Insights: Article

Consider Sustainable Revenue Sources for Your Nonprofit

By Peggy Jennings

March 29, 2017

One way to mitigate any potential effect of tax law reform on your nonprofit organization is to develop sustainable revenue streams. Many nonprofits today are looking to create revenue-producing services to supplement donations and grant revenue.

What sort of ideas are being implemented?

Social Enterprise
A local food bank created a recycling entity as a response to their own need to dispose of crates and boxes received with food shipments. A nonprofit providing nutritious meals to low income students expanded their program into a professional kitchen providing culinary and nutrition training to parents and employing the parents in a catering business. And there is an energy resource entity providing free energy assessment and repair services to low income families that expanded their program to provide the same energy assessment services to the public for a fee.

Rethink the Gala
A favorite topic of mine is the re-creation of the annual gala. I happen to enjoy getting dressed to the nines and attending fabulous events but the cost of such events these days is cutting into the profits realized by the organizations. Alternatives we have seen include poker tournaments, refugee-led cooking classes highlighting cuisine of their homeland, and a dance competition pairing local business leaders with dance instructors for a final dance off. Fun!

With more than 2,000 nonprofits served by Eide Bailly, we have significant insight into how those organizations are staying relevant and also viable. Contact us today to discuss your ideas on expanding your community impact. 

Latest Insights

January 18, 2019
Article
While having your audit team onsite can be stressful, there are certain steps you can take to reduce that stress and make the most of your audit.
January 17, 2019
Article
In this installment of our Common Single Audit Findings and Remediation Series, we discuss the three distinct parts that make up Requirement “G.”
January 17, 2019
Article
Here’s a list of what the IRS is and isn’t doing as the  partial government shutdown rolls on.
January 17, 2019
Article
Eide Bailly recently sat down with Bill Stovall, CEO of Community National Bank in Texas, to hear his thoughts on the current state of the banking industry.
January 15, 2019
Article
The back and forth on tariffs is wreaking havoc for many businesses. Here’s what you can do to help ease the pain.
January 15, 2019
Article
If you are a farmer who sold to a cooperative in 2018, you will need to provide additional information if you’re looking to take advantage of deductions this tax season.