Today I want to address a common challenge many nonprofits are facing: having more vision than provision. Yes, your dreams are big, but your funding is not enough. Let's explore some ideas today on how to increase your revenue!

      It’s a situation that many nonprofits find themselves in, and you might be there too. You have an inspiring vision and a compelling mission, but the resources keep you from realizing all that you have in your heart to do. So, what can you do about it? Today I want to share a couple of strategies to increase and diversify your revenue so that you're not relying on a single source, which is risky business!

4 Ideas to Increase Revenue in Your Nonprofit

Grants

     Grant eligibility will vary greatly depending on the type of nonprofit you have. I have found that grant applications can be a source of abundant revenue that is really sustainable and repeating. But I've also found it to be true that some nonprofits just don't have a pond to fish in for grants. Take some time and do some research to figure out what is available to your nonprofit. If you're not actively applying for grants, give it a shot. Grant funding changes day to day, so just start applying.  

     I actually helped a nonprofit complete a grant application today for trees. Traditionally, this nonprofit is not able to obtain grant funding, but they happen to be in a situation where they need to plant some trees on their campus and found there were actually many grant opportunities for that purpose! So, don't give up! Try again! 

Earned Income

     For a nonprofit, earned income might look like creating places where you sell a product or you offer a service, or do something that is income generating. There are many opportunities here. I like to think of it as becoming kind of entrepreneurs for a nonprofit or, maybe a made up word I could say is “non- preneurs.” These nonprofits help fund their mission in an entrepreneurial way. This can vary greatly, but  there may be some perfect opportunities for your nonprofit that you haven’t considered before. As a side note, earned income may come with some tax and reporting issues which you should be aware of, but I don't think this should keep you from exploring good ideas that might generate income to make things possible in your nonprofit. 

Fundraising Events

     Fair warning: Fundraising events are incredibly time intensive and can suck the life out of an organization if not done well, so be cautious! But, ask yourself this:  Is there an opportunity to do an event that actually aligns with your mission in a way that makes it highly profitable and highly experiential for your donors and your community?

     I want to share a story: I saw a nonprofit do a fundraising event recently in which they limited the number of participants. The experience was that these participants who came to their fundraising event would get an opportunity to see the types of things that this nonprofit is doing for the victims and the population that they're called to serve. What a phenomenal moment, right? So the participants came to this fun event and experienced  the activities, but, they also got to put themselves in the bind of the people that the nonprofit is serving in a way that caused their generosity to open up to new levels. So it was a very brilliant fundraising event that I wanted to share with you, which leads to the last item…

Individual Donations

     Now, this applies primarily to 501c3 nonprofits, recognizing that those missions tend to be something that people believe in, that the community wants to support. So, if you don't already have an emphasis on cultivating donor relationships and individual donations, I want to invite you today to get more curious and more intentional about that. This is really where you respond to the fact that people give. When they give you continue to cultivate the relationships with those donors. You give them stories of what's going on and you give them updates of things that are coming up. You just create a place where you're able to lean in and learn more about why they care about your nonprofit and made that gift to begin with. Then, you can bridge into a relationship that takes giving from being somewhat transactional ( i.e. a golf tournament) to a deeper level of transformational giving where you invite them to have a profound impact on the lives of the people you’re called to serve. Since many of the clients that I serve are faith-oriented churches and ministries, they are fueled by the knowledge that they're making an eternal impact. So, for their donors, the impact of their giving transcends the here and now on Earth, and extends to a thoughtfulness of kingdom work and kingdom impact. 

     I hope that these ideas have been helpful for you today. If your nonprofit is struggling with having more vision than provision, don't lose hope! The ideas I’ve shared today are meant to be a springboard to get you started exploring your options. But, if you need personalized guidance or some further resources, I'd love to work with you and help turn your vision into reality. You can book a strategic consult with me here. I look forward to serving you!