Exploring Alternative Revenue Streams
The State of Illinois has a $15 billion deficit that includes $8 billion owed to vendors (many of which are nonprofits!). It is a tough situation that is crippling Illinois human service agencies. We know diversifying our funding mix is critical to long-term stability, but there are many different approaches and options. Determining the right fit for your organization is key to success.
If you have been exploring (or thinking about exploring) alternative revenue streams, the Axelson Center has a workshop that is perfect for you. Self Generated Income: Surviving or Thriving will take place on Wednesday, April 06, 2011. This full-day workshop, led by Jimmie Alford of The Alford Group, will have nine expert speakers, including foundation officers and EDs who have started social enterprise programs. I have included the description below as well as a link to the registration page. Receive a special discount of 20% when you use the discount code "Alford."
Given the uncertainty of traditional revenue streams for nonprofit organizations, this full-day workshop will explore aspects of self-generated income that may be essential to not only survive but to thrive. The utilization of nonperforming assets, social ventures, related and unrelated business income, accessing venture capital and examples of successful business initiatives will be discussed. As government funding and fees for services are highly stressed, philanthropy is constrained and investment portfolios are pressured, finding new funding scenarios may be essential to mission integrity. The session will also examine brand equity as an asset as well as strategic collaboration to leverage resource.
Click here to learn more.