Ten steps to financial sustainability
Ten steps to financial sustainability
By
NCVO
SUMMARY
The Sustainable Sun tool combines six key aspects - the sun "rays" - that contribute to financial sustainability and places them alongside a journey of ten steps that can help organisations to systematically increase their financial sustainability. It can help you work out where you doing well with financial sustainability and where you need to take action. It has been developed by the NCVO to help voluntary and community organisations to develop and implement a sustainable income strategy.
The Rays
Each ray highlights an area that contributes to financial sustainability.
A: a strategic approach: ensuring how you raise funds and what you raise funds for supports your mission.
B: income diversity: an appropriate mix of funding sources; donated and earned.
C: Financial management: understanding and managing costs, income and risk.
D: communicating success: being able to show you are making a difference.
E: external positioning: knowing where you fit, how you are different and how to tell people.
F: Relationships: the relationships and partnerships with funders and others that you need to achieve your mission.
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Financial Funding Fundraising Public sector funding Statutory funding Sustainability Sustainable Resource type: Guide/tools | Published: 2014
