a good place to start?- I think a really good place to start is with the individuals that help them make financial decisions in all aspects of their life. And to bring up the point and the question and rely on others to help them start.- [Adam] Hmm.- There's no reason to take that on and be overwhelmed. Go through the same financial decision-making process an individual goes through and rely on those experts.- Nice. Cindy, thank you so much for joining me. This was an awesome conversation, and thank you for the work that you're doing and not just in our community, but the surrounding communities as well. You're having an incredible impact.- I appreciate that. Thank you.- Thanks so much. I hope you found this helpful. If you did, please subscribe and share with your family or friends. If you have a topic you want us to cover in future episodes, send us a note through our website. And if you're at the point where you want an expert opinion on your finances, reach out and we'd be happy to start a conversation. And remember, any comments, insights, or strategies discussed on this podcast are intended to be general in nature and therefore, may not be suitable for you and your situation, whatever that may be. Before acting on anything we discuss, please consult with your attorney, CPA, and/or your financial advisor.