New Means of Funding for Nonprofits

As demands escalate, nonprofits have found themselves in a battle to maintain a stable funding for their programming. With nonprofits generating more than 14% of the state’s private workforce, 78% of these organizations have reported increase in demand. However, insufficient government funds have made it difficult for nonprofits to meet their demands. Federal aid has continued to either decrease or remain stagnant, which causes tight budgets for these organizations.

Tight budgets equal less employees, which leaves the remaining employees exhausted from the additional workload. So, what can these organizations do to avoid this from happening? Nonprofits have begun cultivating strong relationships with public and private partners in order to bring in and increase corporate sponsorship. Though this may seem like a reasonable idea in times of need for these organizations, it can also backfire quickly. Harvest’s own, Sondra Lintelmann-Dellaripa, says, “Nonprofits are essential; they represent a large value to workforce and GDP. New means of funding are needed. Individual giving is the greatest asset. Mergers and acquisitions of npo’s might be necessary.” However, she continues by saying “I don’t agree with events or corporate sponsorship as an answer. That’s a dying and dead end revenue stream for many reasons.” Read the full article here.

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