Monday, February 3, 2014

Lessons Learned from Knight Foundation's Digital News Study

This article from NonProfit Quarterly summarizes highlights from the Knight Foundation's study Finding a Foothold-How NonProfit News Ventures Seek Sustainability.   While the focus in on news organizations, the observations from the study are valuable to any nonprofit:

1- compare yourself to your peers and target those from whom you can learn
2-revenue diversity with a focus on individual donations is key
3-while some donations might be significant donations from high net worth individuals, most donations were much smaller
4-the correlation between stakeholder engagement and donations
5-attack your assumptions always
6-measure what matters

If you don't have time to read the whole report, the NPQ article is a great summary and the discussion of the recommendations at the end of the report are a quick but thought provoking read.

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