Principles of Fundraising, IMHO (Part 2)
Principle 8: A nonprofit is not a business. But if you don't run it like a business, you will go out of business.
Yes, nonprofits are about doing good, championing causes, changing the world. But like any business, they require people, record-keeping, decision-making and planning. Every nonprofit organization needs to remember that regardless of its great cause, sloppy bookkeeping, ineffective staff, and an inability to make good choices and establish wise strategies will lead to failure.
It may not happen today, and it may not be a huge scandal that brings the IRS to your doorstep. But sloppy management eventually will drive away high-quality, productive employees, wise donors and effective board members.
Next week, I'll finish off my list of principles of fundraising. And who knows, maybe that elusive 12th one will turn up.
Pamela consults with nonprofits, helping them develop their fundraising strategy and writing copy to achieve their goals. Additionally, she teaches fundraising at two universities, hoping to inspire the next generation of fundraisers to be passionate about the profession. Previously, Pamela led the fundraising programs for nonprofit organizations. Pamela is a member of the Advisory Panel for Rogare, the fundraising think tank at Plymouth University’s Hartsook Centre for Sustainable Philanthropy, a CFRE, a graduate of Wheaton College (IL) and Dominican University, and holds a Doctorate in Business Administration from California Southern University. Contact Pamela at firstname.lastname@example.org or follow her on Twitter at @pjbarden.