Speaking of Fundraising: 5 Tips for Nonprofits in an Economic Downturn

4. Diversify the overall fundraising program. It’s not good business to put all of your financial hopes into one method of fundraising. The broader the range and the more creative your fundraising efforts, the more likely it is you’ll receive donations. At the American Friends of ALYN, we’ve initiated a broad outreach program to educate and raise awareness of ALYN Hospital, as well as diversified the overall fundraising program — a key component to building a lasting and robust nonprofit organization that can stand up to a recession.

5. Pay attention to detail. “The customer is always right” means one thing in a department store and something completely different in nonprofit work, where it means much more. A misspelled name or incorrect salutation in the corporate world might be seen as just a slip or oversight, but in the nonprofit world it can cost you a gift.

So back to the question — what makes a successful nonprofit? The recipe for success is easy: Run it like a for-profit business, only better!

Cathy Lanyard is executive director of the American Friends of ALYN Hospital, a nonprofit organization that supports one of the world’s leading specialist hospitals in the active and intensive rehabilitation of children.