Borrowing can help a nonprofit move quickly, expand services, or seize an important opportunity. But what happens when today's debt limits tomorrow's mission? Loan payments don't disappear when donations decline, community needs change, or yesterday's strategy no longer makes sense. While borrowing can be appropriate, nonprofit leaders must weigh the immediate benefits against the long-term financial flexibility their organizations may sacrifice. Before signing a loan agreement, there's an important question to ask: Have we fully explored what philanthropy could make possible?
Read MoreWhen developing campaigns, is your organization working with strategic plans that include specific outcomes the community can understand and invest in? Read this blog to understand why planning is critical to the success of your campaign.
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