The COVID-19 pandemic has fundamentally changed the way that the world operates, and it is unlikely to change significantly in the near-term. How will these changes affect how nonprofits function once the worst of the pandemic has passed? Here are four key changes nonprofits should expect post-COVID.Social distancing measures and regulatory stipulations have drastically reduced the ability of organizations to hold in-person meetings and events. For the near future, this will continue to limit the ability of nonprofits to host fundraisers, hold charitable events and have in-person meetings with staff and volunteers to discuss the organization’s operations.
Going forward, it may be necessary for nonprofits to find ways to implement safety protocols or use alternative meeting formats like virtual gatherings. The impact of the coronavirus pandemic has resulted in a significant shift in how teams work together. Now more than ever, teams are being required to work remotely.
Many nonprofit community centres have moved to virtual programs and classes rather than in-person teaching. This has resulted in necessary technology upgrades for organizations. A lasting effect may be the decision to continue with a hybrid plan—even long after the pandemic has passed.
Going forward, nonprofits may need to upgrade their technology to allow for virtual collaboration. To do so, they will need to determine the impact of these costs on the organization’s ongoing operations. COVID-19 will change the way that nonprofits fund their operations for the foreseeable future. For example, organizations will likely have increased costs resulting from new technology, insurance, testing and prevention. On the other hand, some of the increased costs may be mitigated by a reduction in travel expenses and the cost of office space, especially if some employees continue to work remotely. One of the most significant impacts stemming from the coronavirus pandemic will be the ability of nonprofits to raise funds to support the organization’s mission. Donors may be more limited in their ability to support the nonprofit’s causes due to reductions in their own personal finances.
Additionally, nonprofits may now be required to change the way they prioritize their resources and assess their current charitable mission given the impact of the COVID-19 pandemic.
Nonprofit boards will need to assess their current charitable strategies, budget and fundraising forecasts in light of the changed environment. They may want to consider working or merging with other organizations with similar goals to help to reduce any substantial loss of funding. If you have any questions regarding the impact of the coronavirus on your organization or you would like to learn more about our services, please do not hesitate to contact us for more information.