Our research unlocks the new construct of “innovation for growth” in nonprofits, defined as “innovation activities undertaken in the pursuit of revenue growth.” By interpreting rich quantitative and qualitative data from a survey of 101 directors of mid-to-large, mainly Australian nonprofits, it advances nonprofit-innovation and -governance scholarship, and reveals perceived organizational strategies and returns for nonprofit marketing leaders and boards seeking to pursue this innovation type. The research can also be drawn on to inform innovation policy for nonprofits, thus supporting the development of a thriving, impactful sector and providing flow-on benefits for society.