'Nonprofit' Is A Tax Classification, Not A Business Strategy
By Michele Campbell, Marketing: Causes
I’ve worked for several nonprofit organizations over the years—from higher education to educational travel to the performing arts—and I always thought that nonprofits could learn a lot from the corporate world. In my experience, nonprofit organizations are generally reluctant to openly discuss profit, unless it’s in regards to fundraising initiatives. Nonprofit organizations need to make money just like everyone else. How else can they accomplish their missions, after all?
It was refreshing, then, to hear a nonprofit leader discuss this topic recently.
I attended an Event Fundraising Roundtable in Boston, where Suzanne Fountain, associate VP of the Jimmy Fund, served as a panelist. She started the conversation by comparing nonprofits and businesses: “You may be a nonprofit organization, but you still need to use your best business sense….” She then went on to discuss segmentation as a required means of getting a better return on investment, as well as other familiar topics we often hear from corporate marketers—only this time, they were aimed at nonprofits.