of the term “earned income” and the parameters of the IRS
criteria. Earned income is allowed as long as the products
and services are related to the purpose.
Nonprofits can and should look at their assets as a
source of revenue. They must evolve out of ‘Charity Think’
and the poverty mindset that holds them back. As our
name implies – Philantrepreneur – a nonprofit must THINK
and ACT like a business and entrepreneur.
Here are two basic questions. Have you made an
inventory of the products and services, your assets, you
already offer? Could they be developed or packaged as
a new revenue stream? I know I may be over simplifying
the process but my intention is to start the conversation.
Launching a thorough SE plan requires a systematic
process, just as any business would do. It takes time but
the outcomes are invaluable and could be the difference
between survival, or death, versus thriving and long term
success and sustainability.
One question also presented to me, “What if we get to
successful?” Since when did success become a problem?
Yes, there are limits on the ratio of earnings to the overall
income budget, very few reach that threshold, however it
is an easily solved problem (if you must call it that) – form a
for profit company that then supports the nonprofit.
Here are a couple examples of nonprofits that use
a SE model. I sure you can think of several in your own
community that are doing the same.
•
D
reams for Change operates a mobile food truck
that sells hot, nutritious meals in general to the
community but also to the homeless and accepts
food stamps.
•
J
ewish Family Service of San Diego owns for-profit
company CARS, Inc.
One great resource will be our fall conference IMPACT
Learning 2015, a three day event designed to thoroughly
detail the strategies and process. It is the first step on a
road to understand and implement a valuable strategy. For
more information visit: www.PFIMPACTLearning.info
If you have questions or commentary, please feel free
to reach out.
Enthusiastically yours,
Dr. Victoria Boyd, Executive Editor
The Philantrepreneur Journal
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