Strategies Nonprofit Leaders Use to Achieve Financial Stability Through Sustainable Funding

Strategies Nonprofit Leaders Use to Achieve Financial Stability Through Sustainable Funding by Jerel Colemon MS, University of Phoenix, 2012 BS, University of Cincinnati, 1987 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University August 2019 Abstract Leaders of nonprofit organizations fail to achieve financial stability to meet their mission and vision without sustainable funding. The achievement of fiscal sustainability is the most pressing challenge facing the nonprofit sector. Through the lens of the balanced scorecard model, the purpose of this multiple case study was to explore strategies that nonprofit organization executive leaders used to secure sustainable funding for financialLeaders of nonprofit organizations fail to achieve financial stability to meet their mission and vision without sustainable funding. The achievement of fiscal sustainability is the most pressing challenge facing the nonprofit sector. Through the lens of the balanced scorecard model, the purpose of this multiple case study was to explore strategies that nonprofit organization executive leaders used to secure sustainable funding for financial stability. Data were collected from semistructured interviews with 5 executive directors of nonprofit organizations in Ohio who had implemented strategies to secure sustainable funding to achieve financial stability and a review of their organizational documents relevant to sustainable funding. Data were analyzed using Yin’s 5-step process for analysis. The 3 emergent themes resulting from data analysis were a sustainable programming strategy, a relationship collaboration strategy, and a donor commitment strategy. The findings of the study indicated that leaders of nonprofit organizations secure sustainable funding for financial stability through effective programming to fulfill their mission, developing collaborative relationships with internal and external stakeholders, and improving donor commitment to receive funding through reoccurring donations and endowment sources. Leaders of nonprofit organizations could use the findings of this study to provide comprehensive services that result in improved living and economic conditions in the communities they serve through implementing strategies for sustainable funding to meet the mission of their organizations. Strategies Nonprofit Leaders Use to Achieve Financial Stability Through Sustainable Funding by Jerel Colemon MS, University of Phoenix, 2012 BS, University of Cincinnati, 1987 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University August 2019 Dedication To my family. Thank you for your prayers, patients, and encouragement. My Virgil and Colemon families created something in me to level up to the pinnacle of education achievement. I love you all. To the memory of Fonz. My four-legged best friend that hung in there with me as long as he could. You were truly loved and are truly missed. Acknowledgements I am thankful to God for these Blessings! I want to thank Dr. Ronald Jones profusely, who throughout my doctoral journal gave his timely words of encouragement to get me passed my poignant moments of stifled progress. You are a great mentor and even better person. I want to thank my entire committee, Dr. Robert Banasik, Dr. Chris Beehner, and again Dr. Ronald Jones, for your guidance, constructive feedback, sharing your wisdom and being exemplary scholars. I want to thank my church family and friends for your positive thoughts, prayers and encouragement that did not go unnoticed. I have a praying family. I have a family of entrepreneurs, business leaders, and educators with an infectious excitement for me to finish my doctoral journey sooner than later (no pressure). I needed every bit! Thank You! Mom, this one is for you! I love you ALL!