1. Growth continues even with all the challenges in 2020. 50% of respondents said they expect growth in revenue and mission.
2. Nonprofits find new sources of funds. Grants will continue to be an important source of income going into the next 12-18 months. Over 75% respondents also applied for PPP loans during the 2020 pandemic year.
3. Complexity in growth. Managing new funding streams continues to be at forefront in nonprofit growth planning with 54% expecting revenue growth in new year.
4. More grants drive more mission. Seeking new grant funds, according to 77% of the study participants, is the top way organizations are helping to maintain and increase funding. Grant audit reporting needs are more frequent and detailed. Over 54% of nonprofits reported having at least six grant funders to respond to.
5. Tell us the grant details. Grant providers are requesting monthly audit reports with quantitative data points to show how monies are being used by grantees. Grants, and need for more grant reporting as well as detailed audits are key in 2021.
6. Creative fundraising tactics build more revenue streams. Nonprofits are engaging in new fundraising tactics and becoming more creative in the face of the coronavirus, with a rise in nonprofits utilizing virtual events and exploring additional new funding opportunities as an important source of revenue going forward.
7. Technology needs continue to grow. 91% of respondents worked from home in 2020. Technology and IT plans for growth in next 12-18 months in relation to cloud and technology additions to minimize future risks for 2021 with 30% planning upgrades.
8. Cloud-based technology. 48 % of organizations are more likely to adopt a cloud-based solution than in the previous year.