A non-profit organization and its volunteers live a life that helps people to change their way of life and live healthy more substantial lives. The lifestyle in most cases helps the workers to reduce stress, improve their emotional wellbeing, and physical health.
Non-profit organizations and charitable works are beneficial to your mental health in specific ways. It provides workers with a sense of belonging, reduces isolation and loneliness and gives an individual a sense of giving back to their communities and the world at large.
Making the world a better place is contagious, the more you do for others, the more you do for yourself. A non-profit worker always feels good if they enjoy helping others.
Getting involved and doing something for a good cause is hugely beneficial for your sense of wellbeing and as an achievement. Furthermore, non-profits help its workers to let go of feelings like anger, hostility, or aggression.
Engaging in random acts of kindness will definitely improve your mental health but can you make a living from non-profit work?
Non-profit businesses need money to stay afloat and advance their missions. There’s little chance of having a successful non-profit without developing income streams for staff and expenses.
Non-profits businesses legally raise tax-free cash to run their non-profits through, numerous creative ways. Non-profit workers will attest it may be challenging to make good money in the non-profit sector, however, it isn’t impossible; below are some tips and strategies non-profits can apply to increase the amount of money you receive for non-profit work or to apply to non-profit endeavors.
Create and sell products that are related to your cause. The choices are uncountable and could range from clothes with animals baring your business logo, to other multimedia featuring lectures, webinars and digital products.
Shop around to keep your cost of production low, and make it known to any potential supplier that you are a non-profit organization since you might get a discount, which will assist in minimizing the rate at which you spend.
Making use of other local suppliers is also an excellent idea when it comes to saving cash when sourcing for products since your shipping cost can be lower.
Renting Property to Raise Funds
Generate good money from renting out your belongings as a non-profit. In most cases, that kind of income will be exempted from tax. For instance, in case you own the building which your headquarters is in, and you make up your mind to rent extra spaces out on the weekends for private or public social functions, that kind of revenue will be exempted from tax.
Non-profit art centers, museums, and performance groups often rent out their facilities, and that revenue is not only exempted from tax, but it is also essential to the sustainability of the organization.
For example, if you start a separate entity which only deals on rental facilities, instead of having all rentals linked to your non-profit business, then you would have to pay taxes on all the revenue you make.
What Does it Mean to Work for a Non-Profit?
If you love to spend your days assisting people, helping solve worldly problems in some cases, or working for a cause to improve the societal ills…. then working at a non-profit may be best for you.
Below are some things you need to know about working for a non-profit:
What does it mean to be a non-profit? A non-profit is an organization that works intending to improve the common good of society in different ways, generally through educational, charitable, religious, or scientific means.
Their defining features is that they do not distribute profits to single personals (like investors or owners); instead, they use their available revenues and income for serving the interest of the public in diverse ways.
Whenever you think of a non-profit, you may first think of soup kitchens and animal shelters; however, there are other types, of non-profits that include; advocacy groups, that work with trade associations for social change.
They offer services such as training, research as well as lobbying for the organization which they represent, such as temples and churches and other private foundations.
What types of jobs do non-profit hire for? Non-profits hire individuals to do all kinds of assignments, just like how-for-profit organizations do:
They hire individuals to do accounting, web design, management, research, administrative work, lobbying, communications, administrative work – all the same types of work which you are already used to seeing.
However, on top of all that, they also have other roles such as grant writers, fundraisers, community organizers, and volunteer coordinators.
Are non-profits staff paid? Apart from small organizations, typically a non-profit is staffed by already paid professionals. Most non-profit organizations employ volunteers along with their paid staff, but some do not use volunteer at all.
Does it mean staff doesn’t get paid in a non-profit organization? No. It is the organization that isn’t making any profit and not the team.
Do Non-Profits equal low-pay?
Because non-profits exist to improve and support the needy, it may seem contradictory to pay staff instead of helping the non-profit cause directly.
While staff help in keeping the organization operational for it to continuing its purpose, it is not an easy task determining a pay level that will attract qualified employees, while also not spending too many funds on paying salaries.
Non-profits pay scale is usually far from being high, particularly when compared to the pay level of other profit-making ventures.
Most times, although, organizations often get into trouble because individual staff members, usually the Executive Director or the CEO, are paid excessively high salary. Large scale pay typically
It is essential for non-profits to avoid underpaying or overpaying their staff. Underpaying staff may distort your ability to recruit good employees, and overpaying may get you into trouble.
What a Healthy Non-Profit looks like
A healthy non-profit is not only about endowment balances and reserves, a sophisticated accounting system or a large budget. These factors don’t always result in long-term success and proper management.
Just as your health depends on your behavior and movement, so does the financial health of a non-profit relies on the functioning of the administration – practices, and policies.
Although there may be specific occasional deficits or tight cash flows, the following features will help you in determining if a non-profit will be healthy, i.e., generate more commission and cash flow: Board members appropriately understand the responsibilities and roles in financial matters
A well-considered and realistic budget is made and approved by the board.
Board and management are committed to non-profit management to operate a surplus every year.
Pros and Cons of a Non-Profit Work
Let’s talk about why non-profit work is beneficial, even though a non-profit doesn’t focus on making profits; it still has the following advantages:
Non-profits engage interesting individuals – it is usually a common misconception that a non-profit organization only settles for those employees who are ready to work for long hours but low pay.
On the contrary, these organizations typically get to select between the brightest and the best candidates and could afford to be quite picky about whosoever they decide to employ.
Existence of unparalleled growth opportunities – While four corporate employees might be assigned to a single project, one non-profit worker might himself be assigned to four different projects.
This could lead to rapid career development and diverse job responsibilities. Employees could learn skills sets faster – Non-profit sectors love a generalist. With lesser staff slots than needed for the work to be done, they search for employees to multi-task.
Due to this, non-profits offer employees the opportunity of learning new skills and gaining experience and expertise in those areas they are yet to tackle.
The universe becomes smaller – Workers at more giant profit-making corporations hardly get to interact with the management, to show what expertise, or learn from them or get reinvigorated regularly.
This isn’t the case in non-profit organizations. The structures are usually less hierarchical, and a non-profit employee could take advantage of smaller private communities.
Some of the disadvantages associated with non-profits include:
The burnout level is high
The stakes are higher
There is a continuous focus on grants and fundraising.