Best Book On Get A Job At 50 A Step-By-Step The Forgotten Step – Strategies For New Nonprofits to Get Their First Money on the Books

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The Forgotten Step – Strategies For New Nonprofits to Get Their First Money on the Books

I am frequently contacted by new organizations looking to secure grants. When I say “new” I mean brand new with zero budget. Maybe you are one of them? You have a great lawsuit, 501(c)(3) status, and you have no money to go forward. Many new projects believe that grants are the best way to get off the ground and there are many novice grant writers who would like to convince you of this. In my opinion, this is not the best strategy.

More often than not, a lender doesn’t want to be the first investment. A new nonprofit needs to demonstrate that they have some money and put it to good use. For many this may seem like an impossible task, but it is not. This is a basic fundraiser. Here are five simple tips:

1. Garage Sale: You probably had one as a kid. This is a great way to announce the formation of your new organization to the community. Explain that all proceeds go back to the cause. If you and your board members contribute, there’s a good chance you’ll easily reach your first goal of $500.

2. House party: Leverage your relationships for first funding. Announce a spaghetti dinner at your house and explain how the $10 a plate supports the mission of your new nonprofit. If you are in a relationship with a church, you could even host the event there and have the additional support of the congregation after Sunday services.

3. EBay: Yes, a new nonprofit can grow rapidly using technology and this is just a suggestion. Technological resources are so plentiful that I will leave the topic to its dedicated article. Until then, eBay is a key step even for beginners. Explain in your sale that the funds are being used to support a new nonprofit.

4. Recycle: Recycle newspapers and cans and take them to your local recycling center. You and your board members can even ask family and friends to recycle. Explain that you are more than happy to collect materials from their home on a schedule and that all proceeds will go to a good cause.

5. Board Members: We recommend that new nonprofits have at least six on the board before pursuing grant funding. Lenders perceive the recommendations as an integrated system of checks and balances for managing the money they invest in the nonprofit. Six is ​​a good number. If each of your six, when they join the board, donate $50, you have your first $300. If each of your six pledges $25 over the next four months, the grand total within four months is $600.

Combine these efforts and your nonprofit could have its starting $5,000 to $10,000 within the first four to five months of its existence. Organizations with such small budgets are good candidates for the next step: small grants from local foundations.

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