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#038 - Today I am speaking with Jenni Hargrove. Jenni is a nonprofit guru who advises nonprofits on management, marketing, and development strategies. She has amazing free resources on her website including her podcast The Nonprofit Jenni Show. In this interview, she shares the risk many nonprofits face when they limit their fundraising efforts to only 1 big event per year.
“I always tell them that when they're thinking about stabilizing their revenue in the long term is that you need to think about your revenue streams sort of as a stool. So that's why we don't like to have just one or two revenue streams because that only gives you one or two legs to stand on. You really want at least three different types of revenue streams. And so that, doesn't mean having three fundraising events that would only count as one leg on the stool because it's only one type of revenue.”
She began her career working in corporate philanthropy for a really big international corporation. Her job included picking and choosing which nonprofits would get funded. She wanted to create resources for the so many nonprofits she had to turn down. AND Nonprofit Jenni was born.
“It is just much more fulfilling for me to be able to serve the 99% versus the 1%.”
Check out Jenni at - https://www.nonprofitjenni.com/
The key takeaways from my discussion with Jenni are:
#1 You need 3 legs to your fundraising/ revenue stream;
#2 Nonprofits can use social enterprises to fund their missions;
#3 Consult with an accountant and an attorney when setting up your nonprofit; AND
#4 Corporate Foundations can be a better place to look for money than the corporation itself.
Be sure to stick around until the end to hear all about the Nonprofit Jenni Book Club.
