Lately I’ve been talking with a few nonprofits, trying to figure out how to get them to expand their thinking around fundraising. A few nonprofits seem to think that fundraising is mainly grants, events, appeals, and major gifts.
But it can be so much more!
In addition to grants, appeals, events, major gifts, etc, what are some other ways you can get money for your nonprofit?
1. Products, Services and Information– Can your nonprofit put out a helpful ebook on your expertise with your cause? Can your nonprofit do speaking engagements for money? Can your nonprofit staff help teach other nonprofits how to do their jobs better?
2. Advertising and Sponsorship-Can you have banner advertising on your nonprofit website? Where can you offer your sponsors a placement? In your newsletter? In your annual report?
3. Transactions or Commissions– Can your nonprofit get a commission when someone sells their home? Or when someone searches the internet? (The answer is yes.) When someone wants to help your nonprofit, and get a grant through you, you can take a percentage of that grant. What are some other ways your nonprofit can get commissions?
4. Subscriptions-Can people subscribe to your premium major donor services, where they get to talk with program people doing the work? Do you sell season tickets to the ballet? This is also known as MEMBERSHIP. Why would someone want to be a member of your nonprofit? What social cachet do you offer?
5. Freemiums-Are you currently providing a free e-newsletter about your nonprofit to your donors? How often are you putting it out? What else can you offer them?
6. Software as service-Could your nonprofit develop a software that other nonprofits could use in your industry? For instance, a software to help case managers track clients, or a software that helps environmentalists track the health of wetlands?
7. Renting space in your nonprofit-A local nonprofit, Austin Green Art, is renting space in their warehouse to artists, gardeners, permaculturists, slow foodists, etc. This is another income stream for them. They also have a for-profit arm that creates gardens in patios or backyards for people to start to grow their own food.
Is this giving you some ideas?
What are some other ways your nonprofit can get multiple streams of income?
Later, I’m going to be talking more about how you can make money on the side.