The Dance House Director’s dilemma part I
Building a broadly impactful and long-lasting dance house is no easy task. In addition to formulating a long-term mission, establishing community recognition, and developing ties to other organisations, traditional dance houses must also secure regular sources of external funding. The cycle of worry is never complete, as there is the never-ending possibility that donor pockets will empty and grant opportunities will not come to fruition. Moreover, fund-raising efforts can divert substantial time from actively fulfilling the dance house—nonprofits mission.
To diversify their revenue stream and alleviate the pressure associated with always-tenuous funding sources, some nonprofits incorporate commercial activity into their revenue-generating agenda. Sustainable nonprofits earn profit independently by providing a product or performing a service (such as dance lessons, artistic development, rental of space etc) that has real commercial value, reducing their need for donor support.
Traditionally in Cyprus most investment and venture capital was easily obtained from government and EU grants, usually awarded to individuals and businesses in the “inner circle” of the political machina. This gravy train for easy access to funding is gone forever. Now its the right time for people to find other ways to get funded and get out of there comfort zone—to be continued.
extract/ref: http://opensource.com/education/11/9/how-build-sustainable-nonprofit-open-source-way