In 2021, the second wave of the pandemic will affect every organization differently. Whether because of location, size, programs, or mission. Some organizations are large and well-established, while others may be smaller, newer, or not as well funded. Many will manage to change budgets, retain and support staff. Some will discover new methods of program delivery. Demand for services and funds, maybe disappearing for some, while others may find the need in their communities growing exponentially. For nonprofits, the onset of the Covid-19 pandemic has exacerbated many existing challenges, including identifying sources of funds, using technology to improve operations, and effectively advocating for their missions.

Nonprofit organizations rely on earned income, government funding, charitable donations, and investment income to support numerous programs and services for the public good. During this crisis, some nonprofits will become even more critical to provide for those in need, but the funding streams to support activities may be even more stressed. Nonprofits will need to diversify sources of generating revenues. Grants, corporate sponsors, fundraisers, in-kind donations, individual donors, and program income can potentially fuel diverse revenue streams. Charitable contributions from large foundations, corporations, and individual givers will also increase, with some added flexibility. But this may not be a viable source for many smaller or community-based organizations. Tracking funds and managing budgets will come in handy for any nonprofit that wants to achieve financial goals.

The new future of work for social impact organizations is to operate remotely. A survey carried out and recorded by Forbes shows, majority of nonprofits (69%) indicated that they might accommodate working from home for all staff; a similar majority (69%) said they are now contemplating remote work even after the coronavirus crisis passes.

The study also distinguished direct service and non-direct service nonprofits. 60% of direct service and 88% of non-direct service organizations can accommodate remote work for all staff, while 67% of direct service organizations and 71% of non-direct service. Organizations are considering remote work as a long-term option.

The need to adopt new strategies and make a necessary decision towards achieving maximum impact at this crucial time is needful. A nonprofit that is ready in 2021 will diversify the sources of funds and use technology to evolve and adapt to the present global challenges.

Read the full article about nonprofits in 2021 by Olanike Adenuga at Medium.