wordpress com stats plugin
Endowment Accounting Survey Should Raise Some Eyebrows

Endowment Accounting Survey Should Raise Some Eyebrows

More and more nonprofits are looking to endowments as a means to diversify their sources of funding. Endowments have long been a favorite funding tool for institutions of higher learning. Whether a nonprofit is new to endowment management or has been managing endowments for decades, a recent survey commissioned by AccuFund and conducted by Nonprofit-PRO shows some interesting statistics.

Endowment Accounting Survey

Over a third of the recipients are handling endowment accounting with Excel and Quickbooks. Another 25% must find a way to manage endowment accounting on the accounting system used by their organization for general accounting. A mere 9.5% of the organizations surveyed have a solution specific to endowment management.

It’s remarkable that managing and tracking such an important aspect of an organization’s funding strategy is done without the benefit of a specialized software solution. Beyond being inefficient, it doesn’t put the organization in a position to best serve their constituents.

Endowment Accounting SurveyDonors want more transparency. The departments depending on the funds generated by the endowments don’t have easy access to and visibility of available funds. Evidence of this is the survey’s findings on the frequency of periodic fund statement reports provided to donors. Less than 50% of the respondents provide reporting on an annual basis. Only 23% are providing reporting more than once a year, and a startling 17% said they never provide periodic fund statement reports to donors.

With competition for donors becoming more acute with each passing year, it’s time that organizations invest in the technology that allows them to provide the information reporting that could convince a donor to support the endowment. I think the door should be closed on the “we’ll just manage as best we can with what we have” mindset. Managing by spreadsheet is not the optimal way to manage multi-million dollar endowments, let along attract more gifts.

More of the survey’s findings can be found here.

Why Nonprofits Need to Invest in Fund Accounting Technology

Why Nonprofits Need to Invest in Fund Accounting Technology

When applying for grants, all nonprofits face fierce competition. A recent survey of nonprofit executives reported that a major concern among nonprofit leaders was the concurrent increase in demand for nonprofit services and decrease in available funds for services. Accelerate Grants for fund accounting are available in 2015 Simply put – fewer grants means heightenedContinue Reading

Renewable Referrals on Duct Tape Marketing Podcast

It was fun to sit down with John Jantsch and talk about referrals.  John was kind enough to have me, and co-authors Kelly Weppler and Rosie Taylor as guests on his weekly podcast. You can listen to the podcast here. How healthy is your channel of referral partners? In the big picture of lead generation,Continue Reading

Renewable Referrals now available on Amazon

The book has been published!  It’s available on amazon.com. If you’d like a better blueprint for a lucrative source of referrals than say, asking each of your customers for three names, then you’ll benefit from Renewable Referrals. I’m honored to report that John Jantsch, author of The Referral Engine, The Commitment Engine, Duct Tape SalesContinue Reading

B2B Website Design 7 Tips and Warnings

For successful B2Bs, the hub of their marketing should be their website. All of your marketing efforts – inbound and outbound, direct mail and email, social media, etc. – should be driving traffic to your website. That means you website should provide a good visitor experience, should have visible calls to action, and should beContinue Reading

How to Grab the Attention of Your B2B Prospects? Relieve the Pain.

It takes about seven impressions for your brand to have any sort of mindshare with your ideal prospects.  That’s what the late Jay Conrad Levinson stated in a keynote I attended a number of years ago.  He followed up that statement with “but you have to recognize that two out of three times they’re notContinue Reading

How Can a B2B Technology Company Give Free Trials?

How Can a B2B Technology Company Give Free Trials?

The seven stages of the Marketing Hourglass are Know Like Trust Try Buy Repeat Refer.  When you sell a high-end solution, creating content or deliverables for the ‘Try’ step can be challenging. Chances are you’ve investigated a solution for your own business where there is s free version and paid versions.  The intent is simple: Continue Reading

The Secret of Successful B2B Marketing Plans

Are the best marketing plans largely comprised of online marketing?  Direct marketing?  A combination of both? Is it necessary to do SWOT analysis?  Should you spend 5% or 7% or more on your marketing?  Or is there something else? Here’s the secret: the best marketing plan is the one that gets done.  It’s the planContinue Reading

Step 7 – 10 Ways To Make Social Media Marketing Easy for B2B Sales-Driven Companies

If you’ve populated your B2B Social Media networks with the right people, you have cultivated platforms with which you can be visible to your key B2B audience.  Social Media allows you to demonstrate frequently your competitive advantage and why your ideal prospect will benefit from working with you. The key is cultivating the audience andContinue Reading

Step 6 – 10 Ways To Make Social Media Marketing Easy for B2B Sales-Driven Companies

Just because there are social media automation tools, doesn’t mean you should use them.  Is there a good use for them?  Yes.  But use of an automation tool does not give you a perpetual excused absence from your social media accounts. Why put a barrier between yourself and your network??? Think about it this way:Continue Reading