Mike is the executive director of a nonprofit organization that serves persons w
ID: 370521 • Letter: M
Question
Mike is the executive director of a nonprofit organization that serves persons who were recently incarcerated and their families. In looking over the anticipated needs of the organization, Mike and the board of directors project a need for $1,000,000 for the coming year's operations. At present, funding is only available for a $900,000 budget. They are seeking your advice on how to raise the additional $100,000 needed. Advise them on what steps they should take, and give your rationale.Mike is the executive director of a nonprofit organization that serves persons who were recently incarcerated and their families. In looking over the anticipated needs of the organization, Mike and the board of directors project a need for $1,000,000 for the coming year's operations. At present, funding is only available for a $900,000 budget. They are seeking your advice on how to raise the additional $100,000 needed. Advise them on what steps they should take, and give your rationale.
Explanation / Answer
Mike and his non-profit organization can take the following steps:
A. Organizing fund raising events and inviting people who can contribute to the welfare of the families. The event sponsorship can also be sold to the corporate or business houses who can devote a part of funds as a part of corporate social responsibility. It will create a healthy collection of funds to meet the requirements.
B. Building network with those funding agencies who offer the financial support to the non-profit organization. It will provide help to Mile and his organization, based upon the work the organization has done in the past.
C. Channelization of resources of values from the organizations who don’t want to give the monetary support. Here, it is important to understand that a non-profit organization requires different resources such as computers, furniture and other resources to run the organization. It can be provided by the other organizations.
D. Sending mailers to the people who can donate funds for the needy people and the families, served by the organization. It will create another channel to generate the funds to meet the organizational requirements.
Besides, the organization can approach the society, influential people to endorse the work and approach their own team to contribute the funds as per their capabilities. Further, the financial prudence will also help the organization meet the budgetary requirements.