Need to Fill a Budget Gap?
Tips to raise funds now
During this crisis, many nonprofits are experiencing significant revenue loss due to cancelled fundraising events, uncollected fees-for-services, loss of governmental reimbursements, and delayed donations to name a few sources. It is critical to fill these gaps, and nonprofits are working hard to do this. One immediate remedy is to tap into grant funding explicitly allocated for Covid-19 crisis response. However, this grant funding is not intended for the long-term. Nonprofits must build sustainable funding.
You are not alone if your nonprofit has relied heavily on government and United Way program funding and depended on fundraising event(s) as the main source for unrestricted dollars. However, this is not a sustainable funding strategy.
A reliable and sustainable way to grow your revenues is to focus on increasing your donor base and individual contributions. According to the Giving USA 2020 Annual Report on Philanthropy for the Year 2019, Individual donors comprised 69 percent of all charitable giving.
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