Finding sources of income for nonprofits and churches can be challenging. While the mission of a nonprofit organization is important, you can’t fulfill it without a plan to fund it. At WealthBuilders, one of our primary goals is to empower people to acquire wealth so they can use it to bless others. Nonprofit organizations are on the front lines of blessing people all over the world, and it’s important that they have the resources to do that.
Perhaps you’re a leader in ministry or the nonprofit sector who already has plans to make your community a better place. This blog is going to help you identify three sources of funding for nonprofits that can help you get the money you need to put your plans into action. Here are some great revenue streams for nonprofits:
- Tithes & Offerings
1. Tithes & Offerings
If you’ve spent any time in ministry, you’re probably familiar with two traditional methods of giving in church – tithes and offerings. While these are two different ways churches receive money, they’re often grouped together as options on offering envelopes, websites, and apps that aim to make it more convenient for people to give digitally. Tithes refer to the first 10% of your income that you give to God through the church. An offering is any additional money that you give beyond the 10% that you tithe from your income.
Leviticus 27:30 (NIV) gives us a clear standard for the tithe, which it refers to as, “A tenth of the produce of the land, whether grain or fruit, is the Lord’s, and is holy.” One of the earliest references to tithing is found in Genesis 14:18-20 (NIV):
“Then Melchizedek king of Salem brought out bread and wine. He was priest of God Most High, and he blessed Abram, saying, “Blessed be Abram by God Most High, Creator of heaven and earth. And praise be to God Most High, who delivered your enemies into your hand.” Then Abram gave him a tenth of everything.”
In this passage, Abram wins a major battle, rescues his nephew Lot, and receives a blessing from the priest Melchizedek. Abram’s response is to tithe. While tithes and offerings are not conditions that are attached to our blessings, they are evidence of a faithful walk with God. Encourage the people in your ministry to honor God with these two forms of giving, which will also give you more capacity to bless others in need.
Offerings can also become viable revenue streams for nonprofits. If you oversee a nonprofit and you don’t have a partnership program, now is the time to set one up! Create a communication strategy to reach like-minded people who may want to support your mission through monthly giving. If you’re a nonprofit leader, you can also develop partnerships with organizations that align with your vision and are willing to show their support with funding.
Over 70 years ago, a popular actor named Milton Berle hosted a live T.V. program that raised over $1 million for cancer research. In 1949, the world had never seen anything like it. This program was the first of its kind and made newspaper headlines as the first-ever telethon that lasted over 16 hours. Throughout the years, the ideas of telethons have evolved. We may not see everybody glued to the T.V. to watch their favorite entertainers raise money for hours anymore. But fundraising is just as effective now as it was then.
According to Donorbox, charitable giving has increased every year since 1977 with the exception of three years – 1987, 2008, and 2009. We don’t have to rely on telethons to reach a large number of people anymore. Nonprofits can utilize mass market fundraisers through mediums like email marketing, social media, and crowdfunding. That doesn’t mean that we can completely forego the personal touch that comes with fundraising through direct mail and live events. In 2022, there are so many creative ways fundraising can generate revenue streams for nonprofits. The key is for you to do your research and find the best way to reach people who are likely to align with the mission of your nonprofit.
Ecclesiastes 11:2 (NLT) says, “But divide your investments among many places, for you do not know what risks might lie ahead.” Tithes, offerings, and fundraising can help with funding, but it’s also important to diversify revenue streams for nonprofits. Some great sources of income for churches and nonprofits come from products.
Products give people even more reasons to support what you’re doing. Many ministries and organizations have found success in creating merchandise. Perhaps you have a great phrase that you can put on some products that people will want to wear or carry to represent the mission of your nonprofit. There is no end to the number of products you can create.
Many nonprofits are content hubs. Leverage your expertise and add value to others by creating courses, coaching, and online learning subscriptions. After you build an audience, podcasts, YouTube videos, and even social media can be potential channels to acquire advertising revenue.As an author, I also recommend publishing books or e-books as lead generators. Publisher’s Weekly revealed that Religion publishing became a $1.2 billion industry in 2020. If you have some wisdom or insight to share with the world, this could prove to be a great source of funding for your nonprofit or church.
If you want to learn about more sources of funding for nonprofits, sign up for The 2023 WealthBuilders Conference. This blog only scratches the surface. Our speakers have experience using multiple forms of investing to fund their nonprofits as well (yes, nonprofits can generate passive income!) The theme of this year’s WealthBuilders Conference is “Maximize The Moment,” and we’ll take the opportunity to dive even deeper into the topic of sources of income for churches. Click here to register for this conference that will help you become financially secure in your ministry so that you can focus more on the mission God has given you.