Especially in the current economy, if you administrate a nonprofit, I extremely encourage you to diversify your income sources. If you plan to stay solvent, you don't want to over-rely on any one source of income. Having many streams of income will growth the likelihood that your enterprise will support over the long term.
A common misconception about nonprofits is that they can't and shouldn't make a profit. This is totally untrue. A nonprofit is a enterprise and it should make a profit. It is unfortunate that the majority of population who start nonprofits don't fully understand how to form a nonprofit enterprise model that generates sufficient income to make a profit. It's fairly simple, you create a stock and you sell it.
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Let's look at some real life examples so you have a great idea of what I'm talking about. The Quicksilver Track Club is an elite track and field training agenda that works with at risk youth. Their mission is to train kids, build their athletic potential so they can get college scholarships. As you can see if you visit the website, the registration fee is 5 per year. The agenda is not free. Yes, they're serving economically disadvantaged kids, but it costs money to deliver this service. Far too many population who start nonprofits want to give their services away for free and you just can't control a enterprise without revenue. And without a clear insight of this basic concept, you cannot build a successful nonprofit.
Another earned income choice is the sale of tangible products. The American Cancer society has mastered the art of selling products. On their website you can purchase jewelry, shirts, jackets, watches, and a myriad of other wares. They have a crystal beads anklet that sells for .99. If they sell 1,000 of these in one month, they've generated ,000.00. Their tote stock sells for .99. Again, selling 1,000 of these will create ,000.00. At the time I wrote this record they reported on their website that they raised million dollars straight through their assorted fundraisers and sale of products.
Making A Way Housing, Inc. Earns the majority of its revenues straight through the rental of real estate. The organization's core operation is providing affordable housing for homeless persons and those undergoing medicine for alcohol and substance abuse. The residents pay rent that is subsidized by grants. Rental fees are not shop rate, but they're not free either. They have 70 two-bedroom units. Each unit is occupied by two residents who may pay in the middle of 0-350 per month. At these occupancy rates, they can create in the middle of ,000 and ,000 per month.
I like to use the illustration of the pie chart. A pie has many slices. For the nonprofit, each slice represents a income source. I suggest that the most foremost and the largest slice of any nonprofit's income pie should be earned revenue. The wise man is the one who develops their nonprofit enterprise model with earned income as the cornerstone.
Earned earnings - The Most foremost Source of earnings For Nonprofits No URLFriends Link : Cheap Dimond Rings baby monitor two rooms zojirushi breadmaker bb-cec20
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