The annual growth of Cultivate reflects some exciting trends!
- The leaders we support are raising more and more donations that are designated to their projects. Offering this service to projects (fiscal sponsorship) is a key aspect of our program. Our hope is that this will continue to grow and quickly become our highest source of income.
- Our income has always covered our costs and allowed us to expand our programs as demand grows. We anticipate that 2019 will be a tremendous year of expansion for us, as we begin to offer our programs to community leaders in the Twin Cities area of Minnesota, as well as continue to expand our programing across the globe.
- We are working diligently to diversify our sources of funding, so our programs have stability that allows for even greater impact.
Sources of Income
Expenses and Project Regranting
A few explanations:
- All donations that are designated to our trainees' programs are disbursed to those programs and are reflected as regrants. Eight percent of all designated donations are retained by Cultivate to cover credit card processing fees, bank fees, transfer fees, accounting, and other costs associated with accepting, managing, and disbursing those funds.
- Our trainees are offered fiscal sponsorship upon successful completion of our training program and submission of an approved application, thus not all current trainees are using our fiscal sponsorship services.
- We know that strong, well-managed nonprofits aim for 80% of all their expenses to be allocated to their programs and that is our goal. As any startup organization, it takes more resources to initiate an effort than it does to maintain it. So we ask that you be patient with our administrative expenses, knowing that we're working diligently to lower these costs and focus our efforts on our programs.