Perhaps somewhat ironically, change is often the only constant in business. We live in a VUCA world – Volatile, Uncertain, Complex and Ambiguous. This phenomenon touches everything today, leading to head-spinning and rapid change on both a global and local scale. Economic Development Organizations (EDO) face a unique set of challenges to address. What does change look like for EDOs? Everything from shifts in policy, market trends, funding fluctuations, institutional restructuring, new initiatives, technological advancement and beyond. To thrive amidst the complexity of many moving parts, EDOs ..read more

Change is an inevitable reality for nonprofit organizations, requiring continuous adaptation to meet the evolving needs of their donors, stakeholders, and communities. Whether it’s a shift in funding, restructuring staff, new technologies, or a crisis demanding swift action, effective change management is crucial for nonprofits to thrive through challenging moments that stress employees, clients, fundraising goals, and overall mission alignment. Research from Harvard Business School reveals nearly half of organizational change initiatives are unsuccessful. Whether planned or unplanned, change ..read more

Childcare is getting a lot of press these days.  Beyond the mountain of evidence that it pays huge dividends in reading skills, graduation rates, secondary education attainment, and lifetime earnings, the link to economic development is becoming increasingly important.  Many of our clients now consider it an integral part of their economic development program of work on which we are raising money. Just this week, articles in the Atlantic and New York Times examined the topic, with one making a strong case that it should even be free and/or available to everyone in a capitalistic syst ..read more

Infrastructure serves as the backbone of economic development, playing a crucial role in facilitating the movement of goods and people, providing essential services and supporting business operations. However, inadequate or deficient infrastructure can significantly impede local economic growth and competitiveness. From transportation networks to utilities and digital infrastructure, each component plays a vital role in shaping the economic landscape of a region. Every thriving community must plan for existing infrastructure maintenance and repair or upgrade with the latest technological advan ..read more

News of cyber-attacks and data breaches have recently crossed our news streaming platforms at a frighteningly increasing rate. Already in 2024, dozens of companies in all industries, ranging from American Express to United Health, have reported breaches affecting millions of customers. A recent Harvard Business Review analysis cited that, globally, the number of cyber-attack victims doubled in 2023 compared to 2022 – and nonprofits have certainly not been exempt from this nefarious criminal activity. As with businesses and other entities, nonprofit organizations must rely on cybersecurity as a ..read more

In many ways, a nonprofit is like a small business. While businesses try to increase sales and make a profit, nonprofits attempt to collect donations and drive support for their causes. In both cases, data allows you to make more informed decisions that boost incoming revenue. However, you can’t make reliable decisions if your data isn’t accurate, complete, and up-to-date. Comprehensive data can give you the confidence to make split-second, informed decisions that lead to lasting growth. In this article, we’ll provide tips for improving your organization’s data quality. As a result, you’ll gle ..read more

Thorough financial planning is critical for nonprofits of all sizes and in all verticals. To make the greatest possible impact, you not only need to maximize your fundraising efforts but also properly allocate the funding you bring in to cover all of the costs associated with your mission and operations. The most important financial planning tool at your organization’s disposal is its annual operating budget. Jitasa’s nonprofit budgeting guide defines this resource as “a planning document used to predict expenses and allocate resources for your organization. It details both the costs that your ..read more

Now, more than ever, collaboration is a necessary implement in the toolbag of every successful nonprofit organization to enhance public engagement and boost fundraising efforts. By working with community stakeholders, nonprofits can amplify their impact, reach new audiences and achieve greater success in advancing their missions.   In today’s often volatile economic landscape, the call for collaboration has become more pressing as communities grapple with intricate challenges. Convergent Nonprofit Solutions is applying that knowledge toward aligning nonprofit organizations with their ..read more

The importance of available, acceptable, and affordable housing options cannot be overstated in the realm of economic development. Housing is a cornerstone of thriving communities, providing residents stability, a sense of belonging, and quality of life. Achieving a diverse range of housing options that meet the needs of all users is a complex challenge. In this blog, we’ll explore how community groups, including Chambers of Commerce, Economic Development Organizations (EDOs), community stakeholders, and nonprofits can collaborate to develop additional housing options and why this is crucial f ..read more

The economic landscapes of communities nationwide are as unsettled as ever. One facet of this reality is the state of commercial real estate. Beginning with government-imposed shutdowns and social distancing during the COVID-19 pandemic, businesses and individuals have changed their habits, incorporating remote or hybrid work practices into daily life. As a result, the need for large corporate offices or brick-and-mortar stores has declined. Despite returns toward pre-pandemic norms, the current commercial real estate landscape presents a troubling future. Economic development organizations mu ..read more