Your new nonprofit organization is now established. Now, it’s time to “go find money.”
This is how you are going to get money for your new nonprofit organization.
There are going to be 3 ways your nonprofit is going to receive funding. The public sector, the private sector, and general fundraising. The differences between the 3 are as follows:
Public Sector Grants:
These are grants issued by a government entity and are usually funded by taxpayer dollars. There are a whole plethora of government entities that will grant funds to you for different purposes. The catch is that they only become available every so often (these can be called cycles.) These funds are granted for a specific reason and you can only use those funds for that reason. Find which government agency correlates with what you are doing and then make sure to sign up for their updates for funding. They will send you alerts as to when something becomes available that you can apply for. A good place to start is signing up with your Secretary of State and Grants.gov.
Private Sector Grants:
These are funds that are issued by a private, grant making foundation. There are quite a few of these and the paradigm shifts according to what the trustees want to focus on at that particular time. Just like funds from the public sector, these funds are given for a specific reason and you can only use those funds for that reason. This sector is much more personable than the government sector. I don’t think I need to explain to you as to why that is. The down side is that finding out who can fund you can be a pretty lengthy process. You can also narrow the search down and go with a grant writing software company that will do the work for you.
These are funds that are just donated from the general public/random donors. These don’t have to be used for a specific purpose unless you conveyed that they were going to be when you solicited the funds. Make sense? You best make sure that if you conveyed it was going towards something when the donation was made, it better go to just that. Or you will run the risk of turning donors off. Fundraisers can come in all sorts of shapes and sizes from fancy dinners to auctions to pageants. The sky is the limit as to how you can raise money this way.
And that’s it……
Let me know if you have any questions!
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Disclaimer ****The material appearing in this publication is for informational purposes only, and is not certified professional advice. Please do not act on any information contained herein without seeking competent professional counsel.