For many folks seeking assistance or services, whether it’s day-to-day or in a time of crisis, the cost of resources can deny them access simply because they do NOT have the financial means to pay for them. This has created a need for discounted services, giving birth to thousands of awesome nonprofits that are able to provide these services at an affordable rate.
Most nonprofits that step to the plate to meet these needs, however, are dependent on the eb and flow of the annual giving patterns of their supporters. Some years there is plenty and other years they wonder if they will have to close their doors. Not because their supporters don’t care about what they do, but because their donor base may have experienced a decline in income and thus their giving. Or after decades of faithful support they have transitioned to retirement and are forced to stop donating all together.
So how does a nonprofit offset the ups and downs of annual contributions? The answer: Endowment Funding. Continue reading “Growing Financial Stability”