Updated: May 30
Nothing that has happened in response to COVID-19 is new. Job loss, disease outbreaks, and economic recessions all occur in cycles. (Well pandemics maybe once every 100 years but you get the picture). This means it's very likely they can happen again. Here are three things your nonprofit organization can learn from COVID-19 that will carry you through any potential future disaster: Have a Funding Contingency Plan If every funding opportunity evaporates today, what will your course of action be? This question helps define the bare minimum of how your programs and organization will continue to function. Do you have enough of your own funding to support your programs to operate at reduced capacity in lieu of shutting down altogether? Have a Funding Strategy Are you pursuing the right sources of funding? What percentage of your funding will come from fundraising? What about grants? This percentage may change over time and varies depending on your mission. Know and Anticipate What Factors May Impact Your Organization
Does your organization address issues related to hunger and homelessness? Know that the demand for your services may increase during times of economic downturns, while financial support could potentially decrease. What else have you learned during your response to COVID-19?
Shavonn Richardson, MBA is Founder of Think and Ink Grant Consulting™ www.thinkandinkgrants.com.
She is a grant writer, nonprofit consultant, speaker and an active member of the Grant Professionals Association.