“Nonprofit” Doesn’t Mean You Have to Be a Financial Wreck
I would simply like to call your attention to this very strong piece, titled “Is Your Nonprofit Theater Headed for its Final Curtain Call?” by Allan Vella of Atlanta’s Fox Theatre, that, despite the dire title, is not so much about an organization facing its “final curtain” as it is about some very practical, sound and concrete tips for running a nonprofit arts organization.
But before I give way, I’d like to say, Allan, that I’m going to flatter myself by saying you’re channeling me, if unknowingly, with this paragraph:
“It’s time to throw the old model out the window and start thinking like a private entity. The primary goal should not be to fundraise, but to generate unrestricted revenue sufficient to meet and even exceed operating expenses such that you have reserve funds and recapitalization money. If you have your financial house in order and a strategic business plan, you might actually start attracting donors because they can see their money being put to good use.”
Damn straight. “Nonprofit” is just a tax designation, not a prison sentence.
Read it all, especially if you’re a nonprofit.