The Impact Issue #5: What’s Your Nonprofit Sustainability Plan?

Hey there,

Between all your new opportunities, ideas, and – of course – deadlines, it probably feels like you’re going a million miles an hour.

That’s why we developed this newsletter. (Shoot, that’s why we created our entire platform!)

So take a few minutes to decompress and dive into tips on nonprofit sustainability, the blockchain, and the ever-elusive federal grants, plus opportunities, webinars, and so much more.

We won’t blame you if you turn on Do Not Disturb for this one.

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Pitfalls and Pointers

Imagine you’re a funder.

You’ve spent months narrowing down the application pool for your latest grant and are finally down to two candidates:

1. An organization who can only run their program until your money runs out
2. An organization who has a plan to keep the program running beyond the initial funding

We know who we’d be more likely to go with, and we have a feeling you do, too.

⚠️ Pitfall: Not Having a Sustainability Plan

Funders want to invest in projects that will have a lasting impact.

And more importantly, organizations with sustainability plans have a much easier time carrying out their mission.

💡 Pointer: Create (and Update) Your Sustainability Plan

If nonprofit sustainability is a new concept for you, the three pillars are a great place to start:

1. Mission and Vision: The heart of every nonprofit’s work.
2. Financial Health: How will your organization function when the money’s there? How will it function when it’s not?
3. Operational Resilience: There’s a lot of risk involved for nonprofits. Make sure you have a plan for every challenge you might face.

And once you have the basics down, the work never stops.

A nonprofit sustainability plan should be a living document, evolving as your nonprofit grows and experiences challenges.

The best time to develop a sustainability plan is the day your organization is established.

The second best time is now.

👉 Get started with 8 key steps to write a sustainability statement!

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Tech You Should Know

You’ve heard the buzzwords – crypto, NFT, decentralization…

Even if you understand the basics, it can be hard to imagine how these new concepts can fit into your nonprofit.

Well today, we’re breaking down the tool that’s at the root of it all:

What:

Blockchain is a digital ledger that publicly and securely tracks the movement of money, products, and other assets.

How Grant Writers Can Use It:

• Secure Fundraising: Donations can be sent instantly and securely to your nonprofit using the blockchain instead of a traditional payment processor.
• Transparency and Accountability: The blockchain is immutable, allowing your nonprofit to keep an accurate record of every dollar – and build trust with donors.
• Global Efficiency: Traveling with cash can be challenging and risky. Cryptocurrency uses the blockchain to quickly and securely move funds as needed, no matter where your cause takes you.
• Record-Keeping: Skip tedious data-related tasks (and minimize the chances of human error) by letting the immutable blockchain streamline your workflows.

Keep in Mind:

• Anonymity: Donations can be made anonymously, making it difficult to build relationships or provide transparency regarding your nonprofit’s financials.
• Regulation: Cryptocurrency is largely unregulated, which can make complying with tax laws and federal guidelines challenging.
• Volatility: The value of your crypto donations could change at any time – drastically.

🔗 Get more details on how to leverage blockchain technology in your nonprofit ➡️

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Expert Perspectives

✅ Becky Harris on building a more efficient fundraising strategy

There are two things every nonprofit never seems to have enough of: time and money.

Needing money means applying for grants – as many grants as possible.

And applying for grants takes time. A lot of it.

We recently spoke with philanthropy director Becky Harris, who developed The “5 Checks” Method to determine whether or not an opportunity is a good use of your time – and will get you the money you need.

Here’s her expert advice:

1. Is the funder invite only or open to unsolicited applications? Applying to an invite-only funder can be both unproductive and harmful to your organization’s reputation.
2. Is there any alignment between our nonprofit and the funder? Look for clear synergy, ensuring your application will resonate with the funder’s objectives.
3. Does location matter to the funder? Don’t cast your net too wide – look for funders that typically support projects in your area.

(Insider Tip: Instrumentl displays this data in an easy-to-read heat map!)

4. Is this funding relationship sustainable? When possible, prioritize going after long-term, multi-year support.
5. Can we reuse our templated resources? While personalization is important, using templates for common information can save you time and energy.

(Insider Tip: We have templates and storage features to help with this, too!)

Looking for more expert tips on streamlining your grants processes?

📍Check out Becky’s full breakdown of The “5 Checks” Method!

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Grant Myths: Busted

If you’re like the rest of the nonprofit world, you probably have a love-hate relationship with federal grants.

But if the high dollar amount is beginning to lure you in, make sure to go into your first federal proposal fully prepared.

💥 Busted: You should focus primarily on budget and reporting deadlines.

Although they’re important, there’s a lot more that goes into federal grants than just budgeting and keeping track of deadlines.

Make sure you also have all your documents, thorough and robust systems, and internal controls to show funders your organization is more than just “on time”.

🕵️ Uncover more misconceptions on federal grants – and start winning them!

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Opportunities Spotlight

🎭 Paul M. Angell Family Foundation Grant - Performing Arts

Who It’s For: Professional performers, presenters, and educators located in the Chicago area, Cleveland, Detroit, or the Mid-Atlantic Region

Next Deadline: Jun 10, 2024 (Letter of Inquiry)

Grant Amount: Unspecified

The Details:

• Organization does not currently support dance or film
• There are three types of support that can be awarded:some text
  • General Operating: Funds may be applied in any manner in which the organization sees fit
  • Program/Project Grants: Grants are awarded to a specific program or goal
  • Education: Grants are awarded to support lectures, demonstrations, workshops, and similar programs

👉 Apply Here!

👩 AAUW Community Action Grants

Who It’s For: Community-based nonprofits with innovative programs that promote education and equity for women and girls.

Next Deadline: Nov 15, 2024 (Predicted)

Grant Amount: US $3,000 - US $10,000

The Details:

• AAUW encourages proposals for projects that address local community needs, build links among community partners, or build partnerships between schools and community organizations
• Project-related expenses could include:some text
  • Shipping, photocopying, or office supplies
  • Professional fees or honoraria for speakers or consultants
  • Equipment purchases
  • Food, beverages, or lodging for camps or related activities
  • Temporary, hourly clerical help
  • Transportation

👉 Apply Here!

Nothing catch your eye yet?

👉 Explore thousands of other grant opportunities!

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Networking Nook

The opportunities that were originally shared in this issue of The Impact have since passed. To check out more recent and upcoming live events, go here.

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In Case You Missed It

📑 Article: How to Write a Winning Grant Proposal: A Nonprofit’s Guide to Securing Funding

The University of San Diego breaks down different types of grants, simple steps to begin grant writing, and essential Dos and Don’ts before hitting “submit”.

👉 Get the Full Story!

📼 Video: 7 Ways to Avoid Burnout as a Grant Writer

In their latest video, Learn Grant Writing addresses one of the most common challenges of being a grant writer: burnout. Get tips on setting boundaries, charging what you’re worth, and staying motivated.

👉 Watch the Video!

🎙️Podcast: Pro Tips in Planned Giving (with Rich Goode)

Kathryn Van Sickle is a passionate fundraiser sharing her knowledge and advice in The Development Debrief. In this episode, she sits down with Rich Goode to get his tips on navigating the world of planned giving.

👉 Listen to the Episode!

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Don’t Let the Grants Process Overwhelm You

When you’re in nonprofits, it’s easy to feel like a small fish in a big pond. Instead of swimming aimlessly, get the information you need to make a big splash with Instrumentl’s intuitive grant prospecting, tracking, and management software.

➡️ Your 14 free days start now 🔥