Nonprofit growth can impact several areas of the organization, from funding and operational overhead to technology and risk management. It’s a balancing act, for sure. When we experience change around us, we must be able to adapt quickly, but smartly. How are nonprofits preparing for and handling growth, despite the challenges? In our most recent research study, “Nonprofit Finance Study: The Dynamics and Challenges of Growth,” you’ll learn from nonprofit financial professionals what their perspectives encompass.
We asked 321 nonprofit finance professionals, representing nearly every vertical – such as social services, education, and healthcare – some questions that cover the following topics:
- What does growth mean to your organization?
- How are you preparing for and handling growth?
- What do you see as your biggest challenges?
- How and what types of growth are nonprofits planning for in the next few years?
What we discovered is that growth continues to be important to nonprofit organizations, with a few shifts towards the positive. From our 2017 study, some aspects of growth haven’t changed:
- Nonprofits still anticipate growth in the next year and beyond
- They’re still looking for new ways to generate revenue
- They’re still at least somewhat confident in their ability to manage risk as they grow
However, some shifts surfaced:
- Less reliance on government grants
- A need to be more transparent with funders as the organization grows
- A focus on purchasing new technology and moving to the cloud
Interested in learning more from your nonprofit finance peers? We invite you to download the full study – “Nonprofit Finance Study: The Dynamics and Challenges of Growth” and take a deeper look. If you’re an MIP customer, you can also join us at our upcoming webinar, “Managing Nonprofit Growth,” next Tuesday, October 30, at noon CT, during which we’ll be discussing our study findings.