Research shows that up to 70% of your first year donors don’t give the following year – and we know how much work it is to get that first gift. At the same time, many nonprofits struggle with keeping their board members excited about their mission and actively fulfilling their roles within the organization and in the community.
On Wednesday, February 6, 1-2pm (EST) - Join Jay Love, co-founder of eTapestry and now Bloomerang (www.bloomerang.co ), and Bryan Orander of Charitable Advisors and the Not-for-Profit News (www.CharitableAdvisors.com) , for an insightful webinar discussion about how your organization can better retain donors and motivate board members. Jay will share the latest research, and new developments in technology, that can help you retain the support and loyalty of more of those donors. Bryan, a Certified BoardSource Governance Trainer, spends much of his time with dozens of nonprofit boards each year. He will share insights from research and his experience that can help your board members become more fully engaged with your organization.
No cost to participate but registration is required. To register, go here. At last count, registration was already pushing 50 participants.
Nobel Prize-winning chemist Neils Bohr reportedly once said, "Prediction is very difficult, especially if it's about the future."
New York Yankees catcher Yogi Berra once said "The future ain't what it used to be."
Based on dozens of predictions received from smart people in and around the Nonprofit Quarterly orbit, this Cohen Report excerpts some telling commentaries that lay out thematic predictions for the coming year.
- Relationships with Government - is decreasing funding the new normal?
- Charitable Deductions - how could it affect your specific base of donors?
- The Changing Nonprofit Sector - will this be the comeback year for nonprofits? If so, in what form?
- The More Things Change - the growing importance of advocacy to almost every nonprofit
New Year for Nonprofits: 4 Steps To Achieving Lasting Cause Marketing Partnerships
The following is a guest post by Ashley Halligan, nonprofit analyst at Software Advice. The new year is upon us, so why not make a resolution to focus on making lasting relationships with businesses that can benefit your nonprofit? Cause marketing is a mutually beneficial marketing strategy for nonprofit organizations and for-profit businesses. But there are key questions that nonprofits must ask themselves to ensure a ROI for both parties. What kind of partnership is your organization seeking? Strictly funds? Co-marketing? Enhanced public visibility? Hard goods?
After speaking with professionals from both established nonprofit organizations and for-profit businesses, we developed a checklist with steps to assist nonprofits as they seek a lasting business partner.
1. Identify Your Goals Identifying your needs is essential to identifying prospective businesses to partners with.
Catherine Chapman, CFRE at Fullanthropy, suggests seeking businesses with similar philosophies. "Look for businesses that have commonalities with the organization. They might have the same values or culture, or they might have a similar target demographic with clients or donors," she says.
Bruce Burtch, the author of "Glowing Your Business," agrees, "Search for organizations aligned with the mission and philosophy of the nonprofit." As an example, he suggests, "If you are trying to build a homeless shelter, look for construction companies, architects, etc."
2. Develop a List of Prospective Partners After prospects are identified, developing an outreach strategy is important. Begin by finding connections within your own organization-if possible. An existing connection can open a promising door within a for-profit company. Otherwise, it's important to reach out to the appropriate person within the organization.
According to the most recent Fraud study conducted by the Association of Certified Fraud Examiners, nonprofits reported a median loss of $100,000 along with an even greater potential cost for reputational damage. It may be surprising, but the external audit is only likely to detect fraud just over 3% of the time. The top fraud detection methods include tips from staff or others (43%); management review (15%); internal audit (14%); and accident (7%). Nonprofits of all sizes have limited back office resources and the lack of staffing and controls makes them vulnerable to employees who see an opportunity. High staff turnover makes segregation of duties and training more difficult which increases likelihood of fraud.
Billing schemes are one common fraud scheme. Typically, these billings schemes involve billing organizations for personal items or marking up goods or services excessively. Nonprofits have large numbers of checks and cash from numerous sources, including handling by many volunteers, making them vulnerable to Skimming and Cash Larceny Schemes.
Read the full article to answer these questions:
- What types of fraud schemes are most common?
- What kinds of anti-fraud policies should your organization have in place?
- How do you support and protect your finance and accounting staff?
- What is a Fraud Risk Assessment?
- What role can a Certified Fraud Examiner play in preventing fraud?
Since 1999, Financial Technologies & Management (FTM) has provided accounting and financial solutions exclusively to nonprofits. James Simpson, CPA, founder and President of FTM, recently obtained his Certified Fraud Examiner or CFE designation and FTM is excited to announce the addition of fraud prevention and forensic accounting services to their comprehensive accounting and financial solutions for nonprofits.
FTMs next nonprofit forum will focus on Preventing Fraud and will be held on Thursday, January 31st at 12:30 EST.