Effects of Funding Cuts on Organisations
With all the recent funding cuts and talk of austerity, this is certainly a challenging time for us all. The rise in unemployment, in my opinion, will have an impact on individual giving and Major Donors and Philanthropist will be more scrutinous when deciding who should get their money. There will be stiff competition for the funding grants that are available and organisations, now more than ever, need to be business ready and think of new and creative ways of fundraising:
Yvonne Stennett
Arts PR & Media, Events Consultant, Institute of Leadership & Management, Public Relations Consultants Association, IoF-Black Fundraisers Network Events Executive,
Winner Black Women in Business International Awards
Email: yvonne@prescienceproductions.com
Copyright ©2011 Yvonne Stennett & Prescience Productions. All Rights Reserved E&OE
Disclaimer
All comments published on Prescience Productions website are those of the authors alone. Comments do not represent the views or opinions of Prescience Productions, its Associates, or Brands affiliated with us. Prescience Productions reserve the right to remove comments at any time without warning.
With all the recent funding cuts and talk of austerity, this is certainly a challenging time for us all. The rise in unemployment, in my opinion, will have an impact on individual giving and Major Donors and Philanthropist will be more scrutinous when deciding who should get their money. There will be stiff competition for the funding grants that are available and organisations, now more than ever, need to be business ready and think of new and creative ways of fundraising:
- Ensure your Organisational systems and procedures are in place.
- Mission Statement - Have a clear vision of what you want to achieve (so many organisations fail to get funding because their applications or bids are generic and/or too vague). Remember, you may know what you want to do but in order to achieve your mission, you must be able to communicate this to others.
- Are you achieving the aims and objectives of your organisation or do you need to diversify?
- Partnering with another organisation which compliments yours may assist your funding bid - ensure you choose the right partners and have an exit strategy in place.
- To engage with Potential Donors, you must speak their language. According to Paul Mitchell, Director of the global financial services group UBS, the profile of the wealthy has changed. They’re dynamic, business-minded high earners, entrepreneurs or investment bankers in their late twenties and early thirties.
- Define your Business Model - Major Donors and Philanthropists like to get involved. They want to know how their money will be spent and the risks involved. Their expertise could add value and aid sustainability.
- Utilise the power already within your organisation. Recognise and nurture the social entrepreneurs you work with (including your volunteers) and the people they know.
Yvonne Stennett
Arts PR & Media, Events Consultant, Institute of Leadership & Management, Public Relations Consultants Association, IoF-Black Fundraisers Network Events Executive,
Winner Black Women in Business International Awards
Email: yvonne@prescienceproductions.com
Copyright ©2011 Yvonne Stennett & Prescience Productions. All Rights Reserved E&OE
Disclaimer
All comments published on Prescience Productions website are those of the authors alone. Comments do not represent the views or opinions of Prescience Productions, its Associates, or Brands affiliated with us. Prescience Productions reserve the right to remove comments at any time without warning.
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