Applying business lessons. Nonprofits implement private sector strategies to support themselves

In the year since launching the Cottonwood Institute, Ford Church has learned the importance of establishing a reliable revenue stream along with focusing on the nonprofit’s mission.

"Running a for-profit and a nonprofit really aren’t very different," said Church, founder and executive director of the Boulder-based organization, which aims to develop community service in youth while teaching them wilderness survival skills. "You still have to make more money than you spend, but with a nonprofit you have more diverse revenue streams."

By using some unconventional revenue sources, such as online affiliate marketing, Church said he hopes to avoid the cyclical downturns that can cause nonprofits dependent on donations or grant money to face hard choices, such as cutting programs or staff.

Like the Cottonwood Institute, the use of entrepreneurial strategies, local groups say, has become a method for survival, particularly as giving patterns change.

By Kathleen Jones, For the Camera

Full Story: http://www.dailycamera.com/bdc/local_business/article/0,1713,BDC_2461_4373829,00.html