Nonprofits can generate revenue by marketing tangible assets.
To the editor:
[04.07.04] — To expound further on James N. McClurg’s comments (Letter to the editor, 3/30/04) about converting latent assets into revenue streams, I think this is the reality of the future.
Many nonprofits have assets — collections, properties, copyrighted materials, or intellectual property — that may be converted into marketable products without diminishing their integrity.
Identifying marketable assets and then turning them into tangible products can become a self-sustaining source of revenue.
These products may be sold in a retail environment or used for donor appreciation or membership incentives.
Making products available to a broader audience increases the visibility of an institution and educates about their mission, while earning income.
Suzanne Davis, president, Bright Ideas Made Visible, Raleigh, N.C.