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Wellington Not-For-Profit Network,
By Jennifer Pelvin
A downturn in the economy can have a dramatic effect on not for profit organisations. Some organisations have a policy to keep funds in reserve to help them through difficult times but not too many have sufficient capital to maintain 'business as usual' during a sustained down- turn or a recession.
An obvious concern in membership based organisations is a loss of membership fees - in charities it can mean a reduction in donations. Sponsorship, income from training and government support are also likely to be reduced in tough times.
Whether you need to modify some of your programs to get through a rough patch, or you need to embark on a major turnaround strategy, these tips will help you prepare for the imminent future:
To read the full article download the attached PDF document.
* Jennifer Pelvin is a management and governance consultant in the not-for-profit sector.