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Today, I'm going to discuss 5 different ways that your nonprofit can make some extra money!
1) General Services:
According to MissionBox, a fee-for-service approach for nonprofits is defined as “nonprofit uses its earnings to support its mission and prioritizes benefit to the community over profits. Your organization can grow financial sustainability with a fee-for-service model.”
2) Memberships
I see a lot of 501(c)6 nonprofits utilizing the basic membership service approach. For example, a Chamber of Commerce, Lions Club, etc. may charge individuals, nonprofits, and corporations a fee to enjoy the membership of the organization.
3) Tuition Fees
This is commonly associated with universities, but you could also think of this if your nonprofit is (or can!) offer any knowledge sessions.
Nonprofit colleges and schools do charge tuition fees! Just because it is a nonprofit college doesn’t mean it is dirt cheap tuition fees, either!
4) Speaking Engagements / Appearances
Your executive director, people who serve on your board of directors, or even some of your volunteers probably have amazing stories!
Of course, all won’t necessarily be offered a financial contribution to be speakers, but some might be. Building up to speak at national or international conferences can include a nice side income. But even speaking at local trade associations or chambers can produce some money.
5) Renting out Space
Does your nonprofit have a building or physical space? Are you utilizing the space at all times? Well even if you’re not, your are paying for rent 24/7!
If you aren’t utilizing the space at all times, you may consider renting out some of that unused space! You could rent out to other nonprofits or individuals to run workshops, AA groups, training, or even baby showers!
Maybe your office is closed on the weekends, but a smaller house church would love to rent out your conference room on Sundays? Or maybe you have a beautiful garden area outside (or real quick want to create one!) and you can rent it out for weddings or photoshoots?
Don’t forget to grab the FREE downloadable from last week’s episode!
Next week, we will discuss developing goods/product ideas for nonprofits to sell that can help bring in even more funding!
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Quit your toxic nonprofit job and replace your full-time income while writing grants part-time, from home! Join our students in the Freelance Grant Writer Academy to create Financial Stability and Flexibility through writing grants for causes you are passionate about: https://grantwritingandfunding.com/freelance-grant-writer-academy
World-renowned grant writing expert and Amazon bestselling author Holly Rustick provides coaching that helps new and experienced grant writers replace their full-time income while writing grants part-time from home (or anywhere they want to live or travel in the world).
She coaches changemakers to master grant writing and start to grow 6-figure+ grant writing businesses on part-time hours via her signature group program, “Freelance Grant Writer Academy."
As an unapologetic feminist, Holly’s work in coaching female grant writers to master grant writing, find their cause-area niche, and navigate value-based pricing and nonprofit sales is breaking glass ceilings for women all over the world.
Every week, she coaches thousands of people through the top-ranking podcast, Grant Writing & Funding, books on grant writing, and inside the Freelance Grant Writer Academy.
Holly has 20 years of experience in grant writing, and began her freelance grant writing journey back in 2005. While teaching in Kuwait and Indonesia, and then earning a Master’s Degree in International Political Economy in Belgium, Holly saw the light of setting up a virtual-based business in grant writing back in the mid-2000s. Having secured more than $45 million of dollars for nonprofit organizations, and then setting up a multi 6-figure freelance business, Holly has a mission to help female grant writers break out of toxic nonprofit J-O-B-S and create high-level income while freelance grant writing.
Inside the Freelance Grant Writer Academy, students have secured more than $225+ million in grant funding and $4+ million in revenue in their grant writing businesses within two years.
To amplify this work, she is past-president of the Guam Women’s Chamber of Commerce and was appointed to the Guam Business Advisory Task Force as an advisor to the first female governor of Guam. Holly lives on the island of Guam with her beautiful daughter, Isabella.
If you are interested in replacing your full-time income while writing grants part-time from home (or from anywhere in the world!) join the Freelance Grant Writer Academy!