So, you want to follow your passion, or you want to save the world. These are both noble desires, and there is nothing wrong with them, but the reality is that sometimes life comes with responsibility and bills. Part of thriving as an adult is the ability to earn enough money to satisfy your needs and save. In the job market, we are often faced with choosing between our desire to save the world, and our need to earn a certain amount of money. Given that salaries in the non-profit sector are generally lower than in the for-profit/private sector, choosing to do meaningful work in the non-profit sector could mean lower earnings.
When I was younger, I wanted to save the world, and that led me to focus on non-profit work, and eventually setting up my own social enterprise. But, I am not ashamed to say that I have passed that season in my life. Don’t get me wrong, I still want to do good and save the world. On the other hand, I have responsibilities that require the exchange of cash money. I want to give my son a good foundation in life and create generational wealth that I can pass on to him. Therefore, noble as I want to me, I have to put a focus on me and what is going on in my bank account. The better I take care of myself, the more I can give to the world. It sounds like a very selfish place to be at, but it is not. If I do not take care of myself and my son, then we become a burden to others in society, rather than contributing members of society.
Helping to save the world can happen in three ways: Setting up and running a non-profit organization, working for a non-profit organization, or donating to a non-profit cause. I have done all three. And all options have their rewards, chief of which is fulfilling the desire to positively contribute to solving some problems in the world.
Running a Non-profit Organizations
The desire to do something for the benefit of society inspires people to set up organizations with charitable missions. The aim is not to earn profits, but to have an impact on society in different areas such as health, art, culture, education, sports, etc. These organizations get special recognition and benefits by law. Because of their charitable missions, non-profits can access funds through grants and corporate sponsorships to run their organizations and deliver their missions. Raising funds for non-profits is challenging, and these days, even with a public mission, most organizations have to carry on some kind of business to contribute to their bottom line. At least 70% of non-profit revenue comes from fees for services and goods from government and private sources. Evidently, non-profits cannot rely on grants and donations alone.
It’s not impossible for non-profits to stay focused on their mission, but they face challenges that threaten the existence of the organization and their capacity to deliver on their mission due to limited funds. Often founding leaders in non-profits have to dig into their personal resources to ensure that they can deliver on the mission of their organization. I know first hand what this feels like, and believe me, it is very stressful.
That said, there are ways to overcome these challenges. The bottom line is that profits are used to further the mission of the organization, rather than benefit the individuals working for the organization.
Working for a Non-profit Organization
Another way to contribute to society is through purpose-driven employment in a non-profit organization. There are advantages and disadvantages associated with working for a non-profit organization. For starters, the opportunity to satisfy your desire to do passion/purpose-driven work is probably the top advantage. In some instances, the ability to achieve a better work-life balance is another advantage. My first employment after college was in the non-profit sector and I enjoyed having my 20 vacation days over the 10 days that my friends in the private sector had. My work hours were fairly certain, compared to my friends in the private sector who worked 50 to 70 hours per week, at least. I couldn’t complain about the benefits, but my salary was nowhere near what my friends in the private sector were making. The total benefits and compensation of a non-profit employee will depend on the size and fundraising capacity of the organization. There are definite trade-offs and satisfaction will probably depend on where you are in your life and what your personal needs are. Although working for a non-profit did not fill my bank account, I gained valuable experience that continues to be relevant in the work that I do.
Donating to a Non-profit Cause or Setting Up a Foundation
The third way that people can choose to satisfy their desire to contribute to society is to donate to a non-profit cause. This can be done in two ways: donating to existing organizations, or setting up a foundation to support different causes. Grant space defines a foundation as a non-profit or charitable trust that makes grants to organizations for charitable purposes. Popular foundations such as the Ford Foundation, Rockefeller Foundation, Bill and Melinda Gates Foundation, Oprah Winfrey Charitable Foundation, Clinton Foundation, and Obama Foundation were set up by private individuals with the resources and wherewithal to support the charitable causes that they believe in.
I once worked for a very successful businesswoman who had a passion for education. She worked very hard at her business and growing her profits, and used her own resources to create education interventions for her community, including an elementary school in her home community in Nigeria. What I learned from her was that I didn’t have to work in a non-profit organization to have an impact on society. A focus on for-profit ventures does not necessarily equate to abandoning a contribution to society.
The Choice
The choice of how to contribute to and have an impact on society will be different for everyone. It is a personal choice. I don’t believe that one is nobler than the other. I have a son to provide for, and an aging mother to keep an eye on. My financial goals and priorities are different from where they were in my twenties. However, I still have a genuine passion for contributing to social development. But I know that passion on its own won’t pay the bills.
So, what do you think? Non-profit or for-profit? Is there even a need to choose?
