Keys to Nonprofit Success in Complex Times

Nonprofits are invaluable as they support communities who will suffer due to the combined impact of illness and economic repercussion caused by the virus and current economic volatility. This presents significant and unique challenges for the entire sector.
Social distancing1 may prevent the rapid spread of this coronavirus and compel nonprofits to temporarily shut down or curtail their revenue-generating activities. Safety net organizations must balance the likely increase in demand for their services with the potential drop in fundraising. All nonprofits need to plan for the possible impact of market volatility on overall organizational health.
As the situation rapidly evolves, nonprofit leaders must focus on aiding their constituents, protecting their employees and operating in a financially sustainable manner. They need to act with urgency, but also with thoughtfulness.
Below are suggestions to help address the key areas of operations, communications, fundraising, finances, and leadership, with tactical steps to alleviate pressure and support more stable practices.
Click + for more insights.
Times of uncertainty are unnerving, but organizations that have existing plans in place will be better able to weather them. Nimbleness is important, but it is equally important to act in a measured, thoughtful way. Making extreme changes to organizational structure, your endowment model or your staffing can result in potentially unnecessary or unintended future consequences. Organizations that are caught off-guard by a disruption can take immediate steps to adjust, reduce expenses, leverage partnerships and continue fundraising efforts. Thinking carefully and leveraging your board and financial advisor’s expertise can provide continuity in a complex time.
Contact your advisor to learn more.
1 Centers for Disease Control and Prevention. “Interim US Guidance for Risk Assessment and Public Health Management of Persons with Potential Coronavirus Disease 2019 (COVID-19) Exposures: Geographic Risk and Contacts of Laboratory-confirmed Cases.” Published March 7, 2020, page retrieved March 13, 2020.
2 Fleming Glennon, Margie. “Responding to the Coronavirus Outbreak: Resources to Help Nonprofits.” Published March 12, 2020, page retrieved March 14, 2020.
3 Gibson, Sara. “Coronavirus Advice for Nonprofit Leaders.” Published March 9, 2020, page retrieved March 13, 2020.
4 2018 Bank of America® Study of High Net Worth Philanthropy
5 Streiff, Justin. “Coronavirus and fundraising: don’t change anything.” Published March 11, 2020, page retrieved March 13, 2020.
6 Gibson, Sara. “Coronavirus Advice for Nonprofit Leaders.” Published March 9, 2020, page retrieved March 13, 2020.