C0-Funding Non-Profits

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|project 3 | |TEAM CO-FUNDING | |Marta Alvarenga, Nikole Amaya, Samantha Coats, Charhonda Cox & Harry Davis | | | |BUS 6332 Dr. Greene | |12/11/2013 |

|[In today’s economically challenged world, small non-profit organizations have to find creative and innovative ways to save money. | |Co-funding presents several obtainable ways to help CEO’s overcome financial challenges.] |

Team Co-Funding

Operating a nonprofit organization in these economically challenging times can be difficult. Although the demands from organizations’ constituents increase while resources and means decrease, the nonprofit sector must learn to find ways to do more with less. If you are a CEO of a small nonprofit organization, it is imperative to discover ways whereby you can operate more efficiently and create value to your organization at the same time. Listed below are suggestions to accomplish this goal. These recommendations can be used in nonprofits across the spectrum. These ideas are logics which have been proven to be worth spreading. Collaboration is the key to grow a small nonprofit to the next level. The three suggestions listed below will help promote sustainability if implemented correctly. Collaboration can help your organization immediately benefit from faster results and lower budgets. It can also be the best way of extracting insights to inform decisions and guide innovation, all while creating strong community relationships. Collaboration is important since it enables individual agencies to tackle problems efficiently through connections with other organizations. The three cost effective suggestions for non-profits include co-locating, co-op buying and college collaboration.

Nonprofits can create partnerships with surrounding college campuses and other nonprofit organizations to create a mutually beneficial relationship that will provide new opportunities to meet nonprofit’s program goals. Goals will be met while educating and empowering college students about the nonprofit sector, which creates a strong bond with the next generation of future volunteers, donors, and professionals. Nonprofit partnerships with college students will allow working hands on projects in the academic curriculum to gain professional experience and serve as an empowering opportunity to apply their course knowledge in achieving the nonprofit’s mission and vision. When a person volunteers and finds value in their contribution for the mission, they are more likely to value and promote volunteerism. When a person finds value in the mission through volunteering, it increases the possibility of donating to the mission in the future and continually volunteering. Ideally nonprofit organizations should collaborate with corporations to create partnerships with colleges to motivate students to pursue careers in the nonprofit sector while being active members of their community. “According to Jay Larson, at a Midwest University, students that are awarded work-study funds can use these funds at a nonprofit organization” (Aschenbrener). Creating an option to utilize financial aid work-study would be an “excellent opportunity for nonprofit organizations to gain additional part-time support at a small fracture of a cost” (Aschenbrener).

To begin the college and corporate...
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