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Neoliberalism has significantly reshaped the incentives and practices of civil society organizations. This paper uses extant scholarship on neoliberalism, organizations, and social movements in order to advance a theoretical argument about the specific nature of neoliberalism’s effects on social movements. Specifically, I argue that neoliberalism—by tying social movements to the bureaucracies and funding processes of federal institutions, by encouraging isomorphism with for-profit structures, and by increasing formal organization and professionalization—has exacerbated civil society’s resource dependence, and that has impaired civil society’s ability to criticize or advocate for dramatic policy change. I explicitly problematize some of the assumptions of the resource mobilization literature—from which most of the NGO literature proceeds—suggesting a need to sensitively probe some of the liabilities of formal organizations.