Revenue Diversification for Charitable Nonprofits

Friday, October 5, 2018
12:00 – 1:00 pm

UWM KIRC, Room 1130
1900 E Kenwood Blvd
Milwaukee, WI 53211

Join us on Friday, October 5 at the Kenwood Interdisciplinary Research Complex to learn more about Revenue Diversification for Charitable Nonprofits.


  • William Cleveland, Assistant Lecturer, Public & Nonprofit Administration, UW-Milwaukee

The diversification of revenue sources for charitable nonprofits has been written about extensively. A guiding principle for much of this research is modern portfolio theory, the concept that one can minimize risk and maximize return through asset diversification. While the logic of revenue diversification based on modern portfolio theory seems appealing, the underlying specifics reveal sufficient inconsistencies to consider alternative theories to explain nonprofit revenue structure. This presentation discusses weaknesses of modern portfolio theory as an explanation of charitable nonprofit revenue structures, systematically examining differences between nonprofit revenues and portfolio management. Given the diversity of charitable missions and revenue sources, a broadly applicable theory of revenue structures for nonprofits is considered.