Raising money to retire or reduce a nonprofit organization’s debt is a special campaign and can be a hard sell, especially if that organization does not have a community of committed supporters. However there are times when what is owed creditors or lenders infringes on an organization’s ability to carry out its mission so strongly that it must be done.
A heavy debt burden weakens an organization’s balance sheet and that can make it harder to solicit larger gifts from individual donors and any support from grant-making entities. Of course, it is best not to get into debt, but when an organization does, a debt-elimination Campaign may be the only way out.
Articles about Debt-Elimination Campaigns
How can your organization raise the money it needs to pay off: Money borrowed from a lending institution? Unpaid invoices from vendors, suppliers, and contractors for the purchase of a capital asset? Money allocated from other of the organization’s resources/assets?...read more