Understanding Nonprofits: It’s Still a Business [Video]

In this enlightening clip of Earn Your Leisure, hosts Rashad Bilal and Jonathan Alvarez dive deep into the often misunderstood world of nonprofit organizations. Contrary to common belief, they discuss how managing a nonprofit is very similar to running a business – the main difference being where the income comes from and how it’s utilized.

Jonathan Alvarez sheds light on the fact that nonprofits still need to manage income, just like any profit-seeking business. However, instead of selling goods or services for profit, nonprofits focus on providing essential services such as financial literacy programs or mentorship for free. Funding for these activities can come from diverse sources, with government funding being one of the prominent but less reliable methods due to potential political shifts.

Tune in to learn more about the nuanced fiscal management that keeps nonprofits afloat and the challenges they face in maintaining funding and stability. Whether you’re looking to start a nonprofit, donate to one, or simply interested in business models, this episode provides valuable insights into the delicate balance of social service and financial necessity.

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