Behind the scenes at every nonprofit are the financial activities and decisions that enable the organization to carry out its mission. While most nonprofits have growth strategies in place for the current fiscal year, it’s not as common to reflect on long-term sustainability. In fact, a survey of 1,100 respondents by Concord Leadership Group revealed a significant gap between top-performing nonprofits and the remaining organizations.
While there are myriad reasons behind a nonprofit’s viability, it is important to develop a business model that is grounded in smart finances
This article provides 6 best practices that help nonprofits stay on target for achieving sustainable growth.