Financial Sustainability And Its Effects On The United States

969 WordsNov 16, 20144 Pages
Many nonprofit organizations continue to experience the effects of the recession, which has resulted in the decrease of badly, needed resources, such as funding from donors and successful fundraising efforts, and as a result, some of their fundraising efforts to raise moneys for their organization become stagnant. During the economic recession, there is no exception to the areas that will be affected, which includes the non-profit sector. According to the Guide star report, “nonprofits facing limited resources to meet looming increases in demand have had to find new strategies, like partnership to increase efficiency. “The Nonprofit Finance Fund, which provides loans and access to grants to nonprofits, urged organizations to team up with…show more content…
The areas of focus of the study are: 1. How can Nonprofit stay on mission during the recession. 2. What strategies can be implemented to support the organizations? 3. How some nonprofit organization survived the recession. The non-profit sector is vital to society. It delivers essential services to communities, allowing them the privilege to participate as volunteers and fulfill their dreams as contributors. How can Nonprofit Organizations stay on mission during the recession! The strength of a nonprofit organization depends on their capability to secure and conserve funds. Most nonprofits primary source of income is generated from private donors, fees for service, fundraising through special events or government grants. As a result of the recession the organizations that secure funds will be able to maintain a standard of performance. It is inevitable to control all the unpredictable, but nonprofit organizations can use multiple strategies that will allow them to survive these difficult times. Therefore having knowledge of your organization’s needs is the first step to fundraising. To maintain strong financial structure during a recession, one has to establish fundraising, and according to Tempel, “Fundraising projects the values of the total organization into the community whenever it seeks gift support, all aspects of
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