Challenges Established & Emerging Nonprofits Faced During Pandemic Persist Four Years Later; Data Shows Increasing Need for Fundraising Support
WINTER PARK, Fla., Oct. 30, 2024 /PRNewswire/ — BryteBridge, a leading service provider to the nonprofit community, released a new report today that sheds light on the challenges facing small and emerging nonprofits. Knowing that approximately 30% of nonprofits fail within the first ten years of operation, according to the National Center on Charitable Statistics, BryteBridge set out to identify and understand the biggest threats to nonprofit sustainability.
The report, Growing Pains: Overcoming the Challenges that Keep Nonprofits from Achieving Sustainability and Growth, results from a quantitative survey of 261 nonprofit staff members and volunteers from organizations established between 2014 and 2024.
According to the survey:
The survey results underscore the significant hurdles nonprofits face in securing grant funding, highlighting why organizations must rely on a diverse mix of revenue streams to stay sustainable. While grant funding is an often-sought resource in the nonprofit sector, it cannot be the sole focus of nonprofit fundraising. In fact, nonprofits in their first three years of operation may be ineligible for most grants. Additionally, there is the administrative burden of applying for grants and limited resources to hire grant writers (either internally or externally) that detract from a nonprofit’s ability to generate revenue from their primary fundraising source: individual donors.
“Nonprofits around the country fill critical gaps that exist within our social safety nets,” said Brian Davis, President of BryteBridge. “While they face ongoing challenges like sustainable funding, legal and compliance complexities, and the demand for data-driven strategic planning, these hurdles are opportunities for growth and innovation. By addressing these issues, nonprofits can continue to enhance their impact and better serve the communities that rely on them.”
The report uncovered three key areas where nonprofits seek the most help over the years:
BryteBridge last surveyed nonprofits in 2020, at the height of the COVID pandemic, which showed compliance, staffing, financial health, and fundraising as the four main challenges facing small and emerging nonprofits. The 2024 survey showed much of the same, with fundraising and compliance growing in importance.
“It is clear that nonprofits need additional support to thrive,” added Davis. “At BryteBridge, we are committed to empowering nonprofit leaders and their teams by providing resources that help them maintain their focus on positively impacting their communities.”
To learn more about BryteBridge and the solutions it offers the nonprofit community, please visit www.BryteBridge.com or connect with us via LinkedIn.
About BryteBridge
Founded in 2004 and headquartered in Winter Park, FL, BryteBridge is a comprehensive nonprofit solutions provider offering formation, compliance and growth support services. We help organizations navigate the complexities of state and federal regulations while maximizing their impact. Since inception, BryteBridge has helped launch more than 45,000 nonprofits and provided compliance services to over 11,000 nonprofits throughout the United States.
SOURCE BryteBridge
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