I’ve seen several stories lately (one on the front page of my local newspaper) about nonprofits that are facing closure because of the loss of a big grant.
These nonprofits are in this situation because they got a big grant and then stopped fundraising. They got comfortable and maybe even lazy. They became dependent on this one large revenue source and never thought about what they’d do if it ever went away. Now it has and they’re in crisis mode.
Don’t let this happen to you! Don’t become dependent on one large grant or one special event or one whatever.
If you have one revenue stream that makes up more than about 20% of your revenue budget, you better get started working on some other revenue streams so you can avoid this desperate situation.
You don’t want to end up in the news because you’re closing your doors.