This report from Crone, in collaboration with Intangible Business, explores the unique relationship between nonprofit brand image and financial performance. The Cone Nonprofit Power Brand 100, is the first public ranking in the United States to value nonprofit organizations by more than financial standing alone. The ranking was compiled using sources such as the “Forbes 200 Largest Nonprofits,” the “Nonprofit Times Top 100” and the “Chronicle of Philanthropy Top 100,” to identify the largest nonprofits. Additional filters were then applied to determine the final list. This included: tax status: 501(c)(3); organizations dedicated to providing social, environmental and/or animal-related services; US.-based organizations but with an international scope; and organizations with national or international audiences and not limited to specific regions of the US.
The power of a brand is an essential and often-underestimated measure of organizational success. US businesses have long understood the importance of brand, but in the non-profit sector, this factor can be overlooked. This is no surprise as the concept of a “brand” is traditionally been associated with business and the sale of commercial goods, rather than with charities. But, in a sector where more than 1.5 million organizations are competing for resources a solid brand identity is essential. It can set expectations, gains attention, fosters relationships and ultimately helps ensure long term survival. In most cases, nonprofits raise revenue on the basis of the “promise” of helping their cause, an implicit trust that is embodied by the brand. Therefore the nonprofit brand plays a significant role in generating future revenue. What it stands for should be absolutely clear, with no compromise. Valuing brands gives organizations a license to demonstrate to companies and other partners that there is an established and justified cost to aligning with nonprofits. A compelling brand is an invaluable tool in the arsenal to generate critical funds, secure rewarding corporate and government partnerships and appeal to consumers, employees and volunteers.
The full report and rankings can be downloaded from the Crone website (pre-registration is required)
Photo from Creative Commons: Flickr: diP