What is a Nonprofit and Why Do They Need a Strategic Funding Plan
Have you ever heard a description that truly explained what this business structure is and what purpose it plays in our modern society? I am sure you have and even know a couple of Nonprofit Organizations that currently do business in the market place. But what do they really do and what purpose do they play in our world? The other question that I will address why they need a strategic funding plan.
There are many types of Nonprofit structure and if you visit the Secretary of State or Incorporations Division on the state website that you live in you will see what I mean. The Public Charity is the Nonprofit Incorporation 501(c)(3) that is the most popular and the Nonprofit structuring I will be addressing in this article. Just remember that there are may different Nonprofit Incorporations that cover a wide variety of organizations and missions.
The company that I am a co-founder of is called The POWER of PURPOSE.
One of our other co-founders is Sherry Watson. She has lived and operated in the Nonprofit space for over 30 years, had numerous Nonprofits and for-profit companies and has developed and advised thousands of other Nonprofit Organizations. For the last 13 years she has coached and taught the strategies and programs necessary for Nonprofit organizations to thrive in their market space and serve an undeserved population of people.
We take Nonprofit organizations from inception of incorporation and beginning start up to thriving self-supporting, doing great things in their community and most importantly, funding plans that support their programs and necessary staff to fulfill their mission.
Keep in mind that there are several layers of business strategies that make a Nonprofit successful and all equally important. I want to talk about a strategic funding plan and how every Nonprofit needs to have this plan in place and working for them.
The POWER of PURPOSE teaches from the onset that a team is needed to put a successful strategic funding plan (SFP) in place. So, first things first put a team of motivated, smart and qualified people together to visualize the plan and adapt it to you mission and marketing position in the community you serve. This group may or may not be on your staff at the time this need present itself to the organization and for the most part existing staff are 95% utilized for operational task for the Nonprofit. I am not saying that they shouldn’t be involved in the process they need to be but utilize them in peripheral position to add comment and suggestions.
Set up an “Advisory Board” call them the strategic funding planning team and task them with plan development. Use existing board members, the executive director and other related experts that offer expertise in the area of strategic planning and fund raising.
The difference between a funding plan and a strategic funding plan is a strategic funding plan (SFP) is laser focus on the mission, support network and position the Nonprofit has in the community. A funding plan focuses on many different kinds of funding vehicles all of which are designed to raise funds in ways that focus on the fund raising and not the strategic mission of the Nonprofit. There are many examples of fund raising for the sake of fund raising. Many of these strategies are impersonal and do not represent the Nonprofit in ways that develop long lasting and committed relationships.
Donors these days are well educated in philanthropic communities and base their support and donations by being able to associate with the cause. They take the time to educate themselves on the needs and delivery of services to the concerned population.
A SFP now must take a three (3) step process to market the plan to a targeted population, a demographic that has background data to show that they are more apt to support a particular cause or organization than a general shot gun approach of blasting the marketing for donated funds.
A Nonprofit must first identify a prospective targeted population of donors that are more agreeable with their cause. Secondly, you must educate them to the cause and how your Nonprofit is addressing this issue.
Education and information is a huge part of the nurturing process. The last couple of decades have seen a generational evolution of a need to know population. This a very philanthropic group and donate lots of money but need to educated on the necessary steps to help the organization. This includes taking them through a marketing plan that build the necessary urgency and transparency required for them to make an informed decision and subsequent donation.
The third step is to deploy the marketing plan with donation opportunity in various formats to reach the targeted group of people. Modern Nonprofit organizations have to be able to use several marketing formats to achieve this. They will need to have hard copy or printed versions available for face to face meetings and presentation. The newest areas for Nonprofits is electronic versions of contacting, educating and prospecting for donations. Modern Nonprofit organizations that have a web presence and email list to market to have the needed advantage.
The Nonprofit will need to deploy digital marketing strategies to use the power of the internet to drive campaigns and opportunities. Nonprofit need to use and master technics that for-profit information marketers use to run their online business. The POWER of PURPOSE recognized this missing link for Nonprofit organizations and have address this and many other marketing strategies that build and support strategic funding plans.
Our mission is to start and/or empower 10,000 Nonprofit organizations.
For more information;
Power Summit Information;
office (505) 217 9333
Sherry Watson is recognized as one of the nation’s top experts in the world of nonprofit organizations. Sherry has over 30 years of experience in the nonprofit industry, she has generated over $130 million in funding and she has led movements that changed policies at the local, state and national level that has impacted and improved the lives of millions.Sherry has designed and launched several successful organizations and corporations focused on social and economic value creation and strategic planning. Sherry utilizes her expertise in business planning, strategic planning and grant writing in her consulting work with entrepreneurs. She works with organizations and corporations in all phases.Her clients range from small start-up entities to business ventures to large corporations. Sherry’s nationally recognized as a leader of a movement that is out to change America for good, that means for the better and it means forever. She’s renowned for unleashing the power and passion of America’s nonprofit corporations and socially conscious entrepreneurs with a clear purpose: to harness the power of the people and aim it straight at the chronic problems we currently face today. She’s fueling the movement with the Power of Purpose, a movement throughout the United States in partnership with investment funds and angel investors to build a coalition around passion and power of difference-makers from coast to coast.
Latest posts by Sherry Watson (see all)
- What is a Nonprofit and Why Do They Need a Strategic Funding Plan by Sherry & Tracy Watson - April 10, 2018
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