No Money, No Mission: The Business Side of Non-Profits

Episode description

Today on Money Talk, we will discuss the importance of understanding the business of a non-profit.  Non-profits exist to fulfill a mission, often filling the gaps in society.  However, if a non-profit buys any supplies, rents a building or pays even one employee, then there's a business side that also matters.  A common refrain is "no money, no mission."  In this episode, we'll address how much good work should a non-profit produce, the difference between transactional and transformational work, the sweet spot of the ideal mix of contributed income and earned income, and why diversity of revenue benefits the whole non-profit, and therefore, the community.  Hopefully, by the end of our talk today, you'll better understand the business side of non-profits.