Recent research provides some insight into donor motivation that can help nonprofits grow their financial support. This article summarizes a study of high net worth individuals that finds wealthy donors are primarily motivated by philanthropy. But other studies suggest that such factors as tax advantages and matching donations are critical to giving rates. A sidebar explores what Millennial donors want.
When a nonprofit desperately needs a new facility, costly equipment or an endowment, a capital campaign can be the best way to raise funds. But as this article explains, to be successful, capital campaigns require strong leadership, extensive planning and dedicated participants. It suggests best practices for choosing a leader and approaching donors.
For nonprofits that have struggled in the past to put together an annual operating budget, the process can be frustrating. But this article suggests a fresh approach to budgeting — approaching the budget as a planning tool to meet short- and long-term goals. A goal-based approach should involve the entire organization and may suggest a different (surplus or deficit) budget model.
A nonprofit’s financial integrity is simply too important to leave to an unpaid, and possibly inexperienced or even potentially devious, bookkeeper. This article provides tips on hiring a bookkeeper, including determining the position’s responsibilities. Nonprofits are advised to look for an individual who’s familiar with accounting principles and experience and relevant software.