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With 'donor fatigue' in rich nations and increased confidence from developing countries, more and more people are talking about local NGOs standing on their own two feet, and becoming more financially sustainable. For most NGOs working in a development context, meeting the needs of its beneficiaries in the long term and in a sustainable manner is an important strategic objective.
Financial sustainability is becoming one of the prime concerns of NGOs in the developing world. For too long, they have been depending on funding from donors (often based in the so called first world countries) and led by the donor's agenda in shaping their work. This is often problematic because donors have little idea of what the communities (or beneficiaries) want. Donors are often accountable to philanthropists, general public, accountability institutions, industries etc. who support the inflow of funds/programs etc which are then passed on to the NGO.
To circumvent the problem of funding stipulations, NGOs are changing their form and function in a variety of ways to become more financially sustainable.
This strategy encompasses all levels of the change finance thinking to enable any NGO to build a robust strategy and charter a more sustainable approach towards resourcing their plans. It is developed by a global leading consulting firm GBSH Consult Group.
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Source: Best Practices in Nonprofit PDF: Financial Sustainability Strategy for NGOs Toolkit PDF (PDF) Document, GBSH Consult Group
ABOUT THE AUTHOR: GBSH CONSULT GROUP
GBSH Consult is a tier-one first-to-market multi award winning global think-tank, strategy and management consulting firm focused on serving the marketplace for next generation technologies and world best practices in consulting. GBSH Consult delivers essential advantage to the world's top influential businesses, governments, and organizations.
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The company offers consulting, outsourcing and technology services and solutions to organization both on the commercial and the government offer significant competitive advantages to clients in the growing markets for best practices in revenue growth, venture creation, global expansion, restructuring, turn around and much more
GBSH Consult Group has published 3 additional documents on Flevy.
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