The Nonprofit Business Model Changed
July 25, 2016 The NonProfit Times
In a changing culture not only for nonprofits, but for the United States as a whole, it is essential to embrace the changing structures of nonprofits.
During the recent AICPA Not-For-Profit Industry Conference in Washington D.C., Susan Raymond, executive vice president of Changing Our World Inc., spoke about the changing structures of nonprofits during a session “Innovation in the Nonprofit Marketplace: Strategic and Operational Needs.” She addressed the adaptations nonprofits managers must make to adapt to an ever-changing marketplace:
Donors have taken a new approach in moving money to a social problem by emphasizing the use of market-like financial tools. While in the past donors have taken a passive role, they now see a donation as a chance for long-term engagement with a charity.
Because donors are seeking long-term engagement, it is essential to have a three-year goal for your organization and to have specific and measureable goals. Show donors your progress, rather than just movement.
Report publicly on facts and figures before your donors ask for it. Younger donors want innovation. It is what they know and what they expect from you.
By embracing the prevailing standard of accountability and innovation set by the new demographic of donors, your organization will stand out in a competitive marketplace and continue to make strides towards achieving the goals set forth by your organization.