Growth can mean different things to different organizations, and managing growth in a responsible way is essential – regardless of the shape, size, or flavor of that growth. Too little growth can cause an organization to stagnate; too much can overwhelm an organization and cause detrimental effects, such as delays in delivering on the mission. So in our most recent research study, launched this week, Nonprofit Finance Study: Managing Growth, we asked the question: How are today’s nonprofits looking to grow?
In the course of our study, we asked a series of questions related to nonprofit sector growth to more than 300 nonprofit finance professionals, representing nearly every vertical – such as social services, education, and health care.The questions included the following topics:
- How do nonprofits define growth?
- How and what types of growth are nonprofits planning for in the next few years?
- How much does growth contribute to compliance and complexity challenges?
- How do Millennials’ view of growth differ from other generations?
What we discovered is that growth is important to most nonprofit organizations, and the search for additional revenue dollars (whether from donations, grants, services, or other sources) is constant. We also discovered growth changes the culture of an organization – sometimes this is a good thing, and sometimes, not so much.
The infographic below provides a snapshot of what we learned, including biggest growth challenges, what growth looks like and confidence levels in managing risks during growth.
So, what do your nonprofit finance peers think of growth and the complexities and challenges that come with it today? In our “Nonprofit Finance: Managing Growth” study we take a deeper look. You can also join us at our upcoming webinar, “Dynamics and Challenges of Nonprofit Growth,” on Thursday, July 27, 2017 at 12 pm CT, where we’ll be discussing our findings with the study’s authors.