12 Sources of Millions & Billions for Aging Services & Programs
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12 Sources of Millions & Billions for Aging Services & Programs

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Your organization is vulnerable if you have all your financial eggs in one or two baskets. Learn how to create a variety of new revenue streams to keep your organization independent and resilient. 

Source 1: Tapping into Self-Pay 

Self-pay and third-party contracts can create and enhance new income streams. Done correctly, they can strengthen—not deter—from your organization’s mission. 

Source 2: Increasing Clients’ Incomes to Pay For Services

Your organization can promote or offer programs that put additional money into your clients' pockets.

Source 3: Health Insurance & Third-Party Pay Options 

To tap into health care and corporate elder care dollars, nonprofits need to enhance their services and reposition themselves.  

Source 4: Donation Programs—Ask and You Will Receive! 

The best source for unrestricted funds is a well thought-out and diverse donation program. 

Source 5: Investing Wisely in Volunteers

Volunteers can be enthusiastic goodwill ambassadors for your programs. It pays to invest in them. 

Source 6: In-Kind Support

The recession has put a damper on monetary gifts, but it also has spurred a new wave of creative in-kind donations, which can be surprisingly profitable for your organization.    

Source 7: Strategic Partnerships with Businesses

Partnering with business can lead to long-term, multifaceted support that strengthens and grows both organizations.

Source 8: Strategic Alliances with Other Nonprofits and Government Agencies

Nonprofits are missing out on many economic and social benefits from better alliances and strategic partnerships with other nonprofit and government agencies.

Source 9: Social Entrepreneurship—Creating a New Business Venture

Nonprofits serving older adults are in a good position to tap into new marketplace opportunities. Some creative aging programs are developing revenue-generating products and services to overcome reliance on traditional funding sources and become financially self-sufficient. 

Source 10: Community Building & Fundraising on the Internet

The Internet is creating a revolution in nonprofit fundraising. The onus is on us to figure out how to use this incredible resource to advance our missions.

Source 11: Foundation & Government Grants

Grants are often aging services' bread and butter. But can your organization maximize these sources in an economic downturn? 

Source 12: Advocacy

You don’t get if you don’t ask, cajole, compromise, prove, organize, convince, create, and even demand government funding. Explore the issues and get practical tips on how to be an effective advocate.

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