A brief audit of a client’s receipts over the past year revealed something interesting: 22% of their income came from sources other than the primary source. The organization has diversified their approach to receiving income so that more than one in five dollars comes from a non-traditional source. This means that if their primary revenue streams remain the same, this organization will have 20% more money to use – woohoo!
This is a good lesson for churches: are you dependent on your mainstay revenue source (tithes and offerings) or have you begun to look at other revenue streams? Churches must be creative in getting money in the door and then very transparent in how it is spent and used. Here are 21 different revenue streams (the first 10 come from a list prepared by George Bullard and the rest are from me):
- Special offerings
- Tithes and Offerings
- Designated gifts
- Fee for Services
- Capital Campaigns
- Foundations of the Organization
- In-kind resources and services from individuals and businesses
- Sale of Products
- Foundation grants
- Investment Income
- Rental Income
- Event Registration
- Cost Recovery
- Business Partnerships
- Offerings After Special Events
- Sponsorships and Scholarships
- Ownership of Facilities
- Memorials and Memorial Gifts
- Capital Investment Lists
- High Capacity Donors
- Gratitude Gifts
- Alumni Gifts