A nonprofit alone can only do so much work, and even with the right team and access to resources, the organization will only have so much reach within a community. This is where a partnership between a nonprofit and a for-profit can make a difference, allowing the organizations to create and carry out philanthropic initiatives that positively impact stakeholders on both sides.
While these collaborations have the potential to lead to a lot of good, the formation of one should always be done with due diligence. Below, 14 Forbes Nonprofit Council members each share one common mistake nonprofit leaders make when approaching the formation of corporate sponsorships.