From the course: Nonprofit Management Foundations

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Understanding sources of revenue

Understanding sources of revenue

From the course: Nonprofit Management Foundations

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Understanding sources of revenue

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- When a journalist asked career criminal Willie Sutton why he robbed banks, Sutton supposedly replied, "Because that's where the money is." For nonprofits, finding the money is not always so easy as it was for Slick Willie. The array of ways to raise funds for you ranges from small individual gifts to major foundation grants, from legislative line items to government fee-for-service contracts, from corporate philanthropy to self-sustaining earned income enterprises, and more. Each of these fundraising approaches requires special skills, and certain fundraising strategies are not right for everyone. For instance, persuading a corporation to risk its reputation and publicly partner with your cause is different than appealing to a private family foundation for anonymous support. Likewise, a fundraising strategy that works for an outspoken advocacy group like Greenpeace or Mothers Against Drunk Driving will be different than one that works for a nonprofit that discretely provides direct…

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