Since 1996, we have been working with nonprofit organizations. Our team of professionals are specialists in this industry. It does not take long for newbies to quickly find out just how different the environment is as compared to a corporation seeking profits.
While a nonprofit’s primary goal aligns more with the ability to serve a unique sector like Medical Associations (such as Oklahoma State Medical) and not solely on financial gain, their financial needs are just as, if not more, prevalent.
Nonprofits and Associations with Foundations are a business and need to conduct themselves accordingly.
Profit-seeking corporations create service and product lines that are marketable and sought out by paying customers. Nonprofits, on the other hand, see a need in the community that is unfulfilled or under served. They create product and service offerings to benefit the greater good, accept donations, educate their members, provide continuing education, and they are rolled out to their respective community of like-minded individuals and corporations. Simple business economics tells us that the latter model will need to find funding elsewhere, and on an ongoing basis, to keep the operation afloat.
Enter stage left: the fundraiser focused on engaging the donors with fundraising. Often confused with a four letter word to some, fundraisers (the valuable sales people of this industry) and the associated proceeds play a monumental role in the success and reach of various nonprofits. For example, the American Red Cross is arguably one of the largest and most recognizable nonprofits in our current economy. They regularly seek monetary donations and even their blood and supply collections can be seen as a fundraiser of sorts. Each donation or dollar collected must be accounted for and recorded appropriately.Engagement Management Software with fundraising capabilities is specific to the nonprofit world and is mission critical for tracking, reporting, and forecasting contributions.
Some popular fundraising components include:
- Specialized Accounting
- Split Gifts
- Individual Recurring Donations
- Direct Mail Pieces
- Grant Management
- Event Management – i.e. Gala, Silent Auction, etc.
- Online Self-Service for updating donor information and contributing online
- Marketing Automation (Web Site Integration with Email Marketing & Analytics)
- Social Media for Collaboration
No single fundraising method will cover all profitable avenues. Typically, a varied technique assures the widest reach. Given the common use of the internet and mobile devices, nonprofits are using this as a primary means to reach their target audiences and save on administrative costs. Regardless, there are often multiple fundraising efforts in process at any given time, and it becomes crucial to find a software capable of properly tracking each campaign’s effectiveness and keep the data in one place for everyone in the organization to utilize.
We offer a consulting approach to help assess and select the proper fit for fundraising software in addition to other services unique to the nonprofit industry.
Contact us today for personalized assistance!