The word leverage simply means to use something to its' maximum advantage. However, when it comes to nonprofit funding, focus tends to dwell on one area at a time, rather than leveraging the pillars of all funding resources that may include:
- Grant Funding (Corporate, Foundation) - Most often directly funds projects and programs
- Sponsorships-Usually fund a specific event
- Fundraising Activities-Can help fund projects and programs, as-well-as, operating costs
- Individual Donations-May designate funds for specific areas of support
- In-Kind Donations-Goods/Services necessary to bring a project or program to fruition or on-going support
- Revenue Generation-Product Sales and/or Fees for some services
Grant applications ask for all sources of funding secured, unsecured and anticipated. Incorporating the above resources will help answer the question. Grant Funding requires extensive research, required documentation, data and statistics, and more. Give yourself several months. Grant Funding is not guaranteed. All awards are the sole discretion of the Grantor.
Sponsorships, fundraising activities and In-Kind donations for give-a-way prizes are kindred spirits. Utilize these resources for the best outcome.
Individual donations are great resources for continuous financial support; however, outside forces such as an economic downturn can have a negative impact.
Revenue generation such as product sales and/or fees for various programs/projects are fantastic sources of revenue. Hint: In-Kind donations of items like mugs, tumblers, or T-Shirts are a win-win. (Just another way to leverage resources.)
- Cover charge for events
- Ticket Sales
- Celebrity autograph sessions
- Class or Course Fee
- You're only limited by your imagination
Bottom line, relying on one funding resource can be detrimental to the success of the organization. The key word here is LEVERAGE!
Tammie Tuley is an independent writer, Certified Grant Consultant, business/motivation speaker, and author of
Grant Writing Bootcamp...Back to the Basics and Get Yourself Settled Lil' Girl
Add comment
Comments