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Today, I'm going to discuss 5 different ways that your nonprofit can make some extra money!

1) General Services:
According to MissionBox, a fee-for-service approach for nonprofits is defined as “nonprofit uses its earnings to support its mission and prioritizes benefit to the community over profits. Your organization can grow financial sustainability with a fee-for-service model.”

2) Memberships
I see a lot of 501(c)6 nonprofits utilizing the basic membership service approach. For example, a Chamber of Commerce, Lions Club, etc. may charge individuals, nonprofits, and corporations a fee to enjoy the membership of the organization.

3) Tuition Fees
This is commonly associated with universities, but you could also think of this if your nonprofit is (or can!) offer any knowledge sessions.

Nonprofit colleges and schools do charge tuition fees! Just because it is a nonprofit college doesn’t mean it is dirt cheap tuition fees, either!

4) Speaking Engagements / Appearances
Your executive director, people who serve on your board of directors, or even some of your volunteers probably have amazing stories!

Of course, all won’t necessarily be offered a financial contribution to be speakers, but some might be. Building up to speak at national or international conferences can include a nice side income. But even speaking at local trade associations or chambers can produce some money.

5) Renting out Space
Does your nonprofit have a building or physical space? Are you utilizing the space at all times? Well even if you’re not, your are paying for rent 24/7!
If you aren’t utilizing the space at all times, you may consider renting out some of that unused space! You could rent out to other nonprofits or individuals to run workshops, AA groups, training, or even baby showers!

Maybe your office is closed on the weekends, but a smaller house church would love to rent out your conference room on Sundays? Or maybe you have a beautiful garden area outside (or real quick want to create one!) and you can rent it out for weddings or photoshoots?

Don’t forget to grab the FREE downloadable from last week’s episode!

Next week, we will discuss developing goods/product ideas for nonprofits to sell that can help bring in even more funding!

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