Today marks the inauguration of a new president. Hate him or love him, he plans to make changes that will likely impact the economy – and nonprofits need to prepare for what’s coming?
Of course, no one really knows. The potential cabinet implies that business will do well with large tax breaks. The shift to state control of more programs will, likely, decrease federal funding for nonprofits. And, if the cuts to government subsidies are realized, more people will have to seek assistance from other sources.
While it is all a bit uncertain, let’s focus on the 4 changes your nonprofit can make to weather these uncertain times:
- Show your strengths. You are not the only nonprofit organization that is going to be thinking in this way. You are going to have show your impact, describe your strengths and give donors a reason to make you and your agency a priority. Now is the time to explain how your mission and vision are fulfilled by all that you do. And that you are the best at doing it.
- Focus your grant searches on corporations and foundations instead of government funding. This may seem obvious, but often people wait until the changes happen externally before they make their own shifts. We all know that grant seeking is time consuming, be strategic in how you use your resources starting today.
- Focus on individual donors. Philanthropic individuals know that:
- needs will increase under the new government
- as wealthy individuals, they may benefit from new tax plans
Talk to your major donors about your concerns. If you have been stewarding them properly, they will be open to the conversation about replacing other sources of funding. Maybe they can brainstorm ways to increase your donor pool or major gifts prospect pool or connect you to different sources of corporate and foundation support.
- Be fluid. Do not change your goals, but look for opportunities that may arise in the next few years. You may not know what the future will hold, but you can make sure you continue being a part of the solution. Even if it looks a little different.
If we can help you secure your funding, call us at 800.361.8689 or email Abigail.