Nonprofit Organizations are Businesses

Nonprofit Organizations are Businesses

Many people see nonprofits as a league of their own, with their own ways of operating and reaching their goals. While nonprofits have separate tax laws, the misconception that they are a separate business model is misleading. Nonprofit strategic plans are the same as a for profit business plan, outlining the goals for the organization and how they will implement the tools they have to reach those goals. While nonprofits are focused on giving to others than to accumulate profit, they need funds to complete their mission, and so they have to be run in the same way as any for-profit business. Nonprofits are businesses, and need to be managed as such. We are here to clear up some common misconceptions about nonprofit organizations. Nonprofits are all 501c3s All 501c3 organizations are nonprofits, but not all nonprofits are 501c3s. In fact, there are 27 different types of legally recognized nonprofits. There are 501c6s, 501c13s, 501c19s, and many more. Within the commonly...
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The Value of Corporate Social Responsibility in Sports

The Value of Corporate Social Responsibility in Sports

Stats and research provided in partnership with ZeroCater. Plenty of people give back for all sorts of reasons during the year. Lots of giving is concentrated at the holiday time when people’s needs become much more amplified but people give back throughout the year, too, because frankly the need is always there—it doesn’t matter when. That’s what’s led many businesses to figure out how to give back as a team, and it’s also what’s led many corporate leaders to discover what the benefits are of giving back for their company and employees. There are obvious reasons why giving back is so important—it does good and helps to build teamwork. But it also helps people reduce their stress and increase their happiness. Why should you consider giving back as a team for the benefits it offers? ZeroCater created an informative graphic to explain it. We took a closer look at each part of the graphic and how it can apply to sports...
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Tips to Plan a Successful Charity Fundraiser

Tips to Plan a Successful Charity Fundraiser

Charity fundraisers are a great way for nonprofit organizations to raise money and awareness for their cause, while also courting major donors. As with any event, there is a lot of hard work that goes into throwing a fundraiser of any kind. There is money that has to go into the event and staff take time out of their duties with the organization to support the fundraiser. An unorganized fundraiser can turn out to be a waste of time and money. But, a well-run fundraiser can be a significant asset to your organization and create added impact and awareness for your cause. Here’s how to make sure your event is well-done. 1. Decide what kind of fundraiser works best for your organization. There is a wide variety of fundraisers that exist. From galas to sports tournaments all the way to movie nights or dine-ins at your favorite restaurant, the options are important to consider. Sometimes your organization may need to...
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How For-Profit Businesses Can Support Nonprofits

How For-Profit Businesses Can Support Nonprofits

We attended an event hosted by Baltimore Sports and Life earlier this week that focused on how businesses can support nonprofits more efficiently. The event featured a panel of successful Baltimore nonprofit organizations talking about their needs and best strategies for working with for profit businesses. We are here to share our takeaways for how for profit businesses can work with nonprofits. You don’t have to just give money. Each of the panelists emphatically said that money is not the end all be all for nonprofit giving. Many nonprofits need funding, it’s true, but they also need volunteers and in-kind donations (items you have on hand that you can donate to the organization). There are always ways to give your time to nonprofit organizations and the best way to find out what they need is to ask them! Your employees and your business can benefit from volunteering. Many nonprofit organizations need volunteers. The nonprofits featured on the panels all emphasized this point and...
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How to Create Your Next Brilliant Cause Marketing Campaign

How to Create Your Next Brilliant Cause Marketing Campaign

A cause marketing campaign or charity component for a project can create quite a bit of buzz about the work you are doing. It can become a part of who you are as a brand and help you reach an audience of like-minded consumers who want to make a social impact. But how do you find that idea? How do you get to that one thing that differentiates you from all the rest?  We have the tips you need to start creating a brilliant cause marketing campaign. We also broke down the brilliant cause marketing campaign that was just announced by the ride share company Lyft to help us understand the important parts of a successful program. Lyft recently announced that they will offer discounted and free rides on election day (Nov 6) for those without access to transportation. Know who you are and what you do. Before you can create a cause marketing campaign, you need to understand who you...
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