Diversified Revenue
A recent article in Nonprofit Quarterly called attention to nonprofit and charity organizations becoming increasingly dependent on government financial support. President of the William E. Simone Foundation James Piereson notes that nearly one-third of all revenue to nonprofits comes from government.
Author Michael Wyland expands on how this dependency undermines the agency and integrity of nonprofits by giving up their ability to make decisions exclusively.
Nonprofits must be able to diversity their revenue and support channels to ensure that their resources will be used towards their cause based on their vision.
A portfolio of local and nation grants from businesses, foundations, or individuals, when tapped strategically, can bring in a large amount of support. According to Giving USA, total charitable giving in the U.S. reached more than $298.4 billion in 2011. Of that amount 73% came from individuals. Think about your project's goals and mission, and then research groups that share similar interests. Any contradicting or compromising stipulations within a grant will create tension later.
Fundraising events are key to the long term financial sustainability of nonprofits. Successful events can, when done effectively, not only bring in healthy revenue but also build strong relationships with donors. Using sponsors to cover overhead costs such as venue space and food will save your organization time and resources.
Here are 3 points to consider when pitching a potential partner.
http://nonprofit.about.com/od/fundraising/a/fundraising101.htm














