Money Bumper

How charities can improve their finances

How charities can improve their finances
May 19
16:03 2013

charityIn difficult economic times, one of the first things that people hold back on is a donation to a worthwhile cause. Many such Bodies, Charities and Nonprofit Organizations regularly report that their income is down in times of recession and that message has come over loud and clear in recent years.

There is no magic answer to replacing those donations but there are things that such organizations can do to boost their funds. After all there may be ongoing projects that desperately need the funds so that they can actually continue. They cannot make up the shortfall in personal loans.

There is no investor pressure in these Bodies but there is the pressure of survival. Many of the typical projects are environmental improvements; some are aimed at improving the situation of the needy. Those things are just as important in the hard times, some even more important, as the good times.

One initiative that an organization may not have adopted is membership, either for an individual or a business. There has to be a value in the membership. Things like regular updates and newsletters help to create the feeling that the member has a direct involvement in the organization and its good work.

The Presidential Election of course has just finished and there has been debate on the amount of money that has been spent on the two campaigns. Each party ran a series of fundraisers which were often special events which the wealthier in the various States attended.  They were effectively making Party donations by attending. The ordinary person with financial commitments such as mortgages and personal loans were not really the target audience though their vote was precious to both parties.

Fund raising is something that organizations can do though perhaps not on the same scale. Fund raising can include working with others on schemes by which the nonprofit organization benefits from the use of coupons or the sales of everything from cookery books to calendars.

While collections around the community may not have been so popular in recent years a jar is really a simple way to get money without the need for any labor other than putting the jars out and emptying as required. It is a cheap form of advertising as well keeping the organization’s name in the public eye.

There are always people keen to participate in activities and events; running in a marathon has become a challenge that many want to try at least once in their lifetime. Many adopt a charity to run for and family and friends willingly donate as they see the effort that goes into training before the actual event. The beneficiaries of these donations are the good causes, local and national, that may be finding times hard. The individual can get personal loans. They are not an option for these organizations.

There is no doubt that many good causes have found things difficult lately. Sometimes they rely exclusively on voluntary labor; on other occasions they employ staff to run the day to day business in which case hard times threatens someone’s livelihood, someone with financial commitments such as personal loans to meet. Money problems can reduce the enthusiasm for the job hen enthusiasm is one of the vital factors in the success of nonprofit organizations.

The economy is on the upturn even if the days of reaching pre crisis unemployment levels are some way off. That upturn will hopefully be reflected in an increase in donation support to nonprofit organizations all of whose aims are to create a better life by improving the environment or the circumstances of the poorer sections of society.

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