Posted on June 21st, 2024

The SC Grantmakers Network invited Eric Speakman of Speakman Consulting to the June 13, 2024 quarterly meeting to speak to the group on the perils of the Nonprofit Fiscal Crisis, also called the Fiscal Cliff. For more information see the link to his presentation below!

As ARPA and federal care funding has long gone, people are beginning to struggle within their own homes with not having as much money as they did during the COVID era. As the generosity of donors who came out in 2020, 2021 and 2022 has begun to evaporate, the population at large is dealing with greater needs with fewer resources and decreased overall funding for nonprofits and their communities.

There is more debt, higher interest rates, and sky rocketing prices meaning more people in need. Coupled with a general lack of savings for emergencies and an increasing need for mental health services, It is no wonder that food banks and homeless providers are seeing a dramatic uptic in need.

Status quo is not adequate! Nonprofits will need to do more with less funding. How can we, as a sector, act in a more innovative way with our nonprofits? What are some strategies that nonprofits can employ?

  • Implement a Board giving campaign
  • Invest in Fundraising
    • Engage your board in fundraising and provide training, ensure fundraising appears in the board job description!
    • Allocated a % of the ED’s time to fundraising
    • Diversify fundraising streams
  • Stay in your lane and in your niche
    • ARPA funds allowed organizations to expand in to areas they were not competent to be in. Stick to what you know and leverage that knowledge
  • Prove your outcomes with metrics to assess success. Use evaluation to improve your nonprofit
  • Engage in Strategic Partnerships to increase administrative efficiency, programmatic streamlining, and best practices
  • The nonprofit sector needs to consolidate and scale innovation

Eric Speakman’s Nonprofit Fiscal Crisis (Cliff) presentation for more information

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