10 Ways Your Nonprofit Can Save Money
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10 Ways Your Nonprofit Can Save Money

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YouHelp.com wants to assist nonprofits in meeting their goals and creating positive change in their communities. However, this is possible only if your nonprofit has the budget it needs to continue its important work. Today, YouHelp will be sharing 10 ways your nonprofit can save money.

In a world where the economy is ever-changing and financial security is hard to maintain, it might seem like a risk to stay in the nonprofit sector. However, do not despair! If your nonprofit is facing financial challenges and is having trouble staying afloat, there are many ways to help.

Here are a few:

1. Free Online Resources

The greatest way to save money as a nonprofit is to take advantage of the internet and all it has to offer. The digital age makes it incredibly easy to market your nonprofit at no cost. By taking advantage of social media sites, such as Facebook, LinkedIn, Twitter, or Instagram, your nonprofit can advertise its work to potential donors all over the world for FREE. It is also relatively inexpensive to buy a website domain for your nonprofit to share its message with donors.

In addition, many other free resources are available on the web, which can be extremely helpful for your nonprofit. These resources include video editing, mailing software, organizational tools, and much more. Check out this recent article from GrantNews for 13 free online resources currently available for nonprofits and businesses.

Make sure to use all the available free or low-cost programs to cut costs in your budget.

2. Use Tax Breaks When You Can

Being a nonprofit means you are eligible for certain tax breaks. It is important to identify these so you can take advantage of them and save your organization money.

In some states, nonprofits can get a refund on sales tax. Determine if your state offers this benefit, save all receipts, and apply for refunds if you are eligible. In addition, nonprofits can opt out of the state unemployment tax system. This can save a 501(c) nonprofit organization a considerable amount of money.

Do your research and make sure you’re not paying for anything that you don’t have to. You might even consider splurging on a tax advisor or financial professional to help you see what tax breaks you can get. The money you spend doing this will be worth it in the long run.

3. Working Remotely

While being in an office can give your employees a common space to work together and communicate, it is not a necessity. In this digital age, working remotely and utilizing services such as Zoom and Skype can be a beneficial cost-saving measure. By transitioning to a remote work environment, your company can save on rent, utilities, and office supplies.

Remember, even if you transition to working remotely, some employees might still need supplies if they do not already have them. You want to ensure they have all the tools necessary to work from home. This might mean giving them some of the supplies from your former office or buying new supplies for them. You will still save money in the long run by not paying for office space.

4. Look for Donations or Buy Used Supplies

This tip for saving money goes hand in hand with the previous suggestion. Whether or not you decide to stay in an office, you can cut down on costs by reaching out to organizations or companies for donations or by shopping second-hand. Especially when it comes to technology, buying used equipment can be just as efficient and can save your nonprofit a lot of money.

5. Enlist Volunteers

Another way to cut down on costs is to enlist more volunteers. Unlike official staff members, volunteers do not have to be paid. Most volunteers want to join an organization that is making a real difference, and the experience is payment enough. Recruiting more volunteers to help, can lighten the financial load if you can’t afford to hire more staff members.

Keep in mind, that although volunteers do not take a salary, you should still show your appreciation for their work. Try thinking of some way to thank your unpaid volunteers, such as by sending them thank you notes or giving them a gift card.

6. Reduce Travel Costs

Some nonprofits look for potential donors or connections in other locations. However, traveling takes a lot of time, energy, and money. Not only do you have to pay for transportation, you also have to consider accommodations and food. Most of the time, traveling is not even necessary now that there are conferencing programs like Skype or Zoom. You can also reach out to potential donors or vendors through email or a phone call.

The same goes for national nonprofits that want to have meetings with all of their staff. There is no need to travel to a central location to meet with staff members. If you are looking to save money, just set up a virtual meeting.

7. Ask for a Nonprofit Discount

Sometimes the easiest way to save money is just by asking!

Don’t be afraid to ask for a discount as a nonprofit. Many businesses offer a discount for charitable organizations or would consider it if asked. Whether you are looking for a discount on technology, printing costs, event space, or anything else, make sure you explain the impact you are having on the community. There’s a good chance that you’ll receive a discount.

8. Perform a Regular Audit

It is important to conduct regular audits of your nonprofit’s finances. This will indicate where your organization is spending the most money and where it might be able to cut costs. Some members of staff may regard certain expenses as more necessary than others. This is why you should always have other team members sign off on budgets and expenses. 

9. Apply for Grants!

Applying for grants is a great way to save money. Maybe you have an upcoming project or program that needs funding and you are short this month. Try searching for a grant to cover the costs. Historically, most funding is geared toward nonprofits, municipalities, government agencies, townships, schools, and IHES (institutes of higher education).

GrantWatch.com is the leading grant search engine and database. With low fees and great customer care representatives, GrantWatch offers nonprofits a way to find funding at a low cost.

If your business or organization does not have a grant award history, you may want to start with winning grants of a smaller amount before applying for grants of a larger amount.

10. Sign Up for YouHelp.com

Saving money is easy for nonprofits looking to start a crowdfunding campaign. YouHelp.com offers a free platform for all 501(c)(3) nonprofits in the U.S. to fundraise for their worthy cause.

YouHelp’s donation processing rate is only 2.2% +30 cents per transaction and it uses processors that provide immediate access to your funds. The site allows your nonprofit to have a platform to share its message with people all over the world.

Your nonprofit’s future will be directly affected by the care you give when putting your budget together. With these tips, you can save money and allow your nonprofit to put its funds toward more important causes.