Now that the growth period for community colleges is over, and public funding has stabilized or decreased, many colleges are turning to alternative funding sources as a means of financing new projects and maintaining services. Among the funding approaches are the following: (1) grants development, which requires a library of material on funding agencies, a campus "fundability profile," faculty involvement, and a grants office; (2) revenue diversification, which involves the college in commercial activities that are undertaken specifically to support educational programs and services, including contract education, catering food, retailing, and leasing facilities; (3) solicitation of corporate donations, which has become an increasingly important means of offsetting cutbacks in local and state support; (4) establishment of alumni associations, which can be valuable sources of alternative funds while also aiding the colleges in developing political support, fostering positive public opinion, recruiting new students, and locating possible donors to the college; and (5) community college foundations, which provide a mechanism by which the college can expand or improve services beyond the means provided for by public funds. References for further reading on these topics are provided. (EJV)