The objectives of this paper are to map strategies for resource mobilization of nongovernmental organizations (NGOs) in different sectors in heavily aid-dependent Cambodia and analyse the past and future trends of each of the evolving strategies. The data used is the product of a national survey revealing NGOs’ key funding sources and trends in a 10-year period from 2006 to 2016. Foreign grants and donations are still dominant, but one out of five NGOs surveyed engage in earned-income activities, and this trend is expected to increase in the next 5 years. This study contributes to the on-going academic and development debate about the struggles non-profit organizations face and the ensuing strategies for mobilizing funding. It also raises questions about the potential effects of different strategies for resource mobilization, social and ethical dilemmas, and the trade-off between different choices of funding resulting in a diversification strategy.