10 Things Nonprofits Won't Tell You
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December 10, 2009, SmartMoney Magazine - 1. “Fund-raising’s gone viral.”
For the 1.9 million tax-exempt nonprofits in the U.S.—including charities, private foundations and arts organizations—finding new sources of funding is more important than ever. In 2008 donations totaled $308 billion, down from $314 billion the year before, the first decrease since 1987. In fact, a recent survey by the Nonprofit Finance Fund, a financial consultant for nonprofits, found only 12 percent expect to “operate above break-even” this year. So it’s hardly a surprise that many nonprofits have turned to Facebook-style “social marketing,” since “the only thing it costs is sweat,” says Curtis Hougland, founder of social-media marketer Attention.