“How do we raise more?” is the number one question non-profits ask. And, according to the Giving USA Annual Report, Americans alone donated $557.16 billion to charity in 2023, meaning the opportunity is what you make of it, especially if you get creative.

The classic streams – individual donations, grants, matching gifts, and in-kind donations – all of these are time-tested, proven revenue streams and have a place in your strategy. Yet, one common fault is when organizations rely only on one of those sources. Funding, and rightfully so, is one of the main challenges non-profits must overcome, so why put all your eggs in one basket?

Sometimes all it takes is a creative brainstorming session to think differently.

Thinking Beyond One Income Source

Your current strategy is either meeting your goals or it’s not. If it currently is, then what is your approach if something impedes your plan? The catalyst can be unexpected circumstances, a disappointing campaign, or the organization’s needs and goals change. Is your plan nimble and sustainable enough? If your strategy is not meeting your goals, how can you maximize your efforts with different tactics?

Of course, not every source will make sense for your organization, but a comprehensive fundraising plan can incorporate a mix of these six sources.

1. Annual giving is a year-long initiative that covers all your general fundraising activities for the year. With its long timeframe, your organization will generate awareness for your cause, strengthen relationships with donors, and have opportunities to test different strategies to find the most effective and efficient.
2. Major gifts as the name suggests, are major boosts to your fundraising with these gifts coming from your major donors. This initiative provides the opportunity to develop deep relationships with these individuals to know them personally, understand their wishes, and continue stewarding them for years.
3. A planned giving program is an excellent way to help diversify and simplify how donors can support your mission. These gifts are charitable contributions from their financial or estate plan and are often beneficial to both parties. After an initial kickoff, you’ll be able to tap into these assets (such as outreach templates and presentations) for years to come.

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4. Grants are a great source of revenue when you find one that aligns with your organization. The caveat to this source is that they aren’t guaranteed forever. As impactful as they can be, they should not be the only source of income for organizations.
5. Events are an exciting tactic that is fun to plan and fun for the donors. It’s a way to celebrate your donors and engage new ones in exciting ways that highlight your cause and mission. Whether it’s a radiothon style or a formal gala, you can be creative and host an event that embodies the mission and goal.

Learn how to unlock the power of planned giving events.

6. An Endowment is the final step to completing a fundraising strategy. As a way to grow your donations through investments, your organization can work smarter, not harder, as the goal of an endowment is to maintain the principal amount while using income generated to support the organization.

Learn how to start or grow your endowment, or download our Growing Your Endowment Toolkit to get started.

Incorporating a mix of these streams into your plan allows for leeway in your fundraising strategy. Plans can change at any time so, by having multiple sources, they can help balance out or help recover losses if the income stream was lost.

And, who says you have to stick to those six fundraising income streams? Innovative non-profits have found ways to incorporate a for-profit arm of their organization that generates revenue. One success story is an organization that serves those with intellectual and developmental disabilities started a for-profit bakery where recipients of the service work and receive vocational training – all with the added benefit of being a reliable income source.

Challenge your team to think differently because at the end of the day, diversifying and having multiple income streams provides peace of mind your fundraising can withstand any changes as we never know exactly what the future holds.

This content was inspired by our recent non-profit event, The Positive Pivot: Identifying the Changes Your Organization Needs to Propel Your Mission, with guest speakers Marc Misiurewicz, President & Founder of Empreinte Consulting, LLC., and Jeff Paterson, Executive Director of sasi.

Please consult with an attorney or a tax or financial advisor regarding your specific legal, tax, estate planning, or financial situation. The information in this article is not intended as legal or tax advice.