Securing funding can be a significant concern for community organizations, including finding new or stable funding sources. Community organizations receive revenue from a number of different sources including: fundraising, donations, earned revenue, municipal, provincial and federal government funding, as well as external organizations (including private business). The revenue source often depends on the type and mandate of the community organization. This section covers information about types of funding available to community organizations, including social enterprises.
There are a number of funding programs that may be helpful to organizations looking to start a community organization, or diversify the funding of an existing organization.
Organizations rely on fundraising and donations to make up a significant proportion of their revenue. These donations come in many forms: from individuals, private business and more recently, from innovative new methods such as online-based crowdfunding.
There are a large number of crowdfunding platforms available online and choosing the best platform can depend on the type of campaign being held by the fundraiser. Don’t know where to start? Check out some of the most popular sites like Indiegogo opens in new window , Kickstarter opens in new window or Gofundme opens in new window to get an idea of what is required to set up a campaign.
Funding for organizations with social enterprise activity may differ from non-profit or charitable organizations in that they should consider looking at funding that applies to their business activity, rather than their community mandate. Some relevant funding programs for social enterprise are available from the Provincial Government, while social enterprises can also consider crowdfunding or untraditional financing options such as patient capital or angel investing. These alternative financing models may allow for more flexibility than traditional financing methods through measures including improving access to funds, or lengthening the payback period.