“What would we do with a $500,000 windfall in
revenue?” This was a question that a
fellow Board member asked the rest of us at a recent meeting. “What a great question,” I thought. “I am so glad we have Puja on this
Board.” But, our inability to answer her
question with ideas that were well thought out makes me think we should revisit
this question at a future meeting.
What would you do with a one-time big
windfall? Maybe $500,000 is too small
for your nonprofit to even be concerned about if you are big. The organization referenced above has a $2
million annual budget. If you have a $10
million budget then imagine a $2.5 million windfall.
I know. It
would depend on the circumstances. But
just imagine it is a no strings, one time, anonymous windfall.
I suggest this as a great strategic thinking
exercise for one of your upcoming Board or staff meetings. What would we do and why? How would it feed our strategy? How will it help us build capacity and make
even more of a Mission Impact?
Maybe it should go directly to your reserves if
you have identified that as a weakness that needs to be fortified.
It probably should not go to a new program you
made up on the fly and which would go unfunded after the windfall evaporates.
But maybe it does go for an innovation or
demonstration project you have been musing about for years and which, if proven
successful, you think you can build sustainable resources for and scale.
Regardless, it is best to take a strategic,
“investment” mindset about your new windfall.
Play the Windfall Game at your next staff or Board meeting and see what
creative juices you can get going to make even more of a Mission Impact.
For more
ideas on how you can lead breakthroughs in your organization, follow this blog
and check out my web site at www.SheehanNonprofitConsulting.com You will find free resources you can
download, including a Breakthrough Strategy Workbook that you can download at
no cost. You can also check out my book,
Mission Impact: Breakthrough Strategies
for Nonprofits, and buy it if you are interested. And you can follow Sheehan Nonprofit
Consulting on Facebook.
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