Your organization is up and running and you feel good about your mission and goals. And, at the same time, you could use a little more money. Let’s face it; fundraising is essential to the health of your organization. Having more cash can help you achieve your mission.
The recent BDO Benchmarking Nonprofit Survey states:
Loss of revenue can be devastating for nonprofits, and 40 percent of organizations list it as a concern for their board. To supplement a potential loss, organizations should maintain adequate operating reserves (liquid unrestricted net assets). The nonprofits surveyed maintain an average of 8.7 months of operating reserves. However, a plurality (40 percent) maintain between one month and less than six months of reserves.
There are a few actions your organization can take to increase its income without putting out a lot of money. By implementing a few changes you could put more “change” in your organization's coffers.
1. What makes your cause the best?
Consider what makes your organization different from others. What do you offer that others don’t? Why should someone choose you over other causes competing for the same donor dollars?
Put on your thinking cap and come up with the differentiators that distinguish you from other nonprofits. Your advantages could be your cause, your location, your donor base, the quality of your board, your strategic alliances. All these factors help determine why your organization is different and worthy of support. Listen to your message to the community and make sure it speaks your goals.
Evaluate your mission statement and
be certain it incorporates your
distinguishing characteristics.
2. Step back and look at your board.
Are the members networked into the community with unique contacts? Does each board member bring special acquaintances and involvements into the picture? Are board members willing to bring their network to support your cause?
Board members with varied and
assorted connections bring an exciting mix
of contributors who can up-the-revenue
for your organization.
3. Welcome the best staff and keep them engaged and productive.
Your team carries your organization. They hold it up and move it forward. However, a few straggling individuals can drag down the whole effort. Consider complaining, unfocused, and distracted attitudes that negatively impact the feelings and opinions of other team members. A disruptive or ineffective person can bring down your organization--whether it is an employee, board member, or volunteer.
Invest effort and time in working with these individuals and showing empathy to them. Is there something the organization can do to improve the individual’s dedication and purpose? If not, then it is probably best for the good of the organization to let this staff member go on to different pursuits. It takes the right person with the right amount of responsibility to give you peak performance. Letting someone go is tough to do. Nobody likes to see someone go. However, it is essential for a healthy environment and for the betterment of the other team members. Get it done, and push on.
Team members that have that
"infectiously" positive attitude will
guide everyone in your efforts and
should be in a leadership position.
4. Acknowledge problems
--and get to solving them.
Procrastination never solved a situation or problem. Take immediate action when you identify a snag in the operation of your organization. No one likes to admit a problem, or take the steps to face conflict and resolve issues. The best approach is to step forward an make a critical call and follow-through with it. Eliminate a simple problem before it grows into a giant disaster.
Step forward,
make a critical call,
and follow-through right away.
5. Look beyond your organization.
Make sure your organization is functioning under great leadership. Analyze your leaders and how they make decisions and how well they perform. Do they really contribute to the progress of the organization? Are they presenting a unified and successful image to the local community, benefactors, and stakeholders? People who scrutinize your organization are considering many factors that determine whether they invest in your organization. You need to look at the big picture and view how others perceive your organization. Be a cause that advocates wish to support.
Make sure you are recognized for
your leadership, strategies,
and performance.
Applying any of these actions can help you reach your organization’s financial goals. There is always room for improving performance and there is always room for more funding. Polish your performance and earn more respect and financial support.
When you have questions or need help improving performance, we have ideas to share and solutions to management and organizational questions find as at tbfosteracocunting.com. Keep in touch with our blog. If you have questions about any other not-for-profit industry topics, contact our not-for-profit team leader at trent@tbfosteraccounting.com.
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