According to the Nonprofit Finance Fund's 2012 Survey Results, more than 75 percent of nonprofits depend on federal or state funds. Yet, these contracts often fail to cover the full cost of the program but also over half these contracts are paid behind schedule. If the majority of nonprofits depend on resources that are too little and too late, there are several strategies you should put to work in your organization.
While rural nonprofits are particularly affected by these sobering funding statistics, my team at Execute Now! has actually observed this problem across the board with virtually all organizations that tap state government resources. If you plan to make federal or state funding part of your funding mix, we'd like to offer the following strategies...
Read recommended strategies at the Finance Fundamentals blog
By Erica McGeachy Crenshaw, President/CEO of Execute Now!, Inc.