There’s money out there. How does a nonprofit organization tap into it?
An organization can apply for grants from foundations, government agencies, or private companies. Such applications typically involve a proposed budget and metrics showing the value of the programs and may require follow-up reporting to the donor for the duration of the grant period.
This is just one option for an organization’s funding; there are other, less traditional methods. Consider the Ice Bucket Challenge of 2014. The challenge went viral on social media as nominated participants were filmed having a bucket of ice water poured over their heads. It raised awareness of ALS/Lou Gehrig’s Disease while at the same time leading to $100 million in donations for the ALS Association. Creativity, then, can lead to major rewards. But not every funding method will be right for every organization.
Review the Learning Resources on financial management and fund development.
Explore People First San Diego’s websiteLinks to an external site.. For this Assignment, review the sample budget located on the Dashboard. Then, review the strategic plan and SWOTT analysis you completed last week. Using these materials, consider which funding options would be most appropriate for this organization.
Identify three funding options and critically think about the benefits and limitations of each.
Submit a 2-page paper (not including title page or references) in which you:
Analyze three potential funding options for People First San Diego.
Identify the benefits and limitations of using each option. These factors could relate to finances, logistics, efficacy, and more.
Evaluate and rank the options in terms of their promise and feasibility for the People First San Diego organization.
Use the Learning Resources and research to support your Assignment. Make sure to provide APA citations and a reference list.
