If there’s one superpower nonprofit professionals learn with experience, it’s the ability to make the most of every dollar. It's born from the same passion driving their mission to support people, causes and communities. Managing indirect costs is an area where administrators can sometimes squeeze a little more efficiency out of their budgets.
When people buy groceries, they decide which stores will save them money and offer the products they need. Some stores require membership fees; some focus only on specialty groceries, while others provide the widest possible range of products. Group purchasing entities work in a similar way. Like the grocery store example, understanding the subtle differences is key to finding the right purchasing partner.
Each new year comes with a lot of excitement for a fresh start, but also a lot of stress for the unknown. As a nonprofit organization, you don’t know what the year holds, but you do know what you want to accomplish—helping as many people as possible! Although there will be obstacles within the market, we want to support you in your mission.
All nonprofits' main goal is to contribute to their mission as much as possible—we know that is a no brainer. One of the largest roadblocks is operating costs. It costs money to run any type ofbusiness, and this is a challenge for nonprofits nationwide. On top of the stress of keeping your organization going and donating as much as possible, you also have toalso consider your charity score.
We know your #1 priority is giving back to the community while keeping operational costs low. With inflation and supply chain disruptions, this isn't an easy task. On top of that, you may not have someone solely dedicated to purchasing on your team. So, where do you go from here? In order to maximize time and savings, leaders in the nonprofit space are looking to a cooperative purchasing organization as a strategic procurement partner in the marketplace.