There’s never been a time like the COVID-19 pandemic. Not only is there an economic downturn on top of the flu, but even nonprofits are feeling the squeeze. That’s why it’s more important than ever for nonprofits to find new funding sources for their work during this critical time. Here is an outline of nonprofit organizations’ favorite ways to seek funding to maintain their support services during this difficult time.
Volunteer to work for free, or nearly free
Nonprofits are desperate right now. While the government has mounted a massive campaign to streamline flu treatment, addressing the economic downturn has proven difficult, and nonprofits feel the pinch. While some organizations still have funding in their budgets for limited services, once that’s gone, it’s gone.
Accept more volunteers
In exchange for room and board, nonprofit organizations will often provide volunteers with the opportunity to work for six hours a day on community service efforts. In addition to saving money on staff, nonprofits will benefit from the dedication of experienced volunteers willing to work for free or nearly free. They’ll also benefit from the promotion and recognition that comes with having a strong volunteer corps.
Improvise and innovate
Even before the economic downturn and the flu, nonprofits were experiencing significant financial pressure. That those tides have turned, they’re even more at risk of losing their funding because of cutbacks or reductions in grants.
Diversify the sources of income
The best way to protect yourself from economic hardships such as those caused by fluctuations in government funding or recession is to diversify your sources of income. It will ensure that even if one source of income is adversely affected, it will still have others to turn to.
Soak up the community
If all else fails for nonprofits, they can always turn to the community they serve for support. Often, this will be in the form of donations or volunteer work, but at other times, it might only be the emotional support that comes with knowing people care about what it does and recognize the value of the work.
There are always challenges for nonprofits. Now because of all the uncertainty in the country, it’s even more difficult. But because of COVID-19, nonprofits have an opportunity to shine. With these outlines for funding sources, they can be even more successful in their fight against this deadly disease and their continued support of the community that relies on them for programs and services.