How to unleash the potential of your not-for-profit
Australian not-for-profits take on the toughest social and environmental challenges we face as a nation. You are increasingly providing essential services to our communities on behalf of government, and perform important activities to create a more inclusive, equal and sustainable world. Not-for-profits are an integral part of Australian society and currently employ 10% of the Australian workforce, or more than 1 million people.
Right now, not-for profits all over Australia are recovering from the EOFY scramble. You may be trying to comprehend how you’ll possibly sustain your organisation’s growth over the next financial year. Or, perhaps you’re breathing a sigh of relief that you have maybe six months until you have to start those grant applications and an endless stream of meetings with potential donors… again.
While government funding had been gradually increasing over an extended time period (1994-2014: JBWere), in the last few years funding cuts have been taking place and look as though they will continue as the government gears itself towards achieving a positive budget.
This pressure can be overwhelming for some not for profits, especially those which heavily rely on grants to fund their ongoing operations. However, for those willing to innovate and adapt to pursue the opportunities opening up to them, there is a wealth of opportunity.
The recent Giveasy report Innovation Index for the Australian Not-For-Profit sector found that there was a clear positive correlation between organisations with a rising budget and those with high levels of innovation. The study states that:
Innovative organisations are 34 per cent more likely to have a rising budget than those that are not – so innovation drives growth, rather than growth or funding drives innovation.
Innovation leads to more funding
If your not-for-profit is going to continue to expand your reach and create greater impact, you need to innovate now more than ever before. Consider whether innovation could lead to the establishment of sustainable revenue streams for your not-for-profit. Weigh the benefits of having the freedom to focus on your mission rather than the next funding round.
At One10, we specialise in innovation, strategy, and the future-proofing of not-for-profits. We enable creativity, build capacities, and transform futures by facilitating safe spaces to collectively explore new ideas. We can work with you to ensure that all people within your organisation are able to live your mission, every day. If you want to soundboard your thoughts, concerns and ideas, please get in touch.