Continental Senior Center sources for funds to run its projects through various means. Firstly, it organizes fundraising events which help it to raise some income for its activities. However, fundraising does not generate much income and therefore, the little money that is got is used to cater for short term projects. Secondly, donations from well wishers provide another source of income for Continental Senior Center. There are people who are willing to support the organization in carrying out its specific projects. However, due to the fact that the organization is located in a low income zone, it still probes for support from Wesley Foundation which provides financial support to organizations that have similar objectives as Continental Senior Center.
The other source of income for the organization is funding of programmers for particular projects. It constitutes funds from partners at work, and therefore, this calls for well-built working relationships among partners. Nevertheless, the major source of income for Continental Senior Center is its own funds since other means can be short-termed or unreliable.
Public and private funding provides sources of income to organizations and projects that could have otherwise stalled due to financial constraints. The major difference between these two types of funding is on the policies that cover each type (Marquis, 2012). For instance, public funding is normally associated with a lot of formalities unlike private one. Public funding is also a means for investment that attracts the entire public. This implies that there is high competition while accessing such funds than in private sources of funding.
In public funding, there are various legal accords that the party which provides funding expects will be abound to. For instance, the grant can be discontinued if the funds are used for their unintended purposes (Marquis, 2012). The funder expects to be getting reports on how the money is being spent as well as accountability in all the procedures in addition to other legal agreements. In conclusion, it can therefore be said that private funding is far much easier to obtain than its counterpart due to the bureaucracies involved in the latter.
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