 Can Your Organization Obtain More Income? Seven Sources, Endless Variations Alice... "Would you tell me, please, which way I ought to go from here?"
"That depends a good deal on where you want to get to," said the Cat. Every year trillions of revenue dollars pass through the books of nonprofit organizations. Chances are your board would like more of this income to pass through your coffers. This article can help. It presents the seven key ways that nonprofits earn income for their mission. Which are you tapping? Which have you dismissed because years ago someone decided the source was impossible? Does a list like this help? Yes. Over the past decade, I've helped many nonprofits to develop new and enhanced income streams. Once you understand where your opportunities lie, you are in an ideal position to make the most of them. Source One: Mission Income Nonprofits receive this income for services they provide related to their mission. Nonprofit housing organizations charge rent. Theaters charge patrons for tickets. Ride services charge based on mileage. Mission income is the largest nonprofit revenue source, with 28 percent of the total. For heath care organizations, mission revenue is almost 40 percent. Almost every organization has opportunities to earn mission income, even if you now only provide free services. For example, we developed a viable mission income concept to offer critical data to new customers, in one session, with a never-charged-a-fee organization. This one concept helped them to "clear the fog" and begin to explore new opportunities. Source Two: Individuals Wanted: Dead and Alive This income source is donations from individuals. Ideally, individuals give to your organization because they have a passion for your cause, the means to give, and a relationship with you. Donor income includes everything from the check your board member writes, to special event revenue (above and beyond the cost of the gala dinner), to the stocks from Mrs. Bates' will. Income from individuals represents the largest source of donated revenue nonprofits receive. . . Read the rest of the article here... More Income Related Resources 1. Read Added Value; the articles will continue to explore nonprofit income issues and sources. 2. Call Karen to explore if a workshops or strategic planning focused on creating income solutions is right for your nonprofit. 3. Audio downloads, especially Money-tastic #2: Nonprofit Income Opportunities and Money-tastic #3: Creative Revenue Streams for Your Nonprofit.
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