Time to team up: Nonprofit partnerships

Not-for-profits struggling during the COVID-19 pandemic may want to consider partnering with a like-minded organization. Teaming up potentially enables you to pool funds, staff and supporters, temporarily or permanently. The two most common arrangements are strategic alliances and joint ventures. With either one, you’ll need to ensure that your nonprofit and your partner share similar values, goals and expectations, including financial ones. You’ll be sharing credit and responsibility, so it’s important that major stakeholders fully support the partnership. We can help you analyze a potential partner’s financial situation.