Scott Koegler

Scott Koegler

Scott Koegler is Executive Editor for PMG360. He is a technology writer and editor with 20+ years experience delivering high value content to readers and publishers. 

Find his portfolio here and his personal bio here

Ask Yourself These Questions Before Starting Your Nonprofit

Starting a nonprofit is a noble idea and is often done by brave and selfless individuals. Sadly, most people start nonprofits without fully understanding what they are getting into. While starting these organizations might be due to good intentions, intentions alone cannot help you achieve your goals and fulfil your mission. Rather, it would be best if you did more digging deeper and developed sound strategies that will allow you to achieve your targets. Ask yourselves these questions before starting your nonprofit organization, regardless of the group of people you want to serve or the mission you want to achieve.

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These Financial Documents are Key to Every US Nonprofit

Nonprofits are organizations owned by shareholders and with no intention to earn profits. Rather, they seek to gain revenue to distribute for programs, grants and other support systems in society. While nonprofits are not required to earn profits by law, they have financial reporting systems at their disposal that helps them understand and report their financial statement. With auditing being a requirement of nonprofits, just like the for-profits, auditors and grantors, as well as the board of directors, might demand reports concerning the nonprofit’s financial health and the viability of the courses they are participating in. These financial documents are key to every nonprofit in the US.

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What is Your Fundraising Model?

Developing a funding strategy for a nonprofit is a challenge that is sometimes hard to surmount. For a nonprofit to be successful, it must have a proper funding model that ensures it is liquid and can fund its operations, mission and vision. These models do not have to be general to be useful. A funding model is a methodological and standardized method of building a reliable revenue base to support an organization's core programs and services. Although many nonprofits seek funding from various sources, research has shown that 90 percent of the largest embraced funding models built around a single revenue source. Here are a few funding models you can consider for your nonprofit.

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