Is a Recession Coming? 5 Things Your Nonprofit Can Do to Prepare

Is a recession coming? After the last couple of years we’ve endured, it is both possible and scary to consider. Many people are wondering when, if ever, this may happen, especially with the impact of inflation and higher prices.

By preparing your nonprofit now, you may able to help limit the effect a recession might have. Keep in mind, during a recession, there will be fewer donations available for nonprofit organizations. This is why now is the best time to become a competitive grantseeker.

Here Are 5 Ways to Prepare for a Recession:  

1. Create a Grants Team

If your organization doesn’t already have one, consider creating a grants team. Decide who will lead and approve all projects. You do not want to waste staff hours with the usual run-around and end up missing grant deadlines.

2. Schedule Targeted Grant Deadlines to Your Calendar

You want to schedule all grant deadlines of possible interest on your GrantWatch Calendar. This can help you to be better prepared, and organize various grant application deadlines in a timely manner.

3. Write Your First Grant Proposal Yourself

You can save hundreds of dollars by writing your first grant proposal yourself. In spite of your lack of grant writing experience, channeling your passion writing can still be successful. However, if you are unsuccessful, you may want to consider hiring a professional grant writer for your next grant application.

4. Seek Alternative Solutions

If you’re unsuccessful in winning a grant, it may be necessary to consider alternative strategies. Can you brainstorm some approaches to problem-solving that would not require a grant to implemen? For example, an education district could utilize existing entrepreneurial academic curricula to incentivize out-of-school youth to return to school.

5. Set Up a Fundraiser

While waiting to hear back from grant funding sources, consider the creation of an online crowdfunding campaign. In addition, this may be a good alternative source of funding from your local community. Crowdfunding campaigns are easy to set up and allow you to utilize social media to get donations. Moreover, this is a highly cost-efficient way to secure funding.

5 Grants that Could Help Recession-Proof Your Nonprofit

1. In-kind grants of volunteer support are for projects that serve low-income communities while addressing problems related to poverty.
2. An opportunity is available for one underfunded USA nonprofit organization to receive a marketing makeover.
3. In-kind grants valued at up to $10,000 are also offered to nonprofits for marketing and website design services.
4. Grants of up to $50,000 are available for capital projects to revitalize public community spaces in rural areas.
5. Finally, grants of up to $25,000 are available to nonprofits to positively impact local communities.

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