07/02/2020

Key Qualities Helping Organizations Thrive During the Pandemic

For some, COVID-19 has lead to positive changes

While some associations have struggled to survive due to the COVID-19 pandemic, others have managed to thrive, pivoting their resources to meet member needs. A new report from BDO, Nonprofit Standards: A Benchmarking Survey, includes a section on what has helped nonprofits thrive during the pandemic.

“Organizations that are unable to adapt to the current environment and prepare for the next crisis risk having to close their doors and abandon their mission, while those that can stay resilient in the face of uncertainty will be able to forge ahead into our collective ‘new normal,’” the report said.

The report divided organizations into three categories: thriving, sustaining, and struggling. It found “thrivers” had several things in common: having six months in reserves, spending 80 percent of expenditures on program-related activities, and investing in new technology.

Please select this link to read the complete article from Associations Now.