If the unpleasant reality of losing a primary funding source occurs, the organization should activate this recovery team to significantly increase the level of effort going toward fundraising and revenue development. Members of the team should be prepared to spend seven to ten hours per month strategizing and fundraising in addition to their usual responsibilities.
The team should begin by assembling a list of potential revenue sources. The list should be made as diverse as possible, and it should combine larger sources that may take a longer amount of time to pay off with smaller sources that can be realized more immediately. A few ideas for potential sources are:
- Hold a membership drive.
- Charge for subscriptions to a newsletter.
- Run a gifts campaign.
- Charge fees for services, using a sliding scale.
- Sell products such as T-shirts and stationery.
- Speak at professional organizations and service clubs.
- Apply for grants from local corporations, service clubs, churches, or unions.
- Apply for a line of credit from the bank.
- Hold special events such as concerts or parties.
- Sell booklets or manuals with useful information.
- Approach corporations for sponsorship.