Our organization has a small pool of funders and would like to increase it to improve the long-term viability of the organization. What specific recommendations or resources would you suggest to aid in that process?

Answer: Diversifying your revenue sources is an critical step in ensuring your organization’s sustainability.  It is important to explore a mix of:

  • funders or funding sources, such as individuals/households, government, businesses/corporations, private and public foundations
  • funding types, such as ongoing funding (annual giving, multi-year grants), episodic or one-time funding; a capital campaign (if applicable); and bequests/planned giving
  • self-generated revenue sources, such as memberships, product sales and fees for service.

Don’t limit your efforts to advertised funding opportunities.  A well-drafted letter of intent is a good way of exploring unsolicited funding.  If you solicit businesses/corporations, stay close to home – businesses like to support their local community.

Finally, take the time to prepare a funding strategy; a three-year plan to guide your efforts in diversifying your funding sources. You can find a sample funding strategy on this website by going to Resources, then Free Downloads.

Good luck!