A recent report done by the Loudoun Times (Loudoun County Virginia) looked at how various non-profits were handling decreases in funding. They interviewed about 20 different non-profits in the county.
Here is what some said about what they planned to do
Spend money to make money
The majority of organizations interviewed said they plan to host big fundraising events to raise the money needed to counter budget deficits.
“We’re going to have to do well at our [annual] gala, especially with the reduction of our county grant,” Whiting said. “That caught us a bit off guard.”
Golf tournaments, galas and concerts were listed as big money getters.
The organizations also say tapping new donors and broadening the range of those they solicit is at the top of their to-do list.
Creating a new strategy for fundraising is a must, they said. Whether it will be successful is a worry.
“Who knows what’s going to happen,” said Rohrer. “I think what we’re seeing is the tip of the iceberg. What we saw in the last six months will affect the next six.”
It is good that these non-profits see the need to develop a new strategy. Too often non-profits are dependent on grant money to sustain them and they are caught off guard when a macro-economic shift disrupts that stream of revenue. The best strategy for any non-profit is to have a healthy mix of revenue sources - including a strong donor base.
