5 Ways Nonprofits Can Diversify Funding in 2023

5 Ways Nonprofits Can Diversify Funding in 2023

5 Ways Nonprofits Can Diversify Funding in 2023

Diversifying your funding is critical to your nonprofit’s stability and ability to achieve your mission. With the ups and downs of the past few years, many nonprofit organizations that were heavily dependent on just one or two funding sources found themselves in a tight spot. The lesson here is age-old: Don’t put all of your funding eggs in one basket.

As we plan for 2023 fundraising and all that the year might bring, we know that diversified revenue streams mitigate the risk of losing any single source of funding. Healthy nonprofits diversify revenue by tapping a variety of resource streams and funding channels.

Source: veteran-owned