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Nonprofit organizations need financing when contributions to fund their day-to-day operations and programs are lacking. Such expenses are normally tax-deductible. Veillon Business Consulting LLC loves to empower nonprofits trying to bring their vision into the world. We strive to align our non-profit clients with sources of adequate funding in such delicate times so that the organization can continue its mission unimpeded, and meets its obligations for the month, the next quarter, or even the next year.
We also may, at times, be able to help to locate institutions that can connect the non-profit client with other sources of funds, such as individual donors, institutional donors, board contributions, government grants, cause marketing partnerships, and earned income ventures, for a similar nominal fee.
Though usually smaller than other sources, individual donors may be sourced to supplement a significant percentage of a nonprofit’s income. Successful nonprofits generally are those that find services and/or advocacy opportunities at a grassroots level. Individual donors can thus become committed long-term supporters and even partners if you provide them with meaningful ways to be directly and symbolically involved and with the organization’s core mission.
Grant organizations and foundations, such as those contributing to the One Campaign, can be large sources of long-term income for non-profits. Bigger grant-dispensing outfits typically provide grants to nonprofits whose mission and impact match their areas of specialization. Religious organizations and civic clubs with like-minded missions can be a significant source of funding for nonprofits with humanitarian-focused missions. The opportunity is seen as a welcome win-win.
While less common a source, smaller nonprofit organizations, in particular, may opt to seek out contributions from board members. Likewise, taking on eligible board members into your nonprofit can help to better ensure your nonprofit’s survival into the future. It’s often wise to seek out such potential guiding members early on, but this can take shape at any time in the life of the nonprofit, depending upon the need.
Government sources offer an avenue with numerous opportunities and should not be overlooked. Local, state and federal governments offer considerable funds to nonprofits in the form of grants. Government funds can come with obligations, but their community-focused mission-neutrality is often considerably more open. Funds may be more strictly regulated and audits often come with the territory.
Earned Income Ventures
Due to recessionary and other concerns, many nonprofits gravitate toward earned income ventures which can endure the financial droughts caused by not generating an income as a nonprofit. Earned income may be small compared to other sources, but a profit-making aspect of the nonprofit helps to guarantee reliable income levels in all economic climates.
The most common and simplest of these is a profit-making business run by the non-profit, directly channeling proceeds back into the organization. This is allowable and justifiable as a way to making the non-profit sustainable by providing a service directly on the open market. Corporations and local events can utilize the opportunity to advertise with the non-profit venture and secure brand equity in the process.