Partnerships can take many forms. Sponsor partnerships, public-private partnerships, and a host of others can help organizations achieve success that they wouldn’t have been able to reach on their own. In this week’s AssociationDebrief, we examine partnerships between associations, the public sector, academia, and for-profit companies to determine how organizations can find success through partnerships.
The many jobs and task of an association can seem endless. They need to generate revenue, drive membership, provide value to their members, manage endless outreach and administrative trivia – the list goes on. For associations to generate the time, resources and money for all of these activities on their own can range from difficult to outright impossible. This article introduces the idea of partnerships as a way that associations can leverage the connections, expertise, and financial resources of other organizations for their own benefit. It suggests ways that associations can benefit from sponsorship, and gives examples of successful association partnerships in the past.
This article discusses a recent NJ Policy Research Organization report entitled “The Road to an Innovation Ecosystem” that was the cumulation of a study on the past five years of economic activity in Jew Jersey. It found that collaborations between businesses, academic institutions and state governments have played an integral part in improving the tech industry in New Jersey. It discusses some of the benefits that these partnership provide, as well as how a cultural shift toward the collaboration of academia and business is underway in the state.
This articles takes the idea of partnership out of the nonprofit realm and into the area of business. It discusses how companies can build up their services and cover any weak spots by collaborating or building partnerships with similar companies or agencies that specialize in precisely the areas that the first company lack. It suggests nine best practices for creating the most successful partnerships, and these best practices can easily be translated into partnership building in any sector, whether for-profit or nonprofit. The best practices include finding the right fit, requiring 100% transparency, not forcing the relationship, not choosing a partnership for selfish reasons, avoiding white-label relationships, not being difficult to work with, being accessible, having a comprehensive vetting process, and having an escape plan at all times.
For some nonprofits and membership organizations, sponsorship is almost a dirty word. For others, it’s a way to build mutually beneficial relationships that help fund their organizations. This article discusses what sponsorship is, and reviews an article written by Joe Waters, author of the book Fundraising with Business. It includes Mr. Waters’ definition of sponsorship as “when a company commits money or resources to a nonprofit event or program in exchange for specific promotional benefits” and suggests that nonprofits start thinking of sponsorships as develop partnerships with businesses.
While partnerships can offer significant advantages to both parties if they work, sometimes the useful life of a partnership comes to an end. This article uses the breakup of two financial valuation associations to highlight some of the causes of partnership disintegration. It also lists some of the reasons for partner breakups, including unequal benefit from the partnership, drains on resources, and one partner not holding up their end of the bargain.