Not-for-Profit Organizations also known as Non-Governmental Organizations (NGOs) pursue public interests or public good, rather than commercial. However, without adequate funding, NGOs would be unable to meet their objectives, make an impact or realize their vision. PIND has been addressing the problem of funding among Niger Delta NGOs by building their capacity. Here are a few tips on how to keep your NGO financed:
1. Identify the right partners: A variety of funding opportunities are available, your NGO need not respond to all, especially those that are not in your areas of focus. It is important to carefully identify your partners through; desk research, referrals, recommendations and networking. Partners could
include; impact investors, donor agencies, philanthropic individuals, government, private companies and target beneficiaries. After partners have been identified, a database of donor funding cycles, as well as stakeholder’s engagement tracker should be developed and retained in your tool kit.
2. Develop mutually beneficial relationships with potential partners: You need to be able to influence the economic decision maker, one who has the capacity to release funds. But before then, you will most probably have to build a strong relationship with a champion of your cause who can be a staff or
affiliate. In introducing your NGO to the decision maker(s), you make sure your organization’s achievements are clearly mentioned, areas of synergy with theirs and what their partnership benefits would be. This could reinforce further engagements for funding opportunities. An organization will likely
partner with an NGO that would add to its economic and reputational goals.
3. Clarify and increase your brand awareness: NGOs need to have a clear idea of who they are and what they represent. Branding defines social goals and strengthens identity, which is crucial in creating partnerships and for attracting funding. The clearer you are in your positioning, the greater the trust
partners will have in your organization.
4. Influence local companies: If your NGO is at a developing phase, it is a good idea to start developing a solid reputation within your community, which will in turn position you for the international players.
5. Build internal capacity for proposal writing: It is important that NGOs build the skills of its staff to write quality and compelling proposals. Workshops, Online trainings and Virtual Mentoring are identified learning sources. A typical proposal is expected basic information around; project objectives and goals, statement of need, target activities and beneficiaries, expected output and outcomes, budget and sustainability plan. However, in some cases NGOs may be constrained to use donor’s proposal template.
6. Develop suitable financial policy: Developing a financial policy is very crucial for any non-profit regardless of the size, without this, staff and management would only take decisions based on assumptions. A good financial policy should clearly highlight statements around; conflict of interests on insider transactions, authority for expense approvals, timing for regular financial actions (e.g. audits) etc.
Adetoun Oluwole,
Business Development Coordinator at PIND Foundation.
