Sustainable funding is vital to ensure the ongoing viability of an organisation. Being sustainable requires effective planning and robust financial management, as well as avoiding dependence on too few funding sources. The danger is that, as funders’ priorities change voluntary and community organisations can face closure if they don’t have access to alternative sources of income.
A whole host of ways to generate new income streams are available, but all carry risks, and must be carefully assessed for viability and whether they match the organisation’s objectives. Badly planned or inappropriate activities risk aggravating existing funders and supporters, disrupting services, and alienating staff and volunteers.
This overview sets out the need for a sustainable funding strategy and provides some pointers on how to develop one.
