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What Steps to Take in Preparation for 2021 Featured

What Steps to Take in Preparation for 2021 Christopher Sardegna

If you are a nonprofit organization looking to improve things in the future, the first thing is to ensure that you know what the future holds and devise a good strategy to address the concerns. While forecasting may not be correct always, as in the case of 2020, which remains the most challenging year for fundraisers as it is for all industries, predicting the future still has many benefits. In this article, we give tips on steps to take in preparation for 2021. 

  1. Budget, forecast, and plan

A new year comes with new responsibilities and new needs. This demands that organization forecasts, plans, and budgets accordingly to meet these new demands. Unlike for-profits, nonprofits must be prepared to manage uncertain financial situations better because their funding sources are regulated more. As shown by the COVID-19 pandemic, keeping an extra amount in your bank account just in case is important because you never know what may come up. Also, forecasting allows you to explore all the possible scenarios and the direction that the nonprofit environment can take. 

  • Define your nonprofit’s vision

To build a concrete nonprofit strategy for the New Year, it is crucial that you first have a proper understanding of who you are as an organization. Without this knowledge, it would be almost impossible to connect with the right audience, communicate your mission, and get the funding you need for your different causes. Even if your nonprofit has been around for a while, it is still crucial to remind yourself of your vision at the beginning of the planning process. Doing so will ensure that your business's vision, mission, and values remain at the top while you plan to accomplish your fundraising goals. 

  • Be flexible during the budgeting.

As we slowly emerge from the pandemic, getting an accurate operating budget is not always easy because no one knows what lies ahead. As such, budgeting for all the 12 months of 2021 might not be visible practically. The management and finance department should adopt an incremental marketing approach where the budget is increased depending on the prevailing conditions. Budgeting can be done in quarters where the board can approve the budgets for the Q1 activities and adjust the Q2 budget as needed depending on Q1. This will help address some uncertainties that may arise on the way. Build your budgets in a way that you can easily change inputs without having to redo them entirely. 

  • Expand donor network

The goals of any nonprofit depend on the number of donors and the amount obtained from them. Whatever the goals you have, one of them is likely about how you should expand your network of supporters and how to get new donations. As you embark on a new campaign, reflect on your past experiences, and carefully look at the areas with the potential to give you new revenues to fund future campaigns. You can focus on people who have previously expressed interest in your cause or organization but have never made their first donation. Introduce yourself and your brand and make them understand your cause. Also, involve your donors in your activities. Donors must know where their money is going. Involving them will not only build their confidence but will also see them bringing new supporters. 

  • Delegate activities

After a thorough investigation, you must determine what has worked before and define your mission and vision as well as the new trends and goals. Now go ahead and plan the stewardship ad fundraising activities you need to undertake. Identify people who can help you achieve what you need, set timelines that need to be met, and think of why the activity will be useful to your cause.

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Scott Koegler

Scott Koegler is Executive Editor for PMG360. He is a technology writer and editor with 20+ years experience delivering high value content to readers and publishers. 

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