This chapter describes a financial sustainability plan and explains the importance of a financial sustainability plan for nonprofit organizations. It discusses the elements of a financial sustainability plan. A financial sustainability plan should include an executive summary, financial sustainability analysis, financial ratios analysis, strategic goals and objectives, action plan, benchmark and outcomes, continuing quality improvement strategies, and budget. Many nonprofit organizations are faced with a constant challenge to match financial sustainability with their vision and mission statements. Some of the challenge may have to do with how much money they can successfully raise. This aspect can be manipulated by greater fund-raising efficiency and effectiveness. The chapter suggests approaches and best practices in developing a financial sustainability plan for a nonprofit organization. It includes a step-by-step process to use to develop a financial sustainability plan.
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This chapter explains the concept of needs assessment and the relationship between the individual and the community. It identifies the different steps involved in conducting a needs assessment and shows how needs assessment can contribute to the financial sustainability of a nonprofit organization. The chapter emphasizes how financial sustainability is rooted in the investigation and analysis of the needs of a target community. It discusses the theories about the needs-assessment process, as well as action steps toward the development of a community needs-assessment report. The chapter explores facets of financial needs-assessment of a nonprofit that can help chart a course to further the vision and mission statements. It helps the readers to learn how to use primary and secondary data to conduct a targeted needs assessment that is linked to the financial sustainability of a nonprofit organization.