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What are the key elements of a strategic plan for a nonprofit?

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Quick Answer

The key elements of a strategic plan for a nonprofit are measurable goals, priorities for implementation, a business plan, and ongoing examination of strategies to adapt to internal and external changes. The nonprofit holds strategic meetings on a regular basis that the board and staff attend, states National Council of Nonprofits.

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Full Answer

The first step in developing a nonprofit strategic plan is to develop a mission statement. The mission statement establishes the reason for creating the organization and serves as a guide for all decisions and actions in the future. The second step is to break the mission down into specific goals, objectives and activities that allow specific planning. Deadlines and objectives needed to accomplish the goals should define specific goals. It is best to outline the goals, objectives, deadlines and activities, states Nolo.

The third step in developing a nonprofit strategy is to assess available resources, including funding, volunteers and experts in applicable fields. People are as important an asset as money. After assessing the resources, it is possible to determine practical ideas, or strategies, with regard to resource utilization. A common approach to creating a strategy is called a "SWOT" analysis, which stands for strengths, weaknesses, opportunities and threats, according to Nolo.

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