In response to a decline in giving and rising operating costs, nonprofits prioritized reducing costs and seeking new sources of revenue in 2023. This year, many are reporting healthy revenue and liquid reserves, indicating that their efforts have paid off.
However, with looming uncertainty around the presidential election, economy, and shifting funder priorities, nonprofits are rethinking their strategies to build resilience and continue their growth.
BDO’s eighth annual Nonprofit Standards benchmarking survey asked 250 nonprofit executives about the challenges and opportunities facing their organizations, including strategies to diversify revenue, deepen relationships with stakeholders, and demonstrate impact on beneficiaries.
Download the survey to explore the nonprofit sector’s top challenges, including:
Organizations Transform as Funding Evolves
Many nonprofits report revenue growth, but with an unpredictable funding environment, they know they need to diversify revenue streams, including through program expansion. What steps are organizations taking?
Broadening Mission Scope
As nonprofits shift the scope of their missions to meet new challenges and emerging stakeholder priorities, they need to analyze how they can transform to deliver the greatest impact. How can nonprofits transform for resilience?
Artificial Intelligence
Leaders are investing in artificial intelligence (AI) and other technologies to improve operational efficiency and donor management. However, obstacles to further AI adoption remain.
2024 Presidential Election
Many nonprofits are closely watching the presidential election to determine the potential impacts on their organization. Where might nonprofits see changes?
Explore how nonprofits are charting the path to success by downloading our full survey. In addition, our report on the higher education sector is live, and we will be releasing breakout reports on grantmakers, public charities, and international nongovernmental organizations (INGOs), in the coming weeks.