As a declared non-profit organization, any cash that you see pass through your bank accounts is used to help solve a social problem in your society or across the world. You want every penny of that cash to find its way into the pockets and the processes that it needs to be – and not into business overheads and high costs that you could bring down with sound management and savvy oversight.
5 Effective Ways to Cut Non-Profit organization Costs
As such, this article has prepared a number of tips to help you make your non-profit as cost-effective as possible, ensuring that the money you raise is always directed exactly where it should go.
Non-profits operate on a different spectrum to businesses with the profit motive. As such, you shouldn’t be expected to pay some of the higher tariffs that other businesses are happier to pay, as they’re simply turning over more cash. If you let everyone you’re dealing with know that you’re a non-profit – and that you’re not able to shoulder huge business costs – you might just find yourself negotiating a special price for your organization.
Don’t Be Afraid of Freebies
On the more extreme money-saving end of the spectrum are freebies, those business assets that you manage to negotiate for free on the basis that you’re a non-profit and therefore whoever grants you the freebie is technically contributing to that non-profit organization. You’ll be most likely to experience such freebies if you ask conference centers and meeting rooms for the pleasure of using their facilities for one day online, but it’s always worth seeing who’ll be happy to do pro bono work with you in good faith.
Saving on Overheads
Meanwhile, you can save on your business overheads without having to negotiate at all, simply by looking on the online price comparison websites that’ll directly show you how to locate the best deals for your buck. Look up the prices for business electricity compared neatly online, for instance, in order to ensure that you can guarantee you’re paying the least possible amount on your utilities. In this way, you’ll be able to direct cash saved into more important endeavors.
If your non-profit is inspiring in some way – and let’s face it, most are – then you may well be able to attract willing employees who’ll be able to work for you on an unpaid and voluntary basis, saving you the costs associated with hiring extra staff. Now, volunteers are giving up their time to help you, so they shouldn’t be seen through the lens of money-savers, but still, this is something many non-profits can look to in order to save a little of their outgoings.
In order to bring your non-profit squarely into the digital age (and to guarantee that you’re reducing your costs to the point at which they can be reduced no more). It’s advisable to digitize every possible strand on your business operations. This means everything from communications to membership cards to paperless business to outsourced software assistance. All of this will save your non-profit cash. Non-profits work to help people’s lives. They need cash to do this, and any cash wasted on business processes detracts from their ability to help. This article deals with this problem by offering tips as to how to save cash in the digital age.