FUNDING SOURCES
There’s money out there. How does a nonprofit organization tap into it?
An organization can apply for grants from foundations, government agencies, or private companies. Such applications typically involve a proposed budget and metrics showing the value of the programs and may require follow-up reporting to the donor for the duration of the grant period.
This is just one option for an organization’s funding; there are other, less traditional methods. Consider the Ice Bucket Challenge of 2014. The challenge went viral on social media as nominated participants were filmed having a bucket of ice water poured over their heads. It raised awareness of ALS/Lou Gehrig’s Disease while at the same time leading to $100 million in donations for the ALS Association. Creativity, then, can lead to major rewards. But not every funding method will be right for every organization.
Reading material to use:
· Amandolare, S., Bowles, J., Gallagher, L., & Garrett, E. (2020, May). Essential yet vulnerable: NYC’s human services nonprofits face financial crisis during pandemic Links to an external site. . Center for an Urban Future. https://nycfuture.org/research/essential-yet-vulnerable
· Furman, R., Gibelman, M., & Winnett, R. (2020). How organizations are financed Download How organizations are financed . In Navigating human service organizations: Essential information for thriving and surviving in agencies (4th ed., pp. 55–77). Oxford University Press. Credit line: Navigating Human Service Organizations: Essential Information for Thriving and Surviving in Agencies, 4th Edition by Furman, R.; Gibelman, M.; Winnett, R. Copyright 2020 by Oxford University Press. Reprinted by permission of Oxford University Press via the Copyright Clearance Center. Licensed in 2022.
· Gore, E. M., & DiGiammarino, B. (2014, May 22). Crowdfunding for nonprofitsLinks to an external site. . Stanford Social Innovation Review. https://ssir.org/articles/entry/crowdfunding_for_nonprofits
· Minguez, A., & Sese, F. J. (2021). Understanding the effectiveness of social influence appeals in charitable giving: The roles of affinity with the cause, and past giving behaviorLinks to an external site. . Journal of Marketing Theory and Practice, 29(3), 375–386. https://doi.org/10.1080/10696679.2020.1859335
· Nelson, D., & Ruffalo, L. (2017). Grant writing: Moving from generating ideas to applying to grants that matterLinks to an external site. . The International Journal of Psychiatry in Medicine, 52(3), 236–244. https://doi.org/10.1177/0091217417730287
· Schohl, L. (2020, January 1). 12 ways to strengthen your next proposal budgetLinks to an external site. . Chronicle of Philanthropy, 32(3), 47.
· Pallotta, D. (2013). The way we think about charity is dead wrong Links to an external site. [Video]. TED. https://www.ted.com/talks/dan_pallotta_the_way_we_think_about_charity_is_dead_wrong?language=en Note: The approximate length of this media piece is 19 minutes.
· Walden University, LLC. (2022). Financial management and fund development [Video]. Walden University Canvas. https://waldenu.instructure.com/
Assignment due 7/24/23
· Review the Learning Resources on financial management and fund development.
· Explore People First San Diego’s website, including the sample budget located on the Dashboard. Then, review the strategic plan and SWOTT analysis you completed last week. Using these materials, consider which funding options would be most appropriate for the organization.
· Identify three funding options and critically think about the benefits and limitations of each.
Submit a 2-page paper (not including title page or references) in which you:
· Analyze three potential funding options for People First San Diego.
· Identify the benefits and limitations of using each option. These factors could relate to finances, logistics, efficacy, and more.
· Evaluate and rank the options in terms of their promise and feasibility for the People First San Diego organization.
Use the Learning Resources and research to support your Assignment. Make sure to provide APA citations and a reference list.