Make Your Own Money for
Ministry!!
Fund Your Church or Ministry
Through Earned Income
Venturing
Is Your Ministry Ready to Make
Its Own Money?
Lately,
philanthropy has been touting “earned-income ventures” as a new
way for nonprofits to create sustainable income. Ventures
include products or services sold by nonprofits, or small
businesses created by nonprofits, that generate money for
mission. Given there are now more than 1.4 million nonprofit
organizations, and that grant-making foundations favor funding
those that have other sources of income, growing numbers of
program leaders are venturing.
A recent survey
of faith-based social services organizations in 12 cities
revealed that 37% operate ventures. The venturing organizations
have far larger budgets than those not venturing. In fact, 45%
of them reported having annual budgets of over $2 million.
Venturing is not
easy for any organization. The challenges are exceptionally
greater for church and para-church ministries, since most barely
have time, expertise and capacity sufficient to operate just
their nonprofit programs.
It stands to
reason that the most successful ventures are launched by
organizations that are larger and more operationally sound from
the start. Smaller ones that enjoy a measure of success
typically sell products or services related to their mission.
It is
particularly important to keep in mind that small business-type
ventures launched by a secular or faith-based nonprofit require
the same energy, encounter the same challenges, and run the same
risks as those started by a profit-minded entrepreneur. The fact
that most nonprofits, and certainly those faith-based, tend to
lack even an inclination to profit makes it all the more
difficult for them to succeed at launching a venture based on
making one.
Failing at
venturing is painful, costly, and more likely than succeeding.
However, success can mean for your ministry not only an ongoing
stream of reliable income and greater eligibility for grants
funding, but also possible long-term job opportunities for
community residents and a far greater sense of accomplishment
for all who serve and support its mission.
Determining
whether your ministry is ready to venture requires assessing
organizational strengths, along with market feasibility.
Additionally, ministries must determine the extent to which
pursuit of profit might conflict with their Christian beliefs
and mission.
For insightful
training and expertise on earned-income venturing specifically
for ministry, visit www.FundingMyMinstry.com.
