Fundraising has always been challenging for nonprofits striving to level-up their impact, and the current economic climate has made it even tougher. But, with creative approaches to exploring diverse revenue streams and maximizing organizational value, nonprofits can adopt innovative strategies to secure their funding and future.
Our amazing speakers -
Chris Chatmon, Chief Executive Officer, Kingmakers of Oakland
Alexandra Bernadotte, Founder & Chief Executive Officer, Beyond 12
Patrick Callihan, Chief Executive Officer, Tech Impact
Key Insights
Beyond Philanthropy (Diversifying Nonprofit Revenue)
While many nonprofits rely on philanthropy as a substantial part of their fundraising, its unpredictability for long-term planning highlights the need for revenue diversification. Nonprofits can boost their financial stability by balancing philanthropic support with alternative revenue streams. These include earned income, strategic partnerships with governments, low-cost foundational loans, or acquisitions of aligned for-profit or non-profit entities. Some examples of earned revenue discussed included: program contracts with schools or governments, discounted services to fellow non-profits, coaching, tech applications, or data analysis of target communities.
“Can growth capital be thought of differently? Instead of it being multi-year can we provide organizations with the time and space to dream?”
Know Thyself (Unlocking Internal Organizational Value)
Ensuring organizational sustainability involves not only tapping external resources but also looking inwardly to unlock an organization’s current value. Where are there operational inefficiencies that could be streamlined by technology and AI to unlock personnel time and energy towards strategic planning and impactful initiatives? If acquisitions are at the doorstep, what value in the organization are they realizing? Are there any other organizations worth acquiring that are mision-aligned? What sets an organization apart from others is where it will find its greatest value. Maintain cash reserve and acquire additional capital to unlock value and growth.
Align with Partners and Carve Space to Grow (Call to Funders)
Strings-attached funding can limit space for nonprofits to stretch, test, dream, and grow. Providing upfront growth capital allows organizations to envision new futures as opposed to “just-in-time” fundraising which can require more energy and short-term reactivity with a limited runway for vision planning. Risk capital and R&D capital are also sometimes overlooked but crucial for innovative organizations to take risks, learn, and fail forward. Funders are encouraged to rethink their approach, allowing nonprofits the time and resources to dream boldly and achieve lasting impact.
“Funders, stay the course.”
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