Monday, March 22, 2010

Karen’s Facts of Life about Money

Do you need more cash for your nonprofit? Nonprofit leaders always answer yes to that question. This month’s Added Value, a monthly newsletter for nonprofits, contains a dozen facts about nonprofit money. Here are two from the lead article:

3. Know Thy Sources
Individual contributions are fabulous because of their flexibility, but
the majority of nonprofit income year-to-year is earned income. Action: Know the sources of your organization's income and how they compare to nonprofits in general (see Where Do Nonprofits Derive Funding? and Where Do Nonprofits, Except Healthcare, Derive Funding?) This knowledge will help you to make faster and more effective decisions about resource development.

10. Easy Money
Along the way, you will obtain some easy money. Easy money is an exception to the rule -that proves the rule. After you win at the easy money cash machine, avoid lingering around it for another hit. Too many organizations waste resources trying to get easy money sources to produce again. True opportunities follow consistent and proven preparations. Action: Undertake consistent actions to increase your income from sources that consistently provide nonprofit income.

For the rest click here.

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