Many nonprofits are seeing dwindling cash reserves, door closures, and donation drops due to the uncertain conditions caused by the COVID-19 pandemic. Nonprofit leaders are overwhelmed by the urgent short-term demand surges and a gnawing sense of uncertainty coupled with various day-to-day surprises and challenges they need to overcome to stay strong and relevant in a post-pandemic world.
Today, as the number of people getting vaccinated rises and we see recovery efforts from the devastations caused by the pandemic, nonprofit entities are recouping and refocusing on who they are and what’s important to make the organization better. Let’s take this opportunity to learn some key areas of focus that nonprofits can use to stay relevant and strong while meeting the ever-evolving needs of the communities they’ll continue serving as they move beyond the pandemic.
#1 Assess The Current Situation
Cash management is incredibly critical to fight through such uncertain times. Assess your average monthly operating costs and look for ways to diversify your donors. Focus on streamlining various individual donors and revenue streams so that you’re prepared to handle the situation if a major funding source backs out.
#2 Offer Crisis Services
A survey conducted by the CDC found that over 43% of people reported experiencing extreme anxiety, depression, and mental trauma caused by the stress of the COVID-19 pandemic. Even though we’re moving into recovery mode, the demand for crisis and supportive services isn’t likely to decrease any time soon. In the immediate wake of the crisis, nonprofits can help people recover from post-traumatic stress, major depressive disorders, or mental illnesses by offering social and economic support and helping people learn coping strategies needed to maximize their chances for recovery while lowering long-term risks.
#3 Strategize Fundraising Efforts
Such unprecedented times call for desperate measures. Nonprofits need to be more comfortable and bolder in asking new donors for support and donations to accomplish their mission. Virtual technology has propelled interest in hosting fundraising events online. These methods are cost-effective and allow for a wider reach in the local and global community, leading to an opportunity to strategize funds where they’re needed the most.
There was a time when no organization would’ve imagined using Zoom and other digital means to solicit major donations. However, since the time-efficient modes of communication have been discovered in a post-pandemic world, even after achieving some degree of normalcy, most nonprofits should think twice before stepping back into their old ways.
#3 Streamline Data Management
Nonprofits had to suddenly figure out ways to pivot in various key areas, ranging from outreach programs to fundraising efforts and managing volunteers, staff, and members while keeping constituents and governing boards informed. It has unveiled the need for switching to a more centralized system for data management to enable cross-department collaboration, transparency for donors, audience segmenting for enhancing marketing efforts, effective forecasting, and more.
Nonprofits need to stay relevant and stay strong while driving their mission forward, but they also need to ensure nothing impedes their growth. Nonprofit leaders need to invest in reliable insurance plans that offer full coverage to safeguard their employees, volunteers, property, funds, and more. Nonprofit insurance isn’t an easy topic to grasp, but an experienced nonprofit and church insurance agent can be your best source of knowledge for helping you understand various aspects of protecting your entity from various internal and external safety and risk management issues.
Schedule a consultation with Integrity Now Insurance Brokers to discuss your concerns with us. We can help you devise a strategy that suits the ever-evolving needs of your ever-growing nonprofit organization.
You can also call us or email us to learn more about various church insurance policies, including church property insurance, church liability insurance, workers’ compensation insurance, house of worship insurance, commercial auto insurance, and more services that we offer in several states, including Arizona, California, Colorado, Nevada, Ohio, Texas, and Washington.