Diversify, Diversify, Diversify
“Fortunately, we were able to minimize the impact because some of our other funding sources — specifically, the city of Austin and a couple of corporate and family foundations — stepped in to fill the gaps,” she says.
“By diversifying our funding sources to all programs, we are able to better weather these changes,” she adds.
While we are uncertain of the future, nonprofits can be certain of one thing: Organizations that invest time and resources into diversifying their funding sources will endure the economic ups and downs, shifts in charitable giving, and even the change in presidency — breathing much easier. It is never too late to get started. FS