![]() ![]() ![]() This also applies to the acquisition of staff. They need to see your organization's vision for the future and path to success if they are going to contribute to your cause. Without a solid map, stakeholders are going to be hard-pressed to hand over their capital. It is not only necessary to complete these crucial processes but also to have a real shot at acquiring major donors and achieving success with fundraising programs. This further emphasizes that the business plan is truly a mandatory requirement for success. The same is true when trying to acquire loans, you must be able to convince lenders if you expect anyone to take a risk on your behalf. In addition, when seeking incorporation and filing with the IRS for tax-exemption purposes, they need to see that you are a legitimate organization and that you have a workable plan to ensure that you can achieve realistic goals. Many nonprofits consult their business plan frequently to ensure that their actions are in line with their overall strategy. ![]() Having a well-thought-out plan is necessary for a new nonprofit because it provides direction for your organization. Without one, you can get lost on your journey! Why Do You Need a Nonprofit Business Plan?Įven though a nonprofit is not a business, a business plan is your roadmap to success.
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