While foundation grants are often considered available to any nonprofit, they can be challenging to earn. We’ll cover grants next, but a more achievable financial goal may include local businesses as corporate sponsors. Not only do corporations receive the tax-deductible benefits of donating, but you can also recognize corporate sponsors on your website and other marketing materials. This relationship brings much-needed funds to nonprofit organizations and advertising for the sponsoring organization.

Companies will also often consider in-kind donations, such as equipment, services, or items the organization would otherwise need to purchase. These gifts are a great way to reduce operating expenses for nonprofit organizations. For example, a nonprofit organization providing tutoring to children may ask a local electronics store for computers removing the need to raise funds and purchase the devices.