New Book: 7 Nonprofit Income Streams: Open the Floodgate to Sustainability
In this practical and persuasive new book, you will discover the seven streams of nonprofit income. Drawing on two decades of investigation and over 1,000 interviews with nonprofit leaders, in 7 Nonprofit Income Streams, Karen Eber Davis clarifies the confusing, competitive and messy garage world of nonprofit income so you can:
- Earn more money in one year than the previous three.
- Discover dramatic success stories to replicate.
- Create new enthusiasm about giving money and resources to your nonprofit.
- Expand your strategy to enhance your mission and sustain your nonprofit.
- Get practical, in-the-trenches advice and find tips you to use now.
Learn the successful strategies used by dozens of nonprofits. Discover how to weave the seven nonprofit income streams into a viable strategy for your nonprofit—and pre-test it. Be guided as you design ways to propel your nonprofit toward the income it needs to sustain it for the long haul. 7 Nonprofit Income Streams is the real deal to make your nonprofit profitable.
Money from Foundations
Without Seeking Grants
When it comes to foundations, every nonprofit leader immediately thinks, "Let's get a grant." Modify this thought. What if you also thought of foundations as a venture capital resource to drive earned revenue opportunities?
Here's an example. I discovered this story while hunting for creative revenue breakthroughs for 7 Nonprofit Income Streams.
It's another example of how nonprofits find ways to solve tricky revenue challenges.*
The Colorado Coalition for the Homeless in Denver creates "lasting solutions to homelessness." Besides addressing emergency needs, it solves the underlying issues that clients and communities face. One issue their customers face is gaining access to health care. Before the Affordable Care Act, only 15 percent of its customers qualified for Medicaid. Under it, 75 percent qualify.
To offer more services and grow revenue, the Coalition needed to increase their ability to help customers qualify for health care to use the Coalition's clinics. With the Affordable Care act, it saw revenue and service potential. Yet, it lacked resources to train staff to qualify clients. The Coalition turned to the Kresge Foundation for a loan-not a grant.Demonstrating confidence in their venture, they negotiated an interest rate that depends on their outcomes. The more people they qualify, the lower the rate.
How might you use this information? Speak to your local foundation's staff about grants and loans. In terms of assets, Kresge stands among the top twenty United States foundations. While the foundation or foundations you know may not provide loans now, Kresge's leadership may inspire them. Like the Coalition, you might find a new way to create tremendous new revenue and services.
*For another example of an unusual foundation-nonprofit relationships that provides a nonprofit earned income, read page 106 of 7 Nonprofit Income Steams.
To receive a 20 percent discount, use “7income” with CharityChannel Press.
What Readers are saying about 7 Nonprofit Income Streams
“As a grant maker for over two decades, I liked savvy nonprofits that could do more than just create great programs. I wanted innovative thinking and a variety of income streams. I have always believed that nonprofits must be entrepreneurial and run like successful businesses. Most nonprofits need help in this area… it’s a lot harder to make money than it is to give it away. Thank goodness Karen’s written a book that puts it all together. This is the essential guide that all nonprofits should study and follow. Must reading.”
President, Leslie Glass Foundation and Reach Out Recovery
“In my career as a CPA, I have been the CFO of two large nonprofits. It would have greatly shortened my learning curve if I’d had this well written nonprofit revenue construction kit sitting on my desk my first day on the job. Clearly written and well thought out, this is a must read for board members, CEOs and CFOs who want to assure financial health and program growth. Ms Davis obviously is highly experienced and knowledgeable. I recommend we in the nonprofit world take advantage of her wisdom.”