Top Way Nonprofits Can Save Money

Starting a nonprofit is not for the faint of heart. You know that the way you make money will always be different; you know fundraising is going to be a normal part of life, and to top it all off, you know that your results are driven by the impact of your work.

Nonetheless, you know it's going to be different.

After spending some time in a nonprofit since I was 19 years old, here are some major takeaways I've learned when it comes to money and nonprofits.

Let's Talk About Money

In all professional organizations, money is a tool that keeps things moving forward. However, in a for-profit business, cash is king; businesses are designed to make money so if they don't, we have a problem.

However, in a nonprofit, a successful organization isn't evaluated on money as much as impact.

In a nonprofit, our grid for success is charted by how much change or impact our efforts cause. Money then becomes much more of a tool to continue the scale of our impact.

So, even more so in a nonprofit, we have an obligation to manage our money in the best way we can because every dollar is responsible for the change. However, there are some expenses that can be avoided forever.

Stretching Our Dollar to Stretch Impact

So for those expenses that we cannot avoid we should be looking for the opportunities that have the most impact and lowest dollar spend so our nonprofit can save money.

At SpaceTogether we have one mission: help people.

With our company, we connect organizations with underutilized space to companies who are looking for flexible space solutions.

We're always looking for opportunities to help other businesses stretch their impact. To be honest, me and the other co-founder have worked in the nonprofit field for most of our professional lives. So, it goes without saying that people share our desire to affect change by helping people, and we just so happen to do that with commercial space solutions.

Make Smart Decisions With Your Space

The long-term commercial commitments you make with your nonprofit are a major make-or-break moment.

Think about it, when you get into long-term commercial real estate contracts, you're committing to:

1. Multiple years of commitment
2. Variable costs based on your contract
3. Having to furnish an entire space

With my nonprofit, we took on a long-term lease. The moment I signed the contract, I knew we would increase our impact. And then it hit me: we were not using the space but more than 13% of the usable time.

What?! So much time was going to waste.

We were using the space for our business, but we saw an opportunity to create a platform that connected people with underused equipped spaces to individual looking for short-term flexible spaces--and that's when SpaceTogether was born.

Think About Short-Term Leases

Not only do short-term contracts decrease your risk and your overhead (bonus: you typically don't have to buy equipment for your office), you have the opportunity to increase your impact for every dollar spent.

With a tool like SpaceTogether, you can find short-term spaces that meet your needs. Whether it's a time duration from weeks to months, or an office all of the way to a commissary kitchen, it's your way to flex your space and your dollar.

Find Your Space

We're here to support your nonprofit's impact in the community. Know that long term commercial space is not your only option, and you can grow your organization with space sharing. From finding good, reliable shared spaces to handling logistics along the way, SpaceTogether is here to help you. If you have any questions, you can message our team using the link in the bottom right-hand corner for support.

Click here to find your space!