What makes a nonprofit special? Strong, positive relationships between members is key, no matter the organization.
“There is at least one other universal truth about 1.56 million registered nonprofits operating in the U.S.: no matter the size or the mission, social capital—relationships among people—is the lifeblood of every nonprofit enterprise,” said Janet Rechtman on Blue Avocado.
Social capital is lost when there is a decline in trust and community engagement, argued author Robert Putnam, who popularized the term. Social scientist Jo Anne Schneider also pointed to trust as a key to building social capital in an organization.
To maximize the power of social capital, organization leaders must first recognize its importance; it’s as valuable as financial capital, Rechtman said.
“The social capital nonprofits create and sustain are investments of time and talent that sustain the mission and, frequently, lead to needed gifts of funds,” she says. “Because social capital is not the same as financial capital, nonprofits are hard-pressed to appreciate its value.”
Organizations can use social capital to build trust and develop meaningful connections to their community.
“Resourceful, nimble, and quick in seeking out relationships that help the organization respond to challenges, social capitalists can navigate the mission in ways that build bridges and renew the mission in a dynamic environment,” Rechtman said.
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