If you’re explicitly looking to cut administrative costs, the partnership type you decide depends upon your financial needs. Nonprofits that are tightly strapped financially from time to time trust integrating with an alternate organization. One such partnership option is a strategic restructure or merger, through which separate businesses absolutely integrate administrative, software, and governance functions, allowing them to leverage materials, expand programmatic knowledge, and become more most economical. Note that this usually adjustments a company’s constitution and manage. A great instance of this kind of partnership is the only among Vs.
Cancer and the V Foundation for Cancer Research. Both organizations’ missions align: Vs. Cancer is a nonprofit that empowers athletes to fund childhood cancer research and local pediatric oncology courses, and the V Foundation funds cancer research at famous cancer centers across the nation. What makes this partnership particularly strategic is the style the V Foundation’s popularity validates Vs. Cancer’s efforts. Because the groundwork is well known within the athletic group, those that hear about Vs.
Cancer for the 1st time throughout the partnership usually tend to trust the nonprofit.