Have You Been Sequestered?—Developing Diverse Sources of Revenue
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Many nonprofits are excessively dependent upon a single type of revenue. The classic example is the organization which is only funded through government contracts or grants. Others may be totally reliant upon one or two private foundations or local corporations. In this webinar, volunteer leaders, agency CEO's and chief development officers will learn the value of diversifying the sources of revenue so as to enhance financial sustainability.
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Have You Been Sequestered?—Developing Diverse Sources of Revenue
- 1. Have You Been Sequestered? Developing Diverse Sources of Revenue David A. Mersky October 16, 2013 Twitter Hashtag - #4Glearn Part Of: Sponsored by:
- 2. INTEGRATED PLANNING Advising nonprofits in: • Strategy • Planning • Organizational Development Part Of: www.synthesispartnership.com (617) 969-1881 info@synthesispartnership.com Sponsored by:
- 4. Today’s Speaker David A. Mersky Founder and Managing Director Mersky, Jaffe & Associates Assisting with chat questions: Jamie Maloney, 4Good Part Of: Founding Director of Nonprofit Webinars and Host: Sam Frank, Synthesis Partnership Sponsored by:
- 5. Have You Been Sequestered? Or, Shut Down? Developing Diverse Sources of Revenue ©2013 Mersky, Jaffe & Associates
- 6. ©2013 Mersky, Jaffe & Associates
- 7. What is your agency’s area of endeavor? • • • • • • Religion Education Human Services Health Arts and Culture Other ©2013 Mersky, Jaffe & Associates
- 8. What is your agency’s operating budget? • • • • • Less than $500,000 $500,000-$999,000 $1,000,000 - $4,999,000 $5,000,000 - $9,999,999 $10,000,000 + ©2013 Mersky, Jaffe & Associates
- 9. What is your agency’s principal source of revenue? • • • • • Government Corporations Foundations Individuals Earned income (e.g., tuitions, admissions, etc.) ©2013 Mersky, Jaffe & Associates
- 10. Do you expect the Federal shutdown to have an impact on your agency? • • • • Yes No Maybe Don’t Know ©2013 Mersky, Jaffe & Associates
- 11. Will the Federal shutdown impact your agency’s fundraising? • Yes • No • Don’t know ©2013 Mersky, Jaffe & Associates
- 12. Do you have a written plan to deal with the Federal shutdown? • Yes • No • Don’t know ©2013 Mersky, Jaffe & Associates
- 13. Do you have a written plan to deal with the Federal shutdown? • 60.6 % of those surveyed are concerned • 20.69 % expect to raise less money • 60.1% have no plans—written or otherwise ©2013 Mersky, Jaffe & Associates
- 14. The Federal Shutdown: A View from the Field ©2013 Mersky, Jaffe & Associates
- 15. A Housing Program • Staff members jobs—funded by Federal grants—are in jeopardy • Government more than a source of money • Expertise and a knowledgeable partner • Hurts the homeless and returning veterans • Local communities are stalled ©2013 Mersky, Jaffe & Associates
- 16. Main Street and Not Wall Street • SBA is not processing loans • IRS cannot provide tax returns to banks to make mortgages • USDA cannot inspect nor approve new product development • Foreign investors are holding back • Service companies dependent upon national parks tourists are shuttering ©2013 Mersky, Jaffe & Associates
- 17. AND, WHAT ABOUT THE THREAT OF DEFAULT? ©2013 Mersky, Jaffe & Associates
- 18. The State of Philanthropy in America Today: Context for Consideration ©2013 Mersky, Jaffe & Associates
- 19. 2012 Contributions: $316.23 billion by source of contributions (in billions of dollars – all figures are rounded)
- 20. 2012 Contributions: $316.23 billion by type of recipient organization (in billions of dollars – all figures are rounded)
- 21. Q: How do you get your piece of the pie? ©2013 Mersky, Jaffe & Associates
- 22. A: Develop diverse revenue streams ©2013 Mersky, Jaffe & Associates
- 23. ©2013 Mersky, Jaffe & Associates
- 24. Vision of the Effective Development Shop Diversifying Revenue Streams ©2013 Mersky, Jaffe & Associates
- 25. Where there is an effective development shop… • relationships are nurtured • number of donors, sources of contributed income, and dollars raised continually increase. • the organization and its reputation are enhanced. ©2013 Mersky, Jaffe & Associates
- 26. The Agency • has a dynamic strategic vision and plan. • is worthy of support. • gets input from key constituents and stays tuned into community perceptions. • has an active volunteer pool. • operates by the highest ethical standards. ©2013 Mersky, Jaffe & Associates
- 27. The Board • is strong with a standing committee on governance and leadership development to keep it that way. • embraces its role in fundraising and has the necessary structures and skills to participate. ©2013 Mersky, Jaffe & Associates
- 28. ©2013 Mersky, Jaffe & Associates
- 29. Development • Fundraising goals are widely-understood, rational, clear and defensible. • The information system houses the right information and in a way that is easily retrievable. • The information is regularly analyzed and reported. ©2013 Mersky, Jaffe & Associates
- 30. Development • There are adequate numbers of fundraising staff with experience and competencies. They have job descriptions and are effective in their work. • The development office has needed space, equipment, technology, and budget. • Processes are professional and efficient (e.g., record keeping, gift handling). ©2013 Mersky, Jaffe & Associates
- 31. Development • The effectiveness of various fundraising strategies are evaluated and priorities adjusted accordingly. • The calendar apportions work out over the course of twenty four months – 6 months for planning – 12 months for execution – 6 months for evaluations and clean-up ©2013 Mersky, Jaffe & Associates
- 32. ©2013 Mersky, Jaffe & Associates
- 33. Mersky, Jaffe & Associates Financial and Human Resource Development Solutions for Nonprofits 800.361.8689 413.556.1074 fax www.merskyjaffe.com OFFICES IN BOSTON AND NEW YORK ©2013 Mersky, Jaffe & Associates