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A Christian non-profit organization follows a vital goal and mission, propagating hope and humanity among God’s followers. But a goal and mission aren’t the only things that run such an entity. Money is crucial to manage the day-to-day operation and sustain for the long haul. If you run a non-profit Christian organization with a desire to serve God, you must have a financial plan in place. It can help you make ends meet and march ahead relentlessly to fulfill your mission. Here are some strategies you can rely on to stay afloat as you follow the chosen path.
Start with a plan
Most non-profit religious entities focus only on the short-term when it comes to meeting their budgets. The period often extends to a year, but you cannot expect short-term plans to carry you through. Experts recommend that you think long-term to sustain and reach your goals. Adopting a three-year master plan that encompasses your mission, vision, direction, and funding strategy is a good idea. You can even extend it to five years or more if you envision the long haul.
Create a strategy to add new donors
Non-profits rely on donations, and new donors are the lifeblood for them. Having a strategy to bring in new donors is essential to be financially sustainable in the long term. There are several ways to achieve this goal. You can organize fundraising events to connect with people, create awareness about your mission, and raise money. Creating awareness is the key to building a donor base. You can even use the existing donor base to connect with new ones.
Strengthen current donor relationships
Besides tapping new donors, you must enhance relationships with the current ones to retain them for the long haul. Identify the high-value donors and give them the highest level of personal attention they deserve. But do not give up on others who contribute smaller amounts less frequently. You must still stay in touch with them, though you may use broad communication tools such as newsletters and e-mail.
Explore alternative income streams
While direct donations keep non-profits going, they shouldn’t be the only source of revenues. Expert christian financial advisors recommend that organizations look for additional revenue streams as well. Consider creative ideas like fees for services, tuition, and exhibitions. You can even run a donation-based thrift store to add to your revenues every month.
Work on financial partnerships with local businesses
Corporate sponsorships can go a long way in building a strong foundation for your non-profit organization. You can connect with local businesses at fundraising events to explore such opportunities. Once you have such sponsorships, you can do your bit to promote your new corporate sponsors and consolidate the relationship down the line. The idea is to retain them for good and increase the financial stream over time.
Money keeps non-profits going, but these organizations do not have a business that churns consistent revenues for them. However, good financial planning can keep them thriving and growing over time. Following these financial strategies can keep your foundation running and getting closer to its long-term mission.
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