OBJECTIVE 3:
RAISE MONEY IN NEW AND SUSTAINABLE WAYS
In the last strategic plan, we focused on increasing longer-term sources of support, through foundations and government, to create stability through diversification. The intention was to have at least 30% of our revenue secured prior to the following year’s fundraising cycle.
In addition, we established a charitable fund for two purposes: to build a sustainable financial model that would enable us to launch in new cities without affecting local fundraising; and to create a stable vehicle to earn income.
As we grow, so must our revenue, not just in how much we need to raise, but also in how we raise it. To ensure stability as we scale, we intend to further diversity our funding sources, including several new initiatives:
A new planned giving program – Ve’ahavta is approaching 30 years and in this time has built a legacy of helping people facing poverty and homelessness through the tremendous support of the Jewish community. Spring-boarding from our substantial growth in assets, the addition of this strategic philanthropic vehicle will further ensure the long-term sustainability of the organization. Gifts received through this program will contribute to the charitable fund, growing its ability to support Ve’ahavta’s operations.
A new catering social enterprise – Operating out of Ve’ahavta’s kitchen, this catering service will provide Ve’ahavta with a new stream of revenue while enhancing our kitchen internship program with a robust job placement opportunity.
New funding agency relationships – Ve'ahavta will continue to focus on strengthening our current revenue sources by deepening relationships with government bodies, corporate foundations, and private foundations, expanding our reach further as we now will operate on a national level.
TARGET DIVERSIFIED REVENUE SOURCES
