Informative, insightful, and rejuvenating are just a few of the ways participants described the seminar on “building the capacity of your nonprofit” that DC LISC hostedas a part of the District of Columbia’s Office Of Planning’s “Start it in 7: Ward 7 Entrepreneurship Week.” Our seminar was part of a week long set of workshops, panels and seminars for the residents, businesses and nonprofits of the neighborhoods in Ward 7 of northeast Washington, DC.
DC LISC staff worked with the nonprofits to help them think through financial management, forward planning, and management/leadership. Eric Washington, Founder of DC Wrestles, noted, “The presentation provided me with a lot of current and up-to-date information and strategies to improve and expand my business and it was presented in a straightforward, down to earth manner.” Here are a few of those down to earth points from the seminar:
- There are times that becoming a 501(c)3 might not be the right path.
- Use your budget as a planning tool.
- Accounting and time sheets may not be fun, but they are key to the proper allocation of grant resources.
- It is important to build relationships with your funders. They’re people too.
- Don’t start using a new social media network unless you have the staff time to update it regularly.
- Professional development of staff and a comprehensive board are just as important as having a strong executive director.
Here are some additional resources for nonprofits: