Working on a restricted budget isn’t easy. But you can take some simple cost-cutting measures to free up some more dollars for your mission. Here are UST’s top 8:
1. Get discounts by joining a nonprofit association. You can find one here. Most associations offer their members special benefits and discounts on everything from office supplies to insurance. In fact, UST is partnered with 80 national and state nonprofit associations whose members receive a waived enrollment fee when they join UST.
2. Get group discounts and share resources. If you can combine orders with other nonprofits or companies you work with or who share your building, you’ll receive better bulk pricing on all kinds of products. You can also share the costs of maintenance with others in the same building. You may even consider piggybacking on local businesses by asking if you can include your fundraising materials in their mailings. They may welcome the good will it generates for their company.
3. Is your organization a 501(c)(3)? Are there 10 or more full-time employees? If you answered yes to both, be sure to check out UST’s alternative to paying into the state unemployment tax system. It can save thousands annually because you no longer share in the state’s pooled tax system that is often driven by for-profit companies’ unemployment claims. Watch the one-minute informational video.
4. Save on printing. Today most people are used to receiving electronic communications in lieu of bulky printed pieces in the mail. Direct mail may still be an important part of your fundraising, but perhaps you can move to an e-newsletter to cut down on printing or provide electronic versions of your board book for board meetings. You can also use lower-weight paper to reduce printing and postage costs.
5. Try teleconferencing more often. Sometimes a video or phone conference is all you need to nail down specifics of a discussion, and it will save you big time on travel costs. (It works for job candidates and board members too!)
6. Save on employee training. Use videos, online training and/or another employee to provide training to new and existing employees. Self-paced training is typically best received by employees. And if you’re already a member of UST, you receive hundreds of online training courses for free through ThinkHR, which saves you about $6,000 annually.
7. Use public relations and social media to get free publicity. Talk to local media about covering an upcoming event, or provide guest columns or blogs to be published. And yes, you must be in the Twitter-verse nowadays for free PR. Don’t have an expert on staff? Recent college grads are a good place to look for social media expertise. Just make sure for interns or new hires that you create a social media policy so they don’t accidentally tarnish your reputation.
8. Use your board. Your board members should be part of your fundraising strategy. They should be able to help find sponsors for your events, and they shouldn’t be afraid to make the “ask” during fundraising season. In addition, they should be helping you find service providers and individuals who can provide the goods and services you need.
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