NONPROFITS NEED A NEW BUSINESS MODEL to thrive today, according to a story by Jenna Blakely in Pacific Business News. “The old business model of applying for numerous grants and dabbling into various areas of service is not the way to run a nonprofit organization anymore,” she said. Blakely suggested that one method to increase revenue is to have fundraisers. She interviewed Lisa Kimura, executive director of Healthy Mothers Healthy Babies Coalition of Hawai`i, who said grants “worked as far as maintaining existing programs, but as far as doing anything new, we can’t do that without more money.” Kimura said, “I think a good goal is to raise at least 15 percent of our total revenue from fundraisers.” The organization has also begun to ask people to donate. Collaboration and formation of partnerships are other keys to nonprofits’ success, Blakely said. She spoke to Jennifer Creed, a director at Hawai`i Alliance of Nonprofit Organizations, who said that the more nonprofits there are in the community, the more competitive funding becomes. See more at bizjournals/pacific.
Posted on: Tue, 03 Sep 2013 01:22:10 +0000
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