An article published yesterday in The Wall Street Journal, “Once-Robust Charity Sector Hit With Mergers, Closings, “ confirms what we’ve been addressing in our trainings and presentations for the past year and a half.
It’s unfortunate to see nonprofits that are helping folks shut down, but as the article explains, the reality is there are just too many out there. Collaboration needs to happen. Also, the groups that continue to rely on government and foundation funding, instead of diversifying their base with private funding from individuals, are the ones suffering the most.
But on the flip side, as the article points out, it’s interesting to note how successful some nonprofits have been (and are actually growing) in this economy because they’ve merged or collaborated, become more strategic in their planning, focused on building their fundraising infrastructure, and are now soliciting charitable gifts from individuals. If you’ve ever heard us make a presentation, that will certainly sound familiar.
What are you doing differently in this economy? We invite you to share your tips and comments below.