Partnership strategies for financial stability in the non-profit sector

The non-profit sector is changing as non-profit organizations (NPOs) face reduced funding and increased accountability measures within an increasingly complicated fiscal environment. As the challenge to become more self-sustaining increases, the development of more entrepreneurial means of generating revenue is emerging to meet non-profit social objectives. This action-based research study utilized an on-line questionnaire and individual interviews to evaluate leadership and internal financial management capacity while assessing the current and desired levels of access to financial products, services and resources. The findings within this study determined that NPOs would benefit from financial institution leadership that provides dedicated financial management assistance and training, as well as products and services tailored to the unique needs of the non-profit sector. Prospera Credit Union will use the findings of the research as a component of their Corporate Social Responsibility mandate in an effort to support the increasing fiscal challenges of sustaining non-profit service delivery.