National Nonprofit Day is a chance to celebrate the organizations and people working every day to strengthen communities across Maryland. Behind every successful nonprofit is thoughtful financial planning, strong community partnerships, and access to the right resources.
Whether your organization is well established or just getting started, these five financial resources can help strengthen your foundation and support your mission for years to come.
1. Explore local grant opportunities
State and federal grants can provide meaningful funding, but competition is often high. Local grant opportunities often provide valuable funding and create a more accessible path for organizations serving Maryland communities.
Local funders are already invested in the communities you serve.
- Build relationships with local funders who understand your community’s needs.
- Look for grant opportunities designed for smaller organizations or specific programs.
- Take advantage of application support or guidance that local funders may offer.
Read about how to find and secure local grants.
2. Leverage free nonprofit resources
Operating costs can add up quickly. Free nonprofit resources can help your organization stretch every dollar while continuing to serve your community.
- Explore free financial education resources from organizations like the Nonprofit Finance Fund.
- Download free planning tools, like our fundraising calendar template, to stay organized throughout the year.
- Look for nonprofit discounts and free versions of tools like Canva.
- Seek in-kind donations from local businesses, including office furniture, supplies, or professional services.
3. Invest in networking and mentorship
You don’t have to do it alone. Building relationships with other nonprofit leaders can lead to new funding opportunities, professional development, practical advice, and a stronger nonprofit community across Maryland.
- Join organizations like Maryland Nonprofits or the Maryland Chapter of the Association of Fundraising Professionals for education, networking, and professional development.
- Explore Maryland’s Nonprofit Navigator program for funding education, grant guidance, and opportunities to connect with experienced fundraising professionals.
- If your organization is still working toward 501(c)(3) status, consider partnering with a fiscal sponsor to help accept charitable donations while you grow.
4. Build a diverse funding strategy
When your nonprofit relies on a variety of funding sources, you’re better prepared for whatever comes next. A balanced approach can help you continue serving your community with confidence.
- Balance major gifts with recurring donations from individual supporters.
- Consider a membership program that offers benefits like newsletters, appreciation events, or branded gifts.
- Explore corporate sponsorships with local businesses that may provide financial support, volunteer partnerships, event space, or in kind donations.
5. Strengthen your financial controls
The work you do matters, and so does the way you manage your organization’s finances. Strong financial practices help protect your nonprofit, build trust with donors, and support your mission for years to come.
- Protect your organization from fraud and cyber threats by using secure systems and regularly reviewing financial processes.
- Create written financial policies and use checks and balances, including board oversight and approval processes.
- Share regular financial updates and impact reports to build trust with donors, funders, and your community.
Maryland Nonprofits offers free access to the Standards for Excellence, a resource on financial controls and good governance for nonprofits.
Choose business banking that helps you keep more of every donation
Every dollar matters when you’re serving your community. Choose financial tools that reduce fees and simplify day to day operations so your organization can keep more resources focused on its mission.
Our nonprofit members are eligible for nonprofit business checking with no monthly fee, no item fees, and no cash processing fees. Members also have access to business services including merchant processing, payroll and HR services, deposit services, treasury management, and Zelle® for Business.
If you have questions about nonprofit funding or want to learn more about business banking for nonprofits, our team is here to help. Contact our business banking team to explore solutions that support your organization and the important work you do every day.
