There are “not-for-profit” organizations everywhere these days, it seems. But how do these programs fund themselves and continue to successfully function day after day? There’s a set platform for where money comes from that non-profits rely on to pay for fundraisers and endeavors. Here are some of the main sources and some examples for each:
- Private donors and individuals supply the largest amount of charitable donations. Some of the most recent top contributors to charities are Warren E. Buffet, Paul G. Allen, and Fred W. Fields.
- Corporations often partner with non-profits and provide funding for new programs and special events through scholarships and prizes. Prizes from corporations can be quite substantial, as in the case of the $250,000 Henry R Kravis Leadership Prize, awarded by Henry Kravis and his wife, Marie-Josée.
- Government grants pay for many programs run by non-profits, particularly in the areas of human services and healthcare. An up-to-date list of federal grants can be found at Grants.gov.
- Foundations, including corporate, family, and community foundations, provide a variety of grants to non-profits. Some of the most well-known foundations are family foundations like the Gates Foundation.
It can be tough at times to maintain a stead income at a non-profit, which is why it’s a good thing that there are so many options for funding. Some donors will be around year after year, and others might only be available for a short period of time. But, luckily, each year there are new opportunities to find as well.