Monday, May 23, 2011

Looking for Funding?

This month’s Added Value gives nonprofit leaders an overview of one of the seven key sources of nonprofit income: government income. The article includes information about the three sub-categories of this funding sources and the steps a nonprofit needs to take to earn it. Here is an excerpt about the benefits of this source:

What are the benefits of government support?

· Significant Money. Government funding ranges from around $20,000 and reaches to multimillions. Individual donations, by contrast, start with $20 or $100 gifts.

· High Need. Government funds often help pay for needs that have low individual donor appeal, but high societal need like help for parents who abused their children, juvenile delinquents, or adults with mental health problems.

· Persuade Few. You only need to convince a handful of decision makers of the your work’s merit, like county commissioners, panel members, and staff. In contrast, individual donor databases include thousands of names.

· Renewal Opportunities. With contracts and grants, successful early birds often learn and successfully apply the rules of the game. These rules act as barriers that discourage new entrants.

To read the article, click here. To learn more about the seven income sources, subscribe to Added Value. Recent issues covered individual giving and mission earned income.

Thursday, May 5, 2011

Got Fresh? 8 Ways to Immerse Yourself in New Income Possibilities

If a picture is worth a thousand words, what value does an inspirational idea have when it helps you to solve a challenge? A library? Maybe an warehouse? When money seems like the obvious stumbling and impossible to earn, you need to find new ways to look at your situation. Have hope. You can solve your challenges. Over the last seventeen years, my work has been known for its innovation and creativity. Here are eight sources of inspirations I use when I need ideas to help nonprofit leaders deliver on their missions’ including the money to fund it. Pick one or more of the following and get fresh.

1. A children’s or teen book on the topic.

2. An adult book on topic—something old that you haven’t read in several years or something new.

3. New research on topic. Read whole articles or just the abstracts.

4. Art. How do artists depict the area you serve?

5. Scan new and old media: TV, video, newsletters, YouTube, ads, podcasts, and listservs.

6. Others like you. Visit nonprofits in an adjacent city when you travel. If you can’t afford the time, visit their websites. Call to introduce yourself and learn more.

7. Others not like you but who share the same or a similar need. How has the construction or another industry handled it? What would a past or current presidents do? How would someone whom you admire solve it?

8. Call on an expert. Consultants and national nonprofit service groups offer advise, articles and materials to help.