Nonprofits can have a hard time creating strategies that strengthen finances and operations, but what most don’t realize, is that you don’t have to do this alone.
Strategic nonprofit partnerships can offer multiple benefits, allowing you to address your pain points and strengthen your organization. Even if your nonprofit isn’t in financial trouble and is operating optimally, your board and management should still be alert to partnership opportunities that will improve efficiency, sustainability, and impact.
The first step to creating an effective nonprofit partnership is getting clear on what you want. Understanding your “why” will help to define clear goals which will guide you to your best collaboration options.
To help you identify your organization’s needs, let’s take a look at how a successful partnership can benefit a nonprofit:
1.Cost cutting – Integrating with another organization allows you to share administrative and infrastructure expenses by leveraging more resources, increasing efficiencies, and becoming more cost-effective.
2.Expand and strengthen offerings– Without increasing your budget, you can advance your mission and strengthen the impact of your programs by leveraging more access to tools, resources, and services.
3.Increase brand credibility – Partnering with a well known, trusted organization can increase your visibility, build brand awareness, and improve your public image. You’ll also enjoy the benefits of cross-promotion, the ability to reach another organization’s audience. This is powerful social proof that builds trust and garners support.
4. Stronger leadership – You’re able to tap extra skills and abilities while developing leadership in the direction of the future for nonprofits – external alliance making.
The end result of a successful nonprofit partnership is that both organizations are stronger. They’re in a better position to withstand financial fluctuations and will attract more support through greater efficiencies, increased value, and engaging with a broader audience. The right nonprofit partnership can secure a sustainable future for both organizations.
A great example of this is Chicago Youth Center’s (CYC) partnership with Family Focus.
Due to shrinking funding streams, CYC’s solution was to look for a strategic, financially strong ally. They chose to partner with Family Focus. The new relationship benefits both organizations as they are able to share infrastructure and administrative costs, strengthen their programs and expand their impact.
The point is, you’ve got a lot of great options in how you can be successful with your nonprofit and truly expand your impact, and you don’t have to do it alone.
And there you have it! 5 simple things to get a quick, hassle free, and affordable 501(c)3 tax-exempt nonprofit formation with Yippiekiyay.
To your mission
Jacqui Long | Yippiekiyay