By: Sage Intacct
Build sustainability and financial resilience with effective grant funding.
You need only scan the headlines to see nonprofits operate in a rapidly changing world, full of unexpected situations. From a strategic perspective, it is important for organizations to build multiple funding streams to provide stability and flexibility to adapt quickly to change. Your strategic planning should include a top-down approach to creating the best funding mix to support your mission.
Grant funding is a large and growing part of the strategic funding plan for nonprofit organizations. According to Wikipedia, “A grant is a fund given by an end entity—often a public body, charitable
foundation, or a specialized grant-making institution—to an individual or another entity…for a specific purpose linked to public benefit. Unlike loans, grants are not to be paid back.”
A significant, and potentially renewable, source of funds that do not
have to be repaid? Yes, please!
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