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.

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