Cutting Costs for Nonprofits

In a recent article, the Nonprofit World listed 25 ways to reduce costs. Here are 10 of those suggestions.

1) Utilize the Board of Directors. Not only should your board help raise and save money, but they should approach their own contacts to find more donors and sponsors for your organization.

2) Talk to Local Businesses. Approach area businesses and ask to include your fundraising requests in their mailings.

3) Re-evaluate Your Paper. Up to 30% of your mailing cost is due to your paper. Buy inexpensive paper with a lower weight to reduce postage costs. Explain to your donors that you are trying to be a more effective steward of your resources.

4) Work with Other Organizations. Connect with other organizations to buy supplies and insurance. You could hold joint meetings or share office space.

5) Find Low-Cost Marketing and Public-Relations Methods. Ask local ad companies if they will write a public service announcement for your organization. Write letters to the editor or provide editorials on issues that your organization handles.

6) Use Video or Teleconferencing. Interview out-of-town job candidates and hold board meetings with out-of-town board members with video and telephone techniques. This saves the cost of airfare.

7) Read the Newspaper. The newspaper may contain information on corporations who will donate to you. For example, a company that is moving may donate equipment to your organization.

8) Save on Training New Employees. Use videotapes, computer training programs, books, and mentors to save on training new people.

9) Watch the Lights and Electricity. Turn off all lights and equipment when they are not being used. Turn down the thermostat when your building is unoccupied. Use more economical light bulbs. Emphasize to your employees the necessity of saving energy and then show them how much is being saved monthly.

10) Review Your Programs. Look at all the activities your organization does and ask if the activity is still needed and if someone else could do it at a lower cost.

Information taken from: Joanne Fritz. “10 Ways for Nonprofits to Cut Costs.” About.com. 

--Ashley High is a Research Assistant at Christian Foundation Grants (christianfoundationgrants.com) which is subscription database of foundations that provide grants to faith based organizations.  iDonate.com is a website (iDonate.com) that allows ministries to receive non cash gifts online

Print | posted on Thursday, June 12, 2008 12:00 AM

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