We have been to several conferences recently that featured an economic update. The consistent message was that the economy is not likely to improve in the near future and even indicated that it could be another five years. Nonprofits have been hit hard—reduced government funding coupled with increased demand for services.
A few things to do, if you aren't already:
1. Prepare a cash flow projection for 6 months, 18 months, and 3 years. Continually roll it forward. Determine now what changes you will make if you don't hit certain revenue targets.
2. Strengthen your volunteer program. Today's volunteers want to contribute in more meaningful ways and you can expand or maintain your capacity with volunteers. Volunteers are also more likely to give to your organization and to give in larger amounts.
3. Individual donors make up 73% of giving (81% if you count bequests and 87% if you include family foundations). I am still convinced that there are individuals who have not yet learned the joy of giving. Make sure you have a robust donor cultivation program and many opportunities to connect people to your organization.
4. Review nonprofit best practices. Talk with others in your field. Make sure your organization is operating efficiently and employing the best strategies.
5. Look for opportunities to collaborate with other nonprofits or even for profits.
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