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Apr 20 2017

Nonprofit Sustainability: Going Beyond Initial Funding

Nonprofit sustainability is not just about securing funding but more about long term goals for your programs and fulfilling your mission.

In a recent post that appeared first on Nonprofit Hub, Program Sustainability is Not Just About Funding

More than ever, program sustainability is a concern for nonprofits and the grantmaking organizations that fund them. It’s been estimated that up to 40% of all new social programs do not last long beyond their initial funding.

In order to achieve your goals, you must know: “What your plans are for sustaining your programs when you receive funding.”

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Nonprofit Sustainability Best Practices

Here are some suggestions for attaining long-term nonprofit sustainability:

  • Only write occasional grant proposals as opposed to constant proposals
  • Focus on intermediate and long-term goals as opposed to short term goals
  • Maintain a stable and skilled staff as opposed to high staff turnover and unskilled employees
  • Focus on the mission as opposed to program start-up and fundraising
  • Keep on improving activities as opposed to re-inventing them
  • Build long-term partnerships and collaborations as opposed to time-consuming relationships
  • Receive funding with no strings attached
  • Demonstrate program effectiveness
  • Demonstrate high credibility with stakeholders

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How To Put a Sustainability Plan In Place

Now that we know that nonprofit sustainability is not just about funding, it’s important to have a sustainability plan in place going forward. There are many lessons to learn from how to run your nonprofit like a for-profit business. Without ongoing, sustainable revenue, your nonprofit will not survive.

We’ve put together steps to take to create your sustainability plan:

  • Define your organization’s purpose and how it impacts your constituents
  • Define the problem your organization solves and then ask for support
  • Build mutually-benefitting partnerships with similar organizations
  • Develop strategies for cultivating and maintaining partnership relationships
  • Develop diversified revenue strategies to ensure continuous income

Schedule a FastFund Online Demo: Learn more about our unique software approach to nonprofit accounting, payroll and fundraising.


Bottom Line

Creating a sustainability plan is the key to achieving your goals. Consider comparing your nonprofit to a startup for-profit business. There are many similarities and strategies to keep your nonprofit running in the black and not in the red.

Want to read more? Check out these insightful articles:

  • Donor Stewardship: Relationship Building Strategy for Nonprofits
  • How to Increase Nonprofit Funding Using Accounting Software
  • Why Accounting Is The Key To Nonprofit Sustainability
  • Surviving COVID-19: Nonprofit Sustainability Plan
  • How Operating Like A Startup Grows Nonprofit Revenue
  • 4 Digital Event Management Strategies for Nonprofits
  • Nonprofit Internal Controls: How To Prevent Fraud

Did you find this article useful? We welcome your thoughts and comments.

Written by Joseph Scarano · Categorized: Fundraising Stewardship · Tagged: Accounting Software for Nonprofits, Fund Accounting, Nonprofit Accounting, Nonprofit Accounting Software, Nonprofit Fund Accounting Software, Nonprofit Stewardship, Nonprofit Sustainability

About the Author

Joseph Scarano is the CEO of Araize, Inc., developers of cloud-based FastFund Online Nonprofit accounting, fundraising and payroll software solutions to help your nonprofit become more transparent, accountable and sustainable.

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