![]() "If you build your plan to have a budget surplus at the end of your year, you then have the capital to reinvest in growing your organization and furthering your mission," he says. Mikko Sperber, managing partner and founder of Fundamental Strategy, recommends taking on a for-profit business mindset when writing the fundraising section of the nonprofit business plan. "It is critical for the sustainability of nonprofits that they are constantly being connected with grants and funders who will provide the financial resources needed for these nonprofits to continue offering quality and valuable assistance to the communities they serve," says Fernando Urbina, director of outreach for. ![]() Many nonprofit organizations aren't structured or created to generate income to support their community services, so fundraising is key. Typical nonprofit business plans feature many of the following elements:įor-profit businesses might be funded initially by owners or outside investors, but the ultimate goal is usually self-sufficiency through sales. "The sector doesn't measure worth in profit-it is measured in lives and in change created. "Nonprofits have the added burden and opportunity of impact in their business plan," says Sara Gibson, co-founder and CEO of 20 Degrees, a consulting firm serving nonprofits. The biggest difference is that nonprofit organizations focus on the problem they want to solve and how to fund programs and activities that help do that. A nonprofit business plan outlines that as well but approaches parts of the process differently. Here's what you need to know about how to write a nonprofit business plan.įor-profit business plans detail what a company does, how it does it, who does it, and how it pays for it. Like other types of businesses, successful nonprofits outline their goals and how they will achieve them in a written document known as a business plan.Ī nonprofit's business plan is similar to that used by a for-profit entity but has key differences. "We may be governed by a different part of the tax code and exempt from some-but not all-taxes, but we are businesses, too," says Rick Cohen, chief operating officer at the National Council of Nonprofits. ![]() While nonprofit organizations are purpose-driven rather than profit-driven, they have a great deal in common with their for-profit counterparts. ![]()
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