Making your nonprofit’s special event profitable

As in the for-profit world, sometimes not-for-profits need to spend money to make money. This is particularly true when it comes to fundraisers. At the same time, it’s critical that you make a budget and stick to it. Estimate expenses for such items as facility rental, food and drinks and entertainment, and then scrutinize the list for what can be reduced or cut. You might be able to find a business sponsor to help defray costs. Just be careful. Don’t promise too much in sponsor benefits, such as free advertising. It could lead to unrelated business income tax problems. Contact us for more tips.