In a nonprofit organization, saving money is just as important as increasing revenue. One way to perk up your financials is to institute some cost cutting measures. Reducing expenses, even just a little, in a variety of areas can really add up.
Here are some ways to cut costs:
Partner with local businesses
Ask if you can include fundraising information with the mailings for a business in your community. The business can benefit from some goodwill and your organization can save postage dollars on your campaign.
Share with other organizations
Team up with other nonprofits or organizations and share office space, equipment and supplies. Others may be in the same situation and would happily agree to share expenses as a way to cut costs.
Don?t go beyond your desk for meetings
Instead of flying job candidates in for interviews or traveling long distances meetings, try web or teleconferencing. There will be no delay in meeting and your organization can save on travel expenses.
Reduce training costs
Use web-based training for new employees and/or assign a mentor for them to work with. Sending a new employee to specialized training can really eat into your budget. Allow them to learn along the way with a mentor.
Don?t forget to cut the lights
Save energy whenever you can. Use a programmable thermostat at your facility to dial back the temperature when no one is present. Turn off the lights and shut down all equipment when you leave. Get all the employees involved and let them know the cost savings.
Source: http://fosterresults.com/cutting-costs-nonprofit/
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